The popular stablecoin exchange application Curve Finance has approached the launch of its own stablecoin crvUSD, according to the software code published by the developers. The code library, in turn, will be an interface for crvUSD smart contracts and will be the first step towards issuing tokens.
According to the documentation, Curve developers plan to use smart contracts to launch an effective way to exchange stablecoins with a low commission and low slippage.
Curve investors are offered an annual income of up to 4% from one of the platform’s pools, which blocks tokens in the ETH network for an amount exceeding $ 5 billion.
CRV tokens are issued as a reward to Curve Finance’s liquidity providers and can be converted into veCRV tokens deposited with voting rights. Ownership of veCRV gives users the opportunity to participate in the management of the platform, receive increased rewards and receive airdrops.
Curve’s plans to launch a crypto asset linked to USD first became known in early summer of this year. Plans to launch a stablecoin were later confirmed by Curve founder Michael Egorov in July, who announced the possible launch of the project in the fall of 2022.