Curve's Native Stablecoin $crvUSD Deployed on Mainnet

Curve announced that the smart contracts of its native stablecoin $crvUSD have been deployed on the mainnet. The public release is not finalized yet because UI still needs to be deployed, so users can't access the stablecoin now.

$crvUSD is initially backed by staked $frxETH. Etherscan shows that Michael Egorov, founder of Curve, inaugurated the stablecoin with a 1 million $crvUSD loan. $crvUSD liquidity has been added to 4 pools, which are crvUSD/USDC, crvUSD/USDT, crvUSD/USDP and crvUSD/TUSD.

According to TokenInsight data, the price of $CRV went up by 7.81% over the last 24 hours, trading at $0.976337 now.