Mid-Term Review and Grant Extension Proposal
Swiss Stake AG
Delivering on Our Commitment to the Curve DAO Community
March 2026
Executive Summary
This report fulfills the commitment made by Swiss Stake AG to the Curve DAO community at the time of the amended grant proposal in December 2025. We committed to conducting a thorough review of our costs, organizational structure, and long-term funding sustainability, and to presenting the results to the community by the end of Q1 2026. This document delivers on that commitment.
The review has led us to five main conclusions, which are outlined in detail throughout this report:
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Our cost base is already lean. A bottom-up review of all spending categories confirms that Swiss Stake AG’s current structure is tightly focused on protocol development, research and security. Meaningful cost reductions without compromising the quality or development velocity for new Curve software elements are limited.
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Organizational adjustments have been made to increase efficiency. Five functional Team Leads have been appointed and are already in place, covering Smart Contracts, Frontend, Research, Community Management and Business Development. Each lead owns their roadmap, drives delivery within their area, and is accountable for resource allocation and reporting. This is already live, not a plan.
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Two improvements have been identified in relation to security audit spending. Two improvements have been identified in relation to security audit spending. First, through better planning, improved timing and closer collaboration with audit providers, we are confident that total audit expenditure can be reduced from a projected CHF 1.4 million to a range of CHF 900,000 to CHF 1,000,000 in 2026, without any reduction in audit quality or coverage. Second, the funding of security audits could be transitioned to the Curve DAO directly, improving transparency and DAO oversight.
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We are requesting Phase 2 funding through 31 December 2026. The December 2025 amendment structured the grant in two phases: Phase 1 (8,725,000 CRV) covered H1 2026, with Phase 2 contingent on this review. Due to a significant decline in the CRV price since Phase 1 was received, the effective runway has been reduced from six to approximately four months. We are requesting that the DAO approve Phase 2 funding to cover the remainder of 2026, together with a modest top-up to restore the runway shortfall caused by the price decline.
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We are committed to long-term DAO sustainability. This report also presents a concrete roadmap toward sustainable funding, including a proposed increase in the DAO protocol fee share, a legal restructuring into a Swiss Association model, and four revenue-generating initiatives currently under assessment.
Swiss Stake AG’s mission has always been to develop and maintain Curve at the highest level. This report is about being transparent with the community we serve, and about building a more sustainable model together.
1. Q1 2026: Development, Research and Ecosystem Activity
Notwithstanding the grant and organisational discussions that occupied much of Q1, the Swiss Stake AG team has continued to ship. Below is a summary of the key development, research, and ecosystem activities during the quarter, followed by a preview of what is coming next.
1.1 Technical Development
Q1 2026 was a productive quarter on the smart contract front. The team continued advancing the Llamalend v2 codebase, with the lending stack entering final internal review and external audit preparation. Key engineering efforts focused on enabling LP token collateral support, introducing PT looping strategies, and implementing the admin fee mechanism for non-crvUSD markets. These changes represent a meaningful architectural step forward, bringing Curve’s DEX and lending layers into closer integration.
1.2 Research
Research activity in Q1 centred on three areas. First, the team advanced AMM simulation and stress-testing tooling to support parameter calibration for both Cryptoswap and FXSwap pool configurations. Second, ongoing research into crvUSD market dynamics and oracle design contributed directly to the Llamalend v2 architecture. Third, early-stage modelling work for FX pool pricing and non-USD stablecoin liquidity was initiated, providing a quantitative foundation for the FXSwap expansion roadmap. Findings from these workstreams were shared internally and with selected ecosystem partners ahead of broader community publication.
1.3 Business Development and Ecosystem
Business development activity in Q1 was centred on advancing Curve’s FXSwap and issuer-focused liquidity strategy, while also laying commercial groundwork for Llamalend v2. This included progressing active discussions with stablecoin issuers, ecosystem partners, and prospective liquidity counterparts, with a particular focus on EUR-denominated liquidity and the conditions required to make new pools viable. Several FX-oriented and low-volatility pools were brought live during the quarter, including EURe on Gnosis Chain, tGBP on Ethereum mainnet, and the iREET real-world asset pool. In parallel, business development efforts also supported market development for upcoming lending opportunities tied to Curve’s broader liquidity and collateral strategy. This work has strengthened the pipeline for further launches in Q2. The business development function was reduced from three to two FTEs at the end of March as part of the broader efficiency review.
