Rank #14crvUSDCrypto-Backed

crvUSD

Pegged to

USD

Market Cap

$400.00M

24h Volume

$20.00M

Circulating Supply

400.00M crvUSD

Total Supply

400.00M crvUSD

Peg Target

USD

Collateral Type

Crypto-Backed

Issuer

Curve Finance

Launch Date

17-05-2023

About crvUSD

crvUSD is the native stablecoin of Curve Finance, one of the largest decentralised exchanges. It uses an innovative Lending-Liquidating AMM Algorithm (LLAMMA) that gradually converts collateral during liquidations rather than triggering sudden sell-offs. Users can mint crvUSD by depositing collateral such as ETH, wBTC, wstETH, and other assets. The soft liquidation mechanism is designed to be more capital efficient and less punitive to borrowers than traditional liquidation waterfalls. crvUSD leverages Curve's deep stablecoin liquidity pools for peg stability.

Supported Blockchains

Ethereum

Pros

Innovative soft liquidation design
Built on top of Curve's liquidity moat
Capital efficient borrowing
Multiple collateral options

Cons

Complex mechanism hard to understand
Dependent on Curve protocol health
Smart contract risk
Limited adoption outside Curve ecosystem

Key Features

LLAMMA soft liquidation mechanism

Multiple collateral types supported

Built on Curve's deep liquidity

Gradual liquidation instead of instant

PegKeeper stability mechanism

Integrated with Curve ecosystem

Stablecoin Information

Community & Socials

Website Twitter / X Discord Telegram GitHub