Curve Selected Yields & Key Metrics: Week 46, 2026
Selected yields and key metrics as of the 12th November, 2026.
Curve this week in 60 seconds
- PYUSD/crvUSD LP pays 46.7% APR, mostly crvUSD rewards on Merkl from YieldBasis: YB turns part of its pool fees into crvUSD and pays more of it here when its pools put pressure on the crvUSD peg.
- Other USD LP highlights: USDC/fxUSD 10.1% and apxUSD/USDC 9.4% APR.
- Savers: scrvUSD yield rose to 6.8% APY from 6.4%, and deposits grew to 17.6M crvUSD from 14.1M.
- Lending crvUSD in the reUSD/sfrxUSD LP market pays 22.4% APR, mostly in CRV.
- Votes are open on new Llamalend v2 markets for wOUSD and wstGBP.
Selected yields
Markets shown have at least $100,000 in pool liquidity or supplied assets. Pool and lending APRs model a new $100,000 deposit; pool APRs use seven-day LP growth and current unboosted rewards at unchanged income. Actual rates are variable; these are selected candidates, not a global top-yield or risk ranking. CRV rewards can be boosted via Convex, StakeDAO or Yearn. StableSwap pools with more than 85% of value or normalized reserves in one coin are omitted. FXSwap pools, such as zCHF/crvUSD, are assessed separately from this stablecoin-parity cutoff.
Selected USD yields
| Chain | Market | APR |
|---|---|---|
 |  PYUSD crvUSD | 46.7% |
|  USDC fxUSD | 10.1% |
|  apxUSDUSDC | 9.4% |
|  sUSG reUSD (Re Protocol) | 9.0% |
|  apyUSDapxUSD | 8.3% |
|  sUSDx (Axis) USDx (Axis) | 7.5% |
|  frxUSD USD3 (3Jane) | 7.5% |
|  scrvUSD sDOLA | 7.4% |
|  MUSD (Mezo)USDC USDT | 7.3% |
| reUSD (Re Protocol) sUSDe | 6.8% |
Llamalend v2 looping yields
| Chain | Collateral | 20x Looped APR | Liquidity |
|---|---|---|---|
| sDOLA | 43.4% | 2.40M |
|  sfrxUSD | 11.7% | 2.03M |
$10,000 looped 20x to $200,000 of collateral with $190,000 crvUSD borrowed. Looped APR = 20 × 7-day collateral APR − 19 × borrow APR after that borrow.
Selected Llamalend supply yields
| Chain | Lent asset | Collateral | APR |
|---|---|---|---|
| crvUSD |  reUSD (Resupply)sfrxUSD | 22.4% |
| crvUSD |  syrupUSDC | 6.0% |
| crvUSD |  WETH | 5.3% |
| crvUSD |  wstETH | 5.2% |
| crvUSD |  svZCHF | 5.1% |
| crvUSD | sfrxUSD | 4.2% |
| crvUSD | sUSDe | 3.9% |
| crvUSD | sDOLA | 3.8% |
Lending APR may include borrower interest and CRV rewards. Supplier exposure includes the borrower collateral shown, and withdrawal liquidity varies with utilization.
