Clover Finance is a blockchain operating system that provides an Ethereum Virtual Machine (EVM) compatible foundation as well as a one-step, easy-to-use infrastructure for substrate-based apps. The project is built on the Substrate-based Polkadot parachain, which connects many blockchains to develop and operate DeFi apps. Clover Finance was established in May 2020, and its founders are well-known in the blockchain, gaming, and development industries.
The project was developed as a blockchain operating system including storage, smart contracts, DeFi protocol, and eApp layers. Even for those who are new to DeFi, the network provides a full-service cross-chain decentralized financial bridge and a portal to the world of DeFi. Clover allows developers to design and use cross-chain decentralized apps including dApps. It also makes it simple to install dApps without the need for additional virtual machines or network bandwidth.
Another purpose of the project is to create a gasless user interaction option, which would make cryptocurrency transactions easier for newbies. The SPV chain simulation technology is compatible with the Clover scripting layer, which provides easy-to-use opcode functionality for third-party dApp developers.
Clover Finance Token (CLV) is the network’s native utility token. It’s used to pay for network transactions (although users can use different tokens for this), as well as to vote on network upgrades. It can be used as a stake to run nodes, as well as a way for users to gain rewards for using the platform.
Who are the Founders of Clover Finance (CLV)?
Viven Kirby, Norelle Ng, and Burak Keçeli are the key founders of the Clover project. Clover Finance’s project lead is Kirby, an experienced enterprise resource planner. He formerly worked as a Microsoft Dynamics Architect for AXSource.
Clover Finance’s operations lead, Norelle Ng, is a seasoned blockchain professional with Human-Computer Interaction experience. She has worked as a consultant for Bithumb Global and Guru Online AdBeyond (Group) Limited, as well as the Amber Group’s head of client relations.
Keçeli is a well-known computer programmer who presently works as Clover Finance’s tech lead. Burak began his journey at the age of ten and went on to develop MBO Games and Staqq, an instant cross-border payments platform.
What is Clover Finance (CLV) Used For?
Clover Finance (CLV) is a Polkadot-based blockchain infrastructure platform aimed at cross-chain compatibility for DeFi applications. Clover transactions are paid with the CLV token, which can also be used to vote on network enhancements. Clover also aspires to make Bitcoin and other blockchains interoperable.
Clover Finance (CLV) is a company that handles gas fees. Clover Finance delivers to the market a new charges structure. The network features a gas fee schedule based on identity. Those who use the network more frequently and conduct more transactions pay lower rates. This technique rewards users while also assisting in the growth of the CLV token’s value.
A fee relay system is also included in the system. You can use this protocol to pay fees on behalf of other addresses. A portion of these fees is allocated to network nodes who maintain the blockchain, with the remainder going to dApp developers who create applications that can extend the network’s reach.
What is the Unique Point of Clover Finance (CLV)?
Clover Finance was established as a blockchain operating system to provide users with more than just one service. A storage layer, a smart contract layer, a DeFi protocol layer, and an eApp layer make up the network.
Clover is a cross-chain decentralized finance (DeFi) bridge that offers a comprehensive range of services. It gives a seamless entry point into the world of DeFi for everyone, including beginners. Clover allows developers to not only simple design and use DeFi, but also to create cross-chain decentralized apps (DApps).
Its eApp (external application, a descendant of dApps) layer enables developers to install eApps without the need for additional virtual machines or network traffic.
Clover enables relayers to act on behalf of the sender in a transaction and cover gas prices in the base currency while receiving reimbursement in the denominated asset. The transaction fees are deducted from the transacted assets when this method is used. The network also features a gas fee structure based on identity. Frequent users can now pay a lesser gas price according to how often they utilize the network.
How many Clover Finance Tokens (CLV) are in Circulation?
There are currently 128,777,778 CLV tokens in circulation; however, the total supply will be limited to 1,000,000,000 CLV tokens. The following is the distribution of the one billion tokens: 40% are currently being distributed as ecosystem incentives (36 months vesting); 15% were sold on Coinlist; 12 percent will be kept as a foundation (36 months vesting); 10% will be allocated to the development team (36 months vesting); 10% will be reserved for early backers (36 months vesting); 7.5 percent will be reserved for marketing (36 months vesting); 3 percent will be reserved as contributors grant (36 months vesting); 2.5 percent will be reserved as contributors grant (36 months vesting); 2.5 percent will be reserved as a contributor (18 months vesting).
Is the Clover Finance (CLV) Network Secure?
The development team placed a high premium on security. To safeguard users and data from hackers, they integrated enterprise-level defenses. All network functions, for example, use end-to-end secure communication. When signers notarize Polkadot block headers or act as witnesses for Ethereum VM instances, they are performing this function.
Clover Finance uses an enhanced Nominated Proof-of-Stake consensus technique to improve scalability and network responsiveness. This method allows users to become validator nodes or nominate others to become validator nodes. Nominees receive a portion of the benefits based on the number of tokens pledged.
Because there is no centralized governance organization in the Clover system, it is untrustworthy. Clover’s use of the Substrate architecture and Polkadot para chain technology brings added security and transaction speed to the network.
How Do I Buy Clover Finance (CLV)?
CLV has been listed on several crypto exchanges, however, unlike other major cryptocurrencies, it cannot be purchased directly with fiat currency. However, you may still buy this coin by first purchasing Bitcoin, Ethereum, USDT, or BNB on any significant exchange, such as Binance or KuCoin, and then transferring to an exchange that trades CLV. In this post, we will walk you through the methods to purchase CLV in detail. Before compiling a complete list, keep in mind that each exchange has its own set of costs and KYC criteria.
- Open an account with the crypto trading platform
- Transfer the specific amount of fiat currency to your account
- Wait for the deposit to be confirmed and buy CLV through the trading account.
Which Cryptocurrency Wallet Supports Clover Finance (CLV)?
The PTPWallet platform supports many cryptocurrencies simultaneously such as CLV. Because of its vast use case, it has grown to become one of the most used platforms as it serves as an exchange and an engine to discover other cryptocurrencies. Additionally, users can easily use PTPWallet as their Clover Finance wallet because offers a simple and interactive interface making it easy for people to navigate its system.