crvUSD (crvUSD) stablecoin analytics
crvUSD is Curve's decentralized stablecoin minted against crypto collateral with LLAMMA soft-liquidation that arbitrages collateral instead of liquidating it.
Static Profile
Static stablecoin profile
crvUSD (crvUSD) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg US Dollar.
AI summary / Updated May 15, 2026
crvUSD is Curve's CDP stablecoin with LLAMMA soft-liquidation; deep DEX liquidity, but 69% of collateral is custodial WBTC/cbBTC. When the protocol that dominates stablecoin DEX routing launches its own stablecoin, the design had better be interesting — and crvUSD delivers with...
AI summary · drafted by claude-opus-4-7 · reviewed by @TokenBrice on May 15, 2026 · facts as of May 15, 2026
- Collateral
- WBTC, cbBTC (majority), wstETH, sfrxETH, weETH, tBTC, and ETH deposited as collateral; LLAMMA (Lending-Liquidating AMM) performs soft liquidations; WBTC/cbBTC custody by BitGo/Coinbase introduces centralized dependency
- Peg Mechanism
- Peg Stability Reserve (PegKeeper) contracts deposit or withdraw pre-minted crvUSD into Curve pools paired with USDC, USDT, PYUSD, frxUSD, and GHO to restore the peg; borrow rate adjusts dynamically — rising when crvUSD trades below $1 to incentivize repayments
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
Snippet Answer
Is crvUSD safe?
Pharos does not mark crvUSD as absolutely safe. Static metadata says crvUSD uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Next Actions
Exact bot target: /subscribe dews,depeg,safety crvusd-curve
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated May 15, 2026.
crvUSD quick answers
What is crvUSD (crvUSD)?
crvUSD is Curve's decentralized stablecoin minted against crypto collateral with LLAMMA soft-liquidation that arbitrages collateral instead of liquidating it. The static profile records its US Dollar peg mechanism as: Peg Stability Reserve (PegKeeper) contracts deposit or withdraw pre-minted crvUSD into Curve pools paired with USDC, USDT, PYUSD, frxUSD, and GHO to restore the peg; borrow rate adjusts dynamically — rising when crvUSD trades below $1 to...
What backs crvUSD?
Pharos classifies crvUSD backing as Crypto-Collateralized. Collateral, per the static profile: WBTC, cbBTC (majority), wstETH, sfrxETH, weETH, tBTC, and ETH deposited as collateral; LLAMMA (Lending-Liquidating AMM) performs soft liquidations; WBTC/cbBTC custody by BitGo/Coinbase introduces centralized dependency Reserve evidence: live reserve feed configured.
Can crvUSD be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Live freeze and blacklist events for crvUSD, when applicable, appear in the dossier below.