CLVA, the native token of decentralized finance protocol CLEVER DeFi has witnessed a remarked price pump over the recent week. This is buoyed by the listing of the token on the popular decentralized exchange platform Uniswap.
It should be recalled that CLVA was listed on March 17 in the form of CLVA/ETH trading pairs. Investors and liquidity providers have thronged to provide liquidity and add CLVA to their portfolio.
From its initial listing price of 0.0020 ETH, the price of CLVA token has doubled to a High of 0.0044 ETH on the same day, with more crypto lovers showing interest in the Clever DeFi project. The Uniswap effect has occurred with CLVA, a major beneficiary.
The Clever DeFi community has grown as more people are attracted by the prospect of earning sustainable interest payments on their portfolio.
One of the reasons for the price increase is the features that CLVA offers to liquidity providers and token holders. CLVA makes yield farming easy and accessible to liquidity providers using a complex mechanism based on the ethereum blockchain network.
CLVA offers compounded interest payments for token holders and liquidity providers via its smart contract mechanism. Interests are paid at regular cycles across 14-day intervals offering token holders great value for their investment.
Also, CLVA token holders are not mandated to lock, or stake their tokens before receiving rewards and can also withdraw their CLVA tokens or swap to other cryptocurrencies without penalties or a waiting period.
The interest payment duration is 888 cycles that will end after 34.15 years. By this time, the token would be well established, and holders would have made sustainable profits holding their CLVA tokens.
Purchasing CLVA tokens on Uniswap enables investors to earn 0.3% from Uniswap trading fees as well as fortnightly interest payments from Clever DeFi.
Exciting times ahead for Clever DeFi
The listing on Uniswap continues the development of the Clever DeFI ecosystem. Since its launch in the second half of 2020, Clever has witnessed exponential growth due to the DeFi sector’s interest in sustainable yield farming protocols that Clever represents.
The Clever DeFi team deployed a zero initial supply mechanism whereby there were no pre-mined tokens before the minting phase. Since then, the team has continued in its quest to fully decentralize the protocol and establish it as one of the top DeFi yield platforms.
This started with the minting phase in February that offered CLVA tokens at the best possible price for early adopters. A total of 339,927 CLVA (726.50 ETH) was raised during the 30-day period spiked by interest from the DeFi community.
Ahead of the listing on Uniswap, the team had announced that the private keys to the liquidity wallets would be locked in a secure cloud-operated service encrypted using cryptography. The protocol decided to use a time-lock mechanism that will only enable access to the liquidity wallet private keys after 12 months. This essentially means that the dangers of a rug-pull scheme are eliminated providing added security to the Clever DeFi protocol.
Clever DeFi has also made arrangements with other exchanges, including P2PB2B, CoinsBit, and Hotbit to list CLVA tokens. The added listing in these exchanges will offer added liquidity for the token and spur an increase in CLVA tokens’ value.
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Published at Sat, 20 Mar 2021 09:00:39 +0000