1.4 What is Coming Next
The central priority for the coming quarters is the full launch of Llamalend v2. The codebase has completed internal review and is currently undergoing external security audits. Upon completion, Llamalend v2 will introduce LP token and PT collateral support, enable non-crvUSD lending markets with direct admin fees accruing to the Curve DAO, and support PT looping strategies that increase the productivity of Curve liquidity. This is the most significant product release in Curve’s lending roadmap to date, and it creates a clear and direct monetisation path for the protocol. In parallel, FXSwap continues to be a strategic priority. Our view is that non-USD stablecoins, with EUR leading the way, will continue to grow on-chain, and that Curve is the natural home for this liquidity. Additional FX-oriented pools are planned for Q2, with further EUR issuers in active discussion. Beyond FX, FXSwap’s architecture is also a natural fit for real-world assets and other low-volatility on-chain instruments. Over time, FXSwap pools are expected to provide liquidity and price oracles for new Llamalend v2 lending markets, making the two initiatives directly complementary. Further detail on the pipeline is provided in Section 6.
2. Cost Review
As committed in the amended proposal, Swiss Stake AG has conducted a comprehensive bottom-up review of all spending categories. The review was designed to identify areas where meaningful reductions could be made without compromising protocol stability or development quality.
2.1 Spending Categories
Swiss Stake AG’s operational budget spans two distinct categories of activity: Those directly related to the development and support of the Curve protocol, which are funded through DAO grants, and those related to Swiss Stake AG’s own proprietary initiatives, which are self-funded and explicitly excluded from grant requests. This distinction is set out below for transparency.
Curve DAO Grant-Funded Activities
• Core software development
• Front-end development
• Community and technical support
• Research and analytics
• Security audits
• Infrastructure
Swiss Stake AG Proprietary Activities (Self-Funded, Excluded from Grant Requests)
• Business development related to proprietary revenue initiatives
• Overhead and administration
All costs in the proprietary category, including overhead, administration and proprietary business development have not been and are not part of any previous or current grant request to the Curve DAO.
2.2 Review Conclusions
The review confirms that Swiss Stake AG’s cost base is already tightly structured and strongly oriented toward engineering and protocol development. The majority of spending is directly tied to activities that are essential to provide software which is beneficial for Curve’s stability, security, and growth.
According to our understanding, blunt cost cuts in core engineering, security, or infrastructure are not the answer. Reducing headcount or deferring audits to hit a lower number would directly degrade the security and development velocity of the Curve software products developed by Swiss Stake AG, the two things the DAO is ultimately paying for. While it is of course the DAO’s decision which level of quality and velocity it wants to finance, we do not recommend making compromises in this regard.
Where we do see real upside is operational efficiency, shipping faster, reducing rework, and getting more output per unit of spend. The introduction of functional Team Leads (see Section 5.0) is the primary driver here: clearer ownership means fewer coordination issues, less duplicated effort, and tighter feedback loops between protocol development and deployment. In a fast-moving on-chain environment, that kind of structural improvement compounds quickly
One area where we have identified meaningful improvement is security audit spending. Through better planning, improved timing of audit engagements and closer collaboration with providers, we are confident that total audit expenditure for 2026 can be reduced from a projected CHF 1.4 million to a range of CHF 900,000 to CHF 1,000,000, representing a saving of CHF 400,000 to CHF 500,000 without any reduction in the quality or coverage of security reviews. Beyond this efficiency saving, we are also proposing a structural change to how audit funding is governed, which is addressed in Section 2.3 below.
2.2.1 Immediate Measures Already Implemented
As committed in the December 2025 amendment, several cost-saving measures were put in place immediately and are already in effect:
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Hiring freeze: An immediate hiring freeze is in place. No new headcount additions are planned for the duration of the review period.
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No merit-based compensation increases: No new cost elements or merit-based salary increases are planned during this period.
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Conference and travel: Conference participation and related travel will be kept to a strict minimum throughout 2026. Yes, Swiss Stake AG will represent Curve at StableSummit on stage and be present at EthCC, however, we limit our participation in overseas conferences to an absolute minimum.
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Business development function review: Swiss Stake AG has reviewed the current setup of the business development function to assess whether further streamlining is appropriate, while ensuring the ability to continue supporting partners on deployments, parametrisation, and monitoring. As per the end of March, the respective team has been reduced from 3 to 2 FTEs.
The community asked us to look carefully and honestly at our costs. We have done so. The answer is not to cut, it’s to get more done with what we have. Efficiency gains through better structure and clearer ownership are the lever, and we’re pulling it.
