CRVUSD crvUSD Rank #158

crvUSD is a USD-pegged stablecoin that operates as a collateralized-debt-position (CDP) asset within the Curve ecosystem. Built as part of Curve Finance's suite of decentralized finance tools, it is generated by users who deposit approved collateral into smart contracts, which then mint crvUSD against the locked assets. This design allows the token to maintain its dollar peg through on-chain overcollateralization and automated liquidation mechanisms rather than relying on a centralized custodian. The stablecoin supports a broad multi-chain presence, with active deployments across Ethereum, BNB Chain, Polygon, Gnosis, Arbitrum, Optimism, and Base, as well as integration with the Fraxtal ecosystem. Its availability on Base as a native issuance also distinguishes it within that network's DeFi landscape. Classified as a crypto-backed stablecoin with characteristics of fiat-pegged assets, crvUSD is primarily used for lending, borrowing, and providing liquidity across the protocols and platforms that support it, extending the utility of Curve's automated market maker infrastructure into the stablecoin sector.