• On 30 August, Curve Finance launched three dynamic liquidity pools on Base.
• However, its TVL has continued to decline. 

As part of its attempt to pull in new liquidity, decentralized exchange (DEX) for stablecoins Curve Finance [CRV] launched new pools on the Layer-2 (L2) platform Base on 30 August. However, the protocol’s total value locked (TVL) has continued to drop since then.

We are on @BuildOnBase pic.twitter.com/QNrqkUdScz

— Curve Finance (@CurveFinance) August 30, 2023

Is your portfolio green? Check out the CRV Profit Calculator

The drop in TVL is likely due to the ongoing capital flight from Curve since its reentrancy hack on 30 July. In that hack, an attacker exploited a vulnerability in Curve’s code to steal about $73.5 million worth of crypto assets.

The hack shook confidence in Curve, as many users have since withdrawn their funds from the platform. Since the hack, Curve’s TVL has dropped by 31%. 

As of this writing, assets worth $2.65 billion were locked in Curve, with Base contributing less than 1%. Only $15 million in liquidity has been supplied to the three dynamic liquidity pools on Base since their launch, according to DefiLlama<

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Author: Abiodun Oladokun

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