# Curve News | Stablecoins, DeFi & DAO Updates > Official news from the Curve ecosystem covering protocol updates, governance, crvUSD, integrations, product releases, research, and the future of decentralized finance. Public Ghost content for AI and LLM tooling. This file includes a bounded export of public pages first, then recent public posts. Append `.md` to any post or page URL to get the content in Markdown (for example, `/example-post.md`). ## Pages ### Coinmarketcap Verification URL: https://news.curve.finance/coinmarketcap-verification/ Last updated: 2025-11-26T12:23:50.000Z CoinmarketCap, We would like to register one @curve.fi email to manage Curve DAO self-reporting dashboard on CoinMarketCap. ### Community Council URL: https://news.curve.finance/community-council/ Last updated: 2025-11-26T12:23:53.000Z This council is focused on bringing a diverse look with community members of different backgrounds. Each member has been involved in various ways with Curve and its community. ## Julien T. I’m Julien from Fabric Ventures - a European fund focused on backing entrepreneurs building the Open Web of tomorrow. I have been passionate about the potential of this movement for nearly 4 years now, and I am particularly interested in token economics due to the potential for well designed incentives. I think Curve is already an essential component of DeFi that has been innovating incredibly fast, especially around governance, staking and rewarding early community members with their token distribution. They are now launching ecosystem grants which I think will help the protocol grow even faster, and I am enthusiastic to be able to contribute in making this initiative a success. You can find me on Twitter of course: --- ## Amadeo Brands I, Amadeo Brands, would like to volunteer for a role in the Curve CRV council. Will input technical and economical knowledge into the counsel and will assist with general tasks. I can also help with code reviews and as a fundamental analyst and partner at DeFi Capital will be on top of market developments and can act in emergency situations. As the Curve Protocol matures a brother decentralization is needed adding more members to the Curve CRV council would strengthen decentralization and will harden the protocol. See here some links to follow some of my activities besides the Curve CRV Council role I’m also involved in the Maker MKR ecosystem as an ambassador where I would like to play a bridging role between the MKR and CRV communities. --- ## Sebastian I am Sebastian and I do not work in the crypto industry. However, I am the chief requirement engineer for battery electric vehicles at a big OEM, a university lecturer for engineering and design and I am a fascinated user and early pioneer in using DeFi, dApps and decentralized systems. I hope to give with my background a different view on how to grow Curve and its adjutant DeFi ecosystem, so that my children will be able to interact naturally with DeFi apps without knowing that ever something else existed. You can find me on twitter at --- ## Quentin M. I am Quentin, I am a commodity trader for the past 5 years at EDF Trading, Cargill, Orsted and Glencore, which I am now about to quit to be more involved into the fascinating space that is DeFi which I discovered 2 years ago. --- ## Alex I’m Alex, - I’ve been a keen follower of this space for a couple of years and now work full time as a content manager and creator for a few different publications in the industry. I’m passionate about helping to support builders and contributors, especially those who are new or that have not been able to get help elsewhere. The Curve ecosystem grant program fits perfectly with this interest, and I’m happy to be of help wherever I can. I’m always interested in talking to new people, you can find me on Twitter: --- ## Ne1k0 I have been in the distributed systems industry building enterprise scale databases and data redundancy protocols for twenty years. Traditionally a systems level engineer working on everything from device controllers to RAFT implementations, I have recently taken the side-ways step to working on distributed ledger technology. You will likely find me contributing to the components that make up the infrastructure of this space in the future rather than Dapps directly, but I'm excited to be able to contribute to this project in such a meaningful way. I am mostly drawn in by the utility that the DeFi space has found with creative projects like the Curve protocol and its interesting economic system. I hope to bring and contribute all of my experience and knowledge to this council such that it accelerates both adoption of the Curve protocol and improves community awareness. --- ## jiecut Soon! --- ## C2tP I'm C2tP. My educational background is in Computer Science and professionally I've been a programmer in the gaming industry for over 10 years. I have been a part of the Curve community since the first days of the y pool launch. I'm looking forward to contributing what I can to better the Curve platform. I believe it will continue to be a top DeFi platform in the years to come. --- ## WormholeOracle I am fascinated with one particular challenge in the smart contract stack: the oracle problem. Hence my name, which refers to connecting the isolated universe of the blockchain with the wealth of real world data that DeFi requires to function properly. DeFi has only become possible as of late because we have recently gained access to assets and applications that are externally aware. Even though Curve might not seem to confront this problem directly, I believe middleware plays a central role in Curve’s expansion that will unlock an enormous amount of value. My attention is entirely on improving Curve’s ability to generate real value that is meaningful to people. I see that Curve is built on solid fundamentals and is poised for success, and I intend to participate in making good on that vision. I’m active on the Curve TG channel and discord, as well as on Twitter. If you’ve seen my proposals on the governance forum, you know I have a lot of opinions. But what excites me most is to see everyone’s interesting ideas bounce around and coalesce around the best ways to improve our platform. So if you’ve got some kooky idea, I want to hear it, support it, and help give it a fair shot. Please do reach out! --- ## Andre Cronje [https://twitter.com/AndreCronjeTech](https://twitter.com/AndreCronjeTech?) ## Posts ### Curve Selected Yields & Key Metrics: Week 43, 2026 URL: https://news.curve.finance/curve-best-yields-week-43-2026/ Last updated: 2026-10-23T15:21:00.000Z ## Curve this week in 60 seconds - USD LP highlights: [sUSG/reUSD (Re Protocol)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit) **13.4%** and [frxUSD/sUSDai](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1015/deposit) **10.0%** APR. - 20x Looped APR on Llamalend v2: [syrupUSDC](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675) **37.1%** or [sDOLA](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) **35.0%**. - ETH LP highlight: [ETH+/WETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-482/deposit) **3.0%** APR. - Tripool: [crvUSD/WETH/CRV](https://curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit) **5.7%** APR, combining dollar, ETH and CRV exposure. - More sDOLA borrowing: the [sDOLA](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit) Llamalend v2 borrow cap is now **25M crvUSD**, up from 12.4M. ## Selected yields Markets shown have at least $100,000 in pool liquidity or supplied assets. Pool APRs model a new $100,000 deposit using 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](https://convexfinance.com/), [StakeDAO](https://www.stakedao.org/) or [Yearn](https://yearn.fi/). 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 | | ------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![sUSG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf17d6f98a5c6eaa99d149079984119e0a4ef6900.png)sUSG![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5086bf358635b81d8c47c66d1c8b9e567db70c72.png)reUSD (Re Protocol)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit "sUSG/reUSD \| 0xC6ac08424eE6D1373F03611b96f5Da849594B6D8") | 13.4% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![sUSDai](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1015/deposit "frxUSD/sUSDai \| 0x1Fce0B50C48A7Bf67022a82deC9C26e02683bF52") | 10.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://curve.finance/dex/ethereum/pools/factory-stable-ng-704/deposit "USG/USDC \| 0x97BA10115da528c113462EDE9C20D7adc806D93f") | 8.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply)![sfrxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-393/deposit "reUSD/sfrxUSD \| 0xed785Af60bEd688baa8990cD5c4166221599A441") | 8.6% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![USD3](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x056b269eb1f75477a8666ae8c7fe01b64dd55ecc.png)USD3 (3Jane)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-906/deposit "USD3/frxUSD \| 0x7BA89Bc658c07569cfa6d7947adAA80181a24568") | 8.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USD3](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0d86883faf4ffd7aeb116390af37746f45b6f378.png)USD3 (Reserve)![scrvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-307/deposit "USD3/scrvUSD \| 0xE99810Cd5AdCD7b13455aE1BE678B382d61f2d1E") | 8.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://curve.finance/dex/ethereum/pools/factory-stable-ng-705/deposit "USG/frxUSD \| 0xEfc056790bb19702b2164ec6Ea6bA3AE01d81195") | 8.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![sUSDx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeb892628d1e58bc475a6dcb7f5dbc4f591632aa4.png)sUSDx (Axis)![USDx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa1fa7777974312f7d801a8880714a218f76233f8.png)USDx (Axis)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1052/deposit "sUSDx/USDx \| 0x1C9A0b9bFF066756c4586CB6711483Cfa9f281eE") | 7.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply)![scrvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-392/deposit "reUSD/scrvUSD \| 0xc522A6606BBA746d7960404F22a3DB936B6F4F50") | 7.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5086bf358635b81d8c47c66d1c8b9e567db70c72.png)reUSD (Re Protocol)![sUSDe](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/ethereum/pools/factory-stable-ng-534/deposit "reUSD/sUSDe \| 0x5C2ab69Eb2BF12A2f4572D178687Bd4660512972") | 7.6% | ### Llamalend v2 looping yields | Chain | Collateral | 20x Looped APR | Liquidity | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![syrupUSDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675 "Llamalend v2: borrow crvUSD against syrupUSDC") | 37.1% | 2.06M | | ------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------- | --------- | --------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0 "Llamalend v2: borrow crvUSD against sDOLA") | 35.0% | 3.64M | | | | | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![sfrxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe "Llamalend v2: borrow crvUSD against sfrxUSD") | 26.5% | 4.03M | | | | | ****Example:** $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 | | ------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05/vault/deposit "Llamalend v1: lend crvUSD against fxSAVE") | [![fxSAVE](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05/vault/deposit "Llamalend v1: lend crvUSD against fxSAVE") | 5.9% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit "Llamalend v1: lend crvUSD against sUSDe") | [![sUSDe](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit "Llamalend v1: lend crvUSD against sUSDe") | 4.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617/vault/deposit "Llamalend v1: lend crvUSD against WBTC") | [![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617/vault/deposit "Llamalend v1: lend crvUSD against WBTC") | 4.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit "Llamalend v2: lend crvUSD against sfrxUSD") | [![sfrxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit "Llamalend v2: lend crvUSD against sfrxUSD") | 4.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit "Llamalend v2: lend crvUSD against syrupUSDC") | [![syrupUSDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit "Llamalend v2: lend crvUSD against syrupUSDC") | 4.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit "Llamalend v2: lend crvUSD against sDOLA") | [![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit "Llamalend v2: lend crvUSD against sDOLA") | 4.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x23F5a668A9590130940eF55964ead9787976f2CC/vault/deposit "Llamalend v1: lend crvUSD against WETH") | [![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/ethereum/markets/0x23F5a668A9590130940eF55964ead9787976f2CC/vault/deposit "Llamalend v1: lend crvUSD against WETH") | 3.6% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit "Llamalend v1: lend crvUSD against wstETH") | [![wstETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit "Llamalend v1: lend crvUSD against wstETH") | 3.6% | 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 | | ------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![hemiBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit "HemiBTC/cbBTC/WBTC \| 0x66039342C66760874047c36943B1e2d8300363BB") | BTC | 3.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![ETH+](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-482/deposit "ETH+/ETH \| 0x2c683fAd51da2cd17793219CC86439C1875c353e") | ETH | 3.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![pufETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH![wstETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-113/deposit "pufETH/wstETH \| 0xEEda34A377dD0ca676b9511EE1324974fA8d980D") | ETH | 2.4% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![tETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd11c452fc99cf405034ee446803b6f6c1f6d5ed8.png)tETH![weETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-302/deposit "tETH/weETH \| 0x394a1e1b934cb4F4a0dC17BDD592ec078741542F") | ETH | 2.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![weETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-157/deposit "weETH/WETH-ng \| 0xDB74dfDD3BB46bE8Ce6C33dC9D82777BCFc3dEd5") | ETH | 2.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![osETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf1c9acdc66974dfb6decb12aa385b9cd01190e38.png)osETH![rETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae78736cd615f374d3085123a210448e74fc6393.png)rETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-15/deposit "osETH/rETH \| 0xe080027Bd47353b5D1639772b4a75E9Ed3658A0d") | ETH | 2.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![alETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![frxETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/ethereum/pools/factory-v2-253/deposit "Curve.fi Factory Plain Pool: alETHfrxETH \| 0xB657B895B265C38c53FFF00166cF7F6A3C70587d") | ETH | 2.0% | ### Other selected yields | Chain | Market | Asset | APR | | ------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![CRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit "TriCRV \| 0x4eBdF703948ddCEA3B11f675B4D1Fba9d2414A14") | TRICRYPTO | 5.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![ZCHF](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit "ZCHF/CRVUSD \| 0x027B40F5917FCd0eac57d7015e120096A5F92ca9") | FXSwap | 4.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![GHO](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit "TricryptoGHO \| 0x8a4f252812dFF2A8636E4F7EB249d8FC2E3bd77f") | TRICRYPTO | 4.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![tBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![wstETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-2/deposit "TricryptoLLAMA \| 0x2889302a794dA87fBF1D6Db415C1492194663D13") | TRICRYPTO | 3.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit "TricryptoUSDC \| 0x7F86Bf177Dd4F3494b841a37e810A34dD56c829B") | TRICRYPTO | 3.0% | ## Protocol activity and stability ### crvUSD & scrvUSD | Metric | Value | Vs W42 | | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------- | ------------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Mint-market debt | $68.2M | +1.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD yield (APY) | 3.3% | +1.0 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD assets / mint debt | 21.2% | \-3.5 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD oracle price | $0.9998 | +$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Average borrow APY | 3.3% | \-0.3 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper debt | 33.75M crvUSD | 0.00M crvUSD | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Mint borrowing fees collected | $43.6k | \-8.2% | ### Llamalend | Metric | Value | Vs W42 | | ----------------------- | ----- | ------ | | 🦙Llamalend TVL | $257M | +3.5% | | 🦙Supplied | $100M | +1.1% | | 🦙Borrowed | $145M | +1.8% | | 🦙Collateral | $232M | +4.1% | | 🦙Loans | 1,227 | +7 | | 🦙V2 accrued admin fees | $1.9k | \-8.3% | TVL counts lending and mint markets; supplied assets are lending-only. ### DAO | Metric | Value | Vs W42 | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------- | ---------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV distribution | $152.4k | +48.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 2.762% | +0.759 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV emissions (weekly gauge allocation) | 1.86M CRV ($690.7k) | 0.00% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Annual CRV inflation | 4.002% | \-0.003 pp | Weekly CRV emissions are scheduled gauge allocations, not tokens already claimed. Their change is measured in CRV, not dollars. ## Governance and protocol updates ### sDOLA borrow cap raised to 25M crvUSD [Vote 1505](https://www.curve.finance/dao/ethereum/proposals/ownership/1505/) has been executed, raising the [sDOLA Llamalend v2 market](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) borrow cap from 12.4M to 25M crvUSD. About 9.4M crvUSD is borrowed there now. ### Proposal: 60M crvUSD for the sreUSD market [Vote 1509](https://www.curve.finance/dao/ethereum/proposals/ownership/1509/) proposes raising the crvUSD lending limit for the [sreUSD Llamalend market](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9) from 30M to 60M. Vote closes October 29. ### Avant pools added to the gauge list [Vote 1500](https://www.curve.finance/dao/ethereum/proposals/ownership/1500/) and [vote 1503](https://www.curve.finance/dao/ethereum/proposals/ownership/1503/) have both been executed, adding gauges to the [alUSD/avUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1067/deposit) and [avUSD/savUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1072/deposit) pools. ### Emergency DAO update proposed [Vote 1510](https://www.curve.finance/dao/ethereum/proposals/ownership/1510/) would move the emergency DAO to new proxy contracts on Ethereum, Arbitrum, Optimism, Sonic and Taiko, following [yRisk's recommendation](https://gov.curve.finance/t/emergency-dao-proxy-upgrade/11193), and extend its coverage to Llamalend v2\. The Curve DAO keeps full control through each proxy. Vote closes October 29. ## Explore Curve Explore [Curve pools](https://curve.finance/dex), [Llamalend markets](https://curve.finance/lend) or [savings crvUSD](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance). Choose the product that fits the asset and liquidity you need. **Risk information:** [pool risks](https://docs.curve.finance/user/security/risks/pools?ref=news.curve.finance), [lending risks](https://docs.curve.finance/user/security/risks/lending?ref=news.curve.finance) and [crvUSD risks](https://docs.curve.finance/user/security/risks/crvusd?ref=news.curve.finance). ### Curve Selected Yields & Key Metrics: Week 42, 2026 URL: https://news.curve.finance/curve-best-yields-week-42-2026/ Last updated: 2026-10-15T17:21:16.000Z ## Curve this week in 60 seconds - USD LP highlights: [USDC/USG](https://curve.finance/dex/ethereum/pools/factory-stable-ng-704/deposit) **9.1%** and [frxUSD/USG](https://curve.finance/dex/ethereum/pools/factory-stable-ng-705/deposit) **8.8%** modeled APR. - Lending: supply crvUSD against [syrupUSDC](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit) **4.2%** APR, or [sfrxUSD](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit) **4.2%** in the v2 market. - ETH LP highlight: [ETH+/WETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-482/deposit) **3.9%** modeled APR. - Tripool: [crvUSD/WETH/CRV](https://curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit) **5.6%** modeled APR, combining dollar, ETH and CRV exposure. - LP-backed borrowing: [reUSD (Resupply)/sfrxUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-393/deposit) LP collateral is now live in Llamalend, with a **3M crvUSD** borrowing cap. Resupply support would add a separate looping route for lenders. ## Selected yields Markets shown have at least $100,000 in pool liquidity or supplied assets. Pool APRs model a new $100,000 deposit using 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](https://convexfinance.com/), [StakeDAO](https://www.stakedao.org/) or [Yearn](https://yearn.fi/). 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 | | ------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://curve.finance/dex/ethereum/pools/factory-stable-ng-704/deposit "USG/USDC \| 0x97BA10115da528c113462EDE9C20D7adc806D93f") | 9.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://curve.finance/dex/ethereum/pools/factory-stable-ng-705/deposit "USG/frxUSD \| 0xEfc056790bb19702b2164ec6Ea6bA3AE01d81195") | 8.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply)![sfrxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-393/deposit "reUSD/sfrxUSD \| 0xed785Af60bEd688baa8990cD5c4166221599A441") | 8.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![sUSDai](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1015/deposit "frxUSD/sUSDai \| 0x1Fce0B50C48A7Bf67022a82deC9C26e02683bF52") | 8.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![sUSDx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeb892628d1e58bc475a6dcb7f5dbc4f591632aa4.png)sUSDx (Axis)![USDx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa1fa7777974312f7d801a8880714a218f76233f8.png)USDx (Axis)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1052/deposit "sUSDx/USDx \| 0x1C9A0b9bFF066756c4586CB6711483Cfa9f281eE") | 7.9% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply)![scrvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-392/deposit "reUSD/scrvUSD \| 0xc522A6606BBA746d7960404F22a3DB936B6F4F50") | 7.6% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply)![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/ethereum/pools/factory-stable-ng-413/deposit "reUSD/sDola \| 0x48d670D189B4b48757992D36897bCa6E3f889040") | 7.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/ethereum/pools/factory-stable-ng-895/deposit "USG/sDOLA \| 0x317837AED98bea887074d1f97Fd3C83eBCA6905b") | 6.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply)![fxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-414/deposit "reUSD/fxUSD \| 0xb0ef04ACE97d350E24Efa5139d2590D26a61A8Dc") | 6.6% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![trUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd0580192e98ea6ceb9c7b6191ed2e27560911697.png)trUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1005/deposit "frxUSD/trUSD \| 0xd1D954BC94c843815EC7b8119f2de00AF27Fa6Ff") | 5.7% | ### Selected Llamalend supply yields | Chain | Lent asset | Collateral | APR | | ------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit "Llamalend v2: lend crvUSD against syrupUSDC") | [![syrupUSDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit "Llamalend v2: lend crvUSD against syrupUSDC") | 4.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit "Llamalend v2: lend crvUSD against sfrxUSD") | [![sfrxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit "Llamalend v2: lend crvUSD against sfrxUSD") | 4.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05/vault/deposit "Llamalend v1: lend crvUSD against fxSAVE") | [![fxSAVE](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05/vault/deposit "Llamalend v1: lend crvUSD against fxSAVE") | 4.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit "Llamalend v1: lend crvUSD against sUSDe") | [![sUSDe](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit "Llamalend v1: lend crvUSD against sUSDe") | 4.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit "Llamalend v2: lend crvUSD against sDOLA") | [![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit "Llamalend v2: lend crvUSD against sDOLA") | 3.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit "Llamalend v1: lend crvUSD against wstETH") | [![wstETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit "Llamalend v1: lend crvUSD against wstETH") | 3.6% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit "Llamalend v2: lend crvUSD against svZCHF") | [![svZCHF](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe5f130253ff137f9917c0107659a4c5262abf6b0.png)svZCHF](https://curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit "Llamalend v2: lend crvUSD against svZCHF") | 3.4% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9/vault/deposit "Llamalend v1: lend crvUSD against sreUSD") | [![sreUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD (Resupply)](https://curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9/vault/deposit "Llamalend v1: lend crvUSD against sreUSD") | 2.6% | 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 | | ------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![ETH+](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-482/deposit "ETH+/ETH \| 0x2c683fAd51da2cd17793219CC86439C1875c353e") | ETH | 3.9% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![hemiBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit "HemiBTC/cbBTC/WBTC \| 0x66039342C66760874047c36943B1e2d8300363BB") | BTC | 3.