Selected BTC and ETH yields
| Chain | Market | Asset | APR |
|---|---|---|---|
|  ETH+WETH | ETH | 3.4% |
|  tETH weETH | ETH | 2.5% |
| WETHweETH | ETH | 2.4% |
|  osETH rETH | ETH | 2.0% |
|  stETH frxETH | ETH | 1.7% |
|  tBTC cbBTC | BTC | 3.8% |
|  WBTCcbBTC hemiBTC | BTC | 2.7% |
Other selected yields
| Chain | Market | Asset | APR |
|---|---|---|---|
| frxETH CVX | CRYPTO | 8.7% |
| WETHCVX | CRYPTO | 8.4% |
| crvUSDWETH CRV | TRICRYPTO | 4.8% |
| crvUSDtBTCwstETH | TRICRYPTO | 3.6% |
| USDCWBTCWETH | TRICRYPTO | 3.1% |
Protocol activity and stability
crvUSD & scrvUSD
| Metric | Value | Vs W45 |
|---|---|---|
| Mint-market debt | $50.3M | -12.1% |
 scrvUSD yield (APY) | 6.8% | +0.4 pp |
| scrvUSD assets / mint debt | 35.0% | +10.3 pp |
| crvUSD oracle price | $0.9976 | -$0.0022 |
| Average borrow APY | 7.0% | +1.6 pp |
| PegKeeper debt | 0.00M crvUSD | +0.00M crvUSD |
| Mint borrowing fees collected | $68.2k | +9.1% |
Llamalend
| Metric | Value | Vs W45 |
|---|---|---|
Llamalend TVL | $226M | -14.0% |
Supplied | $116M | -4.3% |
Borrowed | $119M | -10.4% |
Collateral | $177M | -17.8% |
Loans | 1,178 | -36 |
V2 accrued admin fees | $2.6k | +5.6% |
TVL counts lending and mint markets; supplied assets are lending-only.
DEX
| Metric | Value | Vs W45 |
|---|---|---|
Volume | $891.2M | -49.1% |
Swaps | 294k | -24.0% |
Trading fees | $180.6k | -63.7% |
Pools that earned the most trading fees this week:
| Chain | Pool | Volume | Fees |
|---|---|---|---|
| USDCfxUSD | $286.8M | $32.9k |
|  DAIUSDCUSDT | $109.9M | $16.5k |
| USDTWBTCWETH | $3.8M | $15.9k |
| apxUSDUSDC | $6.6M | $14.5k |
| USDTWBTCWETH | $31.5M | $12.8k |
| USDTcrvUSD | $62.5M | $6.3k |
| USDCWBTCWETH | $1.9M | $6.1k |
| apyUSDapxUSD | $2.9M | $5.8k |
| crvUSDtBTCwstETH | $7.1M | $5.3k |
| WETHCVX | $1.4M | $4.9k |
Trading fees are what traders paid to swap, shared between liquidity providers and the DAO. DEX figures cover ten chains and leave out YieldBasis pools, which have their own fee model.
DAO
| Metric | Value | Vs W45 |
|---|---|---|
 veCRV distribution | $134.9k | -49.8% |
| veCRV APR | 3.813% | -2.767 pp |
| Vote incentives (2-week avg) | $230.8k | -8.8% |
| veCRV APR with incentives | 12.281% | -2.355 pp |
| CRV emissions (weekly gauge allocation) | 1.86M CRV ($444.8k) | 0.00% |
| Annual CRV inflation | 3.992% | -0.003 pp |
Weekly CRV emissions are scheduled gauge allocations, not tokens already claimed. Their change is measured in CRV, not dollars. Vote incentives are paid on Votemarket and Votium and averaged over two weeks, as Votium pays once per two-week round. Their APR counts only veCRV that voted for gauges with incentives.
Governance and protocol updates
New Llamalend v2 markets up for vote
Votes are open on two new Llamalend v2 markets on Ethereum: borrowing crvUSD against wOUSD, Origin's wrapped dollar, with a 950k crvUSD cap, and against wstGBP, a staked British pound stablecoin, with an 80k cap. The wOUSD vote closes November 16. The wstGBP vote closes November 17.
Steadier price feeds for Optimism lending markets
A vote moves three Llamalend v2 markets on Optimism to a newer price oracle (WBTC/USDC, wstETH/USDC and wstETH/WETH), one that keeps working when Chainlink upgrades its feeds. Vote closes November 14.
Gauge vote open
A gauge for DOLA/SwanUSD on Ethereum, pairing Inverse's DOLA with Swan's dollar: vote closes November 16.
Explore Curve
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Risk information: pool risks, lending risks and crvUSD risks.