Curve Community Rejects Proposal to Allocate 17.45M CRV to Swiss Stake AG for R&D and Team Support

Curve governance voters rejected a proposal from Curve Finance founder Michael Egorov to grant 17.45M CRV tokens (around $6.2M) to development company Swiss Stake AG for ecosystem growth, technical research and ongoing work on its lending protocol, BlockBeats reports on December 24. Egorov said the funds would support software development, infrastructure and security, and cover a core contributor team of about 25 people at Swiss Stake AG, with plans including launching and scaling the updated Llamalend lending system, building on-chain FX functionality, and enhancing Curve's interface and cross-chain capabilities. The vote ended with 54.46% of participating governance power against and 45.54% in favor, and voting data showed addresses linked to DeFi protocols Yearn Finance and Convex Finance accounted for nearly 90% of the opposing votes. Some Curve community members raised concerns about centralization and questioned whether governance relies too heavily on a small group, while others argued Swiss Stake should better disclose past fund usage and suggested any further grants be disbursed in tranches to limit potential negative impact on CRV's price.