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![tETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd11c452fc99cf405034ee446803b6f6c1f6d5ed8.png)tETH![weETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-302/deposit "tETH/weETH \| 0x394a1e1b934cb4F4a0dC17BDD592ec078741542F") | ETH | 2.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![weETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-157/deposit "weETH/WETH-ng \| 0xDB74dfDD3BB46bE8Ce6C33dC9D82777BCFc3dEd5") | ETH | 2.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![stETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH![frxETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/ethereum/pools/factory-v2-274/deposit "Curve.fi Factory Plain Pool: stETH/frxETH \| 0x4d9f9D15101EEC665F77210cB999639f760F831E") | ETH | 1.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/ethereum/pools/0x839d6bDeDFF886404A6d7a788ef241e4e28F4802/deposit "cbBTC/wBTC \| 0x839d6bDeDFF886404A6d7a788ef241e4e28F4802") | BTC | 1.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![ETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.png)ETH![stETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/ethereum/pools/0x21E27a5E5513D6e65C4f830167390997aA84843a/deposit "Curve.fi Factory Pool: stETH-ng \| 0x21E27a5E5513D6e65C4f830167390997aA84843a") | ETH | 1.5% | ### Other selected yields | Chain | Market | Asset | APR | | ------------------------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![CRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit "TriCRV \| 0x4eBdF703948ddCEA3B11f675B4D1Fba9d2414A14") | TRICRYPTO | 5.6% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![GHO](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit "TricryptoGHO \| 0x8a4f252812dFF2A8636E4F7EB249d8FC2E3bd77f") | TRICRYPTO | 4.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![ZCHF](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit "ZCHF/CRVUSD \| 0x027B40F5917FCd0eac57d7015e120096A5F92ca9") | FXSwap | 4.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit "TricryptoUSDC \| 0x7F86Bf177Dd4F3494b841a37e810A34dD56c829B") | TRICRYPTO | 2.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USDT](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-1/deposit "TricryptoUSDT \| 0xf5f5B97624542D72A9E06f04804Bf81baA15e2B4") | TRICRYPTO | 2.0% | For [ZCHF/crvUSD](https://curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit), a $100k ZCHF-to-crvUSD quote returned about 4.5% less per token than a small trade. This FX pool has asymmetric inventory; check the current quote for the size you plan to trade. ## Protocol activity and stability ### crvUSD & scrvUSD | Metric | Value | Vs W41 | | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------- | -------------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Mint-market debt | $67.0M | \-10.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD yield (APY) | 2.3% | \-0.6 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD assets / mint debt | 24.6% | +3.4 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD oracle price | $0.9997 | \-$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Average borrow APY | 3.6% | \-0.1 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper debt | 33.75M crvUSD | +13.17M crvUSD | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Mint borrowing fees collected | $47.5k | \-5.4% | Debt reduction included a [wstETH borrower closing a position](https://etherscan.io/tx/0xd1a8a9062fcfcc90363c10de049abb642507ab3640ec740e374914d12571e340) by repaying about 1.25M crvUSD and withdrawing 1,350 wstETH. ### Llamalend | Metric | Value | Vs W41 | | ----------------------- | ----- | ------ | | 🦙Llamalend TVL | $249M | \-7.7% | | 🦙Supplied | $99M | +2.2% | | 🦙Borrowed | $142M | \-5.9% | | 🦙Collateral | $223M | \-9.7% | | 🦙Loans | 1,220 | +12 | | 🦙V2 accrued admin fees | $2.1k | +3.3% | TVL counts lending and mint markets; supplied assets are lending-only. ### DAO | Metric | Value | Vs W41 | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------- | ---------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV distribution | $102.5k | \-7.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 2.003% | +0.088 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV emissions (weekly gauge allocation) | 1.86M CRV ($643.5k) | 0.00% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Annual CRV inflation | 4.005% | \-0.003 pp | Weekly CRV emissions are scheduled gauge allocations, not tokens already claimed. Their change is measured in CRV, not dollars. ## Governance and protocol updates ### First LP-token Llamalend market is live [Vote 1501](https://www.curve.finance/dao/ethereum/proposals/ownership/1501/) has been executed, activating the [first LP-token Llamalend v2 market](https://www.curve.finance/lend/ethereum/markets/0x4922995d8CbF9e1f368B2EE521bD2fa2F49eADb1) for [reUSD/sfrxUSD](https://www.curve.finance/dex/ethereum/pools/0xed785Af60bEd688baa8990cD5c4166221599A441), with an initial 3M crvUSD borrowing cap. LP holders can borrow against their position without unwinding it, or use borrowed crvUSD to buy and deposit more LP collateral. [Resupply support](https://docs.resupply.finance/how-to-guides/using-resupply/leverage) would add a separate loop for crvUSD lenders: use their yield-bearing lending receipt to mint reUSD, swap that reUSD into crvUSD, and supply again. This increases lending exposure and can deepen liquidity for LP-backed borrowing. wen on Resupply? ### More borrowing capacity proposed for sDOLA [Vote 1505](https://www.curve.finance/dao/ethereum/proposals/ownership/1505/) proposes raising the sDOLA Llamalend v2 borrow cap from 12.4M to 25M crvUSD, adding room for future borrowing. Voting runs through October 21 at 20:56 UTC; the higher cap is not live yet. ### alUSD/avUSD gauge approved, awaiting execution [Vote 1500](https://www.curve.finance/dao/ethereum/proposals/ownership/1500/) passed but has not been executed. It would make the Alchemix/Avant pool eligible for future CRV incentives; registration starts at zero gauge weight, so approval alone does not start rewards. ### Better Llamalend market pages [Llamalend](https://www.curve.finance/llamalend/ethereum/markets) market pages have a new layout, and they show far more about each market. The biggest addition is a list of everyone in the market. Borrow pages show each borrower's collateral, debt, health and share of the market's loans, next to totals for borrowers, debt and collateral. Supply pages list suppliers by their share of deposits. Before you lend into a market, you can see whether its loans sit at healthy levels or crowd toward liquidation. Each row links to the address on the block explorer. Advanced details grew as well. Every market now shows its solvency, how many days it has been live, and the maximum leverage and return on equity it allows. A section bar takes you straight to your position, the Risk & Liquidation chart, rate history, market activity or the advanced details. On a phone, the borrow and supply forms open in a drawer and leave the market details in view. The market list gained a Collateral Yield column for anyone weighing yield-bearing collateral. Numerous smaller bug fixes and improvements have been added too. ### veCRV vote incentives Existing veCRV holders can compare [DOLA/sUSDe](https://votemarket.stakedao.org/curve/gauge/1-0x8f5e52BE9B7BDe850BA13e40284F63f14677058f) with a 37,500 DOLA period budget, and [OETH/WETH](https://votemarket.stakedao.org/curve/gauge/1-0x36cC1d791704445A5b6b9c36a667e511d4702F3f) with 10,500 USDC, on Votemarket’s direct-veCRV ballot. The current period ends October 22 at 00:00 UTC. Both campaigns are open to all voters and cap rewards per veCRV. Budgets are shared voter incentives, not LP APR. Check the ten-day gauge-vote cooldown and voting/claim costs before reallocating. ## Explore Curve Explore [Curve pools](https://curve.finance/dex), [Llamalend markets](https://curve.finance/lend) or [savings crvUSD](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance). Choose the product that fits the asset and liquidity you need. **Risk information:** [pool risks](https://docs.curve.finance/user/security/risks/pools?ref=news.curve.finance), [lending risks](https://docs.curve.finance/user/security/risks/lending?ref=news.curve.finance) and [crvUSD risks](https://docs.curve.finance/user/security/risks/crvusd?ref=news.curve.finance). ### Curve Selected Yields & Key Metrics: Week 41, 2026 URL: https://news.curve.finance/curve-best-yields-week-41-2026/ Last updated: 2026-10-08T19:45:42.000Z ## Curve this week in 60 seconds - USD LP highlights: [reUSD (Resupply)/sDOLA](https://curve.finance/dex/ethereum/pools/factory-stable-ng-413/deposit) **9.1%** and [sUSDx (Axis)/USDx (Axis)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1052/deposit) **8.2%** modeled APR. - Lending: supply crvUSD [against sUSDe](https://curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit) **5.4%** APR; [against sDOLA](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit) **5.2%**. - ETH LP highlights: [ETH/ETHx](https://curve.finance/dex/ethereum/pools/factory-v2-338/deposit) **5.5%** modeled APR. - Tripool: [crvUSD/WETH/CRV](https://curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit) **6.0%** modeled APR, combining dollar, ETH and CRV exposure. - Coming next: [LP-backed Llamalend borrowing](https://curve.finance/dao/ethereum/proposals) is up for approval, opening a route to reUSD (Resupply)/sfrxUSD LP loops if the vote passes. ## Selected yields Markets shown have at least $100,000 in pool liquidity or supplied assets. Pool APRs model a new $100,000 deposit using 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](https://convexfinance.com/), [StakeDAO](https://www.stakedao.org/) or [Yearn](https://yearn.fi/). 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 | | ------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply)![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/ethereum/pools/factory-stable-ng-413/deposit "reUSD/sDola \| 0x48d670D189B4b48757992D36897bCa6E3f889040") | 9.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![sUSDx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeb892628d1e58bc475a6dcb7f5dbc4f591632aa4.png)sUSDx (Axis)![USDx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa1fa7777974312f7d801a8880714a218f76233f8.png)USDx (Axis)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1052/deposit "sUSDx/USDx \| 0x1C9A0b9bFF066756c4586CB6711483Cfa9f281eE") | 8.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD ![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG ](https://curve.finance/dex/ethereum/pools/factory-stable-ng-705/deposit "USG/frxUSD \| 0xEfc056790bb19702b2164ec6Ea6bA3AE01d81195") | 8.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply)![scrvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-392/deposit "reUSD/scrvUSD \| 0xc522A6606BBA746d7960404F22a3DB936B6F4F50") | 8.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC ![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG ](https://curve.finance/dex/ethereum/pools/factory-stable-ng-704/deposit "USG/USDC \| 0x97BA10115da528c113462EDE9C20D7adc806D93f") | 7.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG ![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA ](https://curve.finance/dex/ethereum/pools/factory-stable-ng-895/deposit "USG/sDOLA \| 0x317837AED98bea887074d1f97Fd3C83eBCA6905b") | 7.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD ![sUSDai](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai ](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1015/deposit "frxUSD/sUSDai \| 0x1Fce0B50C48A7Bf67022a82deC9C26e02683bF52") | 7.6% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply)![sfrxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-393/deposit "reUSD/sfrxUSD \| 0xed785Af60bEd688baa8990cD5c4166221599A441") | 7.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply)![fxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-414/deposit "reUSD/fxUSD \| 0xb0ef04ACE97d350E24Efa5139d2590D26a61A8Dc") | 6.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![trUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd0580192e98ea6ceb9c7b6191ed2e27560911697.png)trUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1005/deposit "frxUSD/trUSD \| 0xd1D954BC94c843815EC7b8119f2de00AF27Fa6Ff") | 6.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![scrvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD ![sUSDe](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe ](https://curve.finance/dex/ethereum/pools/factory-stable-ng-296/deposit "LlamaThena \| 0xd29f8980852c2c76fC3f6E96a7Aa06E0BedCC1B1") | 6.4% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD ![sUSDe](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe ](https://curve.finance/dex/ethereum/pools/factory-stable-ng-169/deposit "sUSDe/crvUSD \| 0x57064F49Ad7123C92560882a45518374ad982e85") | 5.7% | ### Selected Llamalend supply yields | Chain | Lent asset | Collateral | APR | | ------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit "Llamalend v1: lend crvUSD against sUSDe") | [![sUSDe](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit "Llamalend v1: lend crvUSD against sUSDe") | 5.4% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit "Llamalend v2: lend crvUSD against sDOLA") | [![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit "Llamalend v2: lend crvUSD against sDOLA") | 5.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit "Llamalend v2: lend crvUSD against sfrxUSD") | [![sfrxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit "Llamalend v2: lend crvUSD against sfrxUSD") | 5.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit "Llamalend v1: lend crvUSD against wstETH") | [![wstETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit "Llamalend v1: lend crvUSD against wstETH") | 4.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit "Llamalend v2: lend crvUSD against syrupUSDC") | [![syrupUSDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit "Llamalend v2: lend crvUSD against syrupUSDC") | 4.4% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit "Llamalend v2: lend crvUSD against svZCHF") | [![svZCHF](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe5f130253ff137f9917c0107659a4c5262abf6b0.png)svZCHF](https://curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit "Llamalend v2: lend crvUSD against svZCHF") | 3.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9/vault/deposit "Llamalend v1: lend crvUSD against sreUSD") | [![sreUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD (Resupply)](https://curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9/vault/deposit "Llamalend v1: lend crvUSD against sreUSD") | 3.5% | 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 | | ------------------------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![ETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.png)ETH![ETHx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa35b1b31ce002fbf2058d22f30f95d405200a15b.png)ETHx ](https://curve.finance/dex/ethereum/pools/factory-v2-338/deposit "Curve.fi Factory Pool: ETHx-ETH \| 0x59Ab5a5b5d617E478a2479B0cAD80DA7e2831492") | ETH | 5.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![ETH+](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+ ![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-482/deposit "ETH+/ETH \| 0x2c683fAd51da2cd17793219CC86439C1875c353e") | ETH | 3.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![weETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH ](https://curve.finance/dex/ethereum/pools/factory-stable-ng-157/deposit "weETH/WETH-ng \| 0xDB74dfDD3BB46bE8Ce6C33dC9D82777BCFc3dEd5") | ETH | 2.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC ![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC ![hemiBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC ](https://curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit "HemiBTC/cbBTC/WBTC \| 0x66039342C66760874047c36943B1e2d8300363BB") | BTC | 2.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![tETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd11c452fc99cf405034ee446803b6f6c1f6d5ed8.png)tETH ![weETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH ](https://curve.finance/dex/ethereum/pools/factory-stable-ng-302/deposit "tETH/weETH \| 0x394a1e1b934cb4F4a0dC17BDD592ec078741542F") | ETH | 2.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![stETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH ![frxETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH ](https://curve.finance/dex/ethereum/pools/factory-v2-274/deposit "Curve.fi Factory Plain Pool: stETH/frxETH \| 0x4d9f9D15101EEC665F77210cB999639f760F831E") | ETH | 1.9% | ### Other selected yields | Chain | Market | Asset | APR | | ------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD ![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![CRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV ](https://curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit "TriCRV \| 0x4eBdF703948ddCEA3B11f675B4D1Fba9d2414A14") | TRICRYPTO | 6.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD ![ZCHF](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF ](https://curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit "ZCHF/CRVUSD \| 0x027B40F5917FCd0eac57d7015e120096A5F92ca9") | FXSwap | 4.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![GHO](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO ![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC ![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit "TricryptoGHO \| 0x8a4f252812dFF2A8636E4F7EB249d8FC2E3bd77f") | TRICRYPTO | 4.6% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC ![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC ![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit "TricryptoUSDC \| 0x7F86Bf177Dd4F3494b841a37e810A34dD56c829B") | TRICRYPTO | 2.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USDT](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT ![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC ![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-1/deposit "TricryptoUSDT \| 0xf5f5B97624542D72A9E06f04804Bf81baA15e2B4") | TRICRYPTO | 1.9% | ## Protocol activity and stability ### crvUSD & scrvUSD | Metric | Value | Vs W40 | | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------- | --------------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Mint-market debt | $74.8M | +1.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD yield (APY) | 2.9% | \-0.3 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD assets / mint debt | 21.2% | \-0.9 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD oracle price | $0.9998 | $0.0000 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Average borrow APY | 3.6% | \-0.1 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper debt | 20.58M crvUSD | \-13.17M crvUSD | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Mint borrowing fees collected | $50.2k | \-6.7% | Changes compare with last week’s publication. Stocks use 08:00 UTC in both issues; fees cover completed Thursday-to-Thursday weeks. Average borrow APY is debt-weighted. PegKeeper debt is minted pool liquidity, not a loss reserve. ### Llamalend | Metric | Value | Vs W40 | | ----------------------- | ----- | ------ | | 🦙Llamalend TVL | $269M | \-0.6% | | 🦙Supplied | $97M | +1.3% | | 🦙Borrowed | $151M | +2.5% | | 🦙Collateral | $247M | 0.0% | | 🦙Loans | 1,208 | +8 | | 🦙V2 accrued admin fees | $2.1k | +14.8% | TVL counts lending and mint markets; supplied assets are lending-only. One borrower [used the leverage route to borrow about 646,000 crvUSD and buy roughly 532,000 sfrxUSD](https://etherscan.io/tx/0x702e316dacd46521a49af2a20182cc9c14a1a64899fce6cd0b6ba5c485b473e1) in the old v1 market. Separately, another [borrowed 580,000 crvUSD against 572,169 syrupUSDC](https://etherscan.io/tx/0x891ba926b53826be1392d3baa7461ff798d5aa73a4250b68713648b8329d6b5f). ### DAO | Metric | Value | Vs W40 | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------- | ---------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV distribution | $111.1k | +18.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 1.915% | +0.287 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV emissions (weekly gauge allocation) | 1.86M CRV ($727.9k) | 0.00% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Annual CRV inflation | 4.008% | \-0.003 pp | Weekly CRV emissions are scheduled gauge allocations, not tokens already claimed. Their change is measured in CRV, not dollars. ## Governance and protocol updates ### First LP-backed Llamalend market up for approval [Vote 1501](https://curve.finance/dao/ethereum/proposals) would activate a v2 market for reUSD (Resupply)/sfrxUSD LP collateral with an initial 3M crvUSD borrowing cap. LP holders could borrow crvUSD without unwinding their position, while pool fees and sfrxUSD yield continue to accrue. Loopers could use borrowed crvUSD to add more LP collateral. Compare LP returns and any future incentives with borrowing and execution costs before levering up. Voting closes next Thursday; launch still requires passage and execution. ### Gauge cleanup and v2 migration The DAO completed a cleanup of outdated gauges: [vote 1499](https://curve.finance/dao/ethereum/proposals) ended CRV emissions for the old CRV/cvxCRV pool and old sfrxUSD/crvUSD v1 vault. Their pools and loans remain open. Users in the legacy sfrxUSD market should move to [the v2 market](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit) when feasible. ### New alUSD/avUSD liquidity route [Vote 1500](https://curve.finance/dao/ethereum/proposals) would make the alUSD/avUSD pool eligible for future CRV incentives to help build liquidity between Alchemix and Avant. It adds a direct swap route for alUSD holders and an Ethereum venue for bridged avUSD. The pool is still at seed liquidity; rewards require approval, execution and subsequent gauge-weight votes. ### App improvements The pools page now has a [Residual rewards tab](https://curve.finance/dex/ethereum/pools/) for finding unclaimed rewards from former LP positions. veCRV holders can also claim their fee rewards from the [Lock CRV tab](https://curve.finance/dao/ethereum/vecrv/). ### veCRV vote incentives Existing veCRV holders can compare two campaigns on [Votemarket’s direct-veCRV ballot](https://votemarket.stakedao.org/curve?market=curve): [alETH/frxETH](https://votemarket.stakedao.org/curve/gauge/1-0x415F30505368fa1dB82Feea02EB778be04e75907?market=curve) offers a **900 ALCX** period budget, while [HemiBTC/cbBTC/WBTC](https://votemarket.stakedao.org/curve/gauge/1-0xeCBcF829742987c0600e0ee1117a32d09451882E?market=curve) offers **1,850.74 USDC**. Both campaigns are open to all voters and cap rewards per veCRV. Budgets are shared voter incentives, not LP APR. Check the ten-day gauge-vote cooldown and voting/claim costs before reallocating. ## Ecosystem news ### Borrowing dollars against Swiss-franc savings A [new Curve explainer](https://news.curve.finance/borrowing-dollars-without-selling-your-francs/) shows how svZCHF holders can borrow crvUSD without selling their Swiss-franc savings. The collateral keeps earning its native savings yield, while the ZCHF/crvUSD FXSwap pool supplies pricing and the conversion route used during liquidation protection. ## Explore Curve Explore [Curve pools](https://curve.finance/dex), [Llamalend markets](https://curve.finance/lend) or [savings crvUSD](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance). Choose the product that fits the asset and liquidity you need. **Risk information:** [pool risks](https://docs.curve.finance/user/security/risks/pools?ref=news.curve.finance), [lending risks](https://docs.curve.finance/user/security/risks/lending?ref=news.curve.finance) and [crvUSD risks](https://docs.curve.finance/user/security/risks/crvusd?ref=news.curve.finance). ### Borrowing dollars without selling your francs URL: https://news.curve.finance/borrowing-dollars-without-selling-your-francs/ Last updated: 2026-10-02T11:38:27.000Z DeFi lending is still overwhelmingly dollar-based. Users lend dollar stablecoins, borrow other dollar stablecoins, or post volatile crypto to borrow dollars. But someone saving in Swiss francs may also want to borrow money, whether to cover expenses or use it elsewhere, without selling their CHF position. That requires a way to use those savings as collateral in the dollar lending markets where most of the liquidity sits. Liquidity between currencies is growing but remains limited, and even where borrowing is possible, the interest can make keeping the CHF position expensive. The new [svZCHF market on Llamalend v2](https://www.curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213e276e4B57B0690169F043) shows how this can become more practical. The existing zCHF/crvUSD FXSwap pool provides liquidity for pricing and liquidations, while the Swiss franc collateral continues earning a savings yield that helps offset borrowing costs. ## **From savings to lending** The obvious starting point would be a market where holders borrow crvUSD against zCHF itself. Curve already has an [FX pool](https://www.curve.finance/dex/ethereum/pools/0x027B40F5917FCd0eac57d7015e120096A5F92ca9) connecting the two assets. But making borrowing possible does not automatically make it attractive. Plain zCHF earns no yield, so the holder would be paying significant interest on the loan to attract lenders to provide the liquidity in the first place. Frankencoin introduced a savings token, [svZCHF](https://app.frankencoin.com/savings/vault), which changes that calculation. It represents zCHF deposited into the protocol’s savings system, allowing holders to earn the savings yield simply by holding the token. That means if it's used as a collateral in Llamalend, you would keep earning that yield. That income then helps offset the interest paid on a potential loan. Using a different collateral token could have meant needing a new pool and attracting another set of liquidity providers. But svZCHF can be unwrapped into zCHF, so the lending market can use the existing zCHF/crvUSD liquidity. That gives the initial FX pool a role beyond exchanging currencies. Its liquidity now supports a new credit market where holders can borrow dollars against their Swiss franc savings. The pool provides a price for the underlying zCHF and a route to convert it into crvUSD if the collateral needs to be liquidated. What remains is attracting lenders willing to supply the dollars at a rate that makes borrowing worthwhile. ## A market needs both sides Yield-bearing collateral and existing FX liquidity make this lending market possible, but they do not provide the dollars to lend. Someone still needs to supply crvUSD, and the savings income earned by svZCHF holders does not go to those lenders. