Decentralised exchange Curve Finance has expanded to the Stellar mainnet, The Block reported on Wednesday. It is the first time Curve has launched services directly on a blockchain outside the Ethereum Virtual Machine (EVM) ecosystem.
According to the report, Curve first introduced its "StableSwap" product on Stellar for trading assets that move similarly in price.
Assets traded include stablecoins pegged to the same currency, wrapped bitcoin tokens and synthetic crypto tokens. Any user can create a liquidity pool, find an existing pool to swap assets and provide liquidity.
Curve founder Michael Egorov (마이클 에고로프) said, "If there is demand, we have been considering expanding outside EVM." He added, "Stellar is closer to an EVM environment than other blockchains, and there is also demand from institutions."
Curve said Stellar pools can be used by financial apps such as lending apps when selling collateral during liquidation or when users unwind positions.
Curve, launched in 2020, has expanded beyond crypto trading into lending and its stablecoin crvUSD. DefiLlama says Curve has about $1.27 billion in deposited assets.
Chi-gyu Hwang
delight@d-today.co.kr