The CRV token, also known as Curve DAO, is a governance token for Curve Finance. Curve Finance is an Automated Market Maker (AMM) based Decentralised Exchange (DEX). Launched in 2020, Curve allows users to trade between stable coins with low slippage and low fees. Curve is a time-based staking system allowing users to exchange CRV into an internal token intended for governance purposes and gives a right to holders to claim the cash flows generated by the protocol. This time-based system gives more experienced CRV holders more weight in decision making than a holder that is voting a proposal for the first time.