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/10/image-1.png) How ****svZCHF** connects Frankencoin savings, Curve FX liquidity and Llamalend borrowing, with ****crvUSD** lenders supplying the market and borrowers able to optionally loop into more svZCHF exposure. It can, however, raise demand for loans, and the subsequent interest they are ready to pay lenders. Borrowers can use crvUSD to buy more zCHF, deposit it into savings and increase their svZCHF collateral. The opportunity to earn on a larger CHF position gives them another reason to borrow, and the interest they pay generates income for lenders. That demand depends on savings income relative to borrowing costs, swap costs, and CHF/USD movements. Lender incentives also help attract lender supply while that demand develops. As of 30th of September, lenders had supplied roughly 458k crvUSD, with 240k crvUSD borrowed across eight active loans. Utilization was about 43%, and most of the indicated lender return came from CRV rewards rather than borrower interest. Borrow rate oscillate around 1% on a monthly average, making it profitable for users doing leverage looping, with a estimated maximum APR of 21.09% in zCHF at the time of writing. That support is valuable while the market develops, but it comes at a cost within Curve’s broader emissions programme. Attracting deposits is only part of what those incentives need to achieve. The aim is to grow borrowing that remains worthwhile for users and generates enough interest to become the main source of lender income over time. --- The svZCHF market shows how existing FX liquidity and a savings token can make dollar credit available against Swiss franc savings. The infrastructure is in place, and the remaining challenge is making the economics work for both sides as the market grows. [Go to LLv2 svzCHF market](https://www.curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213e276e4B57B0690169F043) ### Curve Selected Yields & Key Metrics: Week 40, 2026 URL: https://news.curve.finance/curve-best-yields-week-40-2026/ Last updated: 2026-10-01T18:07:16.000Z ## Curve this week in 60 seconds - USD LP highlights: [sUSDx (Axis)/USDx (Axis)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1052/deposit) **11.0%** and [frxUSD (Frax)/USG (Tangent)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-705/deposit) **8.5%** modeled APR. - Lending: [supply crvUSD against sfrxUSD](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit) **4.8%** APR; [against wstETH](https://curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit) **9.3%**. - ETH LP highlights: [ETH/ETHx (Stader)](https://curve.finance/dex/ethereum/pools/factory-v2-338/deposit) **6.3%** modeled APR, with ETH price and staking-token risk. - Tripool: [crvUSD (Curve)/WETH/CRV (Curve)](https://curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit) **6.2%** modeled APR, combining dollar, ETH and CRV exposure. > sUSDx/USDx’s estimate comes from LP growth rather than CRV rewards; frxUSD/USG’s depends mostly on CRV incentives. Check the return source and receipt-redemption terms, not just the headline APR. ## Selected yields Markets shown have at least $100,000 in pool liquidity or supplied assets. Pool APRs model a new $100,000 deposit using 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](https://convexfinance.com/), [StakeDAO](https://www.stakedao.org/) or [Yearn](https://yearn.fi/). StableSwap pools with more than 75% of value or normalized reserves in one coin are omitted. ### Selected USD yields | Chain | Market | APR | | ------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![sUSDx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeb892628d1e58bc475a6dcb7f5dbc4f591632aa4.png)sUSDx (Axis)![USDx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa1fa7777974312f7d801a8880714a218f76233f8.png)USDx (Axis)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1052/deposit "sUSDx/USDx \| 0x1C9A0b9bFF066756c4586CB6711483Cfa9f281eE") | 11.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD (Frax)![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG (Tangent)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-705/deposit "USG/frxUSD \| 0xEfc056790bb19702b2164ec6Ea6bA3AE01d81195") | 8.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC (Circle)![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG (Tangent)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-704/deposit "USG/USDC \| 0x97BA10115da528c113462EDE9C20D7adc806D93f") | 8.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG (Tangent)![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA (Inverse Finance)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-895/deposit "USG/sDOLA \| 0x317837AED98bea887074d1f97Fd3C83eBCA6905b") | 7.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD (Frax)![sUSDai](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai (USD.AI)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1015/deposit "frxUSD/sUSDai \| 0x1Fce0B50C48A7Bf67022a82deC9C26e02683bF52") | 7.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![scrvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD (Curve)![sUSDe](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe (Ethena)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-296/deposit "LlamaThena \| 0xd29f8980852c2c76fC3f6E96a7Aa06E0BedCC1B1") | 5.7% | [sUSDai](https://docs.usd.ai/depositor/susdai) holds loan exposure with 30-day unstaking epochs. [USDx](https://docs.axis.to/usdx-the-synthetic-dollar/usdx) has synthetic-dollar backing and counterparty risk. The frxUSD/sUSDai estimate no longer includes the WFRAX or CHIP reward components present in last week’s snapshot. ### Selected Llamalend supply yields | Chain | Lent asset | Collateral | APR | | ------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit "Llamalend v1: lend crvUSD against wstETH") | [![wstETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit "Llamalend v1: lend crvUSD against wstETH") | 9.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit "Llamalend v2: lend crvUSD against svZCHF") | [![svZCHF](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe5f130253ff137f9917c0107659a4c5262abf6b0.png)svZCHF](https://curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit "Llamalend v2: lend crvUSD against svZCHF") | 4.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit "Llamalend v2: lend crvUSD against sfrxUSD") | [![sfrxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit "Llamalend v2: lend crvUSD against sfrxUSD") | 4.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit "Llamalend v2: lend crvUSD against sDOLA") | [![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit "Llamalend v2: lend crvUSD against sDOLA") | 4.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit "Llamalend v2: lend crvUSD against syrupUSDC") | [![syrupUSDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit "Llamalend v2: lend crvUSD against syrupUSDC") | 4.4% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit "Llamalend v1: lend crvUSD against sUSDe") | [![sUSDe](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit "Llamalend v1: lend crvUSD against sUSDe") | 3.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05/vault/deposit "Llamalend v1: lend crvUSD against fxSAVE") | [![fxSAVE](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05/vault/deposit "Llamalend v1: lend crvUSD against fxSAVE") | 3.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9/vault/deposit "Llamalend v1: lend crvUSD against sreUSD") | [![sreUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9/vault/deposit "Llamalend v1: lend crvUSD against sreUSD") | 3.0% | 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 | | ------------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![ETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.png)ETH![ETHx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa35b1b31ce002fbf2058d22f30f95d405200a15b.png)ETHx (Stader)](https://curve.finance/dex/ethereum/pools/factory-v2-338/deposit "Curve.fi Factory Pool: ETHx-ETH \| 0x59Ab5a5b5d617E478a2479B0cAD80DA7e2831492") | ETH | 6.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![ETH+](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+ (Reserve)![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-482/deposit "ETH+/ETH \| 0x2c683fAd51da2cd17793219CC86439C1875c353e") | ETH | 4.4% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC (BitGo)![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC (Coinbase)![hemiBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC (Hemi)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit "HemiBTC/cbBTC/WBTC \| 0x66039342C66760874047c36943B1e2d8300363BB") | BTC | 2.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![tETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd11c452fc99cf405034ee446803b6f6c1f6d5ed8.png)tETH (Treehouse)![weETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH (ether.fi)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-302/deposit "tETH/weETH \| 0x394a1e1b934cb4F4a0dC17BDD592ec078741542F") | ETH | 2.4% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![stETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH (Lido)![frxETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH (Frax)](https://curve.finance/dex/ethereum/pools/factory-v2-274/deposit "Curve.fi Factory Plain Pool: stETH/frxETH \| 0x4d9f9D15101EEC665F77210cB999639f760F831E") | ETH | 1.8% | ### Other selected yields | Chain | Market | Asset | APR | | ------------------------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD (Curve)![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![CRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV (Curve)](https://curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit "TriCRV \| 0x4eBdF703948ddCEA3B11f675B4D1Fba9d2414A14") | TRICRYPTO | 6.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD (Curve)![ZCHF](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF (Frankencoin)](https://curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit "ZCHF/CRVUSD \| 0x027B40F5917FCd0eac57d7015e120096A5F92ca9") | FOREX | 5.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![GHO](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO (Aave)![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC (Coinbase)![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit "TricryptoGHO \| 0x8a4f252812dFF2A8636E4F7EB249d8FC2E3bd77f") | TRICRYPTO | 4.6% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC (Circle)![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC (BitGo)![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit "TricryptoUSDC \| 0x7F86Bf177Dd4F3494b841a37e810A34dD56c829B") | TRICRYPTO | 3.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USDT](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT (Tether)![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC (BitGo)![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-1/deposit "TricryptoUSDT \| 0xf5f5B97624542D72A9E06f04804Bf81baA15e2B4") | TRICRYPTO | 2.1% | ## Protocol activity and stability ### crvUSD & scrvUSD | Metric | Value | Vs W39 | | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------- | -------------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Mint-market debt | $74.0M | \-4.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD yield (APY) | 3.2% | \-0.1 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD assets / mint debt | 22.0% | +1.3 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD oracle price | $0.9999 | $0.0000 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Average borrow APY | 3.7% | 0.0 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper debt | 33.75M crvUSD | +11.05M crvUSD | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Mint borrowing fees collected | $53.9k | +3.2% | Changes compare with last week’s publication: stocks use 08:00 UTC this week versus 12:00 UTC last week; fees cover completed Thursday-to-Thursday weeks. Average borrow APY is debt-weighted. PegKeeper debt is minted pool liquidity, not a loss reserve. Repayments by two WBTC-backed borrowers exceeded the net mint-debt decline: [one](https://etherscan.io/address/0x8A97194Cc92dA4032F3d0032Dfb26b74a897C298) repaid about $2.39M and [another](https://etherscan.io/address/0xaB3908E19b383289EbBA0CE2E4d14520A378c3ce) about $1.84M. ### Llamalend | Metric | Value | Vs W39 | | ----------------------- | ----- | ------ | | 🦙Llamalend TVL | $271M | \-0.6% | | 🦙Supplied | $96M | +2.0% | | 🦙Borrowed | $147M | \-0.6% | | 🦙Collateral | $247M | \-0.4% | | 🦙Loans | 1,200 | +22 | | 🦙V2 accrued admin fees | $1.8k | +8.6% | TVL counts lending and mint markets; supplied assets are lending-only. A borrower closed roughly $532k of debt in the old sfrxUSD market, then separately [borrowed 565,000 crvUSD to add sDOLA exposure](https://etherscan.io/tx/0x8508a0e2ed517d9107a871464e2d908814fe81ee89a63dd9f67ed00c64daa6d1). ### DAO | Metric | Value | Vs W39 | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------- | ---------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV distribution | $94.0k | \-19.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 1.628% | \-0.729 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV emissions (weekly gauge allocation) | 1.86M CRV ($721.6k) | +1.56% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Annual CRV inflation | 4.011% | \-0.003 pp | Weekly CRV emissions are scheduled gauge allocations, not tokens already claimed. Their change is measured in CRV, not dollars. The source revised the prior gauge allocation after last week’s publication, so that comparison includes a data revision. ## Governance and protocol updates ### **App improvements** veCRV fee claiming has moved into the DAO’s **CRV locker page**. Supported Llamalend leverage routes now use market-specific slippage defaults and external-router fees. ### Vote would end incentives for two old gauges [Ownership vote 1499](https://curve.finance/dao/ethereum/proposals) would stop future CRV emissions to the old CRV/cvxCRV pool and old sfrxUSD/crvUSD v1 vault, reducing rewards for existing users. It would not close the pool or loans; the newer sfrxUSD Llamalend lending market in this issue is a different one. ### veCRV vote incentives Existing veCRV holders can compare two live campaigns on [Votemarket’s veCRV ballot](https://votemarket.stakedao.org/curve?market=curve): [DOLA/sUSDe](https://votemarket.stakedao.org/curve/gauge/1-0x8f5e52BE9B7BDe850BA13e40284F63f14677058f) has a **40,000 DOLA** period budget, and [OETH/WETH](https://votemarket.stakedao.org/curve/gauge/1-0x36cC1d791704445A5b6b9c36a667e511d4702F3f) has **10,000 USDC**. These budgets are shared among eligible voters, not LP APR. Check campaign caps, the ten-day gauge-vote cooldown and voting/claim costs before reallocating. ## Explore Curve Explore [Curve pools](https://curve.finance/dex), [Llamalend markets](https://curve.finance/lend) or [savings crvUSD](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance). Choose the product that fits the asset and liquidity you need. **Risk information:** [pool risks](https://docs.curve.finance/user/security/risks/pools?ref=news.curve.finance), [lending risks](https://docs.curve.finance/user/security/risks/lending?ref=news.curve.finance) and [crvUSD risks](https://docs.curve.finance/user/security/risks/crvusd?ref=news.curve.finance). ### Curve Selected Yields & Key Metrics: Week 39, 2026 URL: https://news.curve.finance/curve-best-yields-week-39-2026/ Last updated: 2026-09-24T19:13:24.000Z ## Curve this week in 60 seconds - USD LP highlights: [sUSG/reUSD (Re Protocol)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit) **16.0%** and [frxUSD/sUSDai](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1015/deposit) **14.0%** APR. - Lending: [supply crvUSD against svZCHF](https://curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit) gave a steady **5.7%** APR. - ETH LP highlights: [ETH+/WETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-482/deposit) at **6.0%** modeled APR. This is ETH-yield, not dollar. - crvUSD: [scrvUSD](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) showed **3.2% APY** for savers and average mint borrowing cost was **3.7% APY**. - CRV holders: [CRV/cvxCRV](https://curve.finance/dex/ethereum/pools/factory-v2-22/deposit) at **17.7%** APR; [direct veCRV voting rewards](https://votemarket.stakedao.org/curve/gauge/1-0x415F30505368fa1dB82Feea02EB778be04e75907) require a separate locked-CRV position. - TricryptoUSDC: [higher fee settings](https://etherscan.io/tx/0x1acf9ffcb12dd1f6b6794e3f55c9e9e2e7a18513b30bf13bf94a665d59fb24e7) are live. Traders may pay more, with the DAO expected to earn more as a result. ## Selected yields Markets shown have at least $100,000 in pool liquidity or supplied assets. Pool APRs model a new $100,000 deposit using 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](https://convexfinance.com/), [StakeDAO](https://www.stakedao.org/) or [Yearn](https://yearn.fi/). ### Selected USD yields | Chain | Market | APR | | ------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![sUSG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf17d6f98a5c6eaa99d149079984119e0a4ef6900.png)sUSG![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5086bf358635b81d8c47c66d1c8b9e567db70c72.png)reUSD (Re Protocol)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit "sUSG/reUSD \| 0xC6ac08424eE6D1373F03611b96f5Da849594B6D8") | 16.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![sUSDai](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1015/deposit "frxUSD/sUSDai \| 0x1Fce0B50C48A7Bf67022a82deC9C26e02683bF52") | 14.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://curve.finance/dex/ethereum/pools/factory-stable-ng-705/deposit "USG/frxUSD \| 0xEfc056790bb19702b2164ec6Ea6bA3AE01d81195") | 9.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![USD3](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x056b269eb1f75477a8666ae8c7fe01b64dd55ecc.png)USD3](https://curve.finance/dex/ethereum/pools/factory-stable-ng-906/deposit "USD3/frxUSD \| 0x7BA89Bc658c07569cfa6d7947adAA80181a24568") | 9.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![sUSDx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeb892628d1e58bc475a6dcb7f5dbc4f591632aa4.png)sUSDx![USDx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa1fa7777974312f7d801a8880714a218f76233f8.png)USDx](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1052/deposit "sUSDx/USDx \| 0x1C9A0b9bFF066756c4586CB6711483Cfa9f281eE") | 9.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/ethereum/pools/factory-stable-ng-895/deposit "USG/sDOLA \| 0x317837AED98bea887074d1f97Fd3C83eBCA6905b") | 9.1% | | ![Fraxtal](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![FXB20551231](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xc38173d34afaea88bc482813b3cd267bc8a1ea83.png)FXB20551231](https://curve.finance/dex/fraxtal/pools/factory-stable-ng-24/deposit "frxUSDFXB20551231 \| 0x4Cfc391d75c43Cf1Bdb368e8bF680AEd1228df39") | 8.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://curve.finance/dex/ethereum/pools/factory-stable-ng-704/deposit "USG/USDC \| 0x97BA10115da528c113462EDE9C20D7adc806D93f") | 7.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![fxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-610/deposit "fxUSD/frxUSD \| 0x851907CAC684797eee43669798D78004e269Cb5E") | 7.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![scrvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/ethereum/pools/factory-stable-ng-297/deposit "SaveDola \| 0x76A962BA6770068bCF454D34dDE17175611e6637") | 6.4% | Re Protocol [reUSD](https://docs.re.xyz/products/about-reusd) is a reinsurance share: minting is KYC-gated for eligible non-U.S. users, and [direct redemptions are capped or queued](https://docs.re.xyz/minting-and-redemptions/redemptions). USD.AI says [sUSDai is not a stablecoin](https://docs.usd.ai/depositor/susdai); issuer unstaking uses a 30-day FIFO epoch and can take longer when liquidity is tight. Pool exits depend on liquidity, not just the APR. ### Selected Llamalend supply yields | Chain | Lent asset | Collateral | APR | | ------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit "Llamalend v2: lend crvUSD against svZCHF") | [![svZCHF](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe5f130253ff137f9917c0107659a4c5262abf6b0.png)svZCHF](https://curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit "Llamalend v2: lend crvUSD against svZCHF") | 5.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit "Llamalend v1: lend crvUSD against sUSDe") | [![sUSDe](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit "Llamalend v1: lend crvUSD against sUSDe") | 4.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit "Llamalend v2: lend crvUSD against sfrxUSD") | [![sfrxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD (v2)](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit "Llamalend v2: lend crvUSD against sfrxUSD") | 4.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit "Llamalend v2: lend crvUSD against sDOLA") | [![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit "Llamalend v2: lend crvUSD against sDOLA") | 4.4% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit "Llamalend v2: lend crvUSD against syrupUSDC") | [![syrupUSDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit "Llamalend v2: lend crvUSD against syrupUSDC") | 4.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit "Llamalend v1: lend crvUSD against wstETH") | [![wstETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit "Llamalend v1: lend crvUSD against wstETH") | 3.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9/vault/deposit "Llamalend v1: lend crvUSD against sreUSD") | [![sreUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9/vault/deposit "Llamalend v1: lend crvUSD against sreUSD") | 3.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50/vault/deposit "Llamalend v1: lend crvUSD against sfrxUSD") | [![sfrxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD (v1)](https://curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50/vault/deposit "Llamalend v1: lend crvUSD against sfrxUSD") | 2.9% | | ![Optimism](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![USDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC](https://curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA/vault/deposit "Llamalend v2: lend USDC against wstETH") | [![wstETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA/vault/deposit "Llamalend v2: lend USDC against wstETH") | 2.2% | Lending APR may include borrower interest and CRV rewards. ### Selected BTC and ETH yields | Chain | Market | Asset | APR | | ------------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![ETH+](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-482/deposit "ETH+/ETH \| 0x2c683fAd51da2cd17793219CC86439C1875c353e") | ETH | 6.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![hemiBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit "HemiBTC/cbBTC/WBTC \| 0x66039342C66760874047c36943B1e2d8300363BB") | BTC | 2.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![tETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd11c452fc99cf405034ee446803b6f6c1f6d5ed8.png)tETH![weETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-302/deposit "tETH/weETH \| 0x394a1e1b934cb4F4a0dC17BDD592ec078741542F") | ETH | 2.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![weETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-157/deposit "weETH/WETH-ng \| 0xDB74dfDD3BB46bE8Ce6C33dC9D82777BCFc3dEd5") | ETH | 2.