Curve Best Yields & Key Metrics | Week 15, 2026

Market Overview

Green shoots appeared for Curve this week. Here's the news:

• TVL moved back above $2B, rising 3.9% to **$2.009B**
• The crvUSD price moved above $1.00, while borrowing rates decreased, borrowed supply increased slightly, and PegKeepers began to refill.
• YieldBasis launched the first of its Hybrid vaults with WETH, offering a way to earn yield on WETH and crvUSD separately while helping strengthen crvUSD.

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

After 70 consecutive weeks of yield reports, this is my (Saint Rat's) final yield newsletter. Thank you for taking the time to read these, and I hope they provided value.

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	$15.9M	8.4%
	scrvUSD	$30.2M	4.3%
	USDT crvUSD	$18.4M	3.3%
	frxUSD crvUSD	$14.2M	2.7%
	USDC crvUSD	$23.7M	2.6%

Other Top USD Yields

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

Chain	Market	Type	Yield
	BUCK USDC	Pool	20.7%
	ynRWAx USDC	Pool	17.9%
	sdUSD frxUSD	Pool	16.0%
	crvUSD sfrxUSD	Llamalend	15.0%
	ynRWAx ynUSDx	Pool	14.2%
	ynUSDx scrvUSD	Pool	12.2%
	ynRWAx OUSD	Pool	11.6%
	MUSD USDC USDT	Pool	11.4%

Top BTC & ETH Yields

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

Chain	Market	Asset	Yield
	msETH OETH	ETH	6.3%
	ynETHx WETH	ETH	4.4%
	ETH+ WETH	ETH	4.1%
	cbBTC WBTC LBTC	BTC	3.8%
	WBTC cbBTC hemiBTC	BTC	1.3%
	cbBTC WBTC	BTC	0.4%

Other Top Yields

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

Chain	Market	Asset	Yield
	CRV vsdCRV asdCRV	CRV	10.1%
	CRV yCRV	CRV	9.4%
	EURe WXDAI USDC USDT	FOREX	5.8%
	crvUSD CJPY	FOREX	5.2%
	crvUSD ZCHF	FOREX	4.9%
	crvUSD tBTC WETH	TRICRYPTO	3.1%
	XAUt PAXG	GOLD	0.3%

Weekly Metrics

crvUSD & scrvUSD

After crvUSD minted supply stabilized last week, this week there was positive minted supply growth, which feels like all the hard work is finally starting to pay off. The crvUSD price was also above $1.00, causing PegKeepers to start deploying their reserves.

Metric	Value	Change
crvUSD Minted	$19.3M	+0.8%
scrvUSD Yield	4.3%	+0.2%
crvUSD inscrvUSD	156.7%	-21.5%
crvUSD Price	$1.0001	+$0.0031
Avg. Borrow Rate	5.0%	-1.5%
Peg Stability Reserves	$3.71M	+$3.71M
PegKeeper Profit	$0	-

Llamalend

Llamalend was mixed but constructive. TVL and collateral recovered, while supplied and borrowed balances both slipped slightly. The increase in loan count suggests more positions were active again, just not at larger average size.

DEX

Curve's DEX recovered in volume terms this week, but the composition mattered: swaps fell, fees fell, and only volume rose. That usually points to larger flow-driven trades concentrated in low-fee stablecoin routes, which is largely what we saw.

DAO

DAO metrics bounced off last week's softer base. veCRV distribution and APR both recovered meaningfully, though CRV emissions in USD continued to edge lower alongside CRV price.

Metric	Value	Change
CRV Circ. Supply	1.5B	+0.1%
CRV Locked	857M	-
Total veCRV	783M	+0.1%
veCRV Distribution	$67.1k	+36.5%
veCRV APR	2.073%	+0.482%
CRV Emissions	$471k (2.22M CRV)	-1.7%
Inflation Rate	4.88%	-0.005%

Top Stableswap Pools

The rebound in DEX activity was overwhelmingly a stablecoin story. PYUSD/USDS and sUSDS/USDT both snapped back, RLUSD kept generating outsized fees, and PYUSD/crvUSD jumped back into the top 10 as liquidity returned.

📍	🔄	Chain	Pool	Volume	Fees
1	-		PYUSD USDS	$431.0M	$5.3k
2	-		sUSDS USDT	$299.6M	$3.5k
3	+1		USDC USDT	$151.2M	$1.6k
4	-1		USDC RLUSD	$108.3M	$22.1k
5	+1		USDC crvUSD	$59.0M	$5.9k
6	-1		DAI USDC USDT	$49.4M	$7.4k
7	+13		WETH weETH	$39.1M	$2.8k
8	+2		USDT crvUSD	$32.3M	$3.2k
9	+13		PYUSD crvUSD	$24.4M	$3.3k
10	+1		PYUSD USDC	$24.0M	$2.5k

Top Cryptoswap Pools

Cryptoswap activity was still comparatively subdued, with the usual Tricrypto pools holding the board. The interesting exception was crvUSD/YB, which climbed into the top six on relatively small but high-fee flow.

