News Formal

DeFi Protocol Curve Finance Now Lets Users Mint crvUSD for Staked Ether

  • 📰 CoinDesk
  • ⏱ Reading Time:
  • 7 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Staked ether (stETH) holders can now use their tokens to mint curve usd (crvUSD), a decentralized stablecoin issued by stablecoin swapping protocol CurveFinance. By shauryamalwa.

to allow crvUSD minting via stETH was passed by 100% of Curve DAO community members in a vote that ended Thursday morning. Users can put up their stETH holders as collateral, and Curve shall automatically mint crvUSD whose value will be a portion of the value of the stETH.

As of Thursday, there is a maximum limit of $150 million worth of cvrUSD that can be issued using stETH as collateral.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 291. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Curve Finance now lets you use wrapped staked ether to borrow its stablecoinDecentralized exchange Curve Finance added support for wrapped staked ether as collateral for its crvUSD stablecoin.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Small business lending protocol Defactor tokenizes $100M in bondsDefactor is supported by the Huawei International Scale-Up Program in Ireland. The bond, tokenized on the Polygon network ( $MATIC ), will be lent to small and medium-sized enterprises using real-world assets, such as receivables, as collateral.
Source: Cointelegraph - 🏆 562. / 51 Read more »