What is Clover Finance?

Clover is a popular choice among investors looking to trade altcoins. However, before you Trade CLR, it is essential that you know what you are investing in. Let's find out what's Clover and how it works.

For those unfamiliar, Clover Finance (CLV) is a blockchain OS. It gives developers of Substrate-based apps a single, streamlined location from which they can access the blockchain's underlying infrastructure and a framework that is compatible with Ethereum's virtual machine (EVM).

With the goal of making developing and running applications on several blockchains easier, Clover Finance is another offspring of the Polkadot parachain built on Substrate. Clover Finance's mainnet went live in July 2021, and the project was officially founded in May 2020.

How is Clover Finance different?

Since it was developed as a blockchain OS, Clover Finance was conceived to provide its customers with a wide range of options. The network has several layers: storage, smart contracts, the DeFi protocol, and the eApp layer.

When it comes to decentralized finance (DeFi), the Clover network is a one-stop shop. It provides a faultless entrance for everyone, including novices, into the world of DeFi. With Clover, developers not only have a simple tool for making and deploying DeFi, but also one for making DApps that are compatible with many blockchains.

Developers may quickly deploy their eApps (external application; an improvement on dApps) thanks to its eApp layer, which does not require any additional virtual machines or bandwidth.

Relayers in a Clover transaction can act on behalf of the sender, paying gas fees in the base currency while being compensated in the denominated asset. When this is used, the transaction fees are deducted from the transacted assets.

The network further implements a gas pricing structure dependent on the user's unique identifier. This lets regular network users pay lesser gas fees.

How many CLV tokens are in circulation?

CLV tokens have a maximum supply of 1,000,000,000 CLV tokens. The tokens are allocated as follows:

• 40% are ecosystem incentives (36-month vesting).
• 15% were sold on Coinlist.
• 12% will be maintained as foundation (36 months vesting).
• 10% will be allocated to the development team (36 months vesting).
• 10% are booked for early backers (36 months vesting).
• 7.5% will be reserved for marketing (36 months vesting).
• 3% will be reserved as contributors grant (36 months vesting).
• 2.5% will be sold privately to qualified investors (18 months vesting).

Network Security

As a community-driven open-source project, Clover Finance relies on input from all members. In the Clover Finance system, the CLV token has several potential applications. For governance and voting on system improvements, CLV is employed.

CLV token holders may deploy network node validators with a single click. By staking their CLV tokens, holders may help validate transactions on the Clover network's validator infrastructure, which is chosen using a proof-of-stake (PoS) consensus layer.

The Clover network is a trustless system with no centralized governance entity. Additional security and faster transaction times are provided by the Substrate architecture and Polkadot parachain technology that Clover has implemented.

Founders

Clover was founded by Viven Kirby, Norelle Ng, and Burak Keçeli. Clover Finance's project management is headed up by Kirby, a seasoned enterprise resource planner. Previously, he was a Microsoft Dynamics Architect at AXSource.

Norelle Ng, Clover Finance's operations head, is an accomplished blockchain expert with a background in HCI. She is the former head of client relations at Amber Group and has worked as an adviser for Bithumb Global and Guru Online AdBeyond (Group) Limited.

Keçeli is an esteemed computer programmer and the current technical lead of Clover Finance. From his early beginnings at age 10, Burak has gone on to develop MBO Games and Staqq, an instant cross-border payments platform.

Where Can You Buy CLV?

CLV is available on the licensed cryptocurrency exchange CryptoForce and several other national and international exchanges.

Disclaimer: Cryptocurrencies are highly volatile and subject to market, technical, and regulatory risks. Crypto trading requires one’s own diligence, and Cryptoforce will not be responsible for any losses incurred. Any information provided here should not be regarded as Cryptoforce’s technical or financial advice.