Curve DAO rejects proposal to allocate 17.4 million CRV tokens to core development company Swiss Stake

Foresight News reports that 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 Curve Finance. The proposal was submitted by Curve Finance founder Michael Egorov and aimed to fund the Swiss Stake team for software development, infrastructure, security work, and ecosystem support. Voting results showed that 54.46% of participants opposed the proposal, while 45.54% supported it. Data from the vote indicated that addresses related to Yearn Finance and Convex Finance accounted for nearly 90% of the opposition votes. Community members commented on the forum that the proposal raised concerns about centralization, questioning whether Curve’s governance is overly dependent on a small group. Some members also suggested that Swiss Stake should better explain how previous funds were used before approving new funding.