2.3 Security Audit Funding: A Proposed Structural Change
Security audit spending is an area where we have identified two distinct improvements: an operational efficiency saving and a governance structural change.
Operational Efficiency: Reduced Audit Spend for 2026
Through better planning of the audit pipeline, improved timing of engagements across the development calendar, and closer ongoing collaboration with our audit providers, we are confident that total security audit expenditure for 2026 can be reduced from a previously projected CHF 1.4 million to a range of CHF 900,000 to CHF 1,000,000. This represents a saving of CHF 400,000 to CHF 500,000 compared to the prior projection. Critically, this reduction is achieved through efficiency and coordination rather than by reducing the scope or frequency of security reviews. The quality and rigour of the audit programme remains unchanged.
Governance Structural Change: Transition of Audit Funding to the DAO
In addition to the efficiency saving, we propose that the funding of security audits be transitioned from Swiss Stake AG’s operating budget to the DAO directly. This change would have the following benefits:
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Transparency: The DAO would have direct visibility over security audit expenditure, rather than seeing it as a line item within Swiss Stake AG’s broader budget.
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Oversight: The DAO would be able to approve, review, and provide input on security audit scope and provider selection.
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Reported cost reduction: Swiss Stake AG’s reported cost base would decrease, reflecting the shift of this expenditure to the DAO treasury.
We believe this is a meaningful improvement in governance and transparency, and we welcome the community’s feedback on the mechanism for implementing it.
3. Community Managers
As part of this review, we have carefully assessed the role and contribution of our community managers. This topic received attention during the December 2025 discussions, and we want to address it directly and transparently.
3.1 Current Structure
Swiss Stake AG currently works with 7 community managers who support the Curve ecosystem across a range of functions, including:
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User support and issue triage across Telegram, Discord, and other channels
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Community engagement and moderation
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B2B support and protocol partner interactions
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Educational content and onboarding
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Event participation and ecosystem representation
3.2 Our Assessment
After a thorough internal review, we consider the contributions of our community managers to be genuinely valuable to the Curve network. Several of our community managers have been active in the Curve ecosystem for five years or more, working long hours, including weekends, to maintain the quality of support that the community has come to expect.
We are aware that the community has raised questions about whether 7 community managers is the right number. We take this feedback seriously. Our assessment is that the current team provides a level of quality, availability, and protocol-specific expertise that would be difficult to replace or reduce without meaningful impact on community experience.
At the same time, we have conducted research into the role that AI-assisted tooling can play in community support. We are confident that AI can handle a meaningful portion of routine and repetitive support requests, including standard protocol questions, onboarding guidance, and issue triage. This allows our community managers to focus their time and expertise on the higher-value interactions where their protocol knowledge and relationships make the real difference. We intend to share more detail on how we are integrating these tools as part of our next quarterly report.
More broadly, we are actively exploring how AI-assisted tooling can help our teams work more effectively across other functional areas, including front-end development. The goal is to give our people better tools, not to replace them. We will report back on findings as part of our ongoing operational reviews.
We also note, as discussed during the December 2025 exchanges, that several of our community managers extend their support beyond community moderation into business development and partner interactions. This broader contribution is not always visible but is reflected in the quality of Curve’s ecosystem relationships.
4. Grant Runway and Extension Request
4.1 Current Runway Situation
The amended grant approved by the Curve DAO in December 2025 structured funding in two phases. Phase 1 comprised 8,725,000 CRV, half of the originally requested total, intended to fund approximately six months of Swiss Stake AG’s operations through H1 2026, with Phase 2 contingent on the successful completion of this review. Since the Phase 1 grant was received, the price of CRV has declined significantly, with the result that the effective operational runway has been reduced to approximately four months.
| Grant approval | December 2025 |
|---|---|
| Intended coverage | H1 2026 (approx. 6 months) |
| Effective coverage (post price decline) | Approx. 4 months |
| Funding gap | Approx. 2 months of operations |
This situation is not a result of overspending or budget mismanagement. It reflects the inherent volatility of CRV as a funding currency, which is a structural challenge for any DAO-funded operation.
4.2 Grant Extension Proposal
Swiss Stake AG respectfully requests that the Curve DAO approve the following:
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Grant extension: Extend the operational grant through 31 December 2026, covering the full year as originally intended by the spirit of the December 2025 vote.
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The Phase 2 vote does not affect the CRV already received under Phase 1 of the grant. That allocation will be deployed in full in accordance with the conditions agreed at the time of the December 2025 DAO vote.