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![ETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.png)ETH![ETHx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa35b1b31ce002fbf2058d22f30f95d405200a15b.png)ETHx](https://curve.finance/dex/ethereum/pools/factory-v2-338/deposit "Curve.fi Factory Pool: ETHx-ETH \| 0x59Ab5a5b5d617E478a2479B0cAD80DA7e2831492") | ETH | 1.9% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![stETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH![frxETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/ethereum/pools/factory-v2-274/deposit "Curve.fi Factory Plain Pool: stETH/frxETH \| 0x4d9f9D15101EEC665F77210cB999639f760F831E") | ETH | 1.6% | ### Other selected yields | Chain | Market | Asset | APR | | ------------------------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![CRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![cvxCRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://curve.finance/dex/ethereum/pools/factory-v2-22/deposit "Curve.fi Factory Plain Pool: cvxCRV \| 0x9D0464996170c6B9e75eED71c68B99dDEDf279e8") | CRV | 17.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![CRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![sdCRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/ethereum/pools/factory-v2-300/deposit "Curve.fi Factory Plain Pool: sdCRV/CRV \| 0xCA0253A98D16e9C1e3614caFDA19318EE69772D0") | CRV | 12.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![CRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![cvxCRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://curve.finance/dex/ethereum/pools/factory-v2-283/deposit "Curve.fi Factory Plain Pool: cvxCrv/Crv \| 0x971add32Ea87f10bD192671630be3BE8A11b8623") | CRV | 8.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![CRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit "TriCRV \| 0x4eBdF703948ddCEA3B11f675B4D1Fba9d2414A14") | TRICRYPTO | 6.6% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![ZCHF](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit "ZCHF/CRVUSD \| 0x027B40F5917FCd0eac57d7015e120096A5F92ca9") | FOREX | 4.6% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![GHO](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit "TricryptoGHO \| 0x8a4f252812dFF2A8636E4F7EB249d8FC2E3bd77f") | TRICRYPTO | 4.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit "TricryptoUSDC \| 0x7F86Bf177Dd4F3494b841a37e810A34dD56c829B") | TRICRYPTO | 2.5% | ## Protocol activity and stability Borrowers did not simply pile into leveraged ETH longs. One notable crvUSD mint-market borrower pledged 100 cbBTC for a 5 million crvUSD loan at 3.60% interest. ### crvUSD & scrvUSD | Metric | Value | Weekly change | | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------- | -------------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Mint-market debt | $77.4M | +5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD yield (APY) | 3.2% | \-0.1 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD assets / mint debt | 20.8% | \-0.9 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD oracle price | $0.9999 | +$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Average borrow APY | 3.7% | +0.1 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper debt | 22.70M crvUSD | +14.87M crvUSD | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Mint borrowing fees collected | $52.2k | +20.0% | Balances and rates use Thursday noon UTC; completed-week mint-fee activity ends Thursday 00:00 UTC. Weekly changes compare like-for-like observations. Average borrow APY is weighted by debt across mint markets. Your borrowing rate depends on the market and collateral you use. ### Llamalend | Metric | Value | Weekly change | | ----------------------- | ----- | ------------- | | 🦙Llamalend TVL | $272M | +8.1% | | 🦙Supplied | $94M | \-0.1% | | 🦙Borrowed | $148M | +4.4% | | 🦙Collateral | $248M | +10.0% | | 🦙Loans | 1,178 | +13 | | 🦙V2 accrued admin fees | $1.7k | +1.1% | TVL counts lending and mint markets; supplied assets is lending-only. V2 admin fees are accrued, not cash collected. ### DAO | Metric | Value | Weekly change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------- | ------------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV distribution | $116.2k | +27.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 2.357% | +0.414 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV emissions (weekly gauge allocation) | 1.83M CRV ($606.2k) | \-1.51% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Annual CRV inflation | 4.014% | \-0.003 pp | ## Governance and protocol updates ### TricryptoUSDC's higher-fee trade-off is live The [analysis behind the change](https://gov.curve.finance/t/tricryptousdc-parameter-update/11172) modeled more than twice the swap fees despite about 46% less volume: higher average fees outweighed fewer trades. The [fee change](https://etherscan.io/tx/0x1acf9ffcb12dd1f6b6794e3f55c9e9e2e7a18513b30bf13bf94a665d59fb24e7) is now applied and the pool-parameter ramp is complete. Traders may pay more; actual LP and DAO revenue is expected to increase for this pool. ### Vote incentives campaigns veCRV holders can compare two direct voting campaigns for the next allocation: [alETH/frxETH](https://votemarket.stakedao.org/curve/gauge/1-0x415F30505368fa1dB82Feea02EB778be04e75907) has a shared 900 ALCX budget, and [HemiBTC/cbBTC/WBTC](https://votemarket.stakedao.org/curve/gauge/1-0xeCBcF829742987c0600e0ee1117a32d09451882E) about 1,851 USDC. ## Explore Curve Explore [Curve pools](https://curve.finance/dex), [Llamalend markets](https://curve.finance/lend) or [savings crvUSD](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance). Choose the product that fits the asset and liquidity you need. **Risk information:** [pool risks](https://docs.curve.finance/user/security/risks/pools?ref=news.curve.finance), [lending risks](https://docs.curve.finance/user/security/risks/lending?ref=news.curve.finance) and [crvUSD risks](https://docs.curve.finance/user/security/risks/crvusd?ref=news.curve.finance). ### Curve Best Yields & Key Metrics: Week 38, 2026 URL: https://news.curve.finance/curve-best-yields-week-38-2026/ Last updated: 2026-09-17T19:37:13.000Z ## Curve this week in 60 seconds - **USD pool yields:** [sUSG/reUSD (Re Protocol)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit) at **15.1%**, [frxUSD/sUSDai](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1015/deposit) at **13.5%** and [reUSD (Resupply)/sDOLA](https://curve.finance/dex/ethereum/pools/factory-stable-ng-413/deposit) at **9.9%** estimated APR. - **Lending:** compare [crvUSD against svZCHF collateral](https://curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit) and [crvUSD against syrupUSDC collateral](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit). - **crvUSD:** average borrowing APY was **3.6%** at Thursday noon, up 1.0 pp week on week. Mint-market debt has since risen to **$77.8M**. - **BTC and ETH:** compare [ETH+/WETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-482/deposit) and [cbBTC/WBTC](https://curve.finance/dex/ethereum/pools/factory-stable-ng-264/deposit) for crypto-denominated exposure rather than dollar exposure. - **CRV holders:** compare [CRV/cvxCRV pool yield](https://curve.finance/dex/ethereum/pools/factory-v2-22/deposit) with the separate [voting-reward opportunities](#rewards-for-vecrv-votes) for existing veCRV holders. These require different positions. - **Ecosystem:** Metronome says its backing shortfall is closed and its internal swap remains closed. Its synths still trade below par. > Choose the exposure first: compare USD pools with USD pools, BTC/ETH pools with similar assets, and lending markets by borrower collateral. Then check the source of yield and the liquidity available to exit. ## Selected yields *Selected markets have at least $100,000 in pool liquidity or supplied assets; these are not an exhaustive ranking of every Curve opportunity. Estimated APRs use a modeled $100,000 deposit, trailing seven-day LP growth and current unboosted rewards where applicable. The dilution estimate assumes unchanged income; it is not a quote or a guaranteed return.* ### Selected USD yields | Chain | Market | APR | | ------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![sUSG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf17d6f98a5c6eaa99d149079984119e0a4ef6900.png)sUSG![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5086bf358635b81d8c47c66d1c8b9e567db70c72.png)reUSD (Re Protocol)](https://curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit "sUSG/reUSD \| 0xC6ac08424eE6D1373F03611b96f5Da849594B6D8") | 15.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![sUSDai](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1015/deposit "frxUSD/sUSDai \| 0x1Fce0B50C48A7Bf67022a82deC9C26e02683bF52") | 13.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply)![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/ethereum/pools/factory-stable-ng-413/deposit "reUSD/sDola \| 0x48d670D189B4b48757992D36897bCa6E3f889040") | 9.9% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![sUSDx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeb892628d1e58bc475a6dcb7f5dbc4f591632aa4.png)sUSDx![USDx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa1fa7777974312f7d801a8880714a218f76233f8.png)USDx](https://curve.finance/dex/ethereum/pools/factory-stable-ng-1052/deposit "sUSDx/USDx \| 0x1C9A0b9bFF066756c4586CB6711483Cfa9f281eE") | 9.6% | | ![Fraxtal](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![FXB20551231](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xc38173d34afaea88bc482813b3cd267bc8a1ea83.png)FXB20551231](https://curve.finance/dex/fraxtal/pools/factory-stable-ng-24/deposit "frxUSDFXB20551231 \| 0x4Cfc391d75c43Cf1Bdb368e8bF680AEd1228df39") | 9.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![frxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![USD3](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x056b269eb1f75477a8666ae8c7fe01b64dd55ecc.png)USD3](https://curve.finance/dex/ethereum/pools/factory-stable-ng-906/deposit "USD3/frxUSD \| 0x7BA89Bc658c07569cfa6d7947adAA80181a24568") | 8.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply)![scrvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-392/deposit "reUSD/scrvUSD \| 0xc522A6606BBA746d7960404F22a3DB936B6F4F50") | 8.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![reUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply)![sfrxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/dex/ethereum/pools/factory-stable-ng-393/deposit "reUSD/sfrxUSD \| 0xed785Af60bEd688baa8990cD5c4166221599A441") | 7.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USG](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/ethereum/pools/factory-stable-ng-895/deposit "USG/sDOLA \| 0x317837AED98bea887074d1f97Fd3C83eBCA6905b") | 6.9% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![scrvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/ethereum/pools/factory-stable-ng-297/deposit "SaveDola \| 0x76A962BA6770068bCF454D34dDE17175611e6637") | 6.5% | *Re Protocol's reUSD and Resupply USD are unrelated assets. Resupply reUSD was priced at about $0.989 in the checked data. Their issuer, collateral and redemption risks differ; token losses can outweigh yield. frxUSD/sUSDai includes CHIP rewards, whose value can change.* ### Top Llamalend supply yields | Chain | Lent asset | Collateral | APR | | ------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit "Llamalend v2: lend crvUSD against svZCHF") | [![svZCHF](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe5f130253ff137f9917c0107659a4c5262abf6b0.png)svZCHF](https://curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit "Llamalend v2: lend crvUSD against svZCHF") | 6.2% | | ![Optimism](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![USDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC](https://curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA/vault/deposit "Llamalend v2: lend USDC against wstETH") | [![wstETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA/vault/deposit "Llamalend v2: lend USDC against wstETH") | 6.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit "Llamalend v2: lend crvUSD against syrupUSDC") | [![syrupUSDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit "Llamalend v2: lend crvUSD against syrupUSDC") | 4.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit "Llamalend v2: lend crvUSD against sfrxUSD") | [![sfrxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD (v2)](https://curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit "Llamalend v2: lend crvUSD against sfrxUSD") | 4.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit "Llamalend v2: lend crvUSD against sDOLA") | [![sDOLA](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit "Llamalend v2: lend crvUSD against sDOLA") | 4.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit "Llamalend v1: lend crvUSD against sUSDe") | [![sUSDe](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit "Llamalend v1: lend crvUSD against sUSDe") | 3.9% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit "Llamalend v1: lend crvUSD against wstETH") | [![wstETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit "Llamalend v1: lend crvUSD against wstETH") | 3.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50/vault/deposit "Llamalend v1: lend crvUSD against sfrxUSD") | [![sfrxUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD (v1)](https://curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50/vault/deposit "Llamalend v1: lend crvUSD against sfrxUSD") | 2.9% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9/vault/deposit "Llamalend v1: lend crvUSD against sreUSD") | [![sreUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9/vault/deposit "Llamalend v1: lend crvUSD against sreUSD") | 2.7% | | ![Optimism](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![USDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC](https://curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE/vault/deposit "Llamalend v2: lend USDC against WBTC") | [![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE/vault/deposit "Llamalend v2: lend USDC against WBTC") | 2.5% | *Supply returns can include borrower interest and CRV rewards. Markets with any reported bad debt are excluded. Check the live rate and available withdrawal liquidity before supplying.* ### Selected BTC and ETH yields | Chain | Market | Asset | APR | | ------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ---- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![ETH+](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-482/deposit "ETH+/ETH \| 0x2c683fAd51da2cd17793219CC86439C1875c353e") | ETH | 6.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/ethereum/pools/factory-stable-ng-264/deposit "cbBTC/wBTC \| 0x839d6bDeDFF886404A6d7a788ef241e4e28F4802") | BTC | 3.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![ETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.png)ETH![ETHx](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa35b1b31ce002fbf2058d22f30f95d405200a15b.png)ETHx](https://curve.finance/dex/ethereum/pools/factory-v2-338/deposit "Curve.fi Factory Pool: ETHx-ETH \| 0x59Ab5a5b5d617E478a2479B0cAD80DA7e2831492") | ETH | 3.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![hemiBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit "HemiBTC/cbBTC/WBTC \| 0x66039342C66760874047c36943B1e2d8300363BB") | BTC | 2.5% | | ![Monad](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![LBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit "cbBTC/WBTC/LBTC \| 0xD2634E05EbEd90Bd0a6c0E93d48d7bd8036653B1") | BTC | 2.4% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![tETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd11c452fc99cf405034ee446803b6f6c1f6d5ed8.png)tETH![weETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/ethereum/pools/factory-stable-ng-302/deposit "tETH/weETH \| 0x394a1e1b934cb4F4a0dC17BDD592ec078741542F") | ETH | 2.2% | *BTC and ETH pools retain exposure to crypto prices and add token-issuer and relative-price risks; a quoted APR does not protect their dollar value.* ### Other selected yields | Chain | Market | Asset | APR | | ------------------------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![CRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![cvxCRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRVPool 22](https://curve.finance/dex/ethereum/pools/factory-v2-22/deposit "Curve.fi Factory Plain Pool: cvxCRV \| 0x9D0464996170c6B9e75eED71c68B99dDEDf279e8") | CRV | 29.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![CRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![sdCRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/ethereum/pools/factory-v2-300/deposit "Curve.fi Factory Plain Pool: sdCRV/CRV \| 0xCA0253A98D16e9C1e3614caFDA19318EE69772D0") | CRV | 12.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![CRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![cvxCRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRVPool 283](https://curve.finance/dex/ethereum/pools/factory-v2-283/deposit "Curve.fi Factory Plain Pool: cvxCrv/Crv \| 0x971add32Ea87f10bD192671630be3BE8A11b8623") | CRV | 8.3% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![CRV](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit "TriCRV \| 0x4eBdF703948ddCEA3B11f675B4D1Fba9d2414A14") | TRICRYPTO | 5.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![GHO](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![cbBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit "TricryptoGHO \| 0x8a4f252812dFF2A8636E4F7EB249d8FC2E3bd77f") | TRICRYPTO | 4.9% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![crvUSD](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![ZCHF](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit "ZCHF/CRVUSD \| 0x027B40F5917FCd0eac57d7015e120096A5F92ca9") | FOREX | 4.4% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![USDC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![WBTC](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![WETH](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit "TricryptoUSDC \| 0x7F86Bf177Dd4F3494b841a37e810A34dD56c829B") | TRICRYPTO | 3.0% | *CRV, currency and mixed-asset pools carry different price exposures. Their APRs should not be read as interchangeable alternatives to USD yields.* ## Protocol activity and stability The Thursday-noon balances and completed-week activity were mixed: borrowing and indexed trading volume fell, while indexed DEX fees increased. Mint-market debt has since rebounded. Read the peg, debt and liquidity figures together; fee growth alone does not establish market safety. ### crvUSD & scrvUSD | Metric | Value | Weekly change | | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------ | -------------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Mint-market debt | $73.3M | \-3.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD yield (APY) | 3.3% | +1.2 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD assets / mint debt | 21.6% | +0.5 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD oracle price | $0.9998 | \-$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Average borrow APY | 3.6% | +1.0 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper debt | 7.83M crvUSD | \-7.98M crvUSD | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Mint borrowing fees collected | $43.5k | +42.9% | *Weekly changes are recomputed from matched historical observations, not the rounded prior issue. Balance and rate comparisons use Thursday noon UTC; activity covers the seven complete days ending Thursday 00:00 UTC.* PegKeeper debt is crvUSD minted into liquidity pools, not a reserve fund. Average borrow APY is debt-weighted across mint markets; individual market rates differ. For crvUSD holders, [Savings crvUSD (scrvUSD)](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) is a separate earning option from lending or providing liquidity. ### Llamalend | Metric | Value | Weekly change | | ----------------------- | ------ | ------------- | | 🦙Llamalend TVL | $252M | \-2.6% | | 🦙Supplied | $94.3M | +0.6% | | 🦙Borrowed | $142M | \-1.5% | | 🦙Collateral | $226M | \-3.0% | | 🦙Loans | 1,165 | +13 | | 🦙V2 accrued admin fees | $1.63k | \-0.7% | *Totals include lending and crvUSD mint markets; supplied assets are lending-only. The fee row covers accrued admin fees in v2 markets, not fee collections.* ### DEX | Metric | Value | Weekly change | | ---------------------- | ------- | ------------- | | 🔄Indexed volume | $674M | \-13.1% | | 🔄Indexed swaps | 395k | +13.2% | | 🔄Indexed trading fees | $156.0k | +11.4% | *DEX activity covers ten indexed chains and excludes YieldBasis. Unindexed-chain activity and unpriced dollar amounts are omitted; these are not all-chain totals. Pool fees are distinct from DAO revenue, crvUSD minting fees and Llamalend fees.* ### DAO | Metric | Value | Weekly change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------- | ------------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV distribution | $91.3k | +1.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 1.941% | +0.185 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV emissions (weekly gauge allocation) | 1.86M CRV ($586.3k) | \-0.004% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Annual CRV inflation | 4.017% | \-0.003 pp | *Weekly CRV emissions are scheduled gauge allocations, not tokens already claimed. Their weekly change is measured in CRV, not dollars.* ## Governance and protocol updates ### Curve infrastructure is live on Arc [Arc mainnet launched this week](https://www.circle.com/pressroom/circle-launches-arc-mainnet-an-economic-operating-system-for-the-internet) with USDC gas fees. Curve's [pool and gauge factories](https://github.com/curvefi/curve-core/pull/187) are deployed. No pools or gauges had been created through the checked factories, and CRV was not configured in the gauge factory. This expands where pools can be created; it is not yet a live yield opportunity. ### TricryptoUSDC aims for higher earnings, not more volume The [analysis behind the update](https://gov.curve.finance/t/tricryptousdc-parameter-update/11172) makes a deliberate trade-off: higher fees in exchange for lower volume. In simulations, average swap fees rose from about 0.10% to 0.36% and volume fell about 46%, yet total swap fees more than doubled. The goal is higher earnings for LPs and the DAO, not more trading activity. The parameters were tested across multiple BTC and ETH volatility scenarios, but the modeled gains are not guaranteed live returns. For traders, the change means higher swap fees once applied. [Vote 1496](https://curve.finance/dao/ethereum/proposals/1496-ownership/) has been executed and the pool-parameter ramp is underway. The higher fees still need a separate apply transaction after a three-day delay; traders should check the live fee. ### Rewards for veCRV votes Existing veCRV holders can compare rewards for directing CRV emissions on [Votemarket](https://votemarket.stakedao.org/curve). Two selected campaigns offer weekly reward budgets of **40,000 DOLA** for [DOLA/sUSDe](https://votemarket.stakedao.org/curve/gauge/1-0x8f5e52BE9B7BDe850BA13e40284F63f14677058f) and **10,000 USDC** for [OETH/WETH](https://votemarket.stakedao.org/curve/gauge/1-0x36cC1d791704445A5b6b9c36a667e511d4702F3f). These budgets are shared among eligible voters, subject to campaign caps; they are not LP returns. Check the voting deadline, your 10-day vote-change cooldown and claim/bridging costs before reallocating. ## Ecosystem news ### Metronome reports recovery; its synths remain below par [Metronome says it has closed the backing shortfall](https://paragraph.com/@metronomedao/metronome-recovery-update) behind msUSD and msETH. This is the issuer's account, not an independently verified backing assessment. Metronome also says its internal swap remains closed indefinitely. At the checked block, selling one msUSD in the Ethereum frxUSD/msUSD pool returned about 0.920 frxUSD; selling one msETH in the msETH/WETH pool returned about 0.896 WETH, before gas. These are small-trade quotes, not prices guaranteed for larger exits. For holders and LPs, the recovery statement should not be treated as a promise of redemption or a return to par. **Risk information:** [pool risks](https://docs.curve.finance/user/security/risks/pools?ref=news.curve.finance), [lending risks](https://docs.curve.finance/user/security/risks/lending?ref=news.curve.finance) and [crvUSD risks](https://docs.curve.finance/user/security/risks/crvusd?ref=news.curve.finance). ### Curve is live on Arc URL: https://news.curve.finance/curve-is-live-on-arc/ Last updated: 2026-09-17T14:26:10.000Z A stablecoin network needs more than a way to issue and transfer assets. Once different issuers and currencies share the same network, they need liquid markets between them. Curve is now live on [Arc](https://www.arc.io/), Circle’s new Layer 1 built for stablecoin finance and real-world economic activity. Arc uses USDC for transaction fees, reaches deterministic finality in under a second, and connects with Circle infrastructure including CCTP and Gateway. Issuers can now launch efficient, automated pools on Curve that wallets, apps and other protocols can integrate, helping attract traders and liquidity providers. ## Built for onchain FX As stablecoins expand beyond the dollar, pools connecting different currencies need to account for changing exchange rates. A EUR/USD pool behaves differently from one containing two dollar stablecoins, where both assets target the same value. Different currency pairs also have different liquidity and trading patterns. Fees, liquidity concentration and rebalancing incentives therefore need to be tuned for each market. Curve’s [FXSwap](https://news.curve.finance/fxswap/) is designed for these markets. The AMM combines a moving price reference with arbitrage-driven rebalancing, helping the pool adjust where its liquidity is concentrated as prices change, without requiring liquidity providers to reposition it manually. Across five other networks, Curve already supports more than 20 active FX pools spanning 10 currency corridors. For issuers looking to build FX markets on Arc, the Curve team can help with pool design, simulations and parameter tuning before deployment. Get in touch to discuss a pool for your stablecoin. ### What Curve's H1 2026 lending data shows about liquidations under stress URL: https://news.curve.finance/what-curves-h1-2026-lending-data-shows-about-liquidations-under-stress/ Last updated: 2026-09-16T07:44:49.000Z ### **Key Takeaways** The H1 2026 data highlights three broader observations about how DeFi lending behaves during periods of market stress. - **Liquidations are driven by multiple forms of market stress** The first half of 2026 demonstrated that liquidation events are rarely driven by a single catalyst. Market declines, protocol exploits, liquidity shortages, and infrastructure failures each created distinct episodes of stress that affected borrowing markets in different ways. As lending markets become more interconnected, liquidation systems increasingly need to operate reliably across a wider range of scenarios than simple price volatility alone. - **Liquidation Protection give borrowers more time to respond** Curve's data indicates that a borrower’s position does not necessarily close when liquidation begins. Under LLAMMA, loans can remain open while collateral is progressively converted. As prices move through the liquidation range, the direction of these conversions can change. This can rebuild the borrower’s collateral exposure, although it does not necessarily restore the position to its original economic value. During H1, Curve’s lending markets saw 704 Soft Liquidation episodes with a median duration of 14.5 days, illustrating that liquidation can function as an ongoing risk-management process rather than a single irreversible event. - **Borrower outcomes deserve greater attention alongside protocol resilience** Protocol solvency will always remain the primary objective of any lending system. Efficient liquidations protect lenders and reduce bad debt, making them an essential part of DeFi infrastructure. At the same time, borrower experience increasingly deserves consideration as lending markets mature. Metrics such as response time, recovery rates, and the economic cost of managing positions through volatility can complement traditional risk indicators and provide a more complete understanding of liquidation performance. **The findings have also been covered by* [***CoinDesk**](https://www.coindesk.com/tech/2026/09/08/hundreds-of-defi-loans-on-curve-stayed-in-liquidation-for-weeks-without-dying)**, which focused on how long Liquidation Protection can remain active while positions undergo Soft Liquidation, and how those positions can remain open after entering the liquidation range.