Analysis: Since Curve changed its fee distribution mechanism in June, crvUSD has generated $18 million in fees

DL Research posted on X stating that since its launch in June, the decentralized stablecoin crvUSD launched by Curve Finance has generated $18 million in fees and reached a market value of $66 million.

On Wednesday, CurveDAO launched an income-generating stablecoin Saving crvUSD (scrvUSD), with deposits reaching $6.6 million as of press time.

Curve Finance clarified: "Since the fee allocation switched to crvUSD in June, this fee was generated.

crvUSD itself was launched in May 2023, and more fees have been generated since then."

In previous news from June, Curve Finance changed its fee distribution mechanism from 3crv tokens to its native stablecoin crvUSD. This move aims to enhance the usability of crvUSD and integrate the stablecoin into the Curve Finance ecosystem to incentivize users.

It is reported that transitioning to crvUSD means that users will now receive fees denominated in US dollars for their stablecoins.