Curve Best Yields & Key Metrics | Week 23, 2026

Market Overview

It was another tough week, with broader DeFi TVL down 8.0%. Curve held up slightly better, with TVL down 6.8% to $1.74B.

• @phil_00Llama's new suggested TricryptoUSDT parameters have helped LPs and the DAO generate 3x more revenue than the TricryptoUSDC pool in the 3 days since they were applied.
• LlamaRisk is ending its Curve engagement early due to an exclusive agreement with Aave.
• crvUSD was less affected by the market downturn, as YieldBasis's new v3 pools and hybrid vaults help keep the peg strong.

As always, see the highlighted opportunities and all the 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.

Top USD Yields

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

Chain	Market	Type	Yield
	frxUSD USP	Pool	>200%
	USDp frxUSD	Pool	23.6%
	ynUSDx scrvUSD	Pool	18.8%
	sdUSD frxUSD	Pool	14.5%
	crvUSD sfrxETH	Llamalend	12.0%
	evaUSDC avUSD	Pool	10.9%
	frxUSD evaUSDT	Pool	10.5%
	USDC savUSD	Pool	10.4%
	frxUSD DUSD	Pool	8.9%

Top BTC & ETH Yields

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

Chain	Market	Asset	Yield
	alETH WETH	ETH	10.0%
	msETH WETH	ETH	6.6%
	msETH OETH	ETH	6.1%
	cbBTC WBTC LBTC	BTC	2.3%
	WBTC cbBTC hemiBTC	BTC	2.0%
	tBTC WBTC	BTC	0.9%

Other Top Yields

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

Chain	Market	Asset	Yield
	CRV crvUSD	CRV	12.6%
	CRV sdCRV	CRV	10.6%
	EURe WXDAI USDC USDT	FOREX	5.8%
	crvUSD CJPY	FOREX	5.0%
	crvUSD ZCHF	FOREX	4.0%
	crvUSD tBTC WETH	TRICRYPTO	3.8%
	XAUt PAXG	GOLD	0.2%

Weekly Metrics

crvUSD & scrvUSD

The drop in BTC and ETH prices caused borrowers to close loans, with crvUSD minted falling 7.0%. The peg held up at $0.9984, even as BTC and ETH prices fell more than 10% each.

Metric	Value	Change
crvUSD Minted	$52.2M	-7.0%
scrvUSD Yield	2.5%	-1.0%
crvUSD inscrvUSD	38.2%	+0.9%
crvUSD Price	$0.9984	-$0.0006
Avg. Borrow Rate	6.3%	+2.3%
Peg Stability Reserves	$0	-$25.6M
PegKeeper Profit	$1.1k	-$3.53k

Llamalend

The market downturn caused most Llamalend metrics to deteriorate, though crvUSD supplied increased. This may be crvUSD from unbalanced YieldBasis pools searching for yield, especially as scrvUSD yield declines.

DEX

Curve's DEX saw lower TVL, but volume and fees rose sharply as expected during the volatility. Interestingly, there were fewer swaps overall, causing the average swap size to increase substantially.

DAO

The DAO saw another good-sized distribution to veCRV holders, while the lower CRV price reduced the USD value of weekly CRV emissions.

Metric	Value	Change
CRV Circ. Supply	1.52B	+0.1%
CRV Locked	854M	-
Total veCRV	788M	-
veCRV Distribution	$115k	-5.0%
veCRV APR	3.916%	+0.13%
CRV Emissions	$469k (2.22M CRV)	-7.3%
Inflation Rate	4.844%	-0.005%

Top Stableswap Pools

USDtb (backed by BlackRock's BUIDL) was in high demand this week, with both demand and supply increasing. The weaker point was apxUSD depegging after its backing collateral, STRC, also lost its $100 target price.

📍	🔄	Chain	Pool	Volume	Fees
1	-		PYUSD USDS	$226.3M	$2.7k
2	+4		USDC USDtb	$146.1M	$15.1k
3	-1		DAI USDC USDT	$121.4M	$18.2k
4	+26		apxUSD USDC	$95.9M	$13.3k
5	+7		USDC RLUSD	$79.7M	$16.2k
6	-3		USDT crvUSD	$72.3M	$7.2k
7	+3		PYUSD USDC	$68.7M	$8.2k
8	-		USDG USDC	$59.7M	$6.1k
9	-2		USDC USDat	$53.0M	$5.3k
10	+1		ETH stETH	$42.7M	$4.3k

Top Cryptoswap Pools

Optimized TricryptoUSDT parameters have helped LPs and the DAO generate 3x more revenue than the TricryptoUSDC pool in the 3 days since they were applied. Next week should show whether this trend continues.

STG also saw strong demand after the LayerZero acquisition news.

📍	🔄	Chain	Pool	Volume	Fees
1	-		USDT WBTC WETH	$11.5M	$7.3k
2	-		USDC WBTC WETH	$10.7M	$6.8k
3	-		crvUSD WETH CRV	$3.8M	$2.5k
4	+11		STG USDC	$3.6M	$13.4k
5	-		EURe WXDAI USDC USDT	$2.7M	$970.3
6	+4		reUSDe sUSDe	$2.1M	$1.1k

Gauge Winners & Losers

Gauge changes were small this week, as it was an off week for Convex voting.

📍	Chain	Pool	TVL	CRV Emissions	Change
1		evaUSDT evaUSDC	$3.28M	37.7k	+644
2		WBTC cbBTC hemiBTC	$3.14M	9.48k	+154
3		WETH superOETHb	$14M	146	+92.3
...	...	...	...	...	...
-3		CRV sdCRV	$812k	10.7k	-209
-2		frxUSD msUSD	$14.3M	148k	-210
-1		USDC USG	$1.79M	23.8k	-403

DEX Winners & Losers

Fees Winners & Losers

Apyx's apyUSD and apxUSD saw heavy trading this week after STRC, part of their backing collateral, lost its $100 target price.

📍	Chain	Pool	Volume	Fees	Change
1		apyUSD apxUSD	$37.3M	$75.9k	+$73.3k
2		apxUSD USDC	$95.9M	$13.3k	+$13k
3		STG USDC	$3.65M	$13.4k	+$12.3k
...	...	...	...	...	...
-3		CRV sdCRV	$369k	$923	-$1.16k
-2		USDC crvUSD	$37.5M	$3.75k	-$1.4k
-1		WETH USDC	$2.75M	$5.5k	-$1.92k

Volume Winners & Losers

The same pools showed up across multiple winner categories again. USDtb volume was especially strong this week, even without an obvious single catalyst.

📍	Chain	Pool	Volume	Fees	Change
1		USDC USDtb	$146M	$15.1k	+$103M
2		apxUSD USDC	$95.9M	$13.3k	+$92.3M
3		USDC RLUSD	$79.7M	$16.2k	+$59.3M
...	...	...	...	...	...
-3		USDC crvUSD	$37.5M	$3.75k	-$14M
-2		USDC USDT	$19.6M	$468	-$14.1M
-1		sUSDS USDT	$32.3M	$1k	-$21M

TVL Winners & Losers

RLUSD led the week in TVL additions, with CoinShift's USPC second after its TVL increased nearly 10x over the week.

📍	Chain	Pool	TVL	Change
1		USDC RLUSD	$78.6M	+$7.4M
2		frxUSD USPC	$5.65M	+$4.99M
3		apxUSD USDC	$44.1M	+$4.59M
...	...	...	...	...
-3		ETH stETH	$73.4M	-$8.78M
-2		sUSDS USDT	$40M	-$9.97M
-1		USDT crvUSD	$17.1M	-$25.4M

Llamalend Winners & Losers

crvUSD Minting Markets - Borrowing Winners & Losers

The only addition this week was a very small buildup of debt in the LBTC market; all other markets saw outflows as borrowers closed loans.

📍	Chain	Market	Collateral	Borrowed	Change
1		crvUSD LBTC	$2.65	$1.05	+$0.00143
2		crvUSD sfrxETH	$284k	$153k	-$121
3		crvUSD weETH	$13.6M	$10.2M	-$7.67k
...	...	...	...	...	...
-3		crvUSD tBTC	$5.31M	$3.78M	-$1.13M
-2		crvUSD WBTC	$31M	$15.5M	-$1.21M
-1		crvUSD wstETH	$28.1M	$18.1M	-$1.4M

Lend Markets - Borrowing Winners & Losers

Some WBTC borrowers moved to the cheaper lend market, but overall borrowing flows were mostly negative.

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD WBTC	$4.01M	$3.08M	+$40.6k
2		crvUSD WETH	$705k	$492k	+$37k
3		crvUSD fxSAVE	$708k	$347k	+$5.4k
...	...	...	...	...	...
-3		crvUSD CRV	$3.05M	$3.05M	-$26.5k
-2		crvUSD sreUSD	$26.3M	$18.5M	-$86.5k
-1		crvUSD sUSDe	$2.84M	$2.05M	-$119k

Lend Markets - Supplying Winners & Losers

fxSAVE saw the biggest liquidity addition, helped by being the highest-yielding stablecoin market currently available on Llamalend.

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD sreUSD	$26.3M	$18.5M	+$566k
2		crvUSD fxSAVE	$708k	$347k	+$261k
3		crvUSD WBTC	$4.01M	$3.08M	+$74.7k
...	...	...	...	...	...
-3		crvUSD sfrxETH	$252k	$192k	-$43.1k
-2		crvUSD sfrxUSD	$17.8M	$12.5M	-$181k
-1		crvUSD asdCRV	$298k	$11.6k	-$311k

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.