Curve releases whitepaper and official code for its stablecoin | • CRYPTO NEWS • #BTC • #ETH •
Curve releases whitepaper and official code for its stablecoin
The developers of decentralized exchange Curve Finance have released code and official documents for Curve's soon-to-be launched decentralized stablecoin called crvUSD. While an official announcement from Curve is still pending, the repository published on the projects. The whitepaper states that users will be able to mint the stablecoin by depositing excess collateral in the form of a cryptocurrency loan in a reserve, a mechanism called a collateralized debt position (CDP). The stablecoin will also rely on a novel algorithm dubbed Lending-Liquidating AMM (LLAMMA), which will work to continuously liquidate and sell the deposited collateral to better manage potential collateralization risks.
