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Details of the Upcoming Launch of Curve's Own Stablecoin and What the Community Suggests

The Curve developers have posted a JavaScript library on the web, which should help when launching their own stable coin, the Curve stable coin - crvUSD.

Source: TheNewsCrypto
Source: TheNewsCrypto

The Curve developers have posted a JavaScript library on the web, which should help when launching their own stable coin, the Curve stable coin - crvUSD.

Earlier we wrote that the creator of Curve, Mikhail Egorov, wrote in a telegram channel to users, that the launch of a stablecoin is possible as early as September, after the Merge Ethereum occurs. However, despite the successful Merge (by the way, you can read about all the details of this grand event in our review), the Curve team has still not disclose details about the launch of crvUSD and not commented on this topic in the media. Therefore, the publication of the source code has become a real event for those who are interested in the development of Curve.

Remember that Curve Finance is one of the brightest representatives of DeFi. A decentralized exchange operating using automated market maker mechanisms that allows for asset trading based on liquidity pools. This work is supported by smart contracts that store equal shares of assets that are subject to further exchange. Users can exchange assets using any Web 3-wallet. However, do not forget about the commission, which will be 0.04% of the amount on your transaction.

The decentralized operation of Curve is supported by the Curve DAO organization. Users use the CRV token to convert it into a veCRV token for project management. It's simple, the more you have veCRV, the more influence and opportunities you have. According to the data aggregator about DeFi - DefiLlama, to date, assets with a price of $5.7 billion have been blocked in the smart contracts of the service, thanks to this Curve is one of the most popular and reliable DeFi protocols.

Let's go back to the crvUSD stablecoin. Despite the fact that Merge has been completed, the community has not received any new information about the upcoming launch of a stable coin, although there is great interest in it and opinions are actively shared. Probably, users are waiting for crvUSD, because the stablecoin will be able to make Curve work even more efficiently.

Firstly, there is an assumption that the crvUSD stablecoin can be borrowed in exchange for liquidity provider tokens (LP). This will make it easier to work with the two largest pools - tricrypto and 3pool. This opinion was shared by Scoopy Troops , co - founder of Alchemix.

Secondly, Alex Pipushev, founder of GTON Capital, shared his opinion that his own stablecoin will help Curve become an even more stable platform.

“The approach that Curve chose will potentially make the liquidity more sustainable. That’s a good experiment in pursuit of more reliable stablecoin models.”

Thus, the new stablecoin is able to make Curve even more user-friendly and stable, and this is so important for DeFi projects, because quite often decentralized systems are accused of being high risk and lacking of that very stability.