Curve Best Yields & Key Metrics | Week 16, 2026

Market Overview

Curve TVL rose another 3.9% this week to $2.09B, with the broader backdrop for crvUSD still looking calm and well-supported.

Here's the news:

• A new vote would reduce scrvUSD's share of crvUSD minting fees from 80% back to 50% now that crvUSD has stabilized, sending a larger share of those fees back to veCRV holders if it passes. Vote link
• Funding for Swiss Stake to develop and run operations for Curve looks set to pass with near-unanimous support, with participation already above 68% of veCRV. Vote link
• Borrowing conditions kept easing through the week: average crvUSD minting rates fell to 3.3%, the peg held firm, and PegKeepers expanded reserves above $38M.

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

Also, I’ll be trying to continue this newsletter (publishing slightly earlier) for as long as I am able.

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	$16M	8.8%
	PYUSD crvUSD	$42.7M	7.1%
	USDT crvUSD	$16.6M	3.1%
	scrvUSD	$28.9M	3.1%
	frxUSD crvUSD	$15M	2.9%

Other Top USD Yields

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

Chain	Market	Type	Yield
	frxUSD ebUSD	Pool	28.7%
	frxUSD evaUSDT	Pool	20.6%
	frxUSD scrvUSD	Pool	17.9%
	ynRWAx USDC	Pool	17.5%
	sdUSD frxUSD	Pool	14.0%
	ynRWAx ynUSDx	Pool	13.6%
	ynRWAx OUSD	Pool	13.2%
	iUSD frxUSD	Pool	12.2%

Top BTC & ETH Yields

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

Chain	Market	Asset	Yield
	msETH OETH	ETH	5.6%
	msETH WETH	ETH	4.5%
	OETH ARM-WETH-stETH	ETH	4.3%
	cbBTC WBTC LBTC	BTC	3.4%
	WBTC cbBTC hemiBTC	BTC	1.2%
	tBTC WBTC	BTC	0.7%

Other Top Yields

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

Chain	Market	Asset	Yield
	CRV crvUSD	CRV	10.4%
	CRV vsdCRV asdCRV	CRV	10.1%
	EURe WXDAI USDC USDT	FOREX	5.7%
	crvUSD ZCHF	FOREX	4.5%
	crvUSD CJPY	FOREX	4.4%
	crvUSD tBTC WETH	TRICRYPTO	3.5%

Weekly Metrics

crvUSD & scrvUSD

crvUSD conditions continued to improve this week. Borrow rates fell again, the peg stayed effectively at $1, and PegKeeper reserves expanded sharply to $38.5M, with their operations creating profit for the DAO.

Metric	Value	Change
crvUSD Minted	$19.1M	-0.8%
scrvUSD Yield	3.1%	-1.1%
crvUSD inscrvUSD	151.3%	-5.4%
crvUSD Price	$1.0	-
Avg. Borrow Rate	3.3%	-1.8%
Peg Stability Reserves	$38.5M	+$34.8M
PegKeeper Profit	$1.09k	+$1.09k

Llamalend

Llamalend had a positive week, with some users borrowing more as collateral values rose. The drop in supplied balances was largely driven by outflows from the sreUSD lending market.

DEX

As more swaps through Curve's DEX now happen on L2s, we saw more trades but lower total volume. Total fees still rose, largely because 3pool, which has a higher admin fee and base fee than many other pools, took a larger share of weekly volume.

DAO

DAO members saw higher fee generation this week, with stronger DEX fees lifting the weekly veCRV distribution to $78k. The value of CRV emissions also rose in USD terms as the CRV token appreciated.

Metric	Value	Change
CRV Circ. Supply	1.5B	+0.2%
CRV Locked	857M	-0.1%
Total veCRV	781M	-0.2%
veCRV Distribution	$78.2k	+16.4%
veCRV APR	2.334%	+0.261%
CRV Emissions	$482k (2.22M CRV)	+2.4%
Inflation Rate	4.875%	-0.004%

Top Stableswap Pools

Stablecoin flow rotated again this week. 3pool surged back into second with by far the biggest fee take, PYUSD/USDC also jumped sharply, and the new USDC/USDat pool entered the top 10 immediately.

📍	🔄	Chain	Pool	Volume	Fees
1	-		PYUSD USDS	$265.8M	$3.2k
2	+4		DAI USDC USDT	$185.9M	$27.9k
3	+7		PYUSD USDC	$77.1M	$8.2k
4	-2		sUSDS USDT	$74.8M	$1.4k
5	-		USDC crvUSD	$70.0M	$7.0k
6	-2		USDC RLUSD	$58.5M	$12.0k
7	-4		USDC USDT	$56.4M	$885.3
8	-1		WETH weETH	$53.1M	$3.6k
9	+2		USDG USDC	$38.1M	$3.9k
10	+16		USDC USDat	$28.1M	$2.8k

Top Cryptoswap Pools

Cryptoswap rankings were extremely stable again, with the four core Tricrypto pools unchanged at the top. The only real mover was WETH/cbETH on Base, which climbed back into the leaderboard as activity elsewhere stayed muted.