* --- The first half of 2026 has tested nearly every part of the DeFi lending ecosystem. Falling asset prices, several high-profile security incidents, and infrastructure failures combined to produce repeated periods of market stress, forcing lending protocols to process large waves of liquidations while continuing to protect lenders and maintain solvency. From a protocol perspective, these events demonstrated that modern DeFi lending infrastructure has become increasingly resilient. Liquidation engines continued operating during periods of elevated volatility, helping prevent the accumulation of bad debt even as market conditions deteriorated. Liquidations are typically evaluated through the lens of protocol safety. The primary question is whether unhealthy positions can be closed efficiently before they threaten lenders or the protocol itself. This remains an essential requirement for any lending system. Yet borrowers experience the same events differently. For them, liquidation performance also depends on what happens to their positions after they approach or enter liquidation, and what options remain available before collateral is permanently closed. This distinction has become increasingly relevant as DeFi lending continues to evolve beyond simple collateralized borrowing toward more capital-efficient strategies involving yield-bearing assets, liquidity positions, and increasingly sophisticated collateral structures. Using market-wide data alongside Curve's own lending statistics, this report examines how liquidation systems behaved during H1 2026, considering both protocol resilience and borrower outcomes. ## **Market Stress Put DeFi Lending to the Test** The first quarter of 2026 marked one of the most challenging periods for DeFi lending since the market recovery began in 2024\. Rather than being driven by a single event, stress accumulated through a combination of declining crypto prices, major protocol exploits, liquidity withdrawals, and isolated infrastructure failures that affected multiple lending markets simultaneously. According to Galaxy Research, the value of outstanding crypto-collateralized lending [declined](https://www.galaxy.com/insights/research/crypto-leverage-report-q2-2026-defi-lending-decline-futures-open-interest) by 16.78% during Q2 2026, falling to $56.16 billion. Outstanding loans across DeFi lending applications contracted even more sharply, decreasing by nearly 27.6% over the quarter to $20.4 billion, marking a third consecutive quarter of contraction. Security incidents added further pressure during Q2, triggering more capital outflows. One of the most significant catalysts in this regard was the LayerZero/KelpDAO exploit, which took place in April and had substantial downstream effects across lending markets. Within two weeks of the incident, more than $5.5 billion in stablecoin deposits left Aave, while approximately $3.1 billion in stablecoin borrowing was repaid. The protocol also experienced large withdrawals of wrapped Bitcoin and Ether as participants sought to reduce exposure amid heightened uncertainty. The consequences extended beyond simple declines in total value locked. As liquidity left lending markets, utilization rates rose sharply across major borrowing assets, temporarily making it more difficult for users to access liquidity or unwind positions efficiently. Galaxy's analysis found that WETH utilization remained above 99% for nearly thirteen days following the exploit, illustrating how quickly market-wide stress can constrain normal lending activity even when protocols continue operating as designed. Importantly, not every liquidation event during the period was caused by falling asset prices. In March, a configuration error affecting Aave's risk oracle [resulted](https://finance.yahoo.com/news/aave-liquidates-27m-oracle-glitch-113252143.html) in approximately $27 million of forced liquidations despite relatively stable market conditions. A temporary pricing discrepancy incorrectly identified healthy borrowing positions as undercollateralized, triggering automated liquidations before users had an opportunity to react. Although the protocol later confirmed affected users would be compensated, the incident highlighted another source of liquidation risk that receives comparatively less attention: infrastructure failures can be just as significant as market volatility. Taken together, these events illustrate three distinct categories of stress that increasingly shape DeFi lending markets: - broad market declines that reduce collateral values; - infrastructure failures, including oracle or pricing incidents; - protocol-specific events that trigger sudden changes in liquidity conditions. Each presents different operational challenges, but all ultimately test the same underlying question: how effectively lending protocols manage positions as borrowers approach liquidation. ## **Liquidation Efficiency Is Only Part of the Question** For any lending protocol, reliable liquidations are a fundamental safety mechanism. When collateral values decline, unhealthy positions must be resolved quickly enough to prevent losses from spreading to lenders or creating protocol-level bad debt. Without an effective liquidation process, lending markets become increasingly fragile during periods of volatility, ultimately reducing confidence in the protocol itself. Recent analysis published by Aave illustrates this point well. The protocol highlighted its ability to process approximately $4.6 billion in historical liquidations while maintaining protocol solvency and protecting suppliers. From a risk management perspective, this represents an important measure of operational resilience rather than simply a record of liquidation activity. Efficient execution remains one of the core responsibilities of any lending protocol. Yet protocol resilience and borrower outcomes are not necessarily the same thing. A liquidation that executes exactly as intended may represent a successful outcome for lenders while still imposing significant costs on borrowers. Once a position crosses its liquidation threshold, users often have limited opportunity to respond before collateral is sold. During periods of elevated volatility or network congestion, that window can become even narrower. This distinction suggests that liquidation architecture should be evaluated using more than a single measure of efficiency. Four dimensions are particularly relevant: - **Protocol solvency and bad debt:** whether liquidations resolve unhealthy positions before losses threaten lenders or the protocol. - **Execution reliability:** whether the liquidation mechanism continues to operate effectively during periods of volatility, liquidity stress, or infrastructure disruption. - **Time and options available to borrowers:** how positions evolve after entering liquidation and what opportunities borrowers retain to repay debt, add collateral, or otherwise manage their position as market conditions change. - **Borrower costs:** the economic impact of liquidation, including collateral losses, liquidation penalties, fees, and other costs associated with resolving or recovering a position. Together, these measures provide a broader framework for assessing liquidation performance from both the protocol and borrower perspectives. These considerations become increasingly relevant as DeFi lending expands beyond simple borrowing against passive collateral. Yield-bearing assets, liquidity provider positions, and other productive forms of collateral allow capital to remain active while securing loans, but they also introduce more dynamic risk profiles. ## **What Curve's Data Shows** This discussion becomes all the more meaningful when viewed through the actual borrower perspective and their results. This is where Curve’s data provides an important lens. Curve's lending system is built around LLAMMA, whose Liquidation Protection replaces the traditional liquidation cliff with a liquidation range. Typically, in lending protocols, once a position crosses the liquidation threshold, collateral is seized, and the transfer is final. LLAMMA provides this protection through Soft Liquidation, a transitional stage before a position reaches Hard Liquidation. As prices move through predefined liquidation bands, collateral is progressively converted into the borrowed stable asset while the loan remains open. 0:00 /0:28 1× How the collateral composition of LLAMMA bands changes based on the collateral price. Importantly, LLAMMA’s Liquidation Protection does not eliminate liquidation risk or guarantee a particular outcome. Instead, Soft Liquidation replaces what is usually an immediate binary outcome with a process that can give borrowers more time and flexibility to respond while their position remains active. Conversions within the liquidation range are not lossless, and Liquidation Protection does not guarantee that Hard Liquidation will be avoided. Observations collected across Curve's lending markets in H1 2026 show how Liquidation Protection works in practice through Soft Liquidation.. A third-party tracker [recorded](https://nikcrv.github.io/curve-liquidations-protect-dashboard/) 704 episodes in which this protection was active, involving 602 unique borrower addresses. Of these, 476 episodes began during H1 itself, affecting 402 borrower addresses and representing approximately $69.8 million in episode-level collateral exposure. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/09/data-src-image-8c4a0f01-ad63-4f67-a106-2c6255bf7fcb.png) This data also shows that the duration of Liquidation Protection varied considerably across Soft Liquidation episodes: while the largest share of observed episodes lasted between one and seven days, a substantial number of positions remained under protection within the liquidation range for several weeks or even months. The median observed duration was 14.5 days, while the 75th percentile reached 38.9 days. Moreover, many of the longest-running episodes were still active when the dataset was captured, indicating that their final duration would ultimately be longer. All of this ultimately points to the fact that many borrowers’ positions remained within the liquidation range for highly prolonged periods rather than immediately progressing to a final outcome. To validate these observations, the Curve team independently reviewed 12 high-value Soft Liquidation episodes representing $15.2 million of tracked collateral exposure. In every case, the analysis confirmed that collateral was actively converted within LLAMMA, supporting the conclusion that the data reflected genuine Soft Liquidation activity. ## **How Liquidation Mechanisms Differ** Liquidation mechanisms differ across major DeFi lending protocols, particularly in how positions are resolved once they become eligible for liquidation. | **Protocol** | **Liquidation mechanism** | **What happens to the borrower’s position** | | -------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | Aave V3 | When the health factor falls below 1, a liquidator repays part or all of the eligible debt and receives collateral plus a liquidation bonus. | Collateral transferred in an executed liquidation cannot be recovered. In the case of a partial liquidation, the remaining position stays open. | | Compound III | When an account is eligible for liquidation, the protocol absorbs the debt using its own reserves and the collateral is transferred to the protocol. The borrower receives the collateral's base-asset value, less the liquidation penalty. | The original collateral is not restored after absorption. Any remaining value is held in the base asset. | | Curve / LLAMMA | Entering the liquidation range activates Liquidation Protection through Soft Liquidation, progressively converting collateral while the loan remains open. | While Liquidation Protection remains active, the borrower retains time to repay or otherwise manage the position, while conversions can occur in either direction as prices move through the liquidation range. | Liquidation design continues to evolve across the sector: Aave V4, for example, is introducing a more granular partial-liquidation mechanism, illustrating how major lending protocols are developing different approaches to resolving unhealthy positions. At the same time, Liquidation Protection through **Soft Liquidation should not be interpreted as a lossless process or a guarantee that Hard Liquidation will be avoided**. Borrowers may still incur AMM fees, conversion and rebalancing losses, accrued interest, path-dependent effects, or eventually reach Hard Liquidation. Price movements can also change the direction of conversions without restoring the original economic value of a position. 0:00 /0:28 1× This loan continuously entered and exited liquidation protection and stayed in it for quite some time (around 4 hours). The user constantly monitored its health and repaid some debt as soon as health got closer to 0. 0:00 /0:05 1× This liquidation occurred during an extremely volatile market event. Liquidation Protection gave the user around 40 minutes (200 blocks) to act before the position was Hard Liquidated. Taken together, the data suggests that liquidation performance can be evaluated using more than a single end-state metric. Instead of treating liquidation as a single irreversible event, LLAMMA introduces a liquidation range in which positions can continue evolving as borrowers respond to changing market conditions. That additional dimension of “time” provides another way of assessing how liquidation mechanisms function during periods of market stress. Dive into the inner workings of Liquidation Protection [Go to Curve Docs ](https://docs.curve.finance/user/llamalend/liquidation-protection/how-it-works) ## **Conclusion** The first half of 2026 demonstrated that liquidation systems must remain resilient across different forms of market stress, from price volatility and liquidity shocks to security incidents and infrastructure failures. While efficient liquidations are still essential to maintaining protocol solvency and protecting lenders, as DeFi lending continues to mature, protocol safety alone is no longer sufficient to evaluate the quality of a liquidation system. Curve's H1 2026 data reinforces this perspective by showing that Liquidation Protection can turn liquidation into a process rather than a single event, and that protocol design can influence how positions evolve before they reach their final outcome. Under LLAMMA, borrowers entering the liquidation range receive this protection through Soft Liquidation: they retain time to respond while collateral is progressively converted, with conversions able to change direction as prices move through the liquidation range. This can restore collateral exposure, but does not mean the Soft Liquidation process itself was lossless. This demonstrates that liquidation design affects not only protocol safety, but also how positions evolve during periods of market stress. This approach is also what lies at the basis of the next stage Curve has taken in expanding its lending infrastructure. With the recent launch of [Llamalend V2](https://cryptobriefing.com/curve-llamalend-v2-optimism-launch/), Curve’s focus now extends beyond liquidation protection alone and toward creating lending markets that are more flexible and capital efficient. Support for productive collateral such as LP tokens, isolated markets with market-specific risk management, and more flexible collateral and borrow asset combinations are designed to bring lending and liquidity provision closer together while enabling users to put capital to work more efficiently. As DeFi lending evolves, protocols will increasingly be evaluated not only by how effectively they liquidate positions, but by how they help users manage risk before liquidation becomes unavoidable. Improving capital efficiency, expanding the range of productive collateral, and designing liquidation mechanisms that better accommodate periods of market stress are all part of that progression. Borrow now with LLAMMA [Go to Llamalend markets ](https://www.curve.finance/llamalend/) ### Curve Best Yields & Key Metrics | Week 37, 2026 URL: https://news.curve.finance/curve-best-yields-week-37-2026/ Last updated: 2026-09-10T20:08:09.000Z ## Curve this week in 60 seconds - Top pool APYs: sUSG/reUSD at **21.5%**, OUSD/USG at **18.1%**, and MUSD/USDC/USDT at **17.9%**. - **Yield quality:** the leading rates are mostly incentive-driven. Trading fees supply 8.5 of sUSG/reUSD’s 21.5 percentage points, the most of the top three; further down the table sUSDx/USDx at **11.0%** is the one pool paid by fees alone. - **Lending:** the highest listed supply rates are **7.9%** for crvUSD/CRV and **6.5%** for crvUSD/svZCHF. - **Protocol:** crvUSD held its peg at **$0.9996** with $75.8 million minted, while PegKeeper reserves fell to $15.8 million. - **Governance:** the YieldBasis BTC fee change is finished — all three pools now charge one flat rate. > **This week's takeaway:** PegKeeper reserves fell for a second week and now sit in a single PegKeeper, while crvUSD stayed at $0.9996 and minting kept growing. That measure moves in wide swings — it was at zero on 2 July and back to $33.8 million a week later. ## Top yields *Rates are estimated annualized returns after modeling how a $100,000 deposit would affect each pool. They include trading fees, CRV at the unboosted rate and active Merkl rewards where applicable. Rates are variable and not guaranteed.* ### Top USD yields | Chain | Market | Type | Est. APY | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf17d6f98a5c6eaa99d149079984119e0a4ef6900.png)sUSG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5086bf358635b81d8c47c66d1c8b9e567db70c72.png)reUSD (Re Protocol)](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit) | Pool | 21.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-975/deposit) | Pool | 18.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-518/deposit) | Pool | 17.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-1015/deposit) | Pool | 11.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeb892628d1e58bc475a6dcb7f5dbc4f591632aa4.png)sUSDx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa1fa7777974312f7d801a8880714a218f76233f8.png)USDx](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-1052/deposit) | Pool | 11.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply USD)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-413/deposit) | Pool | 10.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xc38173d34afaea88bc482813b3cd267bc8a1ea83.png)FXB20551231](https://www.curve.finance/dex/fraxtal/pools/factory-stable-ng-24/deposit) | Pool | 9.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply USD)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-393/deposit) | Pool | 8.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-895/deposit) | Pool | 8.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply USD)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-392/deposit) | Pool | 8.2% | Two unrelated assets in this table share the reUSD ticker: Re Protocol’s reUSD and Resupply USD. **What supports the leading rates:* the leading USD pool yields are mostly incentive-driven, so they can fall when rewards change. Trading fees supply 8.5 of sUSG/reUSD’s 21.5 percentage points, the most of the three; for OUSD/USG and MUSD/USDC/USDT the fee share is under half a percentage point, and the MUSD/USDC/USDT rate rests on a live Merkl campaign that ends on its own schedule. MUSD here is Mezo USD. Several leading pools also have relatively low TVL, making their returns more sensitive to new deposits and changes in incentives: $0.21 million for OUSD/USG, $0.65 million for MUSD/USDC/USDT and $1.08 million for sUSG/reUSD, against $2.00 million for sUSDx/USDx — the one rate in the table with no incentive behind it at all.* ### Top Llamalend supply yields | Chain | Market | Supply APY | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x11cdb42b0eb46d95f990bedd4695a6e3fa034978.png)CRV](https://www.curve.finance/lend/arbitrum/markets/0x88f88e937Db48bBfe8E3091718576430704e47Ab/vault/deposit) | 7.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe5f130253ff137f9917c0107659a4c5262abf6b0.png)svZCHF](https://www.curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit) | 6.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit) | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit) | 4.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit) | 4.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://www.curve.finance/lend/arbitrum/markets/0xB5c6082d3307088C98dA8D79991501E113e6365d/vault/deposit) | 4.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://www.curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05/vault/deposit) | 4.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://www.curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit) | 4.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617/vault/deposit) | 3.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit) | 3.1% | ### Top BTC and ETH yields | Chain | Market | Asset | Est. APY | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa35b1b31ce002fbf2058d22f30f95d405200a15b.png)ETHx](https://www.curve.finance/dex/ethereum/pools/factory-v2-338/deposit) | ETH | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-303/deposit) | ETH | 2.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000006.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://www.curve.finance/dex/fraxtal/pools/factory-stable-ng-6/deposit) | ETH | 2.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-264/deposit) | BTC | 1.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 1.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://www.curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 1.1% | ### Other top yields | Chain | Market | Asset | Est. APY | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-300/deposit) | CRV | 10.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-283/deposit) | CRV | 9.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 4.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 4.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 2.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x2a22f9c3b484c3629090feed35f17ff8f88f76f0.png)USDC.e![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x420ca0f9b9b604ce0fd9c18ef134c705e5fa3430.png)EURe (Monerium)](https://www.curve.finance/dex/gnosis/pools/factory-twocrypto-29/deposit) | FOREX | 1.