Decentralized finance (DeFi) protocol Curve Finance has deployed its native stablecoin crvUSD on the Ethereum mainnet.
Etherscan blockchain data shows that the contract minted a total of $20 million worth of crvUSD tokens in five transactions in five minutes.
The protocol’s governance token, CRV, surged to 97 cents after the news, up 7% on the day, the data showed.
Since the crvUSD stablecoin is not yet integrated into Curve’s user interface, it won’t be available to the public until a later date.
An administrator on the protocol’s official Telegram channel said that the stablecoin’s public release is pending on the front end and will be released soon.