Conic, with the symbol CNC, is a decentralised finance (DeFi) protocol designed to facilitate liquidity providers on Curve Finance. The protocol enables users to earn yields from various liquidity pools specific to stablecoin exchanges, thereby diversifying their financial exposure.
Conic operates by leveraging blockchain technology, particularly the Ethereum blockchain, to manage liquidity pools and execute smart contracts for allocating funds across the Curve protocol. Users can provide liquidity into a Conic Omnipool that distributes funds according to pool weights controlled by the protocol. Conic aims to enhance security through encrypted transactions, with additional layers introduced in the Conic v2 update.
Conic offers several use cases, including liquidity provision across multiple Curve pools, yield farming optimisation, and risk management. It also supports decentralised governance through the $vlCNC token, allowing users to participate in decision-making processes related to liquidity allocation and protocol management.
Conic was officially launched on March 1, 2023, following a community-led funding initiative. Significant milestones include attracting substantial liquidity and achieving a market capitalisation of $32 million. The protocol underwent a notable update with the release of Conic v2, which introduced new features to increase security and efficiency in managing liquidity pools.