Curve Finance is discussing the possibility of a decentralized stablecoin.
Curve Finance founder Michael Egorov allegedly said that they discussed the possibility of a stablecoin at the Redefine Tomorrow event.
When asked if Curve has a stablecoin plan, Egorov said, “Over-collat. That’s all I can say for now,” he said.
The term “over-collat” used here is an acronym for an over-collateralized stablecoin. This is the same structure used by the decentralized stablecoin Dai in the Ethereum (ETH) ecosystem.
Curve is currently the fourth largest DeFi platform. It has a locked value of $5.9 billion on ten different blockchains.
After the massive collapse of the UST, DeFi projects continue to work to launch their own stablecoins. Recently, Aave also announced its plan to launch its stablecoin named GHO.