📍	🔄	Chain	Pool	Volume	Fees
1	+1		USDT WBTC WETH	$10.3M	$5.9k
2	-1		USDC WBTC WETH	$10.2M	$5.7k
3	+1		crvUSD WETH CRV	$4.9M	$2.8k
4	-1		USDT WBTC WETH	$4.2M	$8.8k
5	-		EURe WXDAI USDC USDT	$2.9M	$967.3
6	+6		crvUSD YB	$1.6M	$6.3k

Gauge Winners & Losers

It was Convex's off week, so gauge votes were almost unchanged.

📍	Chain	Pool	TVL	CRV Emissions	Change
1		MIM DAI USDC USDT	$10.1M	40.3k	+2.28k
2		frxUSD evaUSDT	$60.1k	323	+323
3		frxUSD msUSD	$9.83M	110k	+226
...	...	...	...	...	...
-3		OUSD msUSD	$294k	2.56k	-174
-2		OETH WETH	$56.7M	72.8k	-208
-1		pmUSD crvUSD	$15.9M	256k	-2.28k

DEX Winners & Losers

Fees Winners & Losers

Fee growth centered on RLUSD and crvUSD-linked routes this week.

📍	Chain	Pool	Volume	Fees	Change
1		USDC RLUSD	$108M	$22.1k	+$8.66k
2		crvUSD YB	$1.57M	$6.28k	+$4.11k
3		USDC crvUSD	$59M	$5.9k	+$2.45k
...	...	...	...	...	...
-3		USDT WBTC WETH	$4.19M	$8.76k	-$4k
-2		sDAI sUSDe	$3.82M	$783	-$5.44k
-1		msETH WETH	$10.4M	$4.18k	-$7.4k

Volume Winners & Losers

The rebound in DEX volume was almost entirely driven by core stablecoin routing, led by USDS pools and USDC/USDT. By contrast, last week's big movers like USDtb and sDAI/sUSDe gave back flow.

📍	Chain	Pool	Volume	Fees	Change
1		sUSDS USDT	$300M	$3.46k	+$229M
2		USDC USDT	$151M	$1.61k	+$89.1M
3		PYUSD USDS	$431M	$5.27k	+$51.4M
...	...	...	...	...	...
-3		msETH WETH	$10.4M	$4.18k	-$18.5M
-2		USDC USDtb	$8.41M	$852	-$20.4M
-1		sDAI sUSDe	$3.82M	$783	-$26.9M

TVL Winners & Losers

Liquidity rotated to the PYUSD/crvUSD PegKeeper pool and YieldBasis's crvUSD/WETH pool as it deployed its new Hybrid vaults.

📍	Chain	Pool	TVL	Change
1		PYUSD crvUSD	$53.4M	+$15.9M
2		crvUSD WETH	$52.4M	+$7.27M
3		ETH stETH	$92.9M	+$6.31M
...	...	...	...	...
-3		GHO crvUSD	$2.01M	-$2.37M
-2		USDC RLUSD	$97M	-$6.35M
-1		FRAX USDe	$54.9M	-$10.8M

Llamalend Winners & Losers

crvUSD Minting Markets - Borrowing Winners & Losers

There were no net outflows from any minting market this week, which is a very positive development.

📍	Chain	Market	Collateral	Borrowed	Change
1		crvUSD WBTC	$22.9M	$10.4M	+$119k
2		crvUSD wstETH	$3.27M	$1.7M	+$50.4k
3		crvUSD sfrxETH	$1.41M	$826k	+$25.5k
...	...	...	...	...	...
-3		crvUSD sfrxETH	$350k	$152k	+$844
-2		crvUSD weETH	$313k	$144k	+$613
-1		crvUSD LBTC	$2.97	$1.03	+$0.00563

Lend Markets - Borrowing Winners & Losers

Borrow demand rotated meaningfully out of sreUSD and back toward sUSDe, with CRV also seeing a decent pickup.

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD sUSDe	$2.95M	$1.59M	+$186k
2		crvUSD CRV	$4.34M	$3.37M	+$75.9k
3		crvUSD sfrxUSD	$12M	$7.97M	+$55.5k
...	...	...	...	...	...
-3		crvUSD asdCRV	$867k	$424k	-$7.51k
-2		crvUSD wstETH	$972k	$731k	-$34.5k
-1		crvUSD sreUSD	$35.5M	$18M	-$1.5M

Lend Markets - Supplying Winners & Losers

Supplier behavior told the same story even more clearly: sreUSD saw the largest outflow by far, while CRV, WETH, and sfrxUSD markets absorbed modest inflows.

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD CRV	$4.34M	$3.37M	+$58.2k
2		crvUSD WETH	$1.06M	$756k	+$43.7k
3		crvUSD sfrxUSD	$12M	$7.97M	+$41.7k
...	...	...	...	...	...
-3		crvUSD WBTC	$2.91M	$2.32M	-$51.9k
-2		crvUSD WBTC	$358k	$210k	-$58k
-1		crvUSD sreUSD	$35.5M	$18M	-$2.19M

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.