You lose to volatility decay when you are around t... @curvefi

Answer: When you are around the liquidation price, the volatility decay will cause the value of your collateral (ETH) to decrease. As the value of your collateral decreases, it will be converted into crvUSD, which is a stablecoin backed by your ETH. However, if ETH continues to dump and the value of your collateral drops too low, then the crvUSD will become undercollateralized, meaning that the value of the crvUSD will decrease relative to its backing. This is a risk that you must be aware of when trading around the liquidation price. To minimize this risk, you should make sure that your collateral is sufficiently over-collateralized, and that you have sufficient liquidity to cover any potential losses.

If my collateral (ETH) is continuously converted to crvUSD, then what are these newly "minted" crvUSD backed by? If they are backed by my sold ETH, and ETH continues to dump, will crvUSD becomes undercollateralized?