Curve Best Yields & Key Metrics | Week 48, 2025

Market Overview

Markets have stabilized, and Curve has seen a positive week, here's the news:

• TVL has increased to $2.369B, up 0.5% week over week
• Curve is live on Monad, with some great yields available, some shown below
• 650k crvUSD has been minted to fund the FastBridge, which will help users bypass the 7 day delays on L2 native bridges
• Read the deep dive into Llamalend's Liquidation Protection and how it could help protect you and your loans

Read on for all the highlighted yields and weekly metrics.

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

Chain	Market	TVL	Yield
	scrvUSD	$41.6M	7.5%
	frxUSD crvUSD	$24.1M	7.5%
	USDC crvUSD	$34.4M	6.7%
	USDT crvUSD	$70.3M	6.6%

Other Top USD Yields

Chain	Market	Type	Yield
	AZND AUSD	Pool	55.3%
	scrvUSD USDC	Pool	37.6%
	AUSD USDC USDT0	Pool	28.3%
	USDC USDT	Pool	25.4%
	USDFI frxUSD	Pool	21.0%
	USDp frxUSD	Pool	19.5%
	alUSD USDC	Pool	18.1%
	crvUSD WETH	Llamalend	16.3%
	ynUSDx USDC	Pool	14.9%
	axlUSDT USDt	Pool	14.9%

Top BTC & ETH Yields

Chain	Market	Asset	Yield
	scETH frxETH	ETH	18.6%
	CrossCurve WETH ARB	ETH	13.1%
	LBTC WBTC	BTC	12.0%
	ETH+ WETH	ETH	10.2%
	uniBTC brBTC	BTC	3.0%
	WBTC DBIT	BTC	1.6%

Other Top Yields

Chain	Market	Asset	Yield
	CrossCurve CRV/USD	CRV	36.4%
	CRV sdCRV	CRV	16.1%
	crvUSD tBTC WETH	TRICRYPTO	8.6%
	GHO cbBTC WETH	TRICRYPTO	6.3%
	EURA EURT EURS	EUR	2.8%
	EURA EURC	EUR	2.5%
	XAUt PAXG	GOLD	0.2%

Weekly Metrics

crvUSD & scrvUSD

Unfortunately some large loans were closed this week, which has meant the crvUSD supply has contracted. However, this creates a great opportunity for new borrowers with the low rates available.

Metric	Value	Change
crvUSD Minted	$54.8M	-32.5%
scrvUSD Yield	7.5%	-2.8%
crvUSD inscrvUSD	75.9%	+30.3%
crvUSD Price	$0.9998	-
Avg. Borrow Rate	0.4%	-11.5%
Peg Stability Reserves	$46.2M	+$46.2M
PegKeeper Profit	$457	-$1.83k

Llamalend

Llamalend metrics have decreased, mostly due to the decrease in crvUSD supply.

DEX

DEX pools have seen a mostly positive week, with TVL and volume both increasing.

DAO

The DAO has seen another great week in terms of veCRV APR and distributions, with the fee APR alone closing in on the inflation rate. If voting incentives are included, CRV APR is around 13.5%.

Metric	Value	Change
CRV Circ. Supply	1.43B	+0.2%
CRV Locked	862M	-
Total veCRV	796M	+0.6%
veCRV Distribution	$261k (4.3% APR)	+7.1%
CRV Emissions	$888k (2.22M CRV)	-8.1%
Inflation Rate	4.969%	-0.005%

Top Stableswap Pools

USDS pools once again moved to the top of the list this week, after a brief hiatus last week.

📍	🔄	Chain	Pool	Volume	Fees
1	+6		sUSDS USDT	$660.2M	$12.0k
2	+6		PYUSD USDS	$335.0M	$3.8k
3	-1		USDT crvUSD	$167.1M	$16.7k
4	-3		DAI USDC USDT	$148.8M	$22.3k
5	-2		USDC RLUSD	$141.6M	$29.9k
6	-		ETH stETH	$128.6M	$12.9k
7	+12		cUSDO USDC	$112.3M	$31.7k
8	+3		USDC USDT	$103.8M	$1.3k
9	-5		USDC crvUSD	$101.5M	$10.1k
10	+10		USDai USDC	$76.7M	$7.9k

Top Cryptoswap Pools

The YB pool entered the top 6 pools for Cryptoswap this week in terms of volume, and Tricrypto pools dominated otherwise.