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Top-up allocation: A modest additional CRV allocation to compensate for the runway shortfall caused by the price decline, restoring the operational runway to the level originally intended by the DAO.
We believe this is a fair and straightforward request. The DAO voted to fund Swiss Stake AG for H1 2026. The spirit of that vote was to ensure operational continuity and allow Swiss Stake AG to deliver on its commitments. Extending the grant through the end of year, with a modest top-up to address the price impact, is consistent with that intent.
We are not asking for more than what the DAO originally intended to provide. We are asking for the runway we need to do the work the community expects of us.
5. Structural Reform Toward Sustainable DAO Funding
The Curve community made it clear during the December 2025 discussions that long-term sustainability must improve. Swiss Stake AG fully agrees. This section outlines the concrete steps we are proposing to build a more resilient and transparent organizational model.
5.1 Organisational Review
As committed in the December 2025 amendment, Swiss Stake AG has conducted a review of its operating model with the objective of improving accountability, transparency, and cost efficiency. This section summarises the findings and the measures being implemented.
5.1.1 Team Structure and Functional Accountability
The review has assessed whether clearer functional team definitions and designated areas of responsibility would improve accountability and operational efficiency. The answer is yes, and the change has already been made. Five functional Team Leads are now in place, covering Smart Contracts, Frontend, Research, Community Management and Business Development. Each lead takes full ownership of roadmap delivery within their area, coordinates directly with management and the board, and is accountable for staffing, budget input, and operational reporting. This is not a structural proposal, it is already live. The model is designed to preserve the flexibility required in a fast-moving on-chain environment while eliminating the coordination overhead that comes with flat structures at this team size. Clearer ownership means fewer handoff issues, less duplicated effort, and faster decision-making, and we expect this to compound meaningfully over H2 2026.
5.1.2 Budget Visibility and DAO Oversight
Swiss Stake AG proposes to assess whether assigning budget responsibility at a more granular functional level would improve discipline and transparency. Where beneficial, indicative budgets may be prepared and reviewed by Swiss Stake AG before being consolidated into an aggregated funding proposal for the DAO. This may result in certain areas being funded directly by the DAO in the future, rather than via Swiss Stake AG.
5.2 Protocol Fee Increase: 10% to 30%
Swiss Stake AG proposes to submit a governance vote to increase the DAO protocol fee share from the current 10% to 30%. This change would:
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Increase DAO revenues: A higher fee share directed to the DAO treasury would meaningfully increase the resources available for ecosystem funding, reducing the DAO’s reliance on token sales.
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Create a path to fee-based funding: As Curve’s protocol revenues grow, a higher fee share creates the conditions under which Swiss Stake AG could eventually be funded using protocol revenues rather than CRV grants.
We are aware that this change has implications for veCRV stakers, wrappers and other stakeholders. We commit to engaging openly with the community on the design and timing of this proposal.
5.3 Legal Restructuring: Creation of a Swiss Association
Following consultation with our legal counsel, Swiss Stake AG is proposing a structural separation into two entities:
| Swiss Stake AG | Swiss Association (new) |
|---|---|
| Core software development | Ecosystem stewardship |
| Front-end development | Community support and management |
| Research and analytics | Website, education, events |
| Security audits | Partly UI and front-end operations |
| Business development | Administrative matters |
| Overhead (software development) | Overhead (association) |
This structure has several important benefits:
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Clarity of purpose: Swiss Stake AG would focus entirely on software development and revenue-generating activities. The Swiss Association would handle ecosystem stewardship and community functions, with a non-profit mandate that is more naturally suited to receiving DAO grants for operational activities.
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Governance separation: The Association would have a diversified membership, ideally including respected community members and heavy users of Curve. This provides meaningful governance separation.
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Overhead transparency: Under this structure, overhead and administrative costs can be more clearly articulated and justified, both for Swiss Stake AG (which would charge margin as a software development company) and for the Association (which as a non-profit entity can more readily justify operational costs to the DAO).
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VAT and tax efficiency: With appropriate structuring, the Association can register for VAT purposes by defining a portion of its activities as services rendered to the DAO, enabling input tax deductions.
We intend to present a detailed proposal for this restructuring alongside the protocol fee increase proposal. According to our understanding this is the right sequencing, as it allows us to present a coherent and complete picture of the new structure to the community.
