Decentralized exchange Curve Finance is working to launch its own stablecoin, the project’s founder Michael Egorov has announced in a conversation with the founder of Spartan Group Kelvin Koh.
According to Egorov, the “stablecoin” would have super-collateral.
Curve Finance specializes in trading between stablecoins and other tokens of the same value with minimal slippage and fees.
The announced over-collateral model is used by the algorithmic stablecoin DAI in the MakerDAO project. After the collapse of UST from the Terra ecosystem, there was a persistent distrust of such assets in the cryptocurrency market.
The pegged algo-stablecoins USN from Near and USDD from Tron have supercollateralization and are denominated, among other things, by centralized stablecoins USDT and USDC.