Curve Best Yields & Key Metrics | Week 52, 2025

Market Overview

Merry Christmas to all who celebrate! This week marks the final yield cycle of 2025. While it’s been a dynamic year for Curve, we’re closing out December with relative stability as TVL only saw a minor 0.7% retracement this week, currently sitting at $2.53B.

As always there are many great opportunities available. See all the top yields and metrics for the week 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.

Large crvUSD Markets

Chain	Market	TVL	Yield
	crvUSD sDOLA	$30.3M	4.6%
	frxUSD crvUSD	$35.2M	4.2%
	crvUSD sreUSD	$21.4M	4.0%
	reUSD scrvUSD	$16.4M	3.9%

Other Top USD Yields

Chain	Market	Type	Yield
	alUSD USDC	Pool	19.8%
	USDp frxUSD	Pool	16.5%
	frxUSD msUSD	Pool	14.5%
	miMATIC USDC.e	Pool	13.3%
	USDT0 sUSDe	Pool	12.9%
	USDT USDN	Pool	12.9%
	crvUSD VUSD	Pool	11.3%
	USDS stUSDS	Pool	9.6%
	crvUSD sUSDS	Llamalend	9.1%

Top BTC & ETH Yields

The top two markets below are offering the best yields of the week, with Hemi's BTC pool offering 64.3% and CrossCurve's WETH ARB pool offering 23.6%.

Chain	Market	Asset	Yield
	WBTC cbBTC hemiBTC	BTC	64.3%
	CrossCurve WETH ARB	ETH	23.6%
	WBTC LBTC BTC.b	BTC	12.8%
	ynETH ynETHx	ETH	11.1%
	msETH OETH	ETH	7.7%
	uniBTC brBTC	BTC	5.2%

Other Top Yields

Chain	Market	Asset	Yield
	CrossCurve CRV/USD	CRV	25.1%
	CRV sdCRV	CRV	12.8%
	crvUSD CJPY	FOREX	9.0%
	EURA EURT EURS	EUR	7.8%
	GHO cbBTC WETH	TRICRYPTO	6.7%
	crvUSD ZCHF	FOREX	6.4%

Weekly Metrics

crvUSD & scrvUSD

crvUSD momentum continues this week with a 6% expansion in total minting, driven by a sustained low-interest-rate environment for borrowers. The protocol’s PegKeepers have also been very productive, capturing nearly $7k in arbitrage revenue for the DAO over the last seven days.

Metric	Value	Change
crvUSD Minted	$73.5M	+6.0%
scrvUSD Yield	0.7%	-1.0%
crvUSD inscrvUSD	34.9%	-3.6%
crvUSD Price	$0.9995	-$0.0003
Avg. Borrow Rate	0.9%	-1.3%
Peg Stability Reserves	$57M	+$25M
PegKeeper Profit	$6.92k	-$778

Llamalend

Llamalend metrics were nearly all positive this week. Borrowers are increasingly coming to the platform to capitalize on its competitive rates, high LTVs and liquidation protection features.

DEX

DEX pools saw reduced volumes and fees this week as volatility was slightly muted for all Crypto markets.

DAO

DAO metrics were mostly stable, except for a slightly lower CRV price leading to lower emissions in $USD terms, and a slightly lower veCRV distribution.

Metric	Value	Change
CRV Circ. Supply	1.44B	+0.2%
CRV Locked	860M	-
Total veCRV	791M	-0.2%
veCRV Distribution	$109k	-4.4%
CRV Emissions	$793k (2.22M CRV)	-5.8%
Inflation Rate	4.95%	-0.005%

Top Stableswap Pools

📍	🔄	Chain	Pool	Volume	Fees
1	+4		PYUSD USDS	$163.5M	$1.7k
2	+5		DAI USDC USDT	$110.2M	$16.5k
3	-2		sUSDS USDT	$104.4M	$2.0k
4	-		USDT crvUSD	$101.3M	$10.1k
5	+9		ETH stETH	$77.6M	$7.8k
6	+7		ETH stETH	$66.8M	$5.3k
7	-4		USDC RLUSD	$56.9M	$12.3k
8	-6		USDC USDT	$53.6M	$788.7
9	-3		USDC crvUSD	$52.4M	$5.2k
10	-2		WETH weETH	$29.3M	$1.7k