5.4 Transition of Security Audit Funding
As set out in Section 2.3, Swiss Stake AG has identified two improvements in relation to security audit spending. Operationally, through better planning, timing and collaboration with audit providers, total audit expenditure for 2026 is expected to be reduced from a projected CHF 1.4 million to a range of CHF 900,000 to CHF 1,000,000, without any reduction in audit quality or coverage. In addition, we propose to transition the funding of security audits from Swiss Stake AG’s operating budget to the Curve DAO directly, improving governance transparency and DAO oversight over audit scope and provider selection.
5.5 Governance and Reporting
Swiss Stake AG commits to the following going forward:
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Quarterly operational reports covering spending, development progress, and revenue initiative updates
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Proactive engagement with the community on structural milestones, including the protocol fee vote and association establishment
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Early and transparent engagement on the next grant proposal, with sufficient time for community comment
6. Revenue Initiatives
Swiss Stake AG has developed and economically validated four revenue initiatives which are expected to generate significant income for Swiss Stake AG over the late 2026-2027 period and beyond. While being proprietary initiatives generating revenue for Swiss Stake AG, these initiatives as well as further such proprietary developments in the future add more functionality and increase interest in the Curve Ecosystem features in general. Furthermore, this shift enables a more efficient and scalable development process. Any developments which are monetizable can be conducted without obtaining grant funding from the Curve DAO as these are “self-funding” and the established Curve DAO funding process will be reserved for non-monetizable elements to be developed as per the instructions of the Curve DAO. Thus, much more functionalities can be added to the Curve Ecosystem without increasing monetary or administrative burden for the Curve DAO.
Currently, the second stage of the validation of the revenue initiatives, the legal and regulatory assessment of the actual implementation options, is being conducted.
Initiative 1: Advanced Trading Interface with Profit-Sharing Model
Curve’s lending application features a unique liquidation protection mechanism which allows positions to “unliquidate” if they move below the liquidation price and recover above it, a capability unmatched by any other application. Our observations show that the biggest users of this product are not typical borrowers but leverage traders, despite the current UI being designed for traditional lending and borrowing, which is inconvenient for their needs.
To make full use of this unique advantage, Swiss Stake AG will build an advanced and fully decentralized trading interface alongside the existing Curve UI, focused specifically on leverage trading. The core business model: When a user makes a gain on a leveraged trade via such interface, a share of that profit goes to Swiss Stake AG as software license fee. The mechanism is enforced at the smart contract level, positions cannot be unwound without the licence fee being settled first. There is no counterparty risk and the process is fully automated.
This unique liquidation protection mechanism, packaged within a familiar and accessible trading UI, is a compelling differentiator that we expect to be a significant driver of user adoption.
Initiative 2: Protocol Fee on Leverage Swaps
Initiative 2 targets the same leverage swap activity as Initiative 1, but through a simpler and more immediately implementable mechanism: a small protocol-level license fee on each swap, again via a decentralized smart contract infrastructure and, with proceeds going directly to Swiss Stake AG. We are working with approximately 2 basis points as a planning assumption, though the exact rate is not yet fixed.
Critically, YB (Yield Basis) creates borrow capacity for both Initiative 1 and Initiative 2 when operating as intended. The two initiatives are therefore complementary and mutually reinforcing, sharing the same underlying transaction flow. Initiative 2’s lower implementation complexity means it can generate revenue sooner, while Initiative 1 captures the larger profit-sharing upside as volumes grow.
Initiative 3: High Leverage Application
Currently, leverage on possible spot markets is around 10 times smaller than on perpetual futures (perps) platforms. This is why almost all the traders are trading perps instead of spot leverage, despite perps markets being highly susceptible to manipulations. Moreover, markets for perpetual futures are usually orderbook-based and relying on market makers working there - it’s still old good CeFi, albeit on DeFi rails (e.g. Hyperliquid).
Our research indicates that by using liquidation protection (aka soft liquidation) algorithms and risk aggregation for lenders (e.g. with lenders providing liquidity in multiple markets and allowing lent value to go both up and down when volatility risks get realized, just like Hyperliquid LPs), it is possible to achieve leverage on spot markets similar to perps (e.g. 50x-100x for BTC and ETH), with a much lower average liquidation risk, and without the need for market makers to be involved at all. This would make it a potentially highly attractive product for leverage trading
and a direct extension of our work on Llamalend v2.
We think that this product deserves to have its own governance and revenue token with allocation generously shared with Curve DAO (e.g. the DAO being probably the biggest token recipient), but also inviting other contributors for this token issuance. This round and token distribution would serve several purposes:
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Bridge financing: Providing immediate liquidity to bridge Swiss Stake AG’s financing needs during the development phase.
