Curve (CRV) Publishes crvUSD Whitepaper

One of the most popular projects of the decentralized exchange category among cryptocurrencies Curvewhich it plans to launch in the coming months crvUSD stablecoin Published whitepaper and codes for

While Curve published the whitepaper document on its own website, it also shared the codes of the project openly on GitHub. The new stablecoin project, indexed to the US dollar, is expected to be implemented soon.

Curve Finance founder Michael Egorov shared the stablecoin project whitepaper and mathematical formulas on his GitHub account. Blockchain According to experts’ review, the way the new stablecoin project works is quite similar to MakerDAO’s DAI token.

Details on the finance arm of the crvUSD stablecoin project have also emerged. The developers stated that the stablecoin will operate in an over-collateralized manner.

An algorithm called Lending-Liquidating AMM (LLAMMA) will be used for risks that may arise in the collateral area.

Michael Egorov first announced in July that they would issue a new stablecoin. After the concrete whitepaper document that emerged today, there were lively moments in CRV, the local token of the Curve project.

Latest Situation in CRV

CRVFrom the early hours of the day to the mid-noon, it lost 25% on average to $0.40. After the decrease, CRV officially mounted the rocket as of 12:00 Turkish time and rose to the level of $ 0.70.

According to social media talk, a crypto whale is on the market. manipulation He borrowed a large amount of CRV from Aave and opened a short trade. However, with the bullish pressure coming in today at noon, all the CRV tokens of the manipulator were liquidated.

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