Do Kwon launches a novel Curve pool that features major stablecoins

Terraform Labs’ CEO and creator, Do Kwon, revealed the specifics of a new Curve pool that comprises important stablecoins from both the centralised and decentralised ecosystems. Mr. Kwon announced today, April 2, 2022, that his team will launch a new liquidity pool in collaboration with DeFi heavyweights Frax Finance and Redacted Cartel. The largest decentralised stablecoins in Terra USD (UST) are US Dollar Tether (USDT) and USD Coin (USDC), and FRAX by Frax Finance is the first fractional-algorithmic stablecoin in DeFi. 

According to the Terra founder, the current launch is expected to be a watershed moment for the entire Web3 area in terms of sustainability and interoperability. The famed “Curve Wars” will be finished once the pool is operational: Terra and Frax, the two major CVX holders, will work on liquidity logistics. In a post on Terra’s Agora forum, anonymous Terra researcher Ezaan covers the technical facts and rationales behind the new design’s conception.

He claims that the new pool will change the narrative in stablecoin LP cross-chain interoperability because it will be tested on Fantom (FTM), Arbitrum, and mainnet Ethereum at the same time. UST, Terra’s native stablecoin, is expected to increase its position in Ethereum’s DeFi market as a result of this agreement.

As previously reported by U.Today, Bitcoin critic Peter Schiff recommended making UST the “virtual gold standard” by backing it with Gold (XAU) reserves on April 1. This suggestion was rejected by Terra’s Do Kwon.

Read more: Do Kwon, Terraform Labs CEO, is bullish on LUNA