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Team retention: Incentivising and retaining the development team, ensuring continuity of the core engineering capability.
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Community alignment: The Curve DAO community would receive a meaningful token allocation, aligning community participation incentives with the success of the product.
This initiative would be structured in close coordination with the Curve DAO to ensure community alignment and governance integrity. No final design decisions have been made, and the community’s input will be sought before any launch.
Initiative 4: Non-USD Stablecoin Pairs
The market for non-USD stablecoin pairs is currently limited because the necessary algorithmic infrastructure does not yet exist. Swiss Stake AG is well-placed to build it. We will research, develop, and deploy the algorithms needed to enable efficient non-USD stablecoin pools on Curve, covering EUR, CHF, GBP and other major currencies.
This addresses a real structural gap in DeFi and could create an entirely new category of on-chain foreign exchange liquidity, relevant for both institutional and retail participants. We firmly believe that the future of the industry, which currently sees up to CHF 10 trillion in trading volume daily, is on-chain.
While non-USD stablecoin infrastructure has the potential for significant impact and substantial monetary value, it is a serious long-term undertaking that will take several years to fully unfold. We are investing in it now to be positioned as the definitive infrastructure provider when the market matures.
The first step and necessary ingredient of this is FX Swap. However, it would show its true potential only when combined with decentralized asset issuance, and the combination is what this initiative is about.
Together, these four initiatives have the potential to generate significant and diversified revenue for Swiss Stake AG as well as valuable additional functionalities for the Curve ecosystem, reducing reliance on grants and building long-term financial resilience. We are excited to develop these further and to share progress updates with the community on a quarterly basis.
7. Formal Proposal Ask
Based on the review and analysis set out in this report, Swiss Stake AG respectfully requests that the Curve DAO approve the following:
7.1 Phase 2 Grant Approval
Approve Phase 2 funding as contemplated by the December 2025 amendment, covering Swiss Stake AG’s operations through to 31 December 2026. This report fulfills the conditions set for Phase 2 to be triggered, as it presents the findings of the organisational and cost review committed to at the time of the amendment.
The Phase 2 vote does not affect the CRV already received under Phase 1 of the grant. That allocation will be deployed in full in accordance with the conditions agreed at the time of the December 2025 DAO vote.
7.2 Runway Top-Up
Provide an additional CRV allocation sufficient to restore the operational runway to the level originally intended by the December 2025 DAO vote, compensating for the shortfall caused by the decline in CRV price since the grant was received.
7.3 Structural Commitments
In exchange for the grant extension, Swiss Stake AG commits to the following during 2026:
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Submit a governance vote to increase the DAO protocol fee share from 10% to 30%
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Establish a Swiss Association for ecosystem stewardship and community functions
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Reduce security audit expenditure to CHF 900,000 to CHF 1,000,000 through efficiency and planning improvements, and transition security audit funding to the DAO treasury
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Develop and launch at least one revenue-generating initiative
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Provide quarterly operational reports to the community
7.4 Reporting and Accountability
Swiss Stake AG will maintain an active and transparent presence in the Curve governance forum, providing:
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Quarterly operational and financial reports
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Progress updates on the structural reform roadmap
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Early and open engagement on the next grant proposal, with full time for community comment
7.5 Protocol Fee Increase Proposal
Swiss Stake AG formally requests that the Curve DAO approve the submission of an on-chain governance proposal to increase the protocol fee from the current 10% to 30%. This increase is in the direct interest of DAO sustainability: a larger fee share directed to the DAO treasury reduces reliance on CRV grant allocations over time and creates a path toward protocol-revenue-funded development. Swiss Stake AG commits to preparing and submitting this proposal in Q2 2026, with full community consultation ahead of the vote.
Closing Remarks
Swiss Stake AG has been building and supporting Curve for years. We are proud of what the team has achieved and deeply committed to continuing to do so. We understand that the community’s expectations around transparency, accountability, and sustainability have grown, and we believe those expectations are right.
This report is our honest attempt to meet those expectations. We have reviewed our costs carefully, engaged with our legal counsel on structural reform, and developed a concrete roadmap towards sustainable DAO funding. We are asking for what we need to continue delivering, and we are committing to meaningful change in return.
We welcome community feedback, questions, and discussion. The Curve community’s engagement and scrutiny make this ecosystem stronger, and we are grateful for it.
We are committed to Curve’s long-term success. We ask for the community’s continued trust and support as we build toward a more sustainable and transparent future together.
