ChainCatcher news, DL Research posted on X that Curve Finance's decentralized stablecoin crvUSD has generated $18 million in fees since its launch in June, with a market cap reaching $66 million.Previous report, CurveDAO launched the yield-bearing stablecoin Saving crvUSD (scrvUSD), which has reached $6.6 million in deposits as of the time of publication.Curve Finance clarified: "Since the fee distribution switched to crvUSD in June, this fee has been generated. The crvUSD itself was launched in May 2023, and more fees have been generated since then."

ChainCatcher news, according to official sources, CurveDAO has announced the launch of Savings crvUSD (scrvUSD), which is a yield version of its stablecoin, allowing users to earn "low-risk" automatic compounding on their crvUSD deposits.

ChainCatcher message, CurveDAO has launched Savings crvUSD (scrvUSD), which is developed in collaboration with Yearn Finance and utilizes Yearn's customized V3 Vaults to provide users with yield and interest on stablecoins.As an interest-bearing stablecoin, scrvUSD offers low-risk returns from a portion of the interest paid by crvUSD minters. This yield is managed on-chain by CurveDAO, which effectively acts as a decentralized on-chain central bank, providing "low-risk" returns. User funds in the scrvUSD module are not re-collateralized, and all collateral remains fully on-chain.

ChainCatcher news, Curve governance members have begun voting on a new proposal that will allocate 10% of the fees generated from borrowing the Curve stablecoin crvUSD directly into a savings pool designated for users of crvUSD.Curve founder Michael Egorov stated that the proposal aims to promote the development of the crvUSD stablecoin, which currently has a market capitalization of $60 million. Theoretically, if the proposal is approved and crvUSD does scale up, the protocol will generate more income for governance members in the long run, but not in the short term.So far, most votes have supported the proposal, which will conclude on Friday.

ChainCatcher news, according to Cointelegraph, Wormhole has initiated a new proposal in the Curve governance forum, suggesting to reduce the collateral cap for crvUSD's TUSD to zero "to completely eliminate exposure to TUSD" due to regulatory risks and solvency issues.The proposal also suggests reducing the mintable amount of PayPal's stablecoin PYUSD from $15 million to $5 million, "thus making the reliance on each PegKeeper suitable for the importance of their respective pools." Currently, the main collateral for minting crvUSD also includes ETH and WBTC.Previously, on September 24, the U.S. SEC reached a settlement regarding allegations of fraud against TrueCoin and TrustToken involving unregistered sales of investment contracts related to TrueUSD. The allegations claimed that 99% of TUSD's reserve funds were invested in high-risk offshore funds, raising concerns about its safety and solvency.

According to ChainCatcher news and reported by Cointelegraph, the decentralized exchange Curve Finance is considering removing TrueUSD (TUSD) from its collateral list for the stablecoin crvUSD. This move stems from the U.S. Securities and Exchange Commission (SEC) filing securities law violation charges against TUSD issuer TrueCoin on September 24.The SEC alleges that TrueCoin falsely advertised that TUSD is fully backed by U.S. dollars or equivalent assets, while in fact, as of September 2024, 99% of TUSD reserves are invested in high-risk offshore funds. The Curve community has proposed to reduce the collateral cap for TUSD as crvUSD collateral to zero and to lower the collateral cap for PayPal's stablecoin PYUSD from $15 million to $5 million.Currently, WBTC and wstETH are the largest sources of collateral for crvUSD, locking approximately $68 million and $60 million, respectively.

ChainCatcher news, the Bitcoin L2 network Mezo announced on social media that it will continue to build its BitcoinFi business through Curve Finance's crvUSD. Starting today, users can stake crvUSD to generate Mezo scores, increase BTC scores, and earn Curve community reward points.Mezo added that users can deposit crvUSD into the Mezo Portal through the official Curve login page or use the main code "CURVE" to earn:Monthly distributed Curve community reward points;Mezo HODL Score.According to the Web3 asset data platform RootData, Mezo developer Thesis has completed a $21 million Series A financing round, led by Pantera Capital, with participation from Multicoin, Hack VC, Draper Associates, and others.

ChainCatcher news, according to the official announcement, the Binance futures platform will launch the CRVUSDC perpetual contract on July 4, 2024, at 15:00 (UTC+8), with a maximum leverage of up to 25 times.

ChainCatcher news, according to Cointelegraph, Curve Finance has changed its fee distribution mechanism, transitioning from the 3crv token to its native stablecoin crvUSD. This move aims to enhance the utility of crvUSD and integrate the stablecoin into the Curve Finance ecosystem to incentivize users.

ChainCatcher news, Curve Finance founder Michael Egorov posted on social media, "I am more committed than ever to building Curve, especially through the application of veTokenomics game theory, currently focusing mainly on veCRV. The plan is to concentrate on the following aspects:Ensuring that its lending products are the safest in the industry under all market conditions by observing data;Creating educational content for arbitrage traders to teach them how to perform liquidation operations;Ensuring that the supply of crvUSD automatically receives system incentives."

ChainCatcher news, according to on-chain analyst @ai_9684xtpa monitoring, Wintermute sold 9.29 million crvUSD at an average price of $1.06, making a profit of about $630,000.It is reported that its average purchase price yesterday was about $0.99.

ChainCatcher message, Curve founder Michael Egorov has built a liquidity pool for cvcrvUSD/scrvUSD-CRV/uCRVUSD, with total liquidity exceeding $1.73 million and an annualized yield of over 50% at the time of publication.

ChainCatcher news, Curve announced on social media that the total issuance of the native stablecoin crvUSD has exceeded 160 million (specifically: 160,854,348), setting a new historical record.According to official data, the collateral value based on WBTC is 117 million USD, the collateral value based on wstETH is 81.49 million USD, the collateral value based on ETH is 68.81 million USD, and the minting collateral value based on sfrxETH is approximately 25.2 million USD.

ChainCatcher news, Curve Finance recently stated on the X platform that the one-way lending market based on crvUSD is ready and awaiting contract audit. The two-way lending market (where collateral can be borrowed) is also basically ready, with contract writing completed and testing underway. Today, Curve Finance released an update based on the above announcement, stating that there are only a few days left until Llamalend launches, and once the auditor agrees, the product testing will be deployed ahead of the UI.According to the GitHub document released by Curve founder Michael Egorov, the Curve stablecoin crvUSD uses LL AMM a for soft liquidation (code in AMM.vy). However, this AMM allows for any token pair. This code creates a lending market to borrow crvUSD with any token, or to borrow any token with crvUSD in isolation mode. First, a "simple" non-recollateralized market will be created, followed by cross-market, where the provided collateral is borrowed to serve as lending liquidity while earning some annual interest rate.

ChainCatcher news, Curve has launched the MIM/crvUSD liquidity pool on Arbitrum.

ChainCatcher message, the Curve community has voted to approve the proposal "Increase Borrowing Rate Multiplier to Maintain crvUSD Peg" with a support rate of 100%.The proposal adjusts the staking ETH interest rate to 15% and the native ETH interest rate to 11%, so that the spread between the two is approximately equal to the Ethereum staking APR, encouraging the market to actively repay loans.

According to ChainCatcher news, official data shows that the total issuance of Curve's native stablecoin crvUSD has reached 153 million, setting a new historical high. It is reported that the collateral value based on wstETH is 104 million USD, the collateral value based on WBTC is 103 million USD, the minted collateral value based on sfrxETH is approximately 22.35 million USD, and the collateral value based on ETH is 28.49 million USD.