Curve’s New USD Stablecoin Is Almost Ready for Users

CrvUSD user interface currently only supports the minting of sfrxETH, with crvUSD coming shortly

article-image

WindAwake/Shutterstock modified by Blockworks

share

A little less than two weeks after Curve deployed its USD stablecoin smart contracts on Ethereum, its CrvUSD user interface is now ready. 

The much-anticipated crvUSD will maintain its peg to the US dollar through the Lending-Liquidating Automated Market Maker Algorithm (LLAMMA) — a technique combining a traditional AMM with a lending market. 

This means that the crvUSD pools will comprise two different assets: the crvUSD token itself and the asset used to mint the token (such as ETH and BTC). 

If the price of the collateral used to mint the token is higher, user assets will be deposited into the collateral through an oracle. The opposite will also be true, according to crvUSD’s white paper from last October. 

Loading Tweet..

The user interface currently supports the minting of crvUSD using sfrxETH as collateral, a liquid ETH staking derivative, at a $10 million market cap. The company tweeted that stETH would come shortly after.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

recent research

Research Report Templates.jpg

Research

In this report, each analyst on the Blockworks Research team lays out their highest conviction thesis for 2025.

article-image

Bitcoin’s had a volatile month so far, but the inauguration might lead to a big move up

article-image

A theory on why the overperformance of rivals has little to do with Ethereum itself

article-image

Sponsored

A Guide to Diversification, Security, Service, Integrations & Compliance

article-image

The deal is one of the crypto sector’s recent, notable acquisitions involving crypto payments

article-image

Fidelity has had “productive conversations” across all client segments when it comes to rising bitcoin ETF usage in 2025

article-image

The bitcoin reserve has become one of the more talked-about promises Trump has made to the crypto industry