Stablecoin protocol Reserve invests $20M in Convex, Curve and Stake DAO
Stablecoin protocol Reserve is investing $20 million into the governance tokens of yield farming apps Curve (CRV), Convex (CVX) and Stake DAO (SDT), according to a June 20 announcement. Electronic USD (eUSD), High-Yield USD (hyUSD), Reserve (RSV), Reserve Dollar (RSD) and ETH+ are a couple of examples of stablecoins that have been created through Reserve.Reserve Protocols “Register” app used to create stablecoins. The procedure gained these tokens through its comprehensive usage of Convex to earn yield for its users.Related: Yield farming app accumulates $12M TVL 2 weeks after launchThe Reserve group mentioned that this new $20 million investment might allow for new features for RTokens, consisting of “collateralized loans, wallet products, tokenizing genuine world properties, and more transparent fintech systems.
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