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Curve DAO Appoints yRisk as New Risk Provider for crvUSD and Llamalend
Curve DAO has officially appointed yRisk as the new risk provider for its crvUSD and Llamalend protocols, following a proposal approval on September 2. This decision comes after a selection process that began in July, which was initiated after LlamaRisk exited its role ten months into a one-year renewal agreement. The proposal received overwhelming support, with yRisk garnering 621,165,847.95 veCRV votes in favor and only 5.33 against during the binding vote.
yRisk, comprised of two primary developers associated with Yearn and Resupply, will be compensated through two revocable one-year vesting streams totaling 125,000 frxUSD and 568,181 CRV. The latter is valued at approximately $209,000 following a recent rise in CRV prices. Swiss Stake, which reviewed the bids, expressed concerns regarding yRisk's capacity to manage the responsibilities effectively, given their other commitments and the expanding risk landscape.
The crvUSD circulating supply was reported at $285.5 million, showing fluctuations over the past month. Meanwhile, Llamalend v1 has $76 million in deposits against $44.1 million borrowed, while Llamalend v2, launched on Optimism, holds $1.75 million against $740,920 borrowed. Curve's total protocols currently manage assets worth $1.33 billion.
Source: KLEA News