Curve Finance Will Redeploy its Stablecoin Due to an Integration Error

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The Curve Finance team has announced the need to redeploy their crvUSD decentralized stablecoin on the Ethereum mainnet due to a discovered bug that prevented veCRV voting token holders from receiving rewards from liquidity pools.

The developers have promised to fix the bug “today soon” and asked the user who purchased 49,970 crvUSD to contact them for a refund.

The team has also added a message to the contact transaction to exchange the “wrong” stablecoins, and according to on-chain data, the user has already sent coins and received the same amount in USDC.

Built on the Lending-Liquidating AMM (LLAMMA) algorithm, the stablecoin continuously liquidates and automatically deposits collateral to manage risk and maintain parity with the US national currency.