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【Curve Stablecoin $crvUSD - First thoughts on the train】
1. Totally new model. No endogenous collateral. $CRV is not even mentioned once in the whitepaper. So like neither $LUNA nor $FRAX.
2. Fundamentally like $DAI, a CDP stable, but with a new liquidation mechanism.
1/x
1. Totally new model. No endogenous collateral. $CRV is not even mentioned once in the whitepaper. So like neither $LUNA nor $FRAX.
2. Fundamentally like $DAI, a CDP stable, but with a new liquidation mechanism.
1/x
2/ #LLAMMA: old CDP stablecoins have a liquidation price. Once it hits that, gg liquidated. #LLAMMA continuously liquidates and recollateralises as the price of @ETH the collateral moves.
3/ The #LLAMMA also deals with the bad debt situation we've seen on Solend. With traditional lending borrowing markets, you can b
