Curve DAO has rejected the $6.2 million Swiss Stake grant proposal

Deep Tide TechFlow news, on December 24, according to The Defiant, Curve DAO has rejected a governance proposal to allocate 17.4 million CRV tokens (approximately $6.2 million) to Swiss Stake AG, the core development company of the decentralized exchange Curve Finance.

The proposal was submitted by Curve Finance founder Michael Egorov and aimed to provide funding for the Swiss Stake team managed by him, to be used for software development, infrastructure, security work, and ecosystem support. The voting results showed that 54.46% of participants opposed the proposal, while 45.54% supported it.

Voting data indicates that addresses associated with Yearn Finance and Convex Finance accounted for nearly 90% of the opposing votes. Community members commented in the forum that the proposal raised concerns about centralization, questioning whether Curve's governance is overly reliant on a small group. Some members also suggested that Swiss Stake should better explain the use of past funds before new funding is approved.