Curve Best Yields & Key Metrics | Week 47, 2025

Market Overview

There's no easy to way to say it, it was a very rough week for crypto markets. However, Curve has fared quite well, with TVL only down 6.9% to $2.362B.

The Curve ecosystem continues to move forward. Resupply's increased crvUSD credit line proposal was successful and it is now in use within the sreUSD lending market. Furthermore, a vote for a further increase to YieldBasis's crvUSD credit line is will begin soon.

As always, there are great yields available. Check out the highlighted yields 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.

Premier crvUSD Yields

The scrvUSD yield was higher than any of the PegKeeper pools this week, which is why it has been added to this list and highlighted below.

Chain	Market	TVL	Yield
	scrvUSD	$36.9M	10.4%
	USDT crvUSD	$27.6M	6.0%
	frxUSD crvUSD	$23.6M	5.9%
	USDC crvUSD	$28.2M	5.4%
	PYUSD crvUSD	$2.82M	3.2%

Other Top USD Yields

Chain	Market	Type	Yield
	scrvUSD USDC	Pool	43.9%
	ebUSD USDC	Pool	33.0%
	USDC USDT	Pool	25.7%
	USDp frxUSD	Pool	20.2%
	alUSD USDC	Pool	19.4%
	scUSD frxUSD	Pool	19.3%
	USDFI frxUSD	Pool	16.9%
	miMATIC USDC.e	Pool	15.8%
	USDT0 USDe	Pool	15.0%

Top BTC & ETH Yields

Chain	Market	Asset	Yield
	scETH frxETH	ETH	31.3%
	LBTC WBTC	BTC	13.4%
	CrossCurve WETH ARB	ETH	13.1%
	msETH WETH	ETH	8.3%
	uniBTC brBTC	BTC	2.6%
	tBTC cbBTC	BTC	1.7%

Other Top Yields

Chain	Market	Asset	Yield
	CrossCurve CRV/USD	CRV	36.8%
	CrossCurve CRV 2	CRV	15.2%
	crvUSD tBTC WETH	TRICRYPTO	9.7%
	GHO cbBTC WETH	TRICRYPTO	7.9%
	EURA EURT EURS	EUR	2.7%
	EURA EURC	EUR	2.0%
	XAUt PAXG	GOLD	0.3%

Weekly Metrics

crvUSD & scrvUSD

When ETH and BTC experience sharp declines, users typically close their loans, leading to a decrease in borrowing. This dynamic explains the decrease in crvUSD minted this week.

Metric	Value	Change
crvUSD Minted	$81.1M	-14.4%
scrvUSD Yield	10.4%	+2.1%
crvUSD inscrvUSD	45.5%	+8.2%
crvUSD Price	$0.9994	-$0.0005
Avg. Borrow Rate	11.9%	+9.3%
Peg Stability Reserves	$22.2k	-$28.9M
PegKeeper Profit	$2.29k	+$1.16k

Llamalend

Llamalend has seen a significant increase with the amount supplied, mostly due increases in the sDOLA and sreUSD markets.

DEX

DEX pool's were a mixed bag. TVL and volumes were down, but number of swaps and total fees paid by swappers increased.

DAO

veCRV holders still saw a substantial distribution this week of over $244k, even though it was down on last week's huge figure. The value of CRV emissions decreased due to CRV price declining.

Metric	Value	Change
CRV Circ. Supply	1.43B	+0.2%
CRV Locked	862M	-0.1%
Total veCRV	791M	-
veCRV Distribution	$244k	-23.1%
CRV Emissions	$966k (2.22M CRV)	-7.5%
Inflation Rate	4.974%	-0.005%

Top Stableswap Pools

In high volatility weeks the 3pool normally tops the list, and this week is no different. crvUSD pools were also in very high demand.

📍	🔄	Chain	Pool	Volume	Fees
1	+4		DAI USDC USDT	$254.9M	$38.2k
2	+5		USDT crvUSD	$199.9M	$20.0k
3	-		USDC RLUSD	$175.0M	$39.8k
4	+4		USDC crvUSD	$130.9M	$13.1k
5	+8		WETH weETH	$127.4M	$9.1k
6	-		ETH stETH	$127.2M	$12.7k
7	-6		sUSDS USDT	$125.5M	$2.3k
8	-6		PYUSD USDS	$121.7M	$1.3k
9	-		USDC fxUSD	$86.8M	$9.4k
10	-		ETH stETH	$85.3M	$6.8k

Top Cryptoswap Pools

Tricrypto pools made up the entire top 6 Cryptoswap pools by volume this week, underscoring the high demand for liquidity between ETH, BTC, and USD stablecoins.

