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The developers of decentralized exchange Curve Finance today deployed smart contracts for the crvUSD decentralized stablecoin on the Sepolia testnet. Sepolia serves as one of two main testnets used by Ethereum developers to test code before mainnet deployment.
Curve, launched in 2020, is the largest decentralized exchange focused on the exchange of stablecoins with reduced slippage and minimal fees. The platform ranks fourth by TVL in the overall DeFi Llama ranking with $4.82 bln.
The USD-pegged stablecoin will use an over-collateralization model similar to MakerDAO's DAI. The stablecoin is built on the Lending-Liquidating AMM (LLAMMA) algorithm, which continuously liquidates and automatically deposits collateral to manage risk and maintain parity with the US national currency.
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