# crvUSD **crvUSD** Supported pairs: crvUSD/USDT, crvUSD/USDC Contract address: 0xf939e0a03fb07f59a73314e73794be0e57ac1b4e crvUSD is CurveFi’s native stablecoin. Similar to other stablecoins, it’s backed by an underlying asset, ETH, in this case. crvUSD is used in a collateralized debt position (CDP), meaning that crvUSD is overcollateralized and has little exposure to liquidation risk. Curve Finance announced the development of its stablecoin in 2022 and subsequently released a [whitepaper ](https://github.com/curvefi/curve-stablecoin/blob/master/doc/curve-stablecoin.pdf)for the stablecoin in the same year. On May 3, 2023, Curve Finance launched the crvUSD smart contract on the Ethereum network. In a significant move, CurveFi’s CEO, Michael Egorov, deposited 957 sfrxETH (a type of ETH created by Frax) valued at $1.8 million to mint $1 million crvUSD. Currently, there are only [20 million](https://etherscan.io/token/0x95ecdc6caaf7e4805fcef2679a92338351d24297#balances) crvUSD in supply. DeFi users have the option to deposit sfrxETH as collateral to mint new crvUSD stablecoins. It’s important to note that crvUSD is not a governance token and does not grant voting rights on CurveFi’s proposals. Decisions are made on CurveFi protocol using the CRV token–its other native token. CRV allows the CurveFi community to vote on protocol fees, rewards, and development decisions. The token is also used for yield farming activities. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://tokenlon.gitbook.io/docs/docs.en/blog/whatsnew/tokenlisting/crvusd.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.