crvUSD is a collateral-backed stablecoin, minted as a loan issued against the collateral asset.
The Representation is maintained via automatic liquidation mechanism, gradually liquidating collateral assets in case of collateral insufficiency for the debt according to the loan rules.
[5] = ƒ(backing_value)
backing_value — is the total value of crvUSD collateral assets denominated in USDIn order to receive native yield, crvUSD holders must deposit it into the scrvUSD vault. The scrvUSD is a Yearn v3 Vault receiving the share of interest rate paid by crvUSD minters.
Note: crvUSD tokens stay in the vault and aren't further used in any activities
[8] = ƒ(binary)
crvUSD generates yield when deposited into a scrvUSD vault, which is specifically designed to receive a share interest payments from crvUSD minters.
[2] = ƒ([8], scrvUSD_total, rewards_alloc)
scrvUSD_total — is the total supply of scrvUSDrewards_alloc — is the total allocation crvUSD interest as rewards to scrvUSD