$22M of Curve Finance algo stablecoin minted since mainnet launch
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Decentralized finance (DeFi) protocol Curve Finance has launched its native algorithmic United States dollar-pegged stablecoin on Ethereum mainnet — minting more than $22 million worth of the crvUSD token so far.
According to
Curve’s plan to release an algorithmic stablecoin was first announced by Curve Team member @mrblocktw in a Twitter post on July 21, 2022.
you know you know
curve – stablecoin incoming $CRV #stablecoinWAR pic.twitter.com/sYg13WRLYz
— ???? ?? (rock #58) (@mrblocktw) July 21, 2022
Later the same day, Curve’s founder, Michael Egorov confirmed that the stablecoin would be overcollateralized at the ReDeFine Tomorrow Web3 summit.
Following the launch of the new stablecoin, the protocol’s native Curve DAO (CRV) token spiked approximately 7% according to data from TradingView. CRV is currently changings hands for $0.96.
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