Curve Best Yields & Key Metrics | Week 12, 2026

Market Overview

Overall a good week for Curve:

• TVL increased to $2.04B, , up 0.6%
• crvUSD borrowing rates fell back to single digits, sitting at 8.7%
• a new crvUSD PegKeeper was created for Aave's GHO stablecoin
• A new proposal to make crvUSD borrowing cheaper is being voted on

As always, see all the highlighted opportunities and weekly metrics below.

Top Yields

All yields shown below are the unboosted rates offered directly through Curve. However, projects such as Convex, StakeDAO and Yearn all offer boosting for these yields.

Premier crvUSD Pools

All highlighted markets below have more than $10M of TVL.

Chain	Market	TVL	Yield
	pmUSD crvUSD	$18.5M	10.0%
	scrvUSD	$35.8M	6.2%
	PYUSD crvUSD	$49.7M	5.4%
	USDT crvUSD	$18M	4.0%
	USDC crvUSD	$21.3M	3.7%

Other Top USD Yields

All yields are calculated assuming a minimum of $100k TVL.

Chain	Market	Type	Yield
	xpUSD sUSDS	Pool	30.3%
	alUSD USDC	Pool	27.3%
	sdUSD frxUSD	Pool	19.6%
	ynRWAx ynUSDx	Pool	19.2%
	OUSD pmUSD	Pool	17.6%
	OUSD USDnr	Pool	15.4%
	crvUSD sfrxUSD	Llamalend	15.0%
	alUSD USDC	Pool	13.3%

Top BTC & ETH Yields

All yields are calculated assuming a minimum of $100k TVL.

Chain	Market	Asset	Yield
	ynETH ynETHx	ETH	12.3%
	ynETHx WETH	ETH	5.5%
	alETH WETH	ETH	4.1%
	WBTC cbBTC hemiBTC	BTC	1.0%
	tBTC WBTC	BTC	0.8%
	WBTC DBIT	BTC	0.7%

Other Top Yields

All yields are calculated assuming a minimum of $100k TVL.

Chain	Market	Asset	Yield
	CRV cvxCRV	CRV	11.7%
	CRV sdCRV	CRV	10.1%
	EURe WXDAI USDC USDT	FOREX	6.0%
	crvUSD CJPY	FOREX	5.5%
	crvUSD tBTC wstETH	TRICRYPTO	2.8%
	XAUt PAXG	GOLD	0.6%

Weekly Metrics

crvUSD & scrvUSD

While the minted supply dropped, the crvUSD metrics did otherwise materially improve this week. PegKeepers were activated as the peg went over $1.0000 momentarily, this caused borrowing rates to fall 3.9% to single digits, and PegKeepers turned a small profit again as they sold high and bought low.

Metric	Value	Change
crvUSD Minted	$19.4M	-14.1%
scrvUSD Yield	6.2%	+1.1%
crvUSD inscrvUSD	184.7%	+30.5%
crvUSD Price	$0.9996	+$0.0002
Avg. Borrow Rate	8.7%	-3.9%
Peg Stability Reserves	$0	-
PegKeeper Profit	$176	+$176

Llamalend

Llamalend was mixed but constructive this week. TVL slipped 1.9%, yet supplied and borrowed balances both grew, with borrowed up 9.0% and supplied up 6.0%. Loan count fell by 15, suggesting activity consolidated into fewer, larger positions.

DEX

Curve's DEX was steadier this week, with TVL, volume, and fees all inching higher while swap count fell. That points to somewhat larger average trade sizes, especially in core stablecoin and stETH routes.

DAO

DAO metrics were broadly flat this week. veCRV distribution ticked up to $80k, while total veCRV, emissions, and inflation all edged slightly lower or held steady.

Metric	Value	Change
CRV Circ. Supply	1.49B	+0.1%
CRV Locked	857M	-
Total veCRV	784M	-0.2%
veCRV Distribution	$80.5k	+1.7%
CRV Emissions	$535k (2.22M CRV)	-0.5%
Inflation Rate	4.894%	-0.005%

Top Stableswap Pools

Stablecoin activity remained led by USDS pools, however the USDC/USDT high concentration pool took second spot. Neutrl's NUSD was the largest gainer, jumping 17 spots to 8th in terms of volume.

📍	🔄	Chain	Pool	Volume	Fees
1	-		PYUSD USDS	$320.2M	$3.4k
2	+1		USDC USDT	$216.1M	$3.2k
3	-1		sUSDS USDT	$167.6M	$2.5k
4	-		USDC RLUSD	$91.3M	$18.6k
5	+2		ETH stETH	$67.7M	$6.8k
6	-		DAI USDC USDT	$58.3M	$8.7k
7	-2		USDC crvUSD	$50.3M	$5.0k
8	+17		NUSD USDC	$46.1M	$4.7k
9	-		USDT crvUSD	$37.9M	$3.8k
10	-2		USDG USDC	$26.6M	$2.7k

Top Cryptoswap Pools

Cryptoswap rankings were very stable this week, with the four core Tricrypto pools holding the top slots. The main mover was the EURe/WXDAI/USDC/USDT forex pool on Gnosis, which jumped into the top six.