Top Cryptoswap Pools

📍	🔄	Chain	Pool	Volume	Fees
1	-		USDC WBTC WETH	$27.8M	$13.7k
2	-		USDT WBTC WETH	$25.3M	$12.2k
3	-		crvUSD WETH CRV	$12.8M	$7.4k
4	-		USDT WBTC WETH	$9.6M	$16.0k
5	+4		WETH CVX	$1.7M	$5.7k
6	-1		ETH+ eUSD RSR	$1.6M	$1.1k

DEX Winners & Losers

Fees Winners & Losers

📍	Chain	Pool	Volume	Fees	Change
1		ETH stETH	$77.6M	$7.76k	+$6.24k
2		ETH stETH	$66.8M	$5.34k	+$4.12k
3		DAI USDC USDT	$110M	$16.5k	+$4.01k
...	...	...	...	...	...
-3		USDC crvUSD	$52.4M	$5.24k	-$4.69k
-2		USDT WBTC WETH	$9.55M	$16k	-$4.94k
-1		USDC RLUSD	$56.9M	$12.3k	-$12.3k

Volume Winners & Losers

example

📍	Chain	Pool	Volume	Fees	Change
1		ETH stETH	$77.6M	$7.76k	+$62.4M
2		PYUSD USDS	$164M	$1.73k	+$59.8M
3		ETH stETH	$66.8M	$5.34k	+$51.4M
...	...	...	...	...	...
-3		USDC crvUSD	$52.4M	$5.24k	-$46.9M
-2		USDC RLUSD	$56.9M	$12.3k	-$61.9M
-1		USDC USDT	$53.6M	$789	-$77.4M

TVL Winners & Losers

📍	Chain	Pool	TVL	Change
1		USDT crvUSD	$90.1M	+$28.7M
2		ETH stETH	$131M	+$2.72M
3		USDS stUSDS	$35.5M	+$1.8M
...	...	...	...	...
-3		LBTC WBTC	$2.57M	-$5.6M
-2		frxUSD crvUSD	$35.2M	-$5.97M
-1		crvUSD cbBTC	$206M	-$16.3M

Llamalend Winners & Losers

crvUSD Minting Markets - Borrowing Winners & Losers

📍	Chain	Market	Collateral	Borrowed	Change
1		crvUSD WBTC	$62.5M	$34.5M	+$2.96M
2		crvUSD WETH	$33.8M	$19.1M	+$945k
3		crvUSD wstETH	$12M	$6.33M	+$231k
...	...	...	...	...	...
-3		crvUSD weETH	$240k	$138k	-$77.9
-2		crvUSD LBTC	$369k	$251k	-$1.06k
-1		crvUSD tBTC	$11.1M	$7.29M	-$56.3k

Lend Markets - Borrowing Winners & Losers

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD sDOLA	$30.3M	$23.9M	+$1.01M
2		crvUSD CRV	$4.19M	$3.29M	+$110k
3		crvUSD sUSDe	$3.35M	$2.92M	+$41.3k
...	...	...	...	...	...
-3		crvUSD wstETH	$697k	$519k	-$212k
-2		crvUSD sfrxUSD	$8.01M	$7M	-$779k
-1		crvUSD WBTC	$1.07M	$677k	-$1.97M

Lend Markets - Supplying Winners & Losers

📍	Chain	Market	Supplied	Borrowed	Change
1		crvUSD sDOLA	$30.3M	$23.9M	+$1.79M
2		crvUSD sreUSD	$21.4M	$17.2M	+$494k
3		crvUSD CRV	$4.19M	$3.29M	+$101k
...	...	...	...	...	...
-3		crvUSD wstETH	$697k	$519k	-$174k
-2		crvUSD sfrxUSD	$8.01M	$7M	-$595k
-1		crvUSD WBTC	$1.07M	$677k	-$2.1M

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.