📍	🔄	Chain	Pool	Volume	Fees
1	-		USDC WBTC WETH	$55.4M	$30.8k
2	-		USDT WBTC WETH	$34.0M	$20.0k
3	+1		USDT WBTC WETH	$29.5M	$55.0k
4	-1		crvUSD WETH CRV	$20.2M	$13.3k
5	+2		ETH+ eUSD RSR	$3.0M	$2.4k
6	+5		crvUSD tBTC wstETH	$2.7M	$7.9k

DEX Winners & Losers

Fees Winners & Losers

Tricrypto fees are inherently volatile, fluctuating with asset volatility. This week, high volatility brought high demand for liquidity, and this translated directly into strong fees for LPs in these pools.

📍	Chain	Pool	Volume	Fees	Change
1		USDT WBTC WETH	$29.5M	$55k	+$25.7k
2		USDC WBTC WETH	$55.4M	$30.8k	+$14.4k
3		DAI USDC USDT	$255M	$38.2k	+$12k
...	...	...	...	...	...
-3		USDC RLUSD	$175M	$39.8k	-$8.91k
-2		STG USDC	$862k	$2.8k	-$9.07k
-1		USDC USDf	$2.8M	$1.03k	-$13.3k

Volume Winners & Losers

The crvUSD/USDT pool was the largest winner for the week, doubling its volume as users demanded the deep BTC liquidity that YieldBasis pools provide.

📍	Chain	Pool	Volume	Fees	Change
1		USDT crvUSD	$200M	$20k	+$106M
2		WETH weETH	$127M	$9.08k	+$94.6M
3		DAI USDC USDT	$255M	$38.2k	+$79.9M
...	...	...	...	...	...
-3		PYUSD USDS	$122M	$1.31k	-$102M
-2		USDC USDT	$67M	$1.16k	-$145M
-1		sUSDS USDT	$125M	$2.29k	-$610M

TVL Winners & Losers

ETH stablecoin pools experienced a Total Value Locked (TVL) decline as ETH lost approximately 20% over the week. Following this, crvUSD pools saw outflows as PegKeepers withdrew their supplied liquidity. Despite these factors, some strong inflows were still recorded this week, led by the USDai pool on Arbitrum.

📍	Chain	Pool	TVL	Change
1		USDai USDC	$13.3M	+$11.9M
2		DOLA wstUSR	$46.4M	+$11.6M
3		USDC RLUSD	$65.4M	+$3.44M
...	...	...	...	...
-3		OETH WETH	$74.6M	-$14.8M
-2		ETH stETH	$138M	-$23.5M
-1		USDT crvUSD	$27.6M	-$27.9M

Llamalend Winners & Losers

crvUSD Minting Markets - Borrowing Winners & Losers

Both the tBTC and weETH markets recorded a net increase in borrowing this week. Given the tumultuous nature of the previous week, any increase across any market is a significant accomplishment.

📍	Chain	Market	Collateral	Borrowed	Change
1		crvUSD tBTC	$14.5M	$9.09M	+$677k
2		crvUSD weETH	$270k	$140k	+$2.44k
3		crvUSD sfrxETH	$471k	$150k	+$83.3
...	...	...	...	...	...
-3		crvUSD cbBTC	$2.29M	$1.52M	-$1.27M
-2		crvUSD WETH	$47.9M	$34.2M	-$4.57M
-1		crvUSD WBTC	$49.1M	$28.8M	-$7.63M

Lend Markets - Borrowing Winners & Losers

Borrowers have appeared to slurp up the new liquidity from the sreUSD market with their additional $8.35M of supplied crvUSD capital. Also, the sDOLA market also saw a noticeable increase in borrowing. Fortunately, no significant outflows were observed in any market.

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD sreUSD	$21.1M	$17.9M	+$6.58M
2		crvUSD sDOLA	$25M	$20.3M	+$2.73M
3		crvUSD USDe	$217k	$121k	+$100k
...	...	...	...	...	...
-3		crvUSD sUSDe	$5.79M	$4.41M	-$271k
-2		crvUSD WBTC	$1.21M	$664k	-$293k
-1		crvUSD WETH	$1.24M	$904k	-$400k

Lend Markets - Supplying Winners & Losers

Following the successful vote and execution of Resupply's extra 10M crvUSD credit line, the majority of this new capital has been deployed to the sreUSD market. The sDOLA market also saw significant organic growth. Importantly, there were no significant outflows from any market this week.

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD sreUSD	$21.1M	$17.9M	+$8.35M
2		crvUSD sDOLA	$25M	$20.3M	+$6.32M
3		crvUSD sfrxUSD	$13.6M	$11.3M	+$1.45M
...	...	...	...	...	...
-3		crvUSD wstETH	$1.04M	$833k	-$125k
-2		crvUSD WBTC	$1.21M	$664k	-$198k
-1		crvUSD WETH	$1.24M	$904k	-$337k

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.