📍	🔄	Chain	Pool	Volume	Fees
1	-		USDC WBTC WETH	$15.8M	$9.9k
2	-		USDT WBTC WETH	$14.0M	$9.0k
3	-		crvUSD WETH CRV	$9.6M	$5.9k
4	-		USDT WBTC WETH	$8.3M	$19.0k
5	-		WETH cbETH	$3.1M	$1.1k
6	+18		EURe WXDAI USDC USDT	$2.9M	$1.0k

Gauge Winners & Losers

Being a Convex voting week the gauges had a large rotation. RAAC's pmUSD/frxUSD pool was the winner of increases, jumping increasing their CRV emissions to 271k, over 12% of the weekly 2.22M on offer.

📍	Chain	Pool	TVL	CRV Emissions	Change
1		pmUSD frxUSD	$17.5M	271k	+150k
2		CRV cvxCRV	$6.41M	118k	+29.8k
3		FRAX USDe	$74.8M	116k	+23.6k
...	...	...	...	...	...
-3		reUSD scrvUSD	$10M	45.1k	-24.4k
-2		OETH WETH	$56.9M	19.6k	-62.1k
-1		msETH WETH	$14.2M	37.1k	-74.1k

DEX Winners & Losers

Fees Winners & Losers

Fee growth across the top 3 winning pools was a hot contest, with less than 25% separating the first and third.

📍	Chain	Pool	Volume	Fees	Change
1		NUSD USDC	$46.1M	$4.73k	+$3.98k
2		ETH stETH	$67.7M	$6.77k	+$3.46k
3		OGN OETH	$1.86M	$7.13k	+$3.09k
...	...	...	...	...	...
-3		reUSD scrvUSD	$10.2M	$2.2k	-$3.06k
-2		WETH CVX	$1.81M	$6.81k	-$3.23k
-1		stETH frxETH	$1.25M	$499	-$3.53k

Volume Winners & Losers

Neutri also won the volume for the week with their NUSD stablecoin, increasing their volume by over $38M, while USDS pools notably cooled off.

📍	Chain	Pool	Volume	Fees	Change
1		NUSD USDC	$46.1M	$4.73k	+$38.7M
2		ETH stETH	$67.7M	$6.77k	+$34.6M
3		DAI USDC USDT	$58.3M	$8.74k	+$16.6M
...	...	...	...	...	...
-3		reUSD scrvUSD	$10.2M	$2.2k	-$14.1M
-2		PYUSD USDS	$320M	$3.36k	-$54.9M
-1		sUSDS USDT	$168M	$2.48k	-$94.1M

TVL Winners & Losers

Ripple's RLUSD was a top performer, jumping 10.9M in TVL for the week, stETH was came in second, largely due to ETH's price appreciation.

📍	Chain	Pool	TVL	Change
1		USDC RLUSD	$92.6M	+$10.9M
2		ETH stETH	$93.4M	+$4.79M
3		OETH WETH	$56.9M	+$3.08M
...	...	...	...	...
-3		XAUt PAXG	$1.09M	-$3.08M
-2		crvUSD cbBTC	$176M	-$4.24M
-1		DOLA sUSDe	$67.4M	-$4.67M

Llamalend Winners & Losers

crvUSD Minting Markets - Borrowing Winners & Losers

crvUSD minting activity was continues it's contraction, as borrowing rates were very high, however this should be largely over now that rates are an average of 8.7% and a Llamarisk proposal to reduce rates looks likely of passing.

📍	Chain	Market	Collateral	Borrowed	Change
1		crvUSD tBTC	$5.38M	$3.48M	+$549k
2		crvUSD wstETH	$3.23M	$1.65M	+$3.86k
3		crvUSD sfrxETH	$1.49M	$840k	+$1.96k
...	...	...	...	...	...
-3		crvUSD LBTC	$2.94	$1.02	+$0.0027
-2		crvUSD WETH	$3.3M	$2.05M	-$75.4k
-1		crvUSD WBTC	$22.5M	$10.3M	-$3.66M

Lend Markets - Borrowing Winners & Losers

Borrow demand concentrated heavily in sreUSD and sfrxUSD markets this week, with both posting multi-million dollar increases.

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD sreUSD	$37M	$19.3M	+$4.36M
2		crvUSD sfrxUSD	$9.34M	$7.26M	+$3.53M
3		crvUSD wstETH	$1.04M	$727k	+$67.2k
...	...	...	...	...	...
-3		crvUSD ynETH	$24.5k	$8.97k	-$2.25k
-2		crvUSD WETH	$479k	$224k	-$44.1k
-1		crvUSD WBTC	$3.19M	$2.43M	-$89.5k

Lend Markets - Supplying Winners & Losers

Supplied balances also moved toward sreUSD and sfrxUSD, while fxSAVE, WBTC, and especially sDOLA continued to lose liquidity.

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD sreUSD	$37M	$19.3M	+$4.35M
2		crvUSD sfrxUSD	$9.34M	$7.26M	+$2.14M
3		crvUSD sUSDe	$3.83M	$1.26M	+$340k
...	...	...	...	...	...
-3		crvUSD WBTC	$3.19M	$2.43M	-$185k
-2		crvUSD fxSAVE	$345k	$169k	-$676k
-1		crvUSD sDOLA	$1.69M	$56.1	-$2.43M

Curve's ecosystem continues to expand rapidly, welcoming new teams and pools weekly. If you're interested in launching a pool, lending market, or simply want to connect with the community, join us on Telegram or Discord.

Risk Disclaimer

References to specific pools or Llamalend markets do not constitute endorsements of their safety. We strongly encourage conducting personal risk analysis before engaging with any pools or markets. Please review our detailed risk disclaimers: Pool Risk Disclaimer, Llamalend Risk Disclaimer, crvUSD Risk Disclaimer.