Clover Finance (CLV)
An Infrastructure Platform for Cross-Chain Compatibility.- Clover Finance is an infrastructure platform focused on cross-chain compatibility and enables developers to bridge DeFi dApps between Ethereum and Polkadot. It contains a storage layer, smart contract layer, DeFi protocol layer, and external dApp layer that work in unison to accomplish blockchain interoperability.
- CLV is Clover Finance's native utility token and is used in the following functions:
- Governance: CLV token holders can vote on network governance decisions.
- Transaction Fees: Users will require CLV tokens to pay for network transactions. There is an option to pay fees on behalf of other addresses, and act as a "Relayer".
- Network Consensus: Users can stake CLV tokens by running a validator node, or via a nominated validator (nominated PoS). This allows users to participate in the network consensus. Note that staked tokens may be slashed if the validator node misbehaves.
- The platform consists of the following major components working in conjunction:
- SPV Chain Simulation Technology: A trustless two-way peg system between blockchains, with cross-chain communication capabilities.
- EVM Compatibility Infrastructure: Enables the easy migration of existing dApps from Ethereum onto Clover Finance.
- Gas Fee Re-distribution: A redesign of Ethereum’s gas model, which distributes part of the gas fees to network nodes maintaining the network, and the other goes dApp developers.
- Gas Fee Innovation: Introduces “Relayers”, which are users that cover gas fees in CLV token on behalf of other users. In return, Relayers will receive compensation in the denominated asset.
- The project raised 38.85MM USD from their Coinlist token sale, where 15.00% of the CLV total token supply has been sold at the following token sale prices: 0.20 USD / CLV, 0.29 USD / CLV, and 0.35 USD / CLV.
- As at July 29th 2021, the total supply of CLV is 1,000,000,000 and the current circulating supply is 128,777,778 (~12.9% of the total token supply).