Curve Best Yields & Key Metrics | Week 18, 2026

Market Overview

Curve had a very positive week. Here's the news:

• TVL held steady this week, edging up 0.7% to $2.021B.
• crvUSD minting had explosive growth, surging 127% to $61.3M.
• A DAO proposal from Mich outlines a novel, free-market mechanism to recover the ~$700k bad debt in the CRV-long LlamaLend market, using a Curve stableswap pool that turns vault tokens into an investable option-like asset. The pool is deployed with a gauge vote underway.
• YieldBasis published a 7-month retrospective showing strong results through the bear market: 5.4–9.9% native BTC APY, $3.84M in fees distributed, 99% TVL retention, and no security incidents.

As always, see all 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	$14.8M	10.5%
	USDT crvUSD	$23.9M	3.9%
	frxUSD crvUSD	$20.1M	3.8%
	USDC crvUSD	$67.1M	3.1%
	crvUSD sfrxUSD	$15.6M	2.1%

Other Top USD Yields

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

Chain	Market	Type	Yield
	evaUSDC avUSD	Pool	45.2%
	frxUSD sDOLA	Pool	44.3%
	frxUSD sUSDat	Pool	40.0%
	ynRWAx USDC	Pool	22.2%
	frxUSD savUSD	Pool	21.7%
	ynRWAx OUSD	Pool	16.7%
	sdUSD frxUSD	Pool	16.0%
	scrvUSD sDOLA	Pool	15.1%

Top BTC & ETH Yields

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

Chain	Market	Asset	Yield
	alETH WETH	ETH	9.8%
	ynETHx WETH	ETH	5.9%
	msETH WETH	ETH	5.9%
	cbBTC WBTC LBTC	BTC	2.0%
	cbBTC tBTC WBTC	BTC	1.4%
	cbBTC WBTC	BTC	0.7%

Other Top Yields

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

Chain	Market	Asset	Yield
	CRV vsdCRV asdCRV	CRV	10.4%
	CRV crvUSD	CRV	10.4%
	EURe WXDAI USDC USDT	FOREX	4.8%
	crvUSD CJPY	FOREX	4.7%
	crvUSD ZCHF	FOREX	4.2%
	crvUSD tBTC wstETH	TRICRYPTO	3.0%
	XAUt PAXG	GOLD	0.7%

Weekly Metrics

crvUSD & scrvUSD

crvUSD experienced its largest single-week expansion in recent memory, with minted supply skyrocketing 127% as borrowing rates remained low. The share of crvUSD in scrvUSD collapsed as the savings yield cratered to 0.3%, but through it all the peg held firm and PegKeepers turned a healthy $9.36k profit.

Metric	Value	Change
crvUSD Minted	$61.3M	+127.0%
scrvUSD Yield	0.3%	-1.0%
crvUSD inscrvUSD	38.0%	-55.2%
crvUSD Price	$0.9997	-$0.0003
Avg. Borrow Rate	0.8%	+0.2%
Peg Stability Reserves	$65M	-$81.3M
PegKeeper Profit	$9.36k	+$1.73k

Llamalend

Llamalend saw explosive growth, with TVL jumping, and borrowing surging as cheap crvUSD minting rates and fallout from the rsETH hack drove a wave of new crvUSD borrowing. Lend markets didn’t see the same expansion as minting markets, however, and supplied amounts slightly fell.

DEX

After last week's extraordinary volume spike from the LayerZero/rsETH fallout, Curve's DEX returned to more typical levels. Volume dropped 39.8% and total fees fell 71.5% as the stETH volatility trade unwound.

DAO

DAO metrics reflected the quieter DEX week, with veCRV distributions falling 29.1% to $123k, pushing veCRV APR down to 3.5%.

Metric	Value	Change
CRV Circ. Supply	1.51B	+0.2%
CRV Locked	856M	-0.1%
Total veCRV	782M	+0.3%
veCRV Distribution	$123k	-29.1%
veCRV APR	3.523%	-1.733%
CRV Emissions	$503k (2.22M CRV)	-2.0%
Inflation Rate	4.866%	-0.005%

Top Stableswap Pools

Volume rotated sharply this week. sUSDS/USDT surged to #1 with $355M, while USDC/USDT leapt from #10 to #2 with $201M. Last week's leaders — PYUSD/USDS and ETH/stETH — both cooled significantly, with ETH/stETH falling from #2 to #5 as the stETH volatility trade subsided.

📍	🔄	Chain	Pool	Volume	Fees
1	+2		sUSDS USDT	$355.4M	$7.2k
2	+8		USDC USDT	$200.7M	$2.3k
3	-2		PYUSD USDS	$181.3M	$1.9k
4	+2		USDC crvUSD	$100.1M	$10.0k
5	-3		ETH stETH	$99.7M	$10.0k
6	+3		DAI USDC USDT	$56.3M	$8.4k
7	-3		USDC RLUSD	$34.1M	$6.9k
8	-		ETH stETH	$27.8M	$2.2k
9	+3		USDT crvUSD	$25.0M	$2.5k
10	-5		PYUSD USDC	$21.2M	$2.2k

Top Cryptoswap Pools

Cryptoswap rankings were mostly stable, with only small changes in positions.

