Curve Finance's stablecoin, crvUSD, is maintaining its peg as other stablecoins struggle, emerging as a rare bright spot amidst a bear market that has hit DeFi protocols especially hard, according to Kaiko data.
The chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app. All right, let's take a look at the chart of the day curve finances stablecoin curve US D is maintaining its peg as other Stablecoins struggle emerging as a rare bright spot amidst a bear market that has hit defi protocols especially hard. That's according to KO data just a few months after it's released curve US D's market cap breached the $100 million threshold. Today, it stands at about $125 million compared to the defy native stable lud at 225 million and GHO at $25 million. Like curve itself curve UD is complicated and popular with D five power users like other D five stablecoins. It allows users to deposit Ethereum liquid staking derivatives to borrow the Stablecoin. Though it incorporates liquidation ranges also known as soft liquidations and allows users to leverage their collateral up to nine times arbitrage and yield farming opportunities have allowed curve US D to maintain its peg quite well since its inception. Meanwhile, Liquidity lud and Aves Gho continue to show significant peg deviations in large part due to limited use cases and flawed mint and redemption mechanisms. That's it for today's chart of the day. I'm Jen Sani. We will see you next time to unpack more of the data behind top news stories.