Curve Finance's long-awaited stablecoin public launch is now a reality. The protocol successfully deployed their crypto-backed stablecoins after identifying a bug in the initial script during the peer-review process. Now, Curve contains around $5 billion in assets on the protocol, making it one of the largest decentralized marketplaces focused on stablecoins.
Their unique design set the Curve token, veCRV apart from the competition, with a system in place to prevent Curve (veCRV) token holders from not being able to escrow votes for rewards from their liquidity pools. Curve also has a new loan liquidity algorithm called LLAMA which will keep collateral balanced when cryptocurrency prices fluctuate.
Additionally, last week the Curve DAO raised $2,000 from 1.5 million crvUSD and stable crvUSD from Collateralized Debt Positions (CDPs), although it was considered test revenues and so did not translate into fee allocations.
Finally, although the final launch is yet to be completed, the smart contracts for crvUSD have been deployed and the user interface for interacting with crvUSD smart contracts is in development. With Curve successfully re-deploying its stablecoins, users everywhere can now be sure that their assets are safe.
Lydia Thomas
- 2023-05-15
Curve Finance Launches Crypto-Backed Stablecoins
After successfully identifying a bug in the initial script during the peer-review process, Curve Finance has deployed their crypto-backed stablecoins worth over $5 billion. With their unique design, users can now be sure that their assets are safe.
![CandleFocus CurveFinance-Crypto-Stablecoin-CDPS-veCRV-LLAMA-crvUSD](https://images.candlefocus.com/Curve-Finance-Launches-Crypto-Backed-Stablecoins.jpg)