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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
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
Category
Crypto-BackedCollateral Type
Crypto-BackedIssuer
Curve Finance