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.2% | ## Protocol activity and stability crvUSD remained close to peg at $0.9996\. Minting rose 4.1% to $75.8 million and Llamalend borrowing rose 4.8% to $144 million, while PegKeeper reserves fell by $26.4 million to $15.8 million. That fall is the mechanism working rather than failing: with crvUSD a fraction below a dollar, the crvUSD/USDT PegKeeper pulled its own crvUSD back out of that pool, which is also why crvUSD/USDT shows the second-largest TVL drop of the week. Four of the five PegKeepers now hold nothing at all. DEX TVL, volume, swaps and fees fell as well, but those measure activity rather than protocol solvency. ### crvUSD & scrvUSD | Metric | Value | Weekly change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $75.8M | +4.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 2.2% | +1.3 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 21.1% | \-0.6 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9996 | \-$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Average borrow rate | 2.6% | +0.8 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $15.8M | \-$26.4M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $1.35k | \-$3.24k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Fees | $31.5k | +59.7% | ### Llamalend | Metric | Value | Weekly change | | ---------------- | ------ | ------------- | | 🦙 Llamalend TVL | $259M | +3.1% | | 🦙 Supplied | $93.7M | +1.8% | | 🦙 Borrowed | $144M | +4.8% | | 🦙 Collateral | $233M | +4.4% | | 🦙 Loans | 1147 | +7 | | 🦙 Fees | $1.62k | +14.7% | ### DEX | Metric | Value | Weekly change | | ------------- | ------ | ------------- | | 🔄 TVL | $1.43B | \-3.8% | | 🔄 Volume | $776M | \-1.7% | | 🔄 Swaps | 353k | \-6.7% | | 🔄 Total Fees | $140k | \-23.7% | *Fees here are DEX pool fees only; crvUSD minting fees and Llamalend fees appear in their own sections.* ### DAO | Metric | Value | Weekly change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | ------------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.56B | +0.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 850M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 780M | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $88.5k | \-6.6% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 1.762% | +0.018 pp | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $686k (1.86M CRV) | \-5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.023% | \-0.765 pp | ## Governance and protocol updates ### YieldBasis BTC pools now charge one flat fee [Vote 1494](https://www.curve.finance/dao/ethereum/proposals/1494-ownership/) executed on 7 September, setting a single 1.30% swap fee on the YieldBasis wBTC, cbBTC and tBTC pools. It finishes the retuning that [vote 1491](https://www.curve.finance/dao/ethereum/proposals/1491-ownership/) began on 29 August, and which last week’s issue reported as still being voted on. The swap fee is what a trader pays and what liquidity providers earn. Until now it was not one number in these pools: it sat low while the pool was balanced and rose sharply as the pool drifted, so trades that unbalanced a pool paid much more. That is gone. A trade now costs the same whatever state the pool is in, which makes the cost predictable for traders and removes the extra payment providers used to collect from unbalancing trades. All three BTC pools had been put on the two-tier fee in August, wBTC by vote 1486 on the 17th and the other two by vote 1491 on the 29th; this vote undoes that for all of them at once. Measured on chain after execution, all three pools read the same in both states: 1.30% balanced and 1.30% out of balance, against 1.28% and 3.28% before. The vote also retunes the policy layer that adjusts leverage — an 8 bp deadband and a 12–54 bp dynamic cap, in the DAO’s own wording; those parameters are quoted from the proposal, not measured here. ## Explore Curve - [Explore DEX markets](https://www.curve.finance/dex/ethereum/pools?ref=news.curve.finance) - [Explore lending markets](https://www.curve.finance/lend/ethereum/markets?ref=news.curve.finance) - [Explore Savings crvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) **Know someone tracking DeFi yields?** Forward them this issue. **Risk information:** [pool risks](https://docs.curve.finance/user/security/risks/pools?ref=news.curve.finance), [lending risks](https://docs.curve.finance/user/security/risks/lending?ref=news.curve.finance) and [crvUSD risks](https://docs.curve.finance/user/security/risks/crvusd?ref=news.curve.finance). ### Curve Monthly Recap August 2026 URL: https://news.curve.finance/curve-monthly-recap-august-2026/ Last updated: 2026-09-07T09:22:45.000Z ## Key highlights of August - crvUSD's monetary mechanism completed a full cycle: PegKeeper supply expanded, minting got cheaper at 1.55%, borrowers minted, and PegKeepers returned most of the temporary supply - Borrower-minted crvUSD grew 97% to $72.2M, backed by $146.4M in collateral. A single wstETH position accounted for over half of the growth - [Llamalend](https://www.curve.finance/llamalend/ethereum/markets/) V2 added svZCHF as its first Swiss-franc collateral, while the sreUSD market's crvUSD cap doubled to $30 million. Both svZCHF and sreUSD continue earning yield while used as collateral - yRisk was selected as the DAO's risk provider in August, and the vote funding the mandate executed on 2 September ## crvUSD borrowing grows as interest rates fall Borrower-minted crvUSD grew from $36.7M to $72.2M in August, a 97% increase. Most of that growth came late in the month, after PegKeepers had expanded supply and minting had become cheaper. [PegKeepers](https://www.curve.finance/crvusd/ethereum/psr) add crvUSD when their pools have too little of it relative to the paired stablecoin, as low supply creates upward pressure on its price. By supplying crvUSD, they help rebalance the pools and keep trading close to the dollar peg. In August, a temporary surge in demand pulled significant amounts of crvUSD from the stable pools, with YieldBasis-related trading accounting for a large share of the observed flows. PegKeeper debt consequently increased from $33.75M on 18 August to $108.2M on 24 August. That expansion helped reduce borrowing costs for crvUSD. PegKeeper debt feeds into the [rate model](https://docs.curve.finance/crvUSD/monetarypolicy/), which lowers minting rates as the PegKeeper debt share increases, encouraging borrowers to add collateral-backed crvUSD supply. Borrower minting increased sharply on 25 August. Over the following days, PegKeepers withdrew part of their temporary supply, ending the month with $42.2M outstanding. The debt-weighted average mint-market borrow rate closed August at 1.55%, compared with 1.98% at the end of July. A single [wstETH](https://www.curve.finance/crvusd/ethereum/markets/wstETH)\-backed position opened on 25 August accounted for $20.0M of the $35.5M net increase, or around 56%. At month-end, total borrowing against wstETH and [WBTC](https://www.curve.finance/crvusd/ethereum/markets/WBTC) stood at $32.9M and $24.4M respectively. Collateral backing borrower-minted crvUSD also increased 108% to $146.4M, bringing the aggregate collateral-to-debt ratio from roughly 1.92x to 2.03x. Hourly crvUSD prices averaged $0.99991 and ranged from $0.99966 to $1.00061, staying within 6.1 basis points of the dollar peg across those observations. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/09/aug26_supply_pk.png) Borrower-minted crvUSD and PegKeeper debt comparison during August 2026\. PegKeeper debt peaked at $108.2M on 24 August before falling to $42.2M, while borrower-minted crvUSD rose to $72.2M. > 100M in PegKeepers. Mint borrow rates on LlamaLend are about to go down [pic.twitter.com/2e5jXPgrUJ](https://t.co/2e5jXPgrUJ) > > — Curve Finance (@CurveFinance) [August 22, 2026](https://x.com/CurveFinance/status/2091031015351312709?ref%5Fsrc=twsrc%5Etfw) ## Llamalend V2: borrowing against productive collateral Llamalend V2 continued to grow in August, with more capacity to borrow against yield-bearing assets. These markets let users keep earning on their collateral while borrowing crvUSD to increase their exposure through leveraged yield farming. Borrowers can also use the funds elsewhere without selling the asset. The [svZCHF/crvUSD market](https://www.curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043) opened on [12 August](https://www.curve.finance/dao/ethereum/proposals/1474-ownership) with a 500K crvUSD borrow cap, introducing Swiss-franc-denominated collateral to Llamalend. svZCHF is [Frankencoin](https://frankencoin.com)’s savings token and earns the Swiss franc savings rate while posted as collateral. Holders can borrow crvUSD to buy more svZCHF or use the funds elsewhere while retaining their Swiss-franc position. The [sreUSD market](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9)’s crvUSD borrow cap doubled from $15M to $30M on [17 August](https://www.curve.finance/dao/ethereum/proposals/1475-ownership). sreUSD is [Resupply](https://resupply.finance)’s yield-bearing savings token for reUSD. The higher cap creates more borrowing capacity for users holding sreUSD as collateral. In a [1 September update](https://x.com/ResupplyFi/status/2094790183971381652), Resupply explained how these markets can be combined for leveraged yield farming. Users lend crvUSD into supported Llamalend V2 markets, including sDOLA, sfrxUSD and syrupUSDC, and use the resulting lending position as collateral on Resupply to borrow reUSD. The position continues to earn lending yield and incentives. The borrowed reUSD can then be deposited into sreUSD, which can be used as collateral on Llamalend to borrow crvUSD. That crvUSD can fund another lending deposit, allowing the process to repeat. [Convex](https://www.convexfinance.com) is directing incentives towards these Resupply-related Llamalend markets. On the Llamalend side of these strategies, LLAMMA gradually converts collateral into the borrowed asset as its price enters the loan’s liquidation range. It can convert that asset back into collateral if prices recover. Soft-liquidation losses and hard liquidation remain possible, and each additional loop increases leverage. Across all Llamalend V2 markets, borrowing rose 45% to $65.2M during the month, with collateral up 49% to $79.3M. ## Annual CRV emissions now below 100 million CRV entered epoch 6 on 12 August, six years after the token launched. The [scheduled 15.9% emission reduction](https://news.curve.finance/crv-emission/) brings annual issuance to approximately 97.2M CRV, compared with 115.5M in the previous epoch. Annual emissions are now below 100M for the first time. That means roughly 18.4M fewer CRV will be issued over the coming year, with annual issuance equivalent to 4.03% of total supply, compared with 4.80% previously. CRV’s fixed emission schedule reduces the rate each year, halving it every four years. The reduction does not require a governance vote. Once an epoch ends, anyone can trigger the scheduled update through the token contract. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/09/aug26_emissions.png) Bar chart showing annual CRV emissions falling across seven epochs, from 274.8M CRV in 2020–21 to 97.2M CRV in epoch 6 for 2026–27. > Emissions are now below 100M CRV per year. > Happy 6th birthday CRV! [pic.twitter.com/Pwm8N99pkI](https://t.co/Pwm8N99pkI) > > — Curve Finance (@CurveFinance) [August 13, 2026](https://x.com/CurveFinance/status/2087956681888092610?ref%5Fsrc=twsrc%5Etfw) ## Brazilian and Argentine FX markets launch on Curve [Twin Finance](https://www.twin.finance)'s Latin American FX markets went live on Curve on Arbitrum, starting with [BRAt](https://www.curve.finance/dex/arbitrum/pools/0xEef48Df5F1c509cD9730774b4e8A4464626ef8D5) and [ARGt](https://www.curve.finance/dex/arbitrum/pools/0x356D349dA9ADd7Efb56a35fAB939A2c6D852f853), putting Brazilian and Argentine spot FX onchain. > Introducing FX LatAm markets on [@arbitrum](https://x.com/arbitrum?ref%5Fsrc=twsrc%5Etfw) > > Access [@twinfinance\_](https://x.com/twinfinance%5F?ref%5Fsrc=twsrc%5Etfw) stablecoin markets through [@CurveFinance](https://x.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw). > > Starting with BRAt 🇧🇷 and ARGt 🇦🇷, with more coming soon. > > Anyone, anywhere can now access the region’s spot FX and credit markets, fully onchain. [pic.twitter.com/X8fdHL23Bw](https://t.co/X8fdHL23Bw) > > — DAMM Capital (@DAMM\_Capital) [August 27, 2026](https://x.com/DAMM%5FCapital/status/2092990832421093607?ref%5Fsrc=twsrc%5Etfw) As FX pairs behave differently from crypto pairs, it is recommended to tune parameters for each market ahead of deployment, particularly around fees and liquidity concentration. Curve contributors can support partners with this calibration to help ensure pools are configured appropriately for the characteristics of the underlying market. ## Governance: yRisk selected as risk provider Curve DAO selected [yRisk](https://gov.curve.finance/t/yrisk-automation-first-risk-provider-for-curve/11134) as its primary risk provider for crvUSD and Llamalend in August. Its proposal received 537M veCRV in favour and no votes against. The team includes core contributors to Yearn and Resupply, with experience developing and operating Curve and Llamalend integrations. yRisk will assess new markets and monitor existing ones, with automated alerts, parameter recommendations and incident support. The mandate covers crvUSD mint markets, PegKeepers and Llamalend isolated markets, supported by public methodologies and open-source tooling. This adds another layer of risk oversight, but does not make individual markets risk-free or guarantee that losses cannot occur. Curve governance and the eDAO remain responsible for decisions and execution within their respective roles. The [funding vote](https://www.curve.finance/dao/ethereum/proposals/1492-ownership) was executed shortly after month-end, on 2 September. It funds a one-year mandate through two revocable streams: 125,000 frxUSD held in sfrxUSD and 568,181 CRV. Any additional funded scope would require separate DAO approval. Separately, Swiss Stake published its [H1 2026 progress report](https://gov.curve.finance/t/h1-2026-progress-report-curve-ecosystem-grant/11161) in August, covering work under the Curve ecosystem grant. The report confirmed plans to submit a governance proposal to increase the DAO’s share of protocol fees from 10% to 30%. ## Around the ecosystem - [Inverse Finance](https://www.inverse.finance) opened FiRM markets taking reUSD/sDOLA Curve LP tokens as collateral, so an LP can borrow against a position that is still earning Curve trading fees - [Zerion](https://zerion.io) shipped an AI-assisted withdrawal flow for Curve positions, with the user reviewing and signing every transaction, which gives Curve LPs an exit route outside the Curve front end - [Convex](https://www.convexfinance.com) moved DAO proposals and gauge votes fully onchain, so the vlCVX bloc that directs a large share of CRV emissions now votes onchain rather than off it - Curve received an AA grade and a score of 52.94 in the [inaugural Universal Token Ratings cohort](https://x.com/CurveFinance/status/2092901455808122984). The DefiLlama and Forgd initiative evaluates project disclosures and live market data. - Upbit added CRV/KRW and CRV/USDT trading pairs. Another notable event occurred on 1 September, with [YieldBasis](https://yieldbasis.com) raising the deposit caps on its two largest BTC markets from approximately $32M and $43.5M to $50M each, adding roughly $24.5M of deposit capacity. Both markets had been at their caps before the increase. At 2x leverage, each $50M deposit cap corresponds to a $100M crvUSD allocation. The increases therefore allocated approximately $49M more crvUSD from YieldBasis’s existing factory reserve to the two markets, about $36M for one and $13M for the other. ## The month in numbers DEX TVL ended August at **$1.45B**, up **6.3%**. Pools processed **$3.19B** in volume and generated **$3.04M** in gross trading fees, **2.8%** more than in July. Four weekly distributions paid approximately **$367K** to veCRV holders, and CRV locked in Voting Escrow held near **850.2M**. ## What to watch for next month More Llamalend V2 markets and further FX pilots are expected, with yRisk now assessing proposed markets and recommending parameters for the DAO to vote on. The numbers to watch are whether borrower-minted crvUSD holds at its new level, and whether the newer collateral markets draw borrowers rather than just sit on capacity. crvUSD supply and the peg will also move with PegKeeper activity and demand from YieldBasis, alongside wider market conditions. ### Curve Best Yields & Key Metrics | Week 36, 2026 URL: https://news.curve.finance/curve-best-yields-week-36-2026/ Last updated: 2026-09-03T19:48:09.000Z ## Curve this week in 60 seconds - Top pool APYs: sUSG/reUSD at **23.6%**, OUSD/USG at **18.8%**, and reUSD/sDOLA at **15.3%**. - **Yield quality:** leading rates are mostly incentive-driven. sUSG/reUSD has the largest fee contribution, with 9.2 percentage points coming from trading fees. - **Lending:** the highest listed supply rates are **7.0%** for crvUSD/svZCHF and **5.1%** for crvUSD/sDOLA. - **Protocol:** crvUSD held its peg at **$0.9997** with $72.8 million minted, while PegKeeper reserves fell to $42.2 million. - **Governance:** the yRisk mandate is now funded, and a second vote on YieldBasis BTC pool fees is open. > **This week's takeaway:** crvUSD minting expanded while PegKeeper reserves declined, but crvUSD remained close to peg at $0.9997\. Whether reserves rebuild as minting continues is the stability metric to watch next week. ## Top yields *Rates are estimated annualized returns for a modeled $100,000 deposit after pool dilution. They include base fees, unboosted CRV and active Merkl rewards where applicable. Rates are variable and not guaranteed.* ### Top USD yields | Chain | Market | Type | Est. APY | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf17d6f98a5c6eaa99d149079984119e0a4ef6900.png)sUSG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5086bf358635b81d8c47c66d1c8b9e567db70c72.png)reUSD (Re Protocol)](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit) | Pool | 23.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-975/deposit) | Pool | 18.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply USD)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-413/deposit) | Pool | 15.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xc38173d34afaea88bc482813b3cd267bc8a1ea83.png)FXB20551231](https://www.curve.finance/dex/fraxtal/pools/factory-stable-ng-24/deposit) | Pool | 10.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply USD)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-392/deposit) | Pool | 10.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-794/deposit) | Pool | 9.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-895/deposit) | Pool | 9.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-704/deposit) | Pool | 9.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply USD)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-393/deposit) | Pool | 9.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-365/deposit) | Pool | 8.5% | **What supports the leading rates:* the leading USD pool yields are mostly incentive-driven, so they can fall when rewards change. sUSG/reUSD has the largest fee contribution, with 9.2 percentage points coming from trading fees. Several leading pools also have relatively low TVL, making their returns more sensitive to new deposits and changes in incentives: $0.23 million for OUSD/USG, $1.04 million for sUSG/reUSD and $3.22 million for reUSD/sDOLA, against $11.68 million for reUSD/scrvUSD.* ### Top LlamaLend supply yields | Chain | Market | Supply APY | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe5f130253ff137f9917c0107659a4c5262abf6b0.png)svZCHF](https://www.curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit) | 7.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit) | 5.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit) | 4.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit) | 4.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA/vault/deposit) | 4.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE/vault/deposit) | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://www.curve.finance/lend/arbitrum/markets/0xB5c6082d3307088C98dA8D79991501E113e6365d/vault/deposit) | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://www.curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit) | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://www.curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05/vault/deposit) | 4.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit) | 4.0% | ### Top BTC and ETH yields | Chain | Market | Asset | Est. APY | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa35b1b31ce002fbf2058d22f30f95d405200a15b.png)ETHx](https://www.curve.finance/dex/ethereum/pools/factory-v2-338/deposit) | ETH | 5.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000006.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://www.curve.finance/dex/fraxtal/pools/factory-stable-ng-6/deposit) | ETH | 2.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 2.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-264/deposit) | BTC | 2.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf1c9acdc66974dfb6decb12aa385b9cd01190e38.png)osETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae78736cd615f374d3085123a210448e74fc6393.png)rETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-15/deposit) | ETH | 2.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://www.curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 1.5% | ### Other top yields | Chain | Market | Asset | Est. APY | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-283/deposit) | CRV | 12.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-300/deposit) | CRV | 10.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 4.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 3.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe (Monerium EUR)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 2.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.1% | ## Protocol activity and stability crvUSD remained close to peg at $0.9997\. Minting rose 9.8% and LlamaLend borrowing increased 4.8%, while PegKeeper reserves fell by $22.8 million to $42.2 million. DEX TVL, volume, swaps and fees also declined, but these measure activity rather than protocol solvency. ### crvUSD & scrvUSD | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $72.8M | +9.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 0.8% | \-0.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 21.7% | \-4.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9997 | \-$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 1.8% | +0.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $42.2M | \-$22.8M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $4.59k | \-$5.13k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Fees | $19.7k | +62.2% | ### LlamaLend | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $251M | +3.2% | | 🦙 Supplied | $92M | +0.1% | | 🦙 Borrowed | $138M | +4.8% | | 🦙 Collateral | $223M | +3.4% | | 🦙 Loans | 1140 | +16 | | 🦙 Fees | $1.42k | +24.7% | ### DEX | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.48B | \-3.9% | | 🔄 Volume | $790M | \-28.4% | | 🔄 Swaps | 379k | \-38.7% | | 🔄 Total Fees | $183k | \-47.2% | *Fees here are DEX pool fees only; crvUSD minting fees and LlamaLend fees appear in their own sections.* ### DAO | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.55B | +0.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 850M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 780M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $94.7k | \-10.0% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 1.744% | \-0.467% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $610k (1.86M CRV) | \-13.