May 2, 2023: Let's $GHO, $FRAX, Wen 📣👯♀️
Decentralized stablecoins prepare to launch into a world pivoting to LSDs
The protracted launch of $crvUSD adds another chapter. Luke has the scoop:
In this case, a full Sepolia deployment has been completed.
Most importantly, prior test deployments ran into some issues with contract verification on Etherscan given that $crvUSD is using the absolute bleeding edge of Vyper. In the worst case scenario, this may have required waiting until Vyper 0.3.8, which may have meant another month or more. Fortunately these known issues don’t appear to affect anything in the Sepolia deployment, meaning $crvUSD is still soon.
The most recent commit to the Github repository is to flip the deployment script from testnet to production. You could take this as another hit of hopium, but we know you’re all numb to $crvUSD news at this point.
To shatter any potential trace of hopium, remember that even once $crvUSD deploys degens will still need to suffer a spate of testing the frontend against the live contracts before it gets released to the public. Unless you’re willing to make raw calls to the contract, more waiting for degens.
Even more limiting, opening a $crvUSD position would cost nearly a hundred bucks in gas under friendlier circumstances, and we’re in the midst of a ridiculous gas shortage. This means $crvUSD will only be a playground for the wealthy.
At any rate, there’s very little informational value in us writing another screed on $crvUSD deployment when there’s so much else going on, so we’ll simply refer you to last week’s article.
April 24, 2023: I Got You, 0xbabe 🔜™️
The long wait for the start of $crvUSD deployment is over! Welcome to the long wait for the conclusion of $crvUSD deployment!!crv.mktcap.eth is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.
Decentralized Stablecoins in an LSD World
It’s not only Curve inching towards a stablecoin. AAVE’s $GHO is providing devs some cover, also announced around the same geological epoch and stepping towards deployment. This week their governance votes activate.
Yet the most exciting developments the past couple of days has to be this tidbit of FraxLend alfa from our frens at Flywheel DeFi.
For non-members, we refer you to today’s Leviathan livestream for more.