crvUSD

CRVUSD Price

About crvUSD (crvUSD)

crvUSD is a decentralized, overcollateralized stablecoin pegged to the US Dollar and developed by the Curve Finance protocol.

• It utilizes a unique Lending-Liquidating Amortization Queue Algorithm (LLAMMA) to manage collateral and maintain its price peg.
• The protocol introduces "soft liquidations," a method that gradually rebalances collateral to protect borrowers from sudden market volatility.
• crvUSD is backed by various crypto assets, including liquid staked derivatives and other established cryptocurrencies.

What Is crvUSD

crvUSD is a stablecoin system designed to provide a decentralized alternative to fiat-backed assets by leveraging the existing infrastructure of Curve Finance. Its primary value proposition is the reduction of liquidation risk for borrowers through an automated market-making approach to collateral management.

Value moves through the system when users deposit supported collateral into the protocol's controllers to mint crvUSD. The token is put to work within the broader decentralized finance ecosystem, where it serves as a medium of exchange and a base asset for liquidity pools. As the ecosystem grows, the protocol scales by increasing the variety of supported collateral and the number of active PegKeepers that help stabilize the asset's price.

If the value of the collateral falls, the system does not immediately trigger a total liquidation. Instead, it converts portions of the collateral into crvUSD in a continuous process, allowing the position to remain active unless the price drops below a final critical threshold.

What Makes crvUSD Unique

• LLAMMA Mechanism: Unlike traditional protocols that use discrete liquidation events, crvUSD uses a specialized Automated Market Maker (AMM) to continuously rebalance collateral.
• Soft Liquidations: This feature allows collateral to be sold for crvUSD as prices fall and bought back if prices recover, minimizing the permanent loss often associated with forced liquidations.
• Dynamic Interest Rates: The protocol adjusts borrowing costs based on the stablecoin's price relative to its peg, incentivizing users to either mint or repay debt to maintain stability.
• PegKeepers: These automated contracts can mint or burn crvUSD in specific liquidity pools to influence the market price when it deviates from the US Dollar.

What Can You Use crvUSD for?

crvUSD is pegged to the US Dollar. You can use it for the following purposes:

1. Value retention: The asset allows users to hold a digital, on-chain representation of the US Dollar, which may reduce exposure to the volatility of the broader cryptocurrency market.
2. Yield generation: Users can earn rewards by providing crvUSD as liquidity in various decentralized finance protocols or by participating in lending markets. The source does not specify native yield from sovereign debt instruments.
3. Cross-border settlement / value transfer: crvUSD enables international value transfer and global trade by allowing frictionless, peer-to-peer transactions on supported blockchain networks.
4. Collateralization: The token can be used as backing for other borrowing and lending protocols or as margin for decentralized derivatives trading.

How Does crvUSD Work?

The technical core of crvUSD is the LLAMMA algorithm, which treats a borrower's collateral as a liquidity provider position within a specialized AMM. This AMM splits collateral across multiple price ranges known as "bands." When the market price of the collateral enters these bands, the AMM automatically begins swapping the collateral for crvUSD.

This system relies on external price oracles to determine the current market value of the backing assets. If the price of the collateral increases, the AMM reverses the process, buying back the collateral with crvUSD. Because crvUSD is an application utility token for the Curve Finance ecosystem, users pay protocol service fees in the form of interest on their borrowed positions rather than network gas for the protocol's internal rebalancing logic.

Team Info and Investors

crvUSD was developed by the team behind Curve Finance, a prominent decentralized exchange protocol founded by Michael Egorov. The project is governed by the Curve DAO, which uses a vote-escrowed model to allow token holders to influence protocol parameters, including interest rates and collateral types. While the broader Curve Finance protocol has received backing from various early investors and participants in the DeFi space, the source material does not specify a separate funding round or investor list exclusive to the crvUSD stablecoin.

Where can you buy crvUSD?

CRVUSD tokens can be traded on decentralized exchanges. The most popular exchange to buy and trade crvUSD is Curve (Ethereum), where the most active trading pair FRXUSD/CRVUSD has a trading volume of $1,874,015.47 in the last 24 hours. Other popular options include Curve (Arbitrum) and Ekubo V3 (Ethereum).

What is the daily trading volume of crvUSD (CRVUSD)?

The trading volume of crvUSD (CRVUSD) is $4,262,062.32 in the last 24 hours, representing a -51.60% decrease from one day ago and signalling a recent fall in market activity. Check out CoinGecko’s list of highest volume cryptocurrencies.

What is the highest and lowest price for crvUSD (CRVUSD)?

crvUSD (CRVUSD) reached an all-time high of $1.11 and an all-time low of $0.9490. It’s now trading -9.60% below that peak and 5.30% above its lowest price.

What is the market cap of crvUSD (CRVUSD)?

Market capitalization of crvUSD (CRVUSD) is $224,012,759 and is ranked #180 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of CRVUSD tokens (220 Million tokens are tradable on the market today).

What is the fully diluted valuation of crvUSD (CRVUSD)?

The fully diluted valuation (FDV) of crvUSD (CRVUSD) is $224,012,759. This is a statistical representation of the maximum market cap, assuming total number of 220 Million ETH tokens are in circulation today.

How does the price performance of crvUSD compare against its peers?

With a price increase of 0.10% in the last 7 days, crvUSD (CRVUSD) is underperforming the global cryptocurrency market which is up 4.20%, while underperforming when compared to similar Stablecoins cryptocurrencies which are up 0.70%.

How to add crvUSD (CRVUSD) to MetaMask?

Adding crvUSD (CRVUSD) to MetaMask allows you to view your token holdings, trade on decentralized exchanges, and more. To add them, you’ll need to import CRVUSD as a token. You can copy CRVUSD’s contract address (0xf939e0a03fb07f59a73314e73794be0e57ac1b4e) and import it manually, or if you've installed MetaMask's chrome extension, add CRVUSD to MetaMask with one click on CoinGecko.

Add CRVUSD to MetaMask.