The developers of decentralized exchange Curve Finance have deployed smart contracts for their decentralized stablecoin crvUSD on the mainnet.
Although the user interface is yet to be rolled out, the project’s representatives noted that key metrics of the asset are being tracked by DeFi platform Llama.
The USD-pegged stablecoin will use an over-collateralized model similar to that of MakerDAO’s DAI, and will be powered by the Lending-Liquidating AMM (LLAMMA) algorithm for risk management and maintenance of parity with the US dollar.
Curve Finance specializes in trading stablecoins and other tokens of the same value with minimal slippage and fees, and currently ranks fourth in total value locked (TVL) on the DeFi Llama ranking at $4.82 billion, with the highest amongst DEXs.
