The developers of the decentralized exchange Curve Finance have deployed smart contracts for the crvUSD decentralized stablecoin on the Sepolia testnet, reports The Block.
The USD-pegged stablecoin 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.
At the time of writing, the total value of stablecoins in the market is $128.3 billion. The popular stablecoins USDT and USDC account for $82 billion and $29 billion, respectively.
Recall that preparations for the launch of crvUSD became known in July 2022.
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The developers of the decentralized exchange Curve Finance have deployed smart contracts for the crvUSD decentralized stablecoin on the Sepolia testnet, reports The Block.
The USD-pegged stablecoin 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.
At the time of writing, the total value of stablecoins in the market is $128.3 billion. The popular stablecoins USDT and USDC account for $82 billion and $29 billion, respectively.
Recall that preparations for the launch of crvUSD became known in July 2022.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!