Summary

We propose to add the crvUSD token of Curve Finance as stable token market to strike protocol.

Motivation

crvUSD is a collateralized-debt-position (CDP) stablecoin pegged to the US Dollar and we were looking for replacement of BUSD market. Over-collateralized USD stablecoin powered by a unique liquidating algorithm (LLAMMA), which progressively converts the put-up collateral token into crvUSD when the loan health decreases to certain thresholds.

About crvUSD token

Curve Stablecoin (crvUSD) infrastructure enables users to mint crvUSD using a selection of crypto collaterals (adding new ones is subject to DAO approval).

crvUSD is designed to provide a more capital-efficient stablecoin mechanism and smoother liquidations, while maintaining a decentralized design which the Curve DAO governs.

Coinmarketcap market data: Curve Stablecoin (crvUSD) price today, crvUSD to USD live price, marketcap and chart | CoinMarketCap

crvUSD market specifications

• Underlying asset: 0xf939E0A03FB07F59A73314E73794Be0E57ac1b4E
• Collateral Factor: 60%
• ReserveFactor: 20%

STRK reward emission for crvUSD market

• supply: 6 STRK
• borrow: 14 STRK

Interest model: Whitepaper Interest Model

Oracle: Chainlink crvUSD price feed