Clover Finance (CLV), often called just Clover, functions as a blockchain operating system. It provides a comprehensive, user-friendly blockchain infrastructure and an Ethereum Virtual Machine (EVM) compatible platform for applications based on Substrate.
As a project developed from the Substrate-based Polkadot parachain, Clover Finance aims to bridge the gap in compatibility for developers working across different blockchains.
Established in May 2020, Clover Finance launched its mainnet in July 2021.
Who Are the Founders of Clover Finance?
The driving forces behind Clover are Viven Kirby, Norelle Ng, and Burak Keçeli. Kirby, who has extensive experience in enterprise resource planning, leads the project. He previously held a position as a Microsoft Dynamics Architect at AXSource.
Norelle Ng, who guides Clover Finance's operations, has a rich background in blockchain and expertise in Human-Computer Interaction. Her past roles include advisory positions at Bithumb Global and Guru Online AdBeyond (Group) Limited, as well as managing client relations at Amber Group.
Serving as the tech lead, Burak Keçeli is a skilled computer programmer who began coding at the age of 10. He founded MBO Games and created Staqq, an effective cross-border payments platform.
What Makes Clover Finance Unique?
Clover Finance stands out by being more than a single-purpose service; it's a complete blockchain operating system. Its architecture includes a storage layer, a smart contract layer, a DeFi protocol layer, and an eApp layer.
The Clover network acts as a comprehensive cross-chain decentralized finance (DeFi) bridge, offering an intuitive entry point into DeFi for everyone, including beginners. Developers can effortlessly design and deploy DeFi apps, as well as decentralized applications (DApps) that operate seamlessly across different blockchains.
The eApp layer, an advancement over traditional dApps, lets developers deploy their applications without relying on external virtual machines or network bandwidth.
Clover allows transaction relayers to act on behalf of the sender, covering gas fees in the base currency and receiving reimbursement in the specified asset. In such cases, transaction fees are taken from the assets being transacted.
Moreover, the network offers a user-based gas fee schedule, reducing fees for those who frequently use the platform.
How Many Clover Finance (CLV) Coins Are There in Circulation?
At present, there are 128,777,778 CLV tokens in circulation, with a maximum cap set at 1,000,000,000 CLV tokens.
The total supply of one billion tokens is allocated as follows: 40% are used as ecosystem incentives with a 36-month vesting period; 15% were sold on Coinlist; 12% are retained by the foundation with a 36-month vesting period; 10% are designated for the development team, also with a 36-month vesting; 10% are reserved for early supporters with a 36-month vesting period; 7.5% are set aside for marketing with a 36-month vesting; 3% are earmarked as grants for contributors with a 36-month vesting; and 2.5% are available for a private sale to qualified investors with an 18-month vesting period.
How Is the Clover Finance Network Secured?
Clover Finance operates as an open project governed by the community. The CLV token serves multiple functions within the ecosystem, being used for governance and voting on system modifications.
Token holders can appoint node validators with a simple click within the network, utilizing a proof-of-stake (PoS) consensus mechanism. This allows them to stake their CLV tokens and help validate transactions within Clover's validator infrastructure.
Clover operates without a central governing entity, ensuring a trustless system. The adoption of the Substrate framework and Polkadot parachain technology adds an extra layer of security and speed to transactions on the network.
Where Can You Buy Clover Finance (CLV)?
Clover Finance (CLV) can be purchased directly with fiat money on major centralized exchanges or through token swaps on various platforms. Some prominent exchanges where you can trade CLV include Binance, Coinbase Exchange, OKEx, KuCoin, Hotcoin Global, Gate.io, and Bithumb Global.
For an in-depth understanding of Clover Finance, explore our detailed analysis.
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