This Altcoin Platform Marks September For Its New Initiative, Community Responds Positively!

Curve Finance altcoin platform According to a comment by founder Michael Egorov on the Curve community Telegram channel, the platform will launch next month. crvUSD It can launch its decentralized stablecoin named

It is “possible” that the new venture of the altcoin platform will be released in September

Egorov, last month Redefine Tomorrow 2022 cryptocurrency hinted at the possibility of Curve promoting crvUSD during its event. In response to a question about a potential launch in September as the new development, Egorov said it was “possible.”

Earlier, Egorov implied that an over-collateralized cryptocurrency like DAI, a type of decentralized stablecoin backed using an excess reserve collateral design, is on the way for the platform, but declined to reveal a release date.

This comment received positive feedback from members of the Curve community.

Curve specializes in stablecoin swaps and is one of the largest decentralized protocols with over $5.8 billion in assets locked on the platform. However, this value fell from a peak of $24.3 billion in January following the depreciation events of MIM, UST and stETH.

With the recent sanctions involving Tornado Cash and subsequent freezing of centralized stablecoin assets such as USDC in affected wallets, there are increasing calls from the DeFi community that decentralized finance requires decentralized stablecoins.

The potential Curve stablecoin follows similar proposals from other DeFi protocols like Aave that could attract much-needed revenue and users to these platforms during the current market downturn.

*Not investment advice.