📍	🔄	Chain	Pool	Volume	Fees
1	-		USDT WBTC WETH	$10.7M	$6.2k
2	-		USDC WBTC WETH	$10.7M	$6.0k
3	-		crvUSD WETH CRV	$5.0M	$2.6k
4	-		USDT WBTC WETH	$4.7M	$10.1k
5	-		EURe WXDAI USDC USDT	$2.7M	$911.6
6	+5		WETH cbETH	$1.4M	$438.3

Gauge Winners & Losers

It was a big week for gauge emission rotations. msETH/WETH and PYUSD/crvUSD picked up the biggest increases, while emissions were cut most aggressively from MUSD/USDC/USDT.

📍	Chain	Pool	TVL	CRV Emissions	Change
1		msETH WETH	$18.7M	117k	+48.2k
2		PYUSD crvUSD	$42.7M	49.3k	+43.7k
3		frxUSD evaUSDT	$625k	15.1k	+14.8k
...	...	...	...	...	...
-3		ETH ETHx	$4.48M	86.8	-7.15k
-2		OUSD USDC	$1.31M	2.89k	-7.69k
-1		MUSD USDC USDT	$1.64M	7.27k	-25.5k

DEX Winners & Losers

Fees Winners & Losers

Fee growth was dominated by 3pool this week, with PYUSD/USDC a distant second. RLUSD was the biggest fee decliner, reflecting its bursty trading pattern.

📍	Chain	Pool	Volume	Fees	Change
1		DAI USDC USDT	$186M	$27.9k	+$20.5k
2		PYUSD USDC	$77.1M	$8.17k	+$5.63k
3		apyUSD apxUSD	$2.22M	$4.44k	+$3.25k
...	...	...	...	...	...
-3		frxUSD msUSD	$5.02M	$2.06k	-$2.89k
-2		crvUSD YB	$880k	$2.92k	-$3.36k
-1		USDC RLUSD	$58.5M	$12k	-$10.2k

Volume Winners & Losers

Volume rotated back toward classic stablecoin routing. 3pool, PYUSD/USDC, and the new USDC/USDat pool were the main gainers, while the USDS pools cooled sharply from their prior highs.

📍	Chain	Pool	Volume	Fees	Change
1		DAI USDC USDT	$186M	$27.9k	+$136M
2		PYUSD USDC	$77.1M	$8.17k	+$53.1M
3		USDC USDat	$28.1M	$2.83k	+$23.8M
...	...	...	...	...	...
-3		USDC USDT	$56.4M	$885	-$94.8M
-2		PYUSD USDS	$266M	$3.21k	-$165M
-1		sUSDS USDT	$74.8M	$1.43k	-$225M

TVL Winners & Losers

The PegKeepers started deploying this week, making USDC/crvUSD the biggest TVL gainer. OETH/WETH and the new USD1 pool also attracted meaningful capital, while PYUSD/crvUSD and RLUSD both gave back liquidity.

📍	Chain	Pool	TVL	Change
1		USDC crvUSD	$57.2M	+$33.5M
2		OETH WETH	$68M	+$11.3M
3		USD1 USDC USDT	$10M	+$10M
...	...	...	...	...
-3		ETH frxETH	$1.92M	-$2.46M
-2		USDC RLUSD	$90.7M	-$6.33M
-1		PYUSD crvUSD	$42.7M	-$10.7M

Llamalend Winners & Losers

crvUSD Minting Markets - Borrowing Winners & Losers

Borrowing demand increased across all but one market, WETH.

📍	Chain	Market	Collateral	Borrowed	Change
1		crvUSD sfrxETH	$1.94M	$999k	+$174k
2		crvUSD WBTC	$24.2M	$10.5M	+$101k
3		crvUSD wstETH	$3.63M	$1.74M	+$39.1k
...	...	...	...	...	...
-3		crvUSD weETH	$337k	$145k	+$132
-2		crvUSD LBTC	$3.14	$1.03	+$0.00235
-1		crvUSD WETH	$2.53M	$1.29M	-$517k

Lend Markets - Borrowing Winners & Losers

Borrow demand concentrated heavily in sfrxUSD this week, with wstETH a distant second. Outside that, most markets were quiet, which makes the sfrxUSD move the only truly significant shift.

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD sfrxUSD	$13.2M	$9.72M	+$1.75M
2		crvUSD wstETH	$1.15M	$868k	+$137k
3		crvUSD sUSDe	$2.76M	$1.6M	+$15.3k
...	...	...	...	...	...
-3		crvUSD CRV	$4.18M	$3.37M	-$6.34k
-2		crvUSD WBTC	$22.2k	$0.12	-$13.3k
-1		crvUSD WETH	$1.08M	$734k	-$22k

Lend Markets - Supplying Winners & Losers

Supplier flows told a similar story: sfrxUSD and WBTC pulled in fresh capital, while sreUSD remained the main source of outflows. sDOLA also continued to unwind.

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD sfrxUSD	$13.2M	$9.72M	+$1.14M
2		crvUSD WBTC	$3.65M	$2.32M	+$745k
3		crvUSD wstETH	$1.15M	$868k	+$179k
...	...	...	...	...	...
-3		crvUSD sUSDe	$2.76M	$1.6M	-$186k
-2		crvUSD sDOLA	$573k	$59.5k	-$362k
-1		crvUSD sreUSD	$31.8M	$18M	-$3.71M

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.