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Curve's new stablecoin enters testing phase

The decentralized crypto exchange Curve Finance is developing its own stablecoin.

By Mike Hesp
• 1 min read
Curve's new stablecoin enters testing phase

The decentralized crypto exchange Curve Finance is developing its own stablecoin. The first tests are being conducted on the Sepolia network.

Curve Finance's developers today deployed smart contracts for the decentralized stablecoin crvUSD on Sepolia testnet. The stablecoin (crvUSD), pegged to the U.S. dollar, has a design similar to MakerDAO's market leader DAI. It is reportedly backed by crypto assets.

Before the decentralized stablecoin launches on Ethereum's mainnet, it will undergo multiple simulations on various test networks so developers can fix bugs in the code.

Sepolia is one of Ethereum's two main test networks. According to a Github entry, the code there was specifically implemented to test "the verification of the token with the Ethereum block explorer Etherscan".

Curve was formed in 2020 and is a decentralized exchange specializing in the exchange of stablecoins and tokenized bitcoin on Ethereum. Find out in this article how decentralized stablecoins work.

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