Curve DAO (CRV) token has pulled yet another trick that may ultimately help its much-coveted recovery. As unveiled by the protocol, its annual emissions-slashing event has been automatically activated on-chain in a massive deflationary move. Based on the actual figures, the CRV emissions rate has now plummeted by 15.9%, as preprogrammed.
Annual CRV emissions reduced by 15.9% as pre-programmed!— Curve Finance (@CurveFinance) August 13, 2023
Most projects in the Web3.0 ecosystem of today are positively tilted toward deflation as a crucial on-chain strategy to increase valuation over time. This deflation is typically implemented in two major ways, and it could either be through halving, as exhibited by Bitcoin (BTC), Litecoin (LTC) and other Proof-of-Work (PoW) protocols or via regular token burning, as is embodied by Shiba Inu.
Despite being a decentralized finance (DeFi) protocol, Curve has a preprogrammed schedule to reduce its emissions rate, and the implementation at this time appears quite strategic.
Curve (CRV) suffered a major exploit weeks ago, with the impact taking a significant toll on the token as it recorded a massive selloff. At the time of writing, CRV is still down by 31.59% over the past month, a decrease in valuation that the current deflationary sentiment may help to turn around.
Curve price outlook
At the time of writing, Curve is changing hands at a price of $0.5829 after losing about 0.13% in the past 24 hours. Though the bearish sentiment is yet to totally fade off, there is a promising uptick in the 24-hour trading volume, which has inked as much as an 8% surge with a total of $49 million traded within that time.
Besides this current emissions slash, Curve has also implemented a number of drastic moves to help in reviving its price. One of these moves is the proposed launch of a new pool, which will offer its dedicated users more options to put their stablecoins to use.