📍	🔄	Chain	Pool	Volume	Fees
1	-		USDC WBTC WETH	$60.9M	$33.5k
2	+1		USDT WBTC WETH	$34.6M	$55.6k
3	-1		USDT WBTC WETH	$30.7M	$17.6k
4	-		crvUSD WETH CRV	$18.1M	$13.0k
5	+1		crvUSD tBTC wstETH	$3.2M	$7.8k
6	+2		crvUSD YB	$2.5M	$8.4k

DEX Winners & Losers

Fees Winners & Losers

cUSDO saw an absolutely huge 689% increase in fees this week, topping the winners. The 3pool was the biggest loser this week, which is not surprising given its liquidity is most in demand during high volatility weeks.

📍	Chain	Pool	Volume	Fees	Change
1		cUSDO USDC	$112M	$31.7k	+$27.1k
2		sUSDS USDT	$660M	$12k	+$9.73k
3		USDai USDC	$76.7M	$7.86k	+$5.62k
...	...	...	...	...	...
-3		WETH weETH	$33.8M	$3.21k	-$5.87k
-2		USDC RLUSD	$142M	$29.9k	-$9.96k
-1		DAI USDC USDT	$149M	$22.3k	-$15.9k

Volume Winners & Losers

After a week of low volume last week, the USDS pools won the week with massive increases in volume.

📍	Chain	Pool	Volume	Fees	Change
1		sUSDS USDT	$660M	$12k	+$535M
2		PYUSD USDS	$335M	$3.76k	+$213M
3		cUSDO USDC	$112M	$31.7k	+$94.4M
...	...	...	...	...	...
-3		USDC fxUSD	$36.2M	$3.75k	-$50.6M
-2		WETH weETH	$33.8M	$3.21k	-$93.5M
-1		DAI USDC USDT	$149M	$22.3k	-$106M

TVL Winners & Losers

Due to some big crvUSD loans being closed this week, the PegKeepers have deployed significant reserves, increasing the TVL of their respective pools.

📍	Chain	Pool	TVL	Change
1		USDT crvUSD	$70.3M	+$42.7M
2		USDC RLUSD	$76.4M	+$10.9M
3		USDC crvUSD	$34.4M	+$6.18M
...	...	...	...	...
-3		ETH stETH	$134M	-$3.11M
-2		USDC DUSD	$21.7M	-$3.64M
-1		sUSDai USDC	$5.92M	-$3.77M

Llamalend Winners & Losers

crvUSD Minting Markets - Borrowing Winners & Losers

A few big loans were unfortunately closed this week, but this has created a great opportunity for new borrowers with borrowing rates less than 1% at the time of writing.

📍	Chain	Market	Collateral	Borrowed	Change
1		crvUSD LBTC	$367k	$241k	-
2		crvUSD sfrxETH	$473k	$150k	+$286
3		crvUSD weETH	$242k	$136k	-$3.84k
...	...	...	...	...	...
-3		crvUSD WBTC	$50.5M	$28.3M	-$488k
-2		crvUSD tBTC	$12.6M	$8.23M	-$862k
-1		crvUSD WETH	$23M	$9.81M	-$24.4M

Lend Markets - Borrowing Winners & Losers

Compared to the minting markets, the lending markets have held up better, which is a positive sign.

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD sDOLA	$24.6M	$20.4M	+$82.1k
2		crvUSD CRV	$3.89M	$3.26M	+$72.6k
3		crvUSD asdCRV	$117k	$63.4k	+$32.9k
...	...	...	...	...	...
-3		crvUSD WETH	$998k	$676k	-$228k
-2		crvUSD sreUSD	$20.5M	$17.1M	-$798k
-1		crvUSD WBTC	$3.19M	$2.69M	-$1.29M

Lend Markets - Supplying Winners & Losers

There were some outflows as borrowing reduced and loans were closed.

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD asdCRV	$117k	$63.4k	+$57.5k
2		crvUSD IBTC	$65.7k	$61.4k	+$4.87k
3		crvUSD sfrxETH	$898k	$618k	+$2.8k
...	...	...	...	...	...
-3		crvUSD sreUSD	$20.5M	$17.1M	-$634k
-2		crvUSD sfrxUSD	$12.6M	$11.3M	-$1M
-1		crvUSD WBTC	$3.19M	$2.69M	-$1.51M

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.