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.026% | \-0.765% | ## Governance and protocol updates ### The yRisk risk mandate is now active and funded [Vote 1492](https://www.curve.finance/dao/ethereum/proposals/1492-ownership/) executed on 2 September, activating and funding yRisk’s one-year risk-assessment mandate for LlamaLend. Led by contributors to Yearn and Resupply, yRisk will monitor collateral, oracles, liquidity and market parameters, providing alerts and recommendations as conditions change. The mandate is revocable by the DAO. It is paid as two revocable one-year vesting streams to yrisk.eth — 125,000 frxUSD held as sfrxUSD, and 568,181 CRV — with the sfrxUSD yield returning to the Curve treasury. ### YieldBasis BTC fees: one update executed, another open [Vote 1491](https://www.curve.finance/dao/ethereum/proposals/1491-ownership/) executed on 29 August, changing how the swap fee behaves on the yb-cbBTC and yb-tBTC pools: cheaper when the pool is balanced, considerably more expensive when it is not, and reaching that higher level sooner. [Vote 1494](https://www.curve.finance/dao/ethereum/proposals/1494-ownership/), submitted on 31 August, is still open; it would replace that behaviour with a single flat fee of 1.30% across the YieldBasis wBTC, cbBTC and tBTC pools, and change how often each pool rebalances. The swap fee is what a trader pays and what liquidity providers earn. In these pools it is not one number: it sits low while the pool is balanced and rises as the pool drifts, which pays providers more for the trades that unbalance them. After the August change a balanced trade costs less than before and an unbalancing one costs much more. The open vote would drop that mechanism entirely and charge one flat rate whatever the pool state, making the cost of a trade predictable and removing the extra reward for trades that restore balance. Measured on chain for both pools: the balanced-pool fee went from 1.46% to 1.28%, the out-of-balance fee from 1.70% to 3.28%, and the fee now climbs toward that ceiling roughly twice as quickly. The open vote proposes a flat 1.30%. ### A slower price average for two sDOLA pools [Vote 1493](https://www.curve.finance/dao/ethereum/proposals/1493-ownership/) executed on 2 September, lengthening the price-averaging window on the scrvUSD/sDOLA and sDOLA/invUSD pools from about 14 minutes to one hour. A Curve pool does not price its assets off the last trade alone; it uses a time-weighted average, so a single large trade cannot move the quoted price on its own. A longer window makes that average react more slowly — steadier pricing in a thin market, at the cost of lagging a genuine move for longer. Measured on chain: ma\_exp\_time went from 866 seconds to 3,600 on both pools. ### Two gauges added, for two different purposes [Vote 1488](https://www.curve.finance/dao/ethereum/proposals/1488-ownership/) executed on 31 August, adding a gauge for the frxUSD/sUSDai pool. [Vote 1489](https://www.curve.finance/dao/ethereum/proposals/1489-ownership/) executed on 27 August, adding a veFunder gauge for Vyper. The frxUSD/sUSDai gauge is the ordinary kind: it lets a pool compete for the weekly CRV emissions that veCRV holders vote on, so depositors there can now earn CRV. The veFunder gauge is not a pool at all — it is the DAO’s funding route, where veCRV holders can direct emissions toward Vyper development instead of toward liquidity. ## Reference tables and largest weekly changes The following tables provide additional market data for readers who want to go beyond this week’s highlights. ## Top stableswap pools | Chain | Pool | Volume | Fees | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-355/deposit) | $152.5M | $1.7k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $109.7M | $12.3k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/3pool/deposit) | $93.7M | $14.1k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-789/deposit) | $50.2M | $5.3k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-365/deposit) | $38.1M | $1.3k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $34.0M | $3.4k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $30.6M | $6.6k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-43/deposit) | $29.9M | $3.3k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-0/deposit) | $20.5M | $2.0k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-193/deposit) | $17.9M | $1.9k | ## Top cryptoswap pools | Chain | Pool | Volume | Fees | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/tricrypto2/deposit) | $12.8M | $6.2k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit) | $7.3M | $4.7k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit) | $5.3M | $2.6k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-1/deposit) | $2.9M | $11.9k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://www.curve.finance/dex/ethereum/pools/cvxeth/deposit) | $2.5M | $9.4k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe (Monerium EUR)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $1.9M | $642.5 | ## Largest gauge weight changes | Chain | Pool / Market | CRV Emissions | Change | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------- | ------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply USD)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-392/deposit) | 136k | +30.6k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-283/deposit) | 113k | +27.9k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD (Resupply USD)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-413/deposit) | 39.8k | +23.8k | | ... | ... | ... | ... | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-705/deposit) | 17k | \-23.4k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-298/deposit) | 138k | \-25.4k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-402/deposit) | 43.4k | \-33.4k | reUSD/scrvUSD took the largest weight gain of the week. OETH/WETH, which took the largest gain last week, gave up the most this week. ## DEX markets ### Largest fee changes | Chain | Pool | Fees | Change | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $12.3k | +$5.43k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-789/deposit) | $5.28k | +$4.18k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcdf7028ceab81fa0c6971208e83fa7872994bee5.png)T](https://www.curve.finance/dex/ethereum/pools/teth/deposit) | $3.36k | +$3.02k | | ... | ... | ... | ... | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://www.curve.finance/dex/ethereum/pools/cvxeth/deposit) | $9.35k | \-$5.19k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-0/deposit) | $2.05k | \-$5.64k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/tricrypto2/deposit) | $6.19k | \-$6.17k | ### Largest volume changes | Chain | Pool | Volume | Change | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $110M | +$43.7M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-789/deposit) | $50.2M | +$39.3M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-365/deposit) | $38.1M | +$20.3M | | ... | ... | ... | ... | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://www.curve.finance/dex/ethereum/pools/steth/deposit) | $7.46M | \-$45.2M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $34M | \-$48.8M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-0/deposit) | $20.5M | \-$56.4M | ### Largest TVL changes | Chain | Pool | TVL | Change | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $65.7M | +$9.71M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-0/deposit) | $13.7M | +$1.58M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-510/deposit) | $14.8M | +$1.42M | | ... | ... | ... | ... | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-368/deposit) | $59.7M | \-$8.42M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $20M | \-$10.5M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $54.3M | \-$22.8M | ## LlamaLend markets ### Largest changes in crvUSD borrowing | Chain | Market | Borrowed | Change | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | ------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $24.5M | +$3.61M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $5.15M | +$1.51M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $33.1M | +$1.08M | | ... | ... | ... | ... | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $5.52M | +$24.1k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $230k | +$281 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $154k | +$6.06 | The week’s growth in crvUSD debt came mostly from BTC collateral: WBTC added $3.61 million and cbBTC $1.51 million, against $1.08 million for wstETH. ### Largest changes in LlamaLend borrowing | Chain | Market | Borrowed | Change | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | ------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe) | $11.7M | +$998k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | $6.18M | +$434k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | $5.34M | +$421k | | ... | ... | ... | ... | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0x745422BF49f3F6e4A8E12E4abD19339E7910F8C9) | $206k | \-$319k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617) | $2.85M | \-$366k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $5.49M | \-$938k | crvUSD/sfrxUSD appears on both sides because these are two separate markets with the same collateral: the LlamaLend v2 market (controller 0x3cD4…1bbe, $11.7 million borrowed) took on $998k more debt, while the older v1 market (controller 0x3DE3…BF50, $5.49 million borrowed) was paid down by $938k. ### Largest changes in LlamaLend supply | Chain | Market | Supplied | Change | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | ------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe) | $14.4M | +$1.35M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | $9.51M | +$763k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | $7.29M | +$679k | | ... | ... | ... | ... | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617) | $3.67M | \-$390k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9) | $35.6M | \-$800k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $7.24M | \-$871k | ## Explore Curve - [Explore DEX markets](https://www.curve.finance/dex/ethereum/pools?ref=news.curve.finance) - [Explore lending markets](https://www.curve.finance/lend/ethereum/markets?ref=news.curve.finance) - [Explore Savings crvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) **Know someone tracking DeFi yields?** Forward them this issue. Subscribe on Curve News to receive next week’s report. **Risk information:** [pool risks](https://docs.curve.finance/user/security/risks/pools?ref=news.curve.finance), [lending risks](https://docs.curve.finance/user/security/risks/lending?ref=news.curve.finance) and [crvUSD risks](https://docs.curve.finance/user/security/risks/crvusd?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 35, 2026 URL: https://news.curve.finance/curve-best-yields-week-35-2026/ Last updated: 2026-08-27T13:37:01.000Z ## This week in 60 seconds - Top pool APYs: sUSG/reUSD at **23.7%**, MUSD/USDC/USDT at **22.8%**, and OUSD/USG at **17.6%**. - **Yield quality:** most leading USD rates are incentive-driven; sUSG/reUSD has the strongest disclosed fee component. - **Lending:** the highest listed supply rates are **6.7%** for USDC/WBTC and crvUSD/svZCHF. - **Protocol:** PegKeeper reserves rose to $65 million, with crvUSD at $0.9998 at the snapshot. - **Governance:** yRisk was selected as risk assessor, with funding under vote. > **This week's takeaway:** most leading USD rates depend more on incentives than trading fees. sUSG/reUSD is the exception among the highlighted pools, with 8.98 percentage points of its 23.66% rate coming from fees. ## Top yields *Rates are estimated annualized returns for a modeled $100,000 deposit after pool dilution. They include base fees, unboosted CRV and active Merkl rewards where applicable. Rates are variable and not guaranteed. Data snapshot: 27 August 2026.* ### Top USD Yields | Chain | Market | Type | Est. APY | | ------------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---- | -------- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf17d6f98a5c6eaa99d149079984119e0a4ef6900.png)sUSG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5086bf358635b81d8c47c66d1c8b9e567db70c72.png)reUSD (Re Protocol)](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit) | Pool | 23.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-518/deposit) | Pool | 22.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-975/deposit) | Pool | 17.6% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-705/deposit) | Pool | 17.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-704/deposit) | Pool | 15.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-1008/deposit) | Pool | 12.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-1009/deposit) | Pool | 11.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6440f144b7e50d6a8439336510312d2f54beb01d.png)BOLD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5f98805a4e8be255a32880fdec7f6728c6568ba0.png)LUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-456/deposit) | Pool | 10.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-895/deposit) | Pool | 10.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-793/deposit) | Pool | 9.9% | **What supports the leading rates:* MUSD/USDC/USDT earns 0.27% in base fees against 22.57% in incentives. frxUSD/USG earns 0.25% in base fees against 16.88% in incentives. The relevant pools range from $0.65 million to $2.38 million. sUSG/reUSD is more fee-supported, with 8.98 percentage points of its 23.66% rate coming from fees.* ### Top Llamalend Supply Yields | Chain | Market | Supply APY | | ------------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | | ![Optimism](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE/vault/deposit) | 6.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe5f130253ff137f9917c0107659a4c5262abf6b0.png)svZCHF](https://www.curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit) | 6.7% | | ![Optimism](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA/vault/deposit) | 4.6% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit) | 4.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit) | 4.4% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit) | 4.0% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617/vault/deposit) | 3.9% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://www.curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit) | 3.5% | | ![Arbitrum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://www.curve.finance/lend/arbitrum/markets/0xb9aDddCf4e01c2f64F8F2CD9a050DC35585ea053/vault/deposit) | 3.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/lend/ethereum/markets/0x23F5a668A9590130940eF55964ead9787976f2CC/vault/deposit) | 3.5% | ### Top BTC & ETH Yields | Chain | Market | Asset | Est. APY | | ------------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | -------- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa35b1b31ce002fbf2058d22f30f95d405200a15b.png)ETHx](https://www.curve.finance/dex/ethereum/pools/factory-v2-338/deposit) | ETH | 7.7% | | ![Arbitrum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://www.curve.finance/dex/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 4.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-113/deposit) | ETH | 3.1% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 2.7% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-264/deposit) | BTC | 2.0% | | ![Monad](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://www.curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 1.5% | ### Other Top Yields | Chain | Market | Asset | Est. APY | | ------------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------- | -------- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-300/deposit) | CRV | 11.1% | | ![Optimism](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000042.png)OP![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0994206dfe8de6ec6920ff4d779b0d950605fb53.png)CRV](https://www.curve.finance/dex/optimism/pools/factory-tricrypto-1/deposit) | CRV | 9.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 5.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 4.2% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 3.5% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-397/deposit) | FOREX | 1.8% | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.2% | ## Protocol health crvUSD remained close to its target price at $0.9998 while PegKeeper reserves increased to $65 million. Lending and DEX activity also expanded, although the data below does not establish individual-loan health, bad debt or lender withdrawability. Peg, reserves and bad debt are health indicators; TVL, borrowing, swaps and volume are activity indicators, and aggregate collateral growth does not show that individual loans became better covered. ### crvUSD & scrvUSD | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $66.3M | +76.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 1.3% | \-0.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 26.1% | \-18.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9998 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 1.1% | \-0.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $65M | +$26.5M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $9.72k | +$8.97k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Fees | $12.2k | \-21.7% | Reserves grew by more than the whole PegKeeper balance stood at two weeks ago. ### Llamalend | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $243M | +33.4% | | 🦙 Supplied | $91.9M | +3.0% | | 🦙 Borrowed | $131M | +32.6% | | 🦙 Collateral | $215M | +40.2% | | 🦙 Loans | 1124 | +12 | | 🦙 Fees | $1.14k | +30.6% | ### DEX | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $1.54B | +4.7% | | 🔄 Volume | $1.1B | +91.2% | | 🔄 Swaps | 618k | +25.7% | | 🔄 Total Fees | $347k | +24.0% | Volume grew far faster than swap count, so the average trade was about half as large again. *Fees here are DEX pool fees only; crvUSD minting fees and Llamalend fees appear in their own sections.* ### DAO | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.55B | +0.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 851M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 781M | +0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $105k | \-28.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 2.211% | \-1.499% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $592k (1.86M CRV) | +8.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.029% | \-0.766% | ## Governance and protocol updates ### More room to borrow against sreUSD [Vote 1475](https://www.curve.finance/dao/ethereum/proposals/1475-ownership/) raised the DAO’s crvUSD credit line to the sreUSD LlamaLend market from $15 million to $30 million. sreUSD is the yield-bearing version of [Resupply’s](https://resupply.finance/) reUSD stablecoin. Holders can use it as collateral to borrow crvUSD without selling their position—either to access liquidity or to build a leveraged loop with greater exposure to sreUSD yield. At the publication snapshot, the market had $36.4 million supplied and $23.7 million borrowed, with 65% utilization, a 0.50% variable borrow rate and a 0.33% supply APY. ### yRisk selected as risk assessor, funding under vote **Preference vote passed; the binding funding vote is still open.** [Vote 1478](https://www.curve.finance/dao/ethereum/proposals/1478-ownership/) — a non-binding preference vote — closed and executed on 22 August with 536.9 million CRV in favour and none against. [Vote 1492](https://www.curve.finance/dao/ethereum/proposals/1492-ownership/), which funds the mandate closes on 2 September. yRisk is an automation-first risk provider led by core contributors to Yearn and Resupply. It will monitor LlamaLend v2’s collateral, oracles, liquidity and market parameters, providing alerts and evidence-based recommendations. Their expertise will help LlamaLend v2 scale safely while remaining attractive for borrowers and lenders. ## Complete weekly data The tables below are the reference layer: every market that moved this week, for readers who want to inspect the full set rather than the highlights above. ## Top Stableswap Pools | Chain | Pool | Volume | Fees | | ------------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-355/deposit) | $174.3M | $2.1k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/3pool/deposit) | $117.5M | $17.6k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $82.9M | $8.3k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-0/deposit) | $76.9M | $7.7k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-43/deposit) | $73.2M | $7.7k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $66.0M | $6.9k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://www.curve.finance/dex/ethereum/pools/steth/deposit) | $52.6M | $5.3k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $44.2M | $9.5k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://www.curve.finance/dex/ethereum/pools/factory-v2-303/deposit) | $28.4M | $2.3k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5086bf358635b81d8c47c66d1c8b9e567db70c72.png)reUSD (Re Protocol)![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-534/deposit) | $23.8M | $2.6k | ## Top Cryptoswap Pools | Chain | Pool | Volume | Fees | | ------------------------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/tricrypto2/deposit) | $22.4M | $12.4k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit) | $9.4M | $8.2k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit) | $7.6M | $4.5k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-2/deposit) | $4.0M | $6.8k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://www.curve.finance/dex/ethereum/pools/cvxeth/deposit) | $3.6M | $14.5k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-271/deposit) | $2.5M | $8.4k | ## Gauge Winners & Losers | Chain | Pool / Market | CRV Emissions | Change | | ------------------------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------- | ------- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-402/deposit) | 76.8k | +3.49k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-365/deposit) | 4.03k | +1.87k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-300/deposit) | 15.9k | +1.61k | | ... | ... | ... | ... | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | 36k | \-1.71k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | 24.3k | \-1.83k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-v2-251/deposit) | 5.04k | \-3.52k | OETH/WETH took the largest weight gain of the week; the three msUSD pools gave up the most. ## DEX Winners & Losers ### Fees Winners & Losers | Chain | Pool | Fees | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://www.curve.finance/dex/ethereum/pools/cvxeth/deposit) | $14.5k | +$9.21k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/tricrypto2/deposit) | $12.4k | +$8.03k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/3pool/deposit) | $17.6k | +$7.66k | | ... | ... | ... | ... | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc00db6b41473d065027f5ed6fada20fde75f142e.png)KRWQ](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-332/deposit) | $21.8 | \-$1.28k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-193/deposit) | $1.39k | \-$1.71k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-1011/deposit) | $8.25k | \-$6.21k | ### Volume Winners & Losers | Chain | Pool | Volume | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-355/deposit) | $174M | +$143M | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/3pool/deposit) | $117M | +$51M | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-0/deposit) | $76.9M | +$48.3M | | ... | ... | ... | ... | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-789/deposit) | $10.9M | \-$6.71M | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x82957d600963ae0c529c3819ac7c349c4d49269b.png)USDnr![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-594/deposit) | $723k | \-$9.86M | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-193/deposit) | $13.4M | \-$16.7M | ### TVL Winners & Losers | Chain | Pool | TVL | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | -------- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $77.2M | +$29.6M | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-368/deposit) | $68.1M | +$22.8M | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://www.curve.finance/dex/ethereum/pools/steth/deposit) | $102M | +$9.9M | | ... | ... | ... | ... | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-0/deposit) | $12.1M | \-$2.48M | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $56M | \-$4.8M | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-316/deposit) | $1.08M | \-$19.1M | The two crvUSD/WETH lines are different pools: one took in $22.8M, the other gave back $19.1M. ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers | Chain | Market | Borrowed | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | ------- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $32M | +$22.2M | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $20.9M | +$5.31M | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $2.43M | +$704k | | ... | ... | ... | ... | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $230k | +$75k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $154k | \-$41.6 | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $5.5M | \-$113k | wstETH alone accounts for most of the week's growth in crvUSD debt. ### Lend Markets - Borrowing Winners & Losers | Chain | Market | Borrowed | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | $4.92M | +$1.83M | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | $5.74M | +$1.55M | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe) | $10.7M | +$1.51M | | ... | ... | ... | ... | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617) | $3.21M | \-$95.1k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9) | $23.7M | \-$631k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $6.43M | \-$1.33M | sfrxUSD sits on both sides again: one market borrowed $1.51M more, another repaid $1.33M. ### Lend Markets - Supplying Winners & Losers | Chain | Market | Supplied | Change | | ------------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe) | $13M | +$1.7M | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | $8.75M | +$919k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | $6.62M | +$749k | | ... | ... | ... | ... | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/lend/ethereum/markets/0x413FD2511BAD510947a91f5c6c79EBD8138C29Fc) | $48.8k | \-$78.2k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $8.11M | \-$877k | | ![Ethereum](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://www.curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675) | $3.04M | \-$932k | ## Explore Curve - [Explore DEX markets](https://www.curve.finance/dex/ethereum/pools?ref=news.curve.finance) - [Explore lending markets](https://www.curve.finance/lend/ethereum/markets?ref=news.curve.finance) - [Explore Savings crvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) **Know someone tracking DeFi yields?