What is CLV (CLV)?

CLV (formerly Clover Finance) is a Substrate-based, Ethereum virtual machine (EVM) compatible blockchain infrastructure platform that focuses on interoperability across various blockchains and multi-chain and cross-chain compatibility for DeFi applications. It was created as a blockchain operating system and includes a cross-chain wallet, layer 1 blockchain, smart contract platform, and multi-chain DeFi hub. A storage layer, a smart contract layer, a DeFi protocol layer, and an eApp (external application, a development of dApps) layer are all present in the network.

The History of CLV

The infrastructure layer for CLV was introduced in May 2020, and the mainnet became live in July 2021. CLV disclosed a $3 million round in February 2021, with funding from Polychain, Hypersphere, Bithumb Global, and Divergence Ventures. Additionally, Alameda Research, Huobi, and OKex's Ventures Arm support the business. The sixth Polkadot auction was won by Clover Finance with a total DOT raised of 9,752,487 in December 2021.

Viven Kirby, Burak Keçeli, and Norelle Ng formed CLV in 2020. Originally known as Clover Finance, the business changed its name to CLV on March 10, 2022, with the claim that CLV stands for Connectivity, Legible, and Versatile.

The Use Case of CLV

Users can connect to EVM-based, PolkadotJs-based, Solana-based, and Tron-based dApps simultaneously with the CLV Wallet without switching networks. The native token of CLV Chain is $CLV, which is staked in order to participate in network consensus, transaction costs, platform incentives, and network governance.