Curve’s New USD Stablecoin Is Almost Ready for Users

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


WindAwake/Shutterstock modified by Blockworks


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.

Get the day’s top crypto news and insights delivered to your email every evening. Subscribe to Blockworks’ free newsletter now.

Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can’t-miss tweets and more from Blockworks Research’s Daily Debrief.

Can’t wait? Get our news the fastest way possible. Join us on Telegram and follow us on Google News.


upcoming event

MON - WED, MARCH 18 - 20, 2024

Digital Asset Summit (DAS) is returning March 2024. This year’s event will be held in our nation’s capital, where industry leaders, policymakers, and institutional experts will come together to discuss the latest developments and challenges in the ever-evolving world of cryptocurrency. […]

upcoming event

MON - WED, SEPT. 11 - 13, 2023

2022 was a meme.Skeptics danced, believers believed.Eventually, newcomers turned away, drained of liquidity and hope.Now, the tide is shifting and it’s time to rebuild. Permissionless II is the brainchild of Blockworks and Bankless. It’s not just a conference, but a call […]

recent research

Cosmos Hub: ATOM Economic Zone


Replicated Security, the Hub’s Validation-as-a-Service offering that went live in March, is the first step in bringing value accrual to ATOM stakers.



Kenya’s central bank doesn’t seem enamored by the idea of a CBDC but hasn’t slammed the door shut yet


Both Ethereum and Solana have enjoyed vibrant DeFi environments, but this has not yet been the case for Cosmos


As Japan takes important step forward on stablecoins, industry participants say, proposed US laws around such crypto assets remain in flux


Stablecoins offer global financial access and on-chain transactions without limitations, while FedNow falls short in terms of utility, global reach and inclusivity


Connext wants to make using layer-2s and layer-3s a seamless experience


GameStop has been dabbling in Web3 initiatives since at least January 2022