The developers of the Curve Finance decentralized exchange have deployed smart contracts for the crvUSD decentralized stablecoin on the mainnet.
As many figured — deployment of crvUSD smart contracts has happened!
This is not finalized yet because UI also needs to be deployed. Stay tuned!
— Curve Finance (@CurveFinance) May 3, 2023
“This is not yet complete as the user interface is also to be rolled out. Follow the news!” the representatives of the project noted.
DeFi platform Llama said the key metrics of the new asset are already being tracked.
Now tracking $crvUSD on @ethereum
crvUSD is a collateralized-debt-position (CDP) stablecoin pegged to the US Dollar pic.twitter.com/IOfAIBtB8u
— DefiLlama.com (@DefiLlama) May 4, 2023
The USD-pegged “stablecoin” from Curve Finance will use an over-collateralized model similar to DAI from the MakerDAO project.
The stablecoin is built on the Lending-Liquidating AMM (LLAMMA) algorithm, which continuously liquidates and automatically deposits collateral to manage risk and maintain parity with the US national currency.
Curve Finance specializes in trading between stablecoins and other tokens of the same value with minimal slippage and fees.
The platform ranks fourth in terms of TVL in the overall ranking of DeFi Llama with an indicator of $ 4.82 billion. At the same time, the platform is in the lead among DEXs.
As a reminder, Curve Finance developers recently deployed crvUSD smart contracts in the Sepolia test network.
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