The Curve community has voted to reject the proposal to allocate 17.45 million CRV for R&D and team support.

On December 24, Curve Finance founder Michael Egorov proposed to pay Swiss Stake AG, the development company of Curve, 17.45 million CRV tokens (approximately $6.2 million) to support ecosystem development, technical research, and the ongoing development of lending protocols. Egorov stated that the funds would be used for software development, infrastructure and security improvements, and to support a core team of about 25 members at Swiss Stake AG. The planned objectives include launching and expanding the new lending system Llamalend, developing on-chain foreign exchange exchange features, and optimizing Curve’s user interface and cross-chain capabilities. However, voting results showed that 54.46% of participants opposed the proposal, while 45.54% supported it. Voting data indicated that addresses associated with the two major DeFi protocols Yearn Finance and Convex Finance accounted for nearly 90% of all opposition votes. Some community members expressed concerns that the proposal raised centralization worries and questioned whether Curve’s governance was overly reliant on a few individuals. Others suggested that before approving any new funds, Swiss Stake should better explain how previous funds were used. Curve community members also believed that past allocations had already distributed a large portion of protocol funds, and further funding could be “staged” to avoid negative impacts on the CRV price.