Curve Finance recently succeeded in deploying their highly anticipated native stablecoin called crvUSD on the Ethereum mainnet. Blockchain data on Etherscan shows that the contract minted a total of $20 million in crvUSD tokens within a few minutes. This development has caused the value of the protocol’s governance token CRV to increase by 7%.
The deployment of Curve’s long-awaited stablecoin comes at a time when the total assets locked in the DeFi protocol amount to five billion US-Dollars, and could increase the activity of the protocol even further. Other DeFi protocols such as Aave and MakerDAO are likewise in the process of introducing their own native stablecoins. However, the crvUSD stablecoin will not be available to the public for some time yet, as it first requires an integration into Curve’s user interface, which is expected to be released soon.
Caroline Lewis
- 2023-05-03
Curve Finance Deploys Native Stablecoin crvUSD
Curve Finance has deployed a native stablecoin called crvUSD on the Ethereum mainnet, causing a 7% increase in the value of its governance token CRV and making the total assets locked in the DeFi protocol reach five billion US-Dollars.