** Forward them this issue. Subscribe on Curve News to receive next week’s report. **Risk information:** [pool risks](https://docs.curve.finance/user/security/risks/pools?ref=news.curve.finance), [lending risks](https://docs.curve.finance/user/security/risks/lending?ref=news.curve.finance) and [crvUSD risks](https://docs.curve.finance/user/security/risks/crvusd?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 34, 2026 URL: https://news.curve.finance/curve-best-yields-week-34-2026/ Last updated: 2026-08-20T16:55:17.000Z Weekly yield and Curve ecosystem metric updates as of the 20th August, 2026 **Top Yields:** **1st**. [sUSG/reUSD Pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit) on Ethereum with **21.8%** Yield, **2nd**. [frxUSD/USG Pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-705/deposit) on Ethereum with **17.8%** Yield, **3rd**. [sdUSD/frxUSD Pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-669/deposit) on Ethereum with **13.8%** Yield ## Market Overview - The seven preference votes on risk-provider candidates closed on the 17th of August. Only Manifold ended with more CRV in favour than against, 329.6M to 303.8M; the other six were voted down - First full week at the new CRV emission rate: 1.86M CRV issued against 2.22M at the old rate, annual inflation 4.032% - Llamalend TVL up 11.0% to $182M, supply up 15.8% to $89.2M, borrowing up 1.3% to $99M - crvUSD minting down 5.5% to $37.7M; PegKeeper reserves up $4.74M to $38.5M - [Vote 1487](https://www.curve.finance/dao/ethereum/proposals/1487-ownership/), which would kill emissions on five pools, is open until the 23rd of August ## Top Yields *Rates are what a new $100k deposit would receive after diluting the pool: base fees, unboosted CRV and any live Merkl campaign.* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *offer boosting on top.* ### Top USD Yields | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf17d6f98a5c6eaa99d149079984119e0a4ef6900.png)sUSG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5086bf358635b81d8c47c66d1c8b9e567db70c72.png)reUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit) | Pool | 21.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-705/deposit) | Pool | 17.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 13.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-704/deposit) | Pool | 13.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6440f144b7e50d6a8439336510312d2f54beb01d.png)BOLD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf4c13d631450de6b12a19829e37c8e2826891dc4.png)avUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-915/deposit) | Pool | 9.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x63d74d22e689c715a04f2c13962b1f77f443d35b.png)DUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-838/deposit) | Pool | 9.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf4c13d631450de6b12a19829e37c8e2826891dc4.png)avUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-675/deposit) | Pool | 8.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-895/deposit) | Pool | 8.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-297/deposit) | Pool | 7.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x056b269eb1f75477a8666ae8c7fe01b64dd55ecc.png)USD3](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-906/deposit) | Pool | 6.9% | *Most of the rates at the top of this table are gauge emissions rather than trading: sUSG/reUSD earns *0.09%* in base fees against a *15.8%* gauge, frxUSD/USG *0.00%* against *18.9%*, on pools of $0.6M to $1.8M.* ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa35b1b31ce002fbf2058d22f30f95d405200a15b.png)ETHx](https://www.curve.finance/dex/ethereum/pools/factory-v2-338/deposit) | ETH | 11.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://www.curve.finance/dex/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 3.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-303/deposit) | ETH | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 2.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-264/deposit) | BTC | 2.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://www.curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 1.5% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-300/deposit) | CRV | 9.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-283/deposit) | CRV | 8.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 4.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 3.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-397/deposit) | FOREX | 2.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.2% | ### Top Llamalend Supply Yields | Chain | Market | Supply Rate | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ----------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe5f130253ff137f9917c0107659a4c5262abf6b0.png)svZCHF](https://www.curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043/vault/deposit) | 6.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://www.curve.finance/lend/arbitrum/markets/0xB5c6082d3307088C98dA8D79991501E113e6365d/vault/deposit) | 5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617/vault/deposit) | 4.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA/vault/deposit) | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit) | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit) | 4.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/lend/ethereum/markets/0x23F5a668A9590130940eF55964ead9787976f2CC/vault/deposit) | 3.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50/vault/deposit) | 3.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE/vault/deposit) | 3.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit) | 3.3% | ## Weekly Metrics ### crvUSD & scrvUSD | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $37.7M | \-5.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 1.4% | \-0.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 44.4% | +1.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9998 | +$0.0007 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 2.1% | \-0.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $38.5M | +$4.74M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $748 | +$228 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Fees | $15.5k | +4.1% | ### Llamalend | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $182M | +11.0% | | 🦙 Supplied | $89.2M | +15.8% | | 🦙 Borrowed | $99M | +1.3% | | 🦙 Collateral | $154M | +6.5% | | 🦙 Loans | 1112 | +18 | | 🦙 Fees | $869 | +85.1% | Supply has now grown faster than debt for a second week running. ### DEX | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.47B | +3.1% | | 🔄 Volume | $567M | +3.8% | | 🔄 Swaps | 433k | \-16.4% | | 🔄 Total Fees | $260k | +1.4% | Volume rose on 16.4% fewer swaps, so the average trade was larger than last week. *Fees here are DEX pool fees only; crvUSD minting fees and Llamalend fees appear in their own sections.* ### DAO | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.55B | +0.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 851M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 778M | \-0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $146k | +251.8% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 3.709% | +2.622% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $459k (1.86M CRV) | \-13.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.032% | \-0.767% | The emission step is written into the token contract and repeats every 365 days. ## Top Stableswap Pools | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/3pool/deposit) | $66.4M | $10.0k | | 2 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $44.0M | $4.4k | | 3 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $34.3M | $3.6k | | 4 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-355/deposit) | $30.9M | $590.5 | | 5 | +11 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-193/deposit) | $30.2M | $3.1k | | 6 | +9 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-0/deposit) | $28.7M | $2.9k | | 7 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-43/deposit) | $26.5M | $2.7k | | 8 | \-4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $23.3M | $4.7k | | 9 | \-6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-157/deposit) | $18.9M | $1.0k | | 10 | \-5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-789/deposit) | $17.6M | $1.8k | ## Top Cryptoswap Pools | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/tricrypto2/deposit) | $6.0M | $4.3k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit) | $5.1M | $2.6k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit) | $4.3M | $2.8k | | 4 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://www.curve.finance/dex/ethereum/pools/cvxeth/deposit) | $1.4M | $5.3k | | 5 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $1.1M | $367.1 | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-2/deposit) | $939.7k | $2.5k | crvUSD/WETH/CRV sits third by volume but earns more in fees than the pool above it. ## Gauge Winners & Losers | 📍 | Chain | Pool / Market | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-705/deposit) | $1.78M | 40.4k | +31.5k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-704/deposit) | $1.42M | 25.8k | +14.1k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-510/deposit) | $13M | 66.2k | +12.4k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | $3.42M | 16k | \-15.4k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $6.36M | 37.7k | \-19.6k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-402/deposit) | $55.4M | 73.3k | \-28.1k | frxUSD/USG and USDC/USG took the largest weight gains on pools of $1.78M and $1.42M, which is why both sit at the top of the USD yield table. ## DEX Winners & Losers ### Fees Winners & Losers | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-1016/deposit) | $8.29M | $16.6k | +$14.6k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-1011/deposit) | $3.82M | $14.5k | +$3.79k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-779/deposit) | $2.41M | $4.82k | +$3.18k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-271/deposit) | $582k | $1.96k | \-$1.54k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $180k | $273 | \-$1.94k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://www.curve.finance/dex/ethereum/pools/cvxeth/deposit) | $1.43M | $5.33k | \-$3.04k | ### Volume Winners & Losers | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $44M | $4.4k | +$24.3M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-193/deposit) | $30.2M | $3.11k | +$19.4M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-0/deposit) | $28.7M | $2.87k | +$17.2M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-16/deposit) | $3.3M | $330 | \-$10.2M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-793/deposit) | $206k | $1.03k | \-$12.9M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $34.3M | $3.59k | \-$13.4M | ### TVL Winners & Losers | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-368/deposit) | $45.3M | +$16.1M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://www.curve.finance/dex/ethereum/pools/steth/deposit) | $91.9M | +$15.1M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-402/deposit) | $55.4M | +$8.76M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit) | $4.3M | \-$3.31M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $60.8M | \-$16.2M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-316/deposit) | $20.2M | \-$24.2M | The two crvUSD/WETH lines are different pools, one taking in $16.1M and the other giving back $24.2M. ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $9.22M | $5.61M | +$995k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $33.2M | $15.6M | +$362k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $2.86M | $1.31M | +$3.31k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $4.04M | $1.72M | \-$37.8k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $24.8M | $9.78M | \-$1.33M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $5.4M | $3.34M | \-$2.15M | ### Lend Markets - Borrowing Winners & Losers | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe) | $11.3M | $9.17M | +$1.67M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | $7.83M | $4.19M | +$1.6M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | $5.87M | $3.09M | +$866k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://www.curve.finance/lend/arbitrum/markets/0xb9aDddCf4e01c2f64F8F2CD9a050DC35585ea053) | $182k | $112k | \-$25k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) | $332k | $271k | \-$31.7k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $8.99M | $7.76M | \-$1.27M | sfrxUSD heads both sides: the V2 market opened in July borrowed more, the original from February 2025 repaid. ### Lend Markets - Supplying Winners & Losers | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9) | $36.1M | $24.3M | +$10.7M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | $7.83M | $4.19M | +$2.23M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe) | $11.3M | $9.17M | +$1.69M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608) | $2.59M | $1.82M | \-$155k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | $5.87M | $3.09M | \-$582k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $8.99M | $7.76M | \-$2.68M | --- Explore Yield Oppportunities [Go to DEX markets ](https://www.curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://www.curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://www.curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://docs.curve.finance/user/security/risks/pools?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://docs.curve.finance/user/security/risks/lending?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://docs.curve.finance/user/security/risks/crvusd?ref=news.curve.finance). ### CRV Emissions Fall Below 100 Million as Epoch 6 Begins URL: https://news.curve.finance/crv-emission/ Last updated: 2026-08-13T16:59:55.000Z It's that time of year again: CRV emissions have been cut. The rate of new CRV drops from \~115.5M CRV/year (\~3.66 CRV/second) to **\~97.2M CRV/year** (\~3.08 CRV/second), marking the start of **Epoch 6**. This is the first time annual emissions fall below 100 million. The CRV emission rate decreases every August under Curve's hardcoded emission schedule. The previous reduction kicked in on Tue, Aug 12, 2025 at 22:17 UTC. > 🎂 **6th birthday for Curve DAO!** CRV launched on August 12, 2020, so Curve's 6-year anniversary arrives with this year's emission reduction. ## The Emission Schedule CRV emissions follow a fixed, immutable schedule based on **epochs**, each lasting exactly one year. At the start of every new epoch, the emission rate decreases by a constant factor of: **2^(1/4) ≈ 1.189** This results in a **\~15.9% reduction** in emissions every August, and halves the rate every four years. Over the coming year, around **18.4M fewer CRV** will be emitted than under the previous rate. ![CRV emitted per day, epoch by epoch](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/08/crv_emission_stepdown.png) CRV emitted per day, epoch by epoch. Source: CRV token contract. ## Historical Emissions Schedule | DATE | EPOCH | CRV EMISSIONS per YEAR | | ------------------- | ----- | ---------------------- | | Aug 2020 - Aug 2021 | 0 | 274,815,283.00 | | Aug 2021 - Aug 2022 | 1 | 231,091,186.33 | | Aug 2022 - Aug 2023 | 2 | 194,323,750.18 | | Aug 2023 - Aug 2024 | 3 | 163,406,144.93 | | Aug 2024 - Aug 2025 | 4 | 137,407,641.50 | | Aug 2025 - Aug 2026 | 5 | 115,545,593.17 | | Aug 2026 - Aug 2027 | **6** | **97,161,875.06** | ## Why CRV Gets More Scarce Over Time Emission reduction is a key part of CRV's long-term design: reduce inflation over time by tapering the supply of new tokens. Six years after launch, the annual rate is around **35%** of where it began, and this year's cut takes annual issuance from 4.80% to **4.03%** of total supply. ## How Does the Emission Reduction Happen? As with all mechanisms on Curve, the emission reduction is fully **permissionless**. It is not controlled by a multisig or any external administrator. When the CRV token contract was deployed on August 12, 2020, the entire emission schedule was set in stone, and the code has enforced it every year since. In practice, the reduction occurs when someone calls the `update_mining_parameters()` function on the CRV token contract after the one-year mark. **Anyone can trigger this update**, and once called, the emission rate is reduced for the next 12 months. > 💡 Since the reduction isn't automatically triggered, the exact timing can vary. This year the wait was **19 seconds**: Epoch 6 opened at 22:17:28 UTC and the new rate was applied at 22:17:47 UTC, inside an ordinary transaction that claimed CRV through the Minter. ## Where the Emissions Go New CRV enters circulation through gauge-weighted emissions, where pools with more veCRV votes receive a larger share of the remaining supply. That scope widened this summer. In July, Curve governance accepted the new [Llamalend V2 Gauge Factory](https://news.curve.finance/curve-monthly-recap-july-2026/), and CRV rewards are now live for the first Ethereum Llamalend V2 markets, including sDOLA, sfrxUSD and syrupUSDC. Emissions can therefore support liquidity across both Curve's DEX and its isolated lending markets, with allocation remaining under the control of veCRV voters. The next reduction is due on **August 12, 2027**, taking emissions to around 223,800 CRV per day. ### Curve Best Yields & Key Metrics | Week 33, 2026 URL: https://news.curve.finance/curve-best-yields-week-33-2026/ Last updated: 2026-08-13T14:16:23.000Z Weekly yield and Curve ecosystem metric updates as of the 13th August, 2026 **Top Yields:** **1st**. [sUSG/reUSD Pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit) on Ethereum with **18.0%** Yield, **2nd**. [USD3/scrvUSD Pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-307/deposit) on Ethereum with **12.5%** Yield, **3rd**. [MUSD/USDC/USDT Pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-518/deposit) on Ethereum with **9.2%** Yield ## Market Overview Welcome to another weekly newsletter. Here's the news: - Llamalend grew on every measure: supply up 22.7% to $77.1M, borrowing up 13.3% to $97.7M, TVL up 12.3% to $164M, and 1,094 loans open - The svZCHF/crvUSD market went live on Llamalend V2 with a 500,000 crvUSD borrow cap: [vote 1474](https://www.curve.finance/dao/ethereum/proposals/1474-ownership/) executed on the 12th of August - CRV entered its sixth mining epoch on the 12th of August: daily emissions stepped down 15.91%, from 316,563 to 266,197 CRV. The step is written into the token contract, runs every 365 days and does not change how emissions are split between gauges - crvUSD minting grew 5.3% to $39.8M, the average borrow rate held at 2.1% and PegKeeper reserves stayed at $33.8M - Robinhood Chain enters the fee table: Curve's new deployment contributed $118.7k of this week's pool fees, second only to Ethereum - Eight non-binding preference votes on risk-provider candidates opened on the 10th of August, each candidate with its own vote, alongside a separate add-on proposal As always, see all the highlighted opportunities and weekly metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields. All yields are calculated assuming a minimum of $100k TVL.* ### Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* *Note: yields are shown as the rate a new $100k deposit would actually receive: base fees plus unboosted CRV gauge rewards plus any live Merkl campaign, diluted by the deposit itself.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf17d6f98a5c6eaa99d149079984119e0a4ef6900.png)sUSG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5086bf358635b81d8c47c66d1c8b9e567db70c72.png)reUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit) | Pool | 18.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0d86883faf4ffd7aeb116390af37746f45b6f378.png)USD3![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-307/deposit) | Pool | 12.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-518/deposit) | Pool | 9.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x056b269eb1f75477a8666ae8c7fe01b64dd55ecc.png)USD3](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-906/deposit) | Pool | 8.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe1753f2e00940cc31213dd92013cf019dfe4ca1d.png)sGho](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-885/deposit) | Pool | 7.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-886/deposit) | Pool | 7.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0d86883faf4ffd7aeb116390af37746f45b6f378.png)USD3![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-503/deposit) | Pool | 7.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x63d74d22e689c715a04f2c13962b1f77f443d35b.png)DUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-838/deposit) | Pool | 7.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-779/deposit) | Pool | 7.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://www.curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05) | Llamalend | 6.8% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* ETH pairs hold the top of this table: ETH/ETHx leads on 5.4%, with alETH/WETH on Arbitrum at 4.6%. The BTC side is quieter, topping out at 3.3% on the WBTC/cbBTC/hemiBTC pool. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa35b1b31ce002fbf2058d22f30f95d405200a15b.png)ETHx](https://www.curve.finance/dex/ethereum/pools/factory-v2-338/deposit) | ETH | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://www.curve.finance/dex/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 4.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 3.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-264/deposit) | BTC | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000006.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://www.curve.finance/dex/fraxtal/pools/factory-stable-ng-6/deposit) | ETH | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://www.curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 1.4% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* CRV liquid-locker pairs pay the most here, CRV/sdCRV at 11.4% and CRV/yCRV at 7.5%. Among the non-dollar currencies, crvUSD/CJPY offers 5.6% and crvUSD/ZCHF 3.5%; the gold pair XAUt/PAXG remains close to zero at 0.1%. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-300/deposit) | CRV | 11.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfcc5c47be19d06bf83eb04298b026f81069ff65b.png)yCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-280/deposit) | CRV | 7.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 3.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 2.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.1% | ### Top Llamalend Supply Yields *All yields are calculated assuming a minimum of $100k TVL.* *Supply rates use the same basis as the table above: base lending rate plus unboosted CRV gauge rewards plus any live Merkl campaign, diluted for a $100k deposit. Markets that are more than 95% lent out are left off: the rate they show falls away as soon as new money arrives.* | Chain | Market | Supply Rate | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ----------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://www.curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05/vault/deposit) | 6.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA/vault/deposit) | 5.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE/vault/deposit) | 5.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit) | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://www.curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit) | 4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit) | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://www.curve.finance/lend/arbitrum/markets/0xB5c6082d3307088C98dA8D79991501E113e6365d/vault/deposit) | 4.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://www.curve.finance/lend/arbitrum/markets/0xb9aDddCf4e01c2f64F8F2CD9a050DC35585ea053/vault/deposit) | 4.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit) | 3.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/lend/ethereum/markets/0x23F5a668A9590130940eF55964ead9787976f2CC/vault/deposit) | 3.4% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD minting grew 5.3% to $39.8M while the average borrow rate held at 2.1% and PegKeepers kept $33.8M in reserves. The scrvUSD savings yield edged up to 1.5%, while the share of minted crvUSD sitting in savings fell 4.9 points to 43.1% as new minting outpaced deposits. crvUSD trades at $0.9991\. Minting fees came to 14.9k crvUSD on the week, down 2.6%. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $39.8M | +5.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 1.5% | +0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 43.1% | \-4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9991 | \-$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 2.1% | +0.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $33.8M | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $520 | \-$565 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Fees | $14.9k | \-2.6% | ### Llamalend Llamalend TVL rose 12.3% to $164M, