News/Stablecoin Protocol Reserve to Invest $20 Million in Governance Tokens of Curve, Convex, and Stake DAO

Stablecoin Protocol Reserve to Invest $20 Million in Governance Tokens of Curve, Convex, and Stake DAO

Jun 21,2023,10:01

Stablecoin protocol Reserve will invest $20 million into the governance tokens of Curve (CRV), Convex (CVX) and Stake DAO (SDT). The investment is intended to increase the liquidity of Reserve's stablecoin RTokens, which will also increase Reserve's voting power in the governance systems of these protocols.

Reserve is a stablecoin protocol that allows users to create their own tokens backed by any assets they wish. Before the announcement, Reserve was already the seventh-largest holder of Convex tokens, behind only Mochi, Redacted, JPGd, Badger, Clever and FRAX. The protocol gained these tokens through the extensive use of Convex to earn yield for its users.

The Reserve team said this new $20 million investment could bring new features to RTokens, including "collateralized loans, wallet products, tokenizing real world assets, and more transparent fintech systems."

 

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