📍	🔄	Chain	Pool	Volume	Fees
1	+1		USDC WBTC WETH	$8.1M	$4.2k
2	-1		USDT WBTC WETH	$6.7M	$3.7k
3	-		USDT WBTC WETH	$5.8M	$8.4k
4	+1		crvUSD WETH CRV	$3.0M	$1.7k
5	+1		EURe WXDAI USDC USDT	$2.3M	$777.4
6	+1		WETH cbETH	$1.2M	$384.9

Gauge Winners & Losers

CRV emissions were in high demand, with many pools battling for the best yields.

📍	Chain	Pool	TVL	CRV Emissions	Change
1		stETH frxETH	$15.9M	13.3k	+13.3k
2		MUSD USDC USDT	$943k	18.3k	+11k
3		evaUSDT evaUSDC	$538k	9.55k	+9.55k
...	...	...	...	...	...
-3		frxUSD evaUSDT	$857k	920	-14k
-2		PYUSD crvUSD	$41.6M	5.66k	-43.6k
-1		OETH WETH	$65.1M	3.77k	-62.9k

DEX Winners & Losers

Fees Winners & Losers

Fee moves were dramatically smaller after last week's stETH-driven swings. ETH/stETH and USDC/RLUSD were the biggest fee decliners, giving back $57k and $86k respectively as both returned to normal levels. Gains were modest across the board.

📍	Chain	Pool	Volume	Fees	Change
1		ETH ETHx	$3.46M	$1.38k	+$653
2		MIM DAI USDC USDT	$1.68M	$670	+$637
3		bnbUSD Sigma	$26.9k	$637	-
...	...	...	...	...	...
-3		PYUSD USDC	$21.2M	$2.18k	-$22.9k
-2		ETH stETH	$99.7M	$9.97k	-$57k
-1		USDC RLUSD	$34.1M	$6.86k	-$86k

Volume Winners & Losers

Volume reflected the cooldown from last week's spike after the LayerZero incident inflated usual volumes. USDC/USDT bucked the trend, gaining $94M as stablecoin routing shifted toward the plain vanilla pair.

📍	Chain	Pool	Volume	Fees	Change
1		USDC USDT	$201M	$2.32k	+$94M
2		USAT USDT	$9.06M	$0	+$9.01M
3		ETH ETHx	$3.46M	$1.38k	+$1.64M
...	...	...	...	...	...
-3		USDC RLUSD	$34.1M	$6.86k	-$387M
-2		PYUSD USDS	$181M	$1.95k	-$521M
-1		ETH stETH	$99.7M	$9.97k	-$570M

TVL Winners & Losers

USDC/crvUSD was the biggest TVL loser, as PegKeepers withdrew from USDC while borrowing demand surged. RLUSD won the week of TVL increases.

📍	Chain	Pool	TVL	Change
1		USDC RLUSD	$80.2M	+$17.6M
2		USDT crvUSD	$23.9M	+$9.91M
3		apxUSD USDC	$25.1M	+$8.53M
...	...	...	...	...
-3		PYUSD crvUSD	$43M	-$5.8M
-2		crvUSD cbBTC	$141M	-$9.95M
-1		USDC crvUSD	$67.1M	-$86.5M

Llamalend Winners & Losers

crvUSD Minting Markets - Borrowing Winners & Losers

The crvUSD minting explosion was broad-based, with wstETH leading but every market experiencing an increase, except for the depreciated sfrxETHv1 market.

📍	Chain	Market	Collateral	Borrowed	Change
1		crvUSD wstETH	$31.5M	$19.3M	+$13.5M
2		crvUSD weETH	$13.5M	$10.2M	+$10M
3		crvUSD WBTC	$47.2M	$21.4M	+$8.68M
...	...	...	...	...	...
-3		crvUSD tBTC	$7.5M	$4.69M	+$24.6k
-2		crvUSD LBTC	$3.18	$1.04	+$0.00215
-1		crvUSD sfrxETH	$363k	$153k	-$45.7

Lend Markets - Borrowing Winners & Losers

Lend market borrowing was subdued compared to the minting side. sfrxUSD shed $688k — a sharp reversal from last week — and Ethereum WETH gave back $180k. Gains were small across the board, with sUSDe and WBTC managing only modest increases.

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD sUSDe	$2.79M	$2M	+$73.2k
2		crvUSD WBTC	$3.65M	$2.6M	+$61.2k
3		crvUSD sreUSD	$29M	$19.1M	+$7.21k
...	...	...	...	...	...
-3		crvUSD wstETH	$965k	$739k	-$56.4k
-2		crvUSD WETH	$1.05M	$580k	-$180k
-1		crvUSD sfrxUSD	$15.6M	$11.2M	-$688k

Lend Markets - Supplying Winners & Losers

Supplier flows continued the rotation out of major lending markets and into direct crvUSD minting. sreUSD shed $263k, while sfrxUSD gave back $124k. Gains were minimal — asdCRV on Arbitrum led with just $18.2k.

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD asdCRV	$803k	$403k	+$18.2k
2		crvUSD CRV	$20.9k	$10.2k	+$2.24k
3		crvUSD sUSDe	$2.79M	$2M	+$1.22k
...	...	...	...	...	...
-3		crvUSD wstETH	$965k	$739k	-$61.3k
-2		crvUSD sfrxUSD	$15.6M	$11.2M	-$124k
-1		crvUSD sreUSD	$29M	$19.1M	-$263k

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.