During the Redefine Tomorrow 2022 virtual cryptocurrency event last month, Egorov alluded to the prospect of Curve Finance introducing crvUSD. On Monday, in answer to a question regarding a possible September launch, Egorov said it was “possible.”
Previously, Egorov hinted that an over-collateralized stablecoin — a sort of decentralized stablecoin backed by an excess reserve collateral design, similar to Dai — was on the way for the decentralized exchange protocol but did not provide a release date.
Members of the Curve community reacted positively to his comment. He did not elaborate further, as he did in his Redefine Tomorrow 2022 fireside discussion.
Curve Finance is a decentralized technology specializing in stablecoin swaps and has over $5.8 billion in value locked on the platform. However, this has declined from a peak of $24.3 billion in January following the de-pegging events for MIM, UST, and stETH, in which these assets lost their matching 1:1 peg to USD or ETH.
Following the recent sanctions against Tornado Cash and the associated freezing of centralized stablecoin assets such as USDC in wallets, the DeFi community is increasingly calling for decentralized stablecoins. AAVE is also planning to launch its own stablecoin.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
In the third quarter of 2024, despite a challenging market environment, Gate.io maintained strong growth…
MEXC is proud to partner with the inaugural Crypto Content Creator Campus CCCC event, taking…
Dtec and DİZAYNVIP partner to merge AI technology with luxury vehicle design, revolutionizing smart mobility…
Bitcoin Spot ETF Outflows hit $541M on November 4, the second-highest single-day outflow in history.…
The hype around PropiChain’s token presale is due to its innovative integration of NFTs and…
UK pension fund Cartwright advised the country's first defined benefit pension fund to allocate 3%…
This website uses cookies.