Swerve is a decentralized liquidity exchange pool that is described as a fork of Curve. The project team ensures that there are no fake-out deployments, questionable pre-mining, founder controlling majority of the governance vote, suspect team proposals, allocation to 'shareholders', team allocation, or decades-long distribution. In other words, the total supply is owned entirely by holders, the community of liquidity providers, and users. If holders provide liquidity to Swerve, they receive $ySWRV tokens, which can be staked in the Swerve DAO to earn $SWRV. To kickstart the protocol and encourage users to try out Swerve, the first two weeks will have a larger distribution of $SWRV awarded.

Swerve is a decentralized liquidity exchange pool that was forked from Curve. It is primarily focused on stablecoin pools and has reached nearly $1 billion in total value locked. Swerve uses an Ethereum-issued ERC-20 token, SWRV, for governance and rewarding liquidity providers.

Swerve was announced on Sept. 3, 2020, and launched the next day.

Swerve was launched by a pseudonymous developer known as "John Deere" who started it as a passion project. He has experience in software development and crypto. John Deere has given credit to the community for assisting in its design and implementation. In October 2020, Swerve governance voted to hire community member "FairlyRarePepe" as an additional developer.

Swerve was launched as a community-focused alternative to Curve. It offers better swap pricing and larger annual percentage yields on stablecoins. Swerve uses a reward gaming mechanism called "Boost" to incentivize liquidity providers. Trading on the platform incurs a 0.03% fee, with 50% awarded to liquidity providers and 50% taken as an administrative fee. In October 2020, its governance voted to accept a grant to further build on decentralized finance platform Serum (SRM).

Founder John Deer's priorities for the project are to increase the platform's volume and incentivize holding of SWRV.

Swerve has a total token supply of 33 million. All minted SWRV is awarded to liquidity providers, with no premine or tokens allocated to the developers. Nine million SWRV was distributed during the first two weeks, and another 9 million SWRV will be distributed over the first year. Starting at year two, 3 million SWRV will be distributed per year until all 33 million tokens have been minted by the end of year six.

SWRV is an ERC-20 token issued on the Ethereum blockchain. Ethereum's proof-of-work consensus algorithm validates SWRV transactions. The Swerve treasury is controlled by a small group of multisignature key holders. The smart contracts were audited by Cryptic Labs and Peckshield, with no critical security flaws found. However, a security vulnerability was identified in the smart contracts in October 2020, and Swerve is working on a fix.

SWRV can be purchased on exchanges such as OKEx, Huobi Global, Binance, and MXC.COM. It can be traded against the U.S. dollar, cryptocurrencies such as Bitcoin (BTC) and Ether (ETH), and stablecoins such as Tether (USDT) and Binance USD (BUSD).

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