

De-fi
Curve’s crvUSD Trades Within 0.5% Range For First Month – Crypto News
The novel price-pegging mechanism underpinning crvUSD, the month-old stablecoin from Curve Finance, is proving highly effective so far.
On Monday, Curve shared data showing that its stablecoin has traded within a less than 0.5% price range since launch.
Looking at the performance of rival decentralized stablecoins during their first month for comparison, DAI fluctuated within an 8% range, FRAX fluctuated by 10%, and sUSD bounced around by 2%, according to CoinGecko.
Users have already Minted 4.7M crvUSD, according to Dune Analytics. Based on data from CoinGecko, a market cap of $4.7M crvUSD would rank the project as the 42nd-largest stablecoin protocol.
Curve is the fourth-largest DeFi protocol with a total value locked of $4.3B across 12 chains, according to DeFi Llama. Its native CRV token is down 3% in the past week.
Bear Market Disrupts Stablecoin Sector
crvUSD’s growth comes as many developers see opportunities in the stablecoin sector.
Centralized stablecoins were disrupted by regulations and exposure to the legacy financial sector in recent months. In February, New York financial regulators ordered Paxos to stop issuing new BUSD tokens. One month later, USDC, the second-largest stablecoin, briefly depegged as holders feared the exposure of USDC’s issuer to failed US banks could pose a threat to its collateral reserves.
Confidence in incumbent decentralized stablecoins took a hit after the collapse of the Terra network and its algorithmic UST stable token last year. Then, MakerDAO’s DAI stablecoin lost its peg alongside USDC in March due to more than 40% of its collateral assets comprising USDC at the time. Furthermore, Maker’s founder recently expressed an interest in freely floating DAI against the dollar in the future.
The turmoil in the stablecoin markets created strong demand for stablecoins offering resilience to price volatility and regulatory interference, such as decentralized and overcollateralized tokens.
peg keepers
curves Deployed its stablecoin on the Ethereum mainnet nearly four weeks ago, inspiring degens to ape $2M into the protocol despite it lacking a user interface (UI) at the time. curves Launched a UI for crvUSD on May 17.
crvUSD currently can only be minted against sfrxETH, the liquid stake derivatives (LSD) from Frax Finance, and is backed by $6.4M worth of sfrxETH. curves said it will onboard additional LSD tokens, and is consulting with its community on whether it should explore support for ETH and WBTC.
With users continuing to earn staking rewards on their collateral when minting crvUSD, users are reporting earnings of close to 3% after paying interest on the stablecoins.
crvUSD uses “stability pools” and PegKeepers” to maintain its price at $1. Stability Pools are liquidity pools that pair crvUSD with other stablecoins — USDC, USDT, USDP, and TUSD. PegKeepers are smart contracts assigned to a particular Stability Pool which can mint a limited number of crvUSD to push the token’s price towards $1.
When the price of crvUSD exceeds $1 in a specific Stability Pool, the PegKeeper can mint crvUSD and deposit it to the pool to place downward pressure on its price. Transversely, PegKeepers can remove and burn their crvUSD liquidity when the token’s price is below $1, reducing supply and theoretically pushing prices up.
Steep interest rates are also imposed on crvUSD borrowers when its price slides below $1 to incentivize users to purchase crvUSD to pay down their debts. Rates also fall when crvUSD is above $1 to encourage loan generation.
Curve said just 14% of crvUSD’s supply is backed by PegKeepers, while its Stability Pools hold 2.5M crvUSD each.
LLAMA Liquidations
crvUSD introduced a unique liquidation mechanism called the lending-liquidating AMM algorithm, or LLAMMA, in a bid to reduce the effects of liquidations on borrowers.
When the value of the collateral assets backing a user’s crvUSD approaches its liquidation price, the protocol will gradually convert the collateral into stablecoins rather than unwind the entire position in a single trade. Then, as the price of collateral rises, Curve converts the stablecoin collateral back to volatile assets.
However, this process comes at a small cost to users’ collateral.
Curve currently receives price data from Chainlink’s oracles, but Curve has hinted it will provide the infrastructure itself in the future.
-
Blockchain1 week ago
Ripple and Ctrl Alt Team to Support Real Estate Tokenization – Crypto News
-
others1 week ago
EUR/USD recovers with trade talks and Fed independence in focus – Crypto News
-
Technology1 week ago
Fed Rate Cut Odds Surge As Powell’s Future Hangs In The Balance – Crypto News
-
Cryptocurrency1 week ago
It’s a Statement, Says Bitfinex Alpha – Crypto News
-
Metaverse1 week ago
Why voice is emerging as India’s next frontier for AI interaction – Crypto News
-
Technology1 week ago
Fed Rate Cut Odds Surge As Powell’s Future Hangs In The Balance – Crypto News
-
Business1 week ago
XLM Is More Bullish Than ETH, SOL, And XRP, Peter Brandt Declares – Crypto News
-
Cryptocurrency1 week ago
Anarchy, crime and stablecoins – Blockworks – Crypto News
-
Blockchain4 days ago
Institutional Demand Surges As Ethereum Sets New Inflow Records – Crypto News
-
others1 week ago
Top Crypto Exchange by Trading Volume Binance Announces Airdrop for New Ethereum (ETH) Ecosystem Altcoin – Crypto News
-
Cryptocurrency1 week ago
Bitcoin trades near $119K after new all-time high; Coinbase rebrands wallet to ‘Base App’ – Crypto News
-
Technology6 days ago
“Decentralized Ponzi Scheme”- Gold Bug Peter Schiff Slams Landmark Crypto Bills – Crypto News
-
Cryptocurrency5 days ago
Altseason heats up, but Bitcoin could face short-term pullback – How? – Crypto News
-
Cryptocurrency1 week ago
1inch price forecast: 1INCH hits 7-month high after double digit gains – Crypto News
-
Cryptocurrency1 week ago
1inch price forecast: 1INCH hits 7-month high after double digit gains – Crypto News
-
others1 week ago
VanEck Details Key Drivers Boosting Bitcoin Price, Including Corporate Treasury Demand, ETF Flows and More – Crypto News
-
Business1 week ago
XRP Lawsuit Update: Ripple Paid $125M in Cash, Settlement Hinges on Appeal – Crypto News
-
De-fi1 week ago
BNB Chain Teases New Blockchain with Privacy Features to Compete With Crypto Exchanges – Crypto News
-
Technology7 days ago
Breaking: GENIUS Act Becomes First Major Crypto Legislation as Trump Signs Bill – Crypto News
-
Cryptocurrency6 days ago
California Sheriffs Believe 74-Year-Old’s Disappearance Linked to Son’s Crypto Fortune – Crypto News
-
Cryptocurrency6 days ago
Shytoshi Kusama Breaks Silence on New SHIB AI Whitepaper and Transformed Future – Crypto News
-
Cryptocurrency4 days ago
XRP Price Hits All-Time High at $3.66 — Can It Smash Through $4 After Trump Win & SEC Shake-Up? – Crypto News
-
Cryptocurrency1 week ago
Hypercharged Exposure to XRP and Solana Now Available With These Two ETFs – Crypto News
-
Blockchain1 week ago
BitMine Shares Rallied After Peter Thiel Investment. – Crypto News
-
others1 week ago
Scammer Drains $10,000,000 From IRS in International Tax Fraud and Identity Theft Scheme: DOJ – Crypto News
-
Business1 week ago
XRP ETF Still in Play- SEC Commissioner Debunks Rejection Speculations – Crypto News
-
Business1 week ago
Ethereum Price Prediction- Bulls Target $3,700 As ETH Treasury Accumulation Soars – Crypto News
-
others1 week ago
GBP/USD rallies on US PPI dip and Trump’s potential Powell removal – Crypto News
-
others1 week ago
GBP/USD rallies on US PPI dip and Trump’s potential Powell removal – Crypto News
-
Cryptocurrency1 week ago
Russia’s $85 Billion Sberbank to Launch Crypto Custody Services – Crypto News
-
De-fi1 week ago
U.S. House Passes Clarity, GENIUS, and Anti-CBDC Acts With Historic Bipartisan Support for Crypto – Crypto News
-
Cryptocurrency7 days ago
XRP Price Spikes to Record Highs As Momentum Signals Extended Gains – Crypto News
-
Blockchain7 days ago
Why Bitcoin self-custody is declining in the ETF era – Crypto News
-
Cryptocurrency7 days ago
US House passes three key crypto bills; market reaction muted as Bitcoin dips – Crypto News
-
De-fi6 days ago
Crypto Market Cap Hits $4 Trillion Milestone as US House Passes Landmark Bills – Crypto News
-
De-fi6 days ago
Crypto Market Cap Hits $4 Trillion Milestone as US House Passes Landmark Bills – Crypto News
-
others5 days ago
Why Is The Crypto Market Rising Today? – Crypto News
-
Cryptocurrency5 days ago
Sanctum acquires Ironforge, plots transaction infrastructure vertical – Crypto News
-
Blockchain4 days ago
How to Use Google Gemini to Turn Crypto News Into Trade Signals – Crypto News
-
Blockchain3 days ago
XRP Could Skyrocket 500% Against Bitcoin, Analyst Warns – Crypto News
-
Cryptocurrency1 week ago
Exclusive: Bitwise to roll out daily attestations for bitcoin ETFs – Crypto News
-
Metaverse1 week ago
Broadcom challenges Nvidia’s AI dominance with ultra-connected Tomahawk networking chip launch – Crypto News
-
De-fi1 week ago
Solana RWA Growth Outpaces Ethereum in 2025 – Crypto News
-
Cryptocurrency1 week ago
Nothing Burger or Crypto Catalyst? – Crypto News
-
Metaverse1 week ago
Nvidia’s Jensen Huang says AI ‘fundamental like electricity’, praises Chinese models as ‘catalyst for global progress’ – Crypto News
-
Business1 week ago
$800 Billion JPMorgan To Rival Tether, Circle, and Ripple In Stablecoin Race – Crypto News
-
Cryptocurrency1 week ago
300% Bitcoin (BTC) Skyrocketing, Ethereum (ETH) Below $3,000 Again, Was Shiba Inu (SHIB) Dump Controlled? – Crypto News
-
De-fi1 week ago
TAC Token Rallies 50% as TON Application Chain Launches to Bring DeFi Back to Telegram – Crypto News
-
others1 week ago
Crypto Exchange Hack: BigONE Users Lose A Massive $27 Million In Recent Exploit – Crypto News
-
Cryptocurrency1 week ago
Pi Network Activity Soars as Mystery Wallet Acquires Millions in PI Coins – Crypto News