Curve Best Yields & Key Metrics | Week 31, 2025

Market Overview

Well, it's been another interesting week. Volatility has remained high, generating over $2B in volume, which made it another strong week for LPs and the Curve DAO through earned fees. This week, including last week’s unprocessed fees, veCRV holders received a total of $569k. Nice!

Curve’s TVL held steady at $2.57B, down just 1.2%. Top yields are slightly lower this week, as rewards are spread across more pools and markets. That said, there are still great yields available on low-risk assets across the board. Check them out, along with the latest metrics, below.

We’re also trialing a new “Winners and Losers” section for lending markets. Let us know what you think. Feedback is always welcome.

Top Yields

USD Stablecoins

Chain	Market	Type	Yield
	USDC jUSD	Pool	25.7%
	alUSD USDC	Pool	22.5%
	deUSD USDT	Pool	19.5%
	scUSD frxUSD	Pool	18.5%
	sdeUSD deUSD	Pool	18.3%
	crvUSD SQUID	Llamalend	17.7%
	DOLA scrvUSD	Pool	17.0%
	frxUSD crvUSD	Pool	16.0%
	deUSD USDC	Pool	15.4%
	sfrxUSD scrvUSD	Pool	14.5%

Top BTC & ETH Yields

Chain	Market	Asset	Yield
	scETH frxETH	ETH	11.4%
	WBTC uniBTC	BTC	9.9%
	ETH+ WETH	ETH	7.6%
	WETH superOETHb	ETH	6.9%
	frxETH sfrxETH	ETH	6.7%
	uniBTC brBTC	BTC	5.9%
	tBTC cbBTC	BTC	2.8%
	EBTC tBTC	BTC	2.0%

Other Top Yields

Chain	Market	Asset	Yield
	CRV frxUSD	CRV	27.9%
	CRV crvUSD	CRV	24.7%
	crvUSD WBTC WETH	TRICRYPTO	12.0%
	crvUSD tBTC WETH	TRICRYPTO	10.6%
	EURA EURT EURS	EUR	6.9%
	EURA EURC	EUR	3.8%

Weekly Metrics

crvUSD & scrvUSD

After last week's increase across the board, everything is moderating again for now. As always, the peg remains strong, and there is some high, low-risk yield available in the scrvUSD vault.

Metric	Value	Change
crvUSD Minted	$116M	-0.5%
Peg Stability Reserves	$12M	-$553k
scrvUSD Interest Rate	7.1%	-0.1%
crvUSD inscrvUSD	45.2%	+0.3%
crvUSD Price	$0.9997	-$0.0006
Avg. Borrow Rate	7.2%	+0.2%

DEX

After last week's crazy metrics, everything has calmed slightly, but these are still great volumes and fees.

Llamalend

A few more borrowers have come to Llamalend, with all other metrics remaining steady.

DAO

veCRV holders received almost a double distribution of fees this week, after an issue with the automatic conversion to crvUSD prevented all but $80k from being distributed last week. This is why the metric has increased significantly. The recent rise in CRV's price has also boosted the value of emissions distributed to pools and lending markets each week.

Metric	Value	Change
CRV Circ. Supply	1.38B	+0.2%
CRV Locked	873M	+0.1%
Total veCRV	796M	-0.4%
veCRV Distribution	$569k	+614.3%
CRV Emissions	$2.69M (2.64M CRV)	+5.0%
Inflation Rate	6.0%	-0.1%

Top Pools by Fees

The CVX/WETH pool is once again in the top spot for fees generated. Most of the highest-fee pools this week are Cryptoswap pools (volatile assets), as Stableswap pools (pegged assets) typically offer lower fees and are more competitive.

Fees here are the total fees paid by traders for access to liquidity.

📌	🔃	Chain	Pool	Swaps	Volume	Fees
1	-		WETH CVX	3.3k	$17.8M	$67.8k
2	-		ETH stETH	1.7k	$349.2M	$34.9k
3	+2		USDT WBTC WETH	2.5k	$22.3M	$31.2k
4	-		crvUSD WETH CRV	12.4k	$38.8M	$28.2k
5	+1		DAI USDC USDT	1.5k	$142.5M	$21.4k
6	+4		frxETH CVX	1.4k	$4.7M	$17.3k
7	-		USDC WBTC WETH	7.4k	$32.4M	$16.1k
8	+1		USDC RLUSD	114	$66.5M	$13.3k
9	+11		GEAR ETH	1.2k	$2.8M	$11.4k
10	-2		USDT WBTC WETH	5.1k	$18.7M	$11.0k

Lending Market Winners & Losers

This is a new section highlighting changes and the weekly winners and losers in the Llamalend peer-to-peer lending markets (not to be confused with crvUSD minting markets).

Winners and losers are based on the amount of debt (borrows) or lending (supplies) added or withdrawn over the week.

Borrowing Winners

Chain	Market	Supplied	Borrowed	Change
	crvUSD sfrxUSD	$19.9M	$15.4M	+$1.63M
	crvUSD sUSDe	$31.2M	$23.9M	+$1.31M
	crvUSD CRV	$4.61M	$3.33M	+$337k

Borrowing Losers

Chain	Market	Supplied	Borrowed	Change
	crvUSD sUSDS	$301k	$181k	-$288k
	crvUSD asdCRV	$247k	$32.9k	-$178k
	crvUSD WETH	$1.42M	$457k	-$93k

Supplying Winners

Chain	Market	Supplied	Borrowed	Change
	crvUSD sfrxUSD	$19.9M	$15.4M	+$1.47M
	crvUSD sUSDe	$31.2M	$23.9M	+$958k
	crvUSD WETH	$1.42M	$457k	+$204k

Supplying Losers

Chain	Market	Supplied	Borrowed	Change
	crvUSD WBTC	$6.64M	$5.51M	-$1.03M
	crvUSD sUSDS	$301k	$181k	-$533k
	crvUSD WETH	$3.8M	$2.6M	-$513k

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.