Curve to Launch Over-Collateralized Stablecoin: Founder

Paxful
Curve to Launch Over-Collateralized Stablecoin: Founder
fiverr


key takeaways

Curve Finance will launch its own stablecoin, Curve CEO Michael Egorov said in a conversation with The Spartan Group co-founder Kelvin Koh. Egorov said the stablecoin will have an over-collateralization mechanism, but he declined to give further details. It was recently reported that DeFi lending platform Aave plans to release its own stablecoin GHO.

share this article

Curve CEO Michael Egorov revealed today that Curve is planning its own over-collateralized stablecoin. Stablecoins may have a similar structure to MakerDAO’s DAI.

Stablecoin Galore

According to comments from its CEO, Curve is looking to launch a native stablecoin.

One tweet Investment firm SCB 10X from Thailand said the topic of the native Curve stablecoin was raised today in a virtual chat between Curve CEO and founder Michael Egorov and The Spartan Group co-founder Kelvin Koh.

bybit

When asked if Curve would launch a stablecoin, Egorov directly replied that stablecoins would be overcollateralized, adding: “That’s all I can say right now.”

Curve Finance is a decentralized finance (DeFi) protocol that specializes in “extremely efficient” stablecoin trading services.According to DeFi Llama, Curve is currently Have $5.97 billion worth of cryptocurrency is locked on its platform, spanning ten different blockchain ecosystems.

Stablecoins are cryptocurrencies designed to maintain parity with government-issued currencies such as the U.S. dollar or the euro. In the DeFi space, stablecoins are often over-collateralized, like MakerDAO’s DAI, or under-collateralized, like Terra’s UST.

For many following the UST spectacle, the issue of stablecoin staking has come into focus implosion That wiped about $43 billion directly from the cryptocurrency market in May. Egorov’s comments suggest that Curve’s stablecoin may follow a model closer to DAI, allowing the token to avoid the fate of UST.

Curve’s foray into the stablecoin space comes after another major DeFi protocol lending platform, Aave, recently announced that it would question Its own overcollateralized stablecoin GHO.

The entire stablecoin market is Currently valued at over $153 billion. Major centralized issuers such as Tether and Circle have announced plans to expand their offerings to tokens backed by currencies other than the U.S. dollar, such as Mexican Peso and EUR.

Disclosure: At the time of writing, the author of this article owns ETH and several other cryptocurrencies.

share this article

The information on or accessed through this website has been obtained from independent sources that we believe to be accurate and reliable, but Decentral Media, Inc. makes no representations about the timeliness, completeness or accuracy of any information on or accessed through this website. Representations or warranties. Decentral Media, Inc. is not an investment advisor. We do not provide personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may be out of date, or may be incomplete or inaccurate. We may, but are not obligated to update any outdated, incomplete or inaccurate information.

You should not make investment decisions regarding ICOs, IEOs or other investments based on the information on this website, nor should you interpret or otherwise rely on any information on this website as investment advice. If you are seeking investment advice regarding an ICO, IEO or other investment, we strongly recommend that you consult a licensed investment advisor or other qualified financial professional. We do not accept compensation of any kind for analyzing or reporting on any ICO, IEO, cryptocurrencies, currencies, tokenized sales, securities or commodities.

View full terms and conditions.

Changelly

Be the first to comment

Leave a Reply

Your email address will not be published.


*