How does crvUSD work?

crvUSD is a stablecoin launched by Curve, featuring a novel liquidation mechanism called LLAMMA. It allows users to mint crvUSD by depositing collateral such as ETH. LLAMMA gradually converts collateral to LP positions as prices fluctuate, reducing potential losses for borrowers. crvUSD also incorporates a price stabilization mechanism, PegKeeper, to maintain its peg to the US dollar by adjusting the supply of crvUSD in the market.