How Curve Finance’s CRV Token Launched Without Anyone Knowing

Key Takeaways

  • Curve’s native token, CRV, was deployed on Ethereum mainnet without anyone knowing.
  • Early risk-takers managed to grab 80,000 tokens before Curve issued the go-ahead, upsetting many users.
  • Curve’s token was trading at a higher valuation than the blockchain it launched on.

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In a stunning turn of events, Curve Finance‘s highly anticipated token, CRV, was launched by an anonymous developer rather than its core team. The token is living up to market expectations with an absurd valuation, but many community members are disappointed by the way things were handled.

Curve Finance’s Peculiar Launch

One of the most anticipated token’s of 2020, Curve’s native governance token, was slated for launch in “early August 2020.” The project’s Telegram group was flooded with inquiries from excited users as to when the token would launch.

Yesterday, Frank Topbottom, a crypto analyst on Twitter, said that Curve’s token seems to have been deployed along with the protocol’s AragonDAO. An employee from Curve replied that this was a scam, prompting the Twitter user to delete their tweet.

As it turns out, this was the actual launch, not a scam, of Curve’s governance token, but the team behind Curve didn’t even know.

The code for the token and DAO was recently made public via GitHub, and an anonymous developer decided to put it all together and launch the smart contract.

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After confirming the deployed contract contained the same code, the Curve team rushed to ensure the deployer didn’t make any significant changes or add any backdoors. With the help of Aragon, they concluded that there was nothing malicious in the contracts.

Curve ended up declaring this as their official token and DAO launch,…

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