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Curve Finance Algorithmic Stablecoin Sees $22M Minted Since Mainnet Launch

Curve Finance Algorithmic Stablecoin Sees $22M Minted Since Mainnet Launch

CurveDAO has launched its algorithmic stablecoin, crvUSD, on the Ethereum network, minting over $22 million worth of the token so far. The stablecoin remains inaccessible to general users until it is integrated with Curve’s front-end user interface on its official website. Curve Finance is one of the largest DeFi protocols in the industry, with roughly $4.4 billion in total value locked.

– CurveDAO has launched its algorithmic stablecoin, crvUSD, on the Ethereum network.

– The stablecoin remains inaccessible to general users until it is integrated with Curve’s front-end user interface on its official website.

– Curve Finance is one of the largest DeFi protocols in the industry, with roughly $4.4 billion in total value locked.

– crvUSD will function as a “collateralized-debt-position” stablecoin.

– The preferred asset for use as collateral has not yet been specified by Curve Finance.

– Competitor protocol Aave released a testnet version of its “native decentralized, collateral-backed stablecoin,” dubbed GHO, this past February.