Cryptocurrency decentralized exchange as its agenda is preoccupied with the SEC’s lawsuit against Binance and Coinbase Curve Financefrom stETH support statement.
Accordingly, stETH holders now have their tokens issued by Curve Finance. stablecoin the one which… Curve USD (crvUSD) they can use to print.
Because 100% of CurveDAO community members voted today, crvUSD was allowed to be printed via stETH.
Users will be able to automatically print crvUSD by showing their stETH as collateral.
Users have to pay a borrowing rate of 6%. However, if the value of the collateral falls below the intended $1 fixed value of crvUSD, it will be automatically liquidated.
Speaking to Coindesk, DeFi developer Daniel Zlotin “CrvUSD could be a very interesting development because we have yet to see a stablecoin issued by a major DEX” said.
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