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

Techub 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, submitted by Curve Finance founder Michael Egorov, aimed to provide funding for the Swiss Stake team he manages, to be used for software development, infrastructure, security work, and ecosystem support. The voting results show that 54.46% of participants opposed the proposal, while 45.54% supported it. Voting data indicates that addresses associated with Yearn Finance and Convex Finance accounted for nearly 90% of the opposing votes. Community members commented in the forum that the proposal raised centralization concerns, questioning whether Curve's governance is overly reliant on a small group. Some members also suggested that Swiss Stake should better explain the use of past funds before new funding is approved.