Curve Finance to launch its own stablecoin
- July 22, 2022
- 0
Decentralized exchange Curve Finance is preparing to launch its own stablecoin. Founder Mikhail Egorov announced this in a speech with Calvin Koch, founder of Spartan Group, at the
Decentralized exchange Curve Finance is preparing to launch its own stablecoin. Founder Mikhail Egorov announced this in a speech with Calvin Koch, founder of Spartan Group, at the Redefine Tomorrow 2022 conference.
Egorov said that the “stablecoin” will have super collateral. He declined to give further details.
Curve Finance specializes in trading between stablecoins and other coins of the same value with minimal slippage and fees.
The disclosed over-collateralization model is used by the DAI algorithmic stablecoin in the MakerDAO project. After the collapse of UST from Terra, there was a strong distrust of such assets in the cryptocurrency market.
Algo-stable coins from Near USN and USDD from Tron have super collateralization and are determined by central stablecoins USDT and USDC, among other things.
The prospect of issuing stablecoins caused a strong backlash among CRV token holders. According to CoinGecko, the price of the asset increased by 16.3% in the past day.
According to DeFi Llama, TVL Curve $6.18 billion According to this indicator, the project ranks first among DEXs overall and fourth among DeFi protocols overall, taking into account the locked value across all ecosystems.
Recall that on July 8, the developers of Aave offered to the community to launch the GHO multilateral stablecoin specific to the DeFi protocol ecosystem.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
