The crvUSD stablecoin has been launched

The Curve Finance decentralized crypto exchange has launched smart contracts of the crvUSD stable coin in the Sepolia test crypto network. This was reported by The Block.

More about the stablecoin

The crvUSD stablecoin has been pegged to the US dollar. It is designed using the principle of over-provision. A vivid example of this is DAI, developed by MakerDAO specialists.

The coin is built using LLAMM. This algorithm constantly conducts liquidation and depositing to support the collateral at the required level. This allows you to manage possible risks and maintain parity with the dollar fiat.

The crypto exchange has chosen a specialization in the form of trading stable and other tokens. Along with this, the selection is carried out at an identical price and low slippage. This also applies to commission fees.

The site is 4 in the top DeFi Llama. It has a volume of more than $4.8 billion. At the same time, the platform is a leader in the field of DEX.

Now the total price of all stable tokens on the crypto market exceeds $ 128 billion. Of these, more than $80 billion belongs to USDT and about $30 billion to USDC. The crvUSD stablecoin was reported last summer.

Recall that stablecoins are cryptomonets that have been linked to a fiat currency. The most common is pegging to the dollar. However, there are also to the yuan and other national currencies.

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