cryptocurrency

Defi Protocol Curve Finance to Launch a Stable Coin “Crvusd”

  • The stablecoin code on GitHub was released by its developers.
  • Excessive collateral ensures that the new currency will maintain its $1 peg in the market.

With DeFi بروتوكول Curve FinanceA new stablecoin pegged to the dollar may be available soon. On Tuesday, the stablecoin code was released on GitHub by its developers. The new code demonstrates many features of the new stablecoin smart contract with redundant collateral, however, details are few.

Michael Egeroff, founder of the protocol, verified the existence of the Curved Dollar (crvUSD) during a Web3 event in July. Curve’s green currency will be backed by the cryptocurrency treasury. It easily bypasses the full value of the crvUSD tokens in circulation. Especially in contrast to centralized stablecoins like Circle’s USDC and Tether’s USDT, which are backed by physical cash and assets. Excessive collateral ensures that the new currency will maintain its $1 peg in the market.

Multiple stablecoins are coming

Maker DAI is one of the most recognized stablecoins. ghost It recently announced the launch of its new stablecoin, dubbed GHO.