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Curve's crvUSD depegs as market reacts to shock events

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Curve's crvUSD depeg put its PegKeeper algorithm under a stress test.

on Aug. 3, reacting to an uncertain environment surrounding the protocol after its recent exploit. In the course of the day, the stablecoin fell by as much as 0.35% before regaining its peg to the United States dollar.a mechanism for maintaining its peg called PegKeeper algorithm, which manages the interest rate and liquidation ratio based on the stablecoin supply and demand to maintain its value.

On Twitter, Curve Finance compared the stablecoin's devaluation to the Silicon Valley Bank collapse in March, which resulted in the brief depegging of USD Coin ."Events of recent days felt similar to SVB/USDC situation in some sense. However, crvUSD had just a 0.35% dip, and currently 0.1% from the peg," the protocol noted.Events of recent days felt similar to SVB/USDC situation in some sense. However, crvUSD had just a 0.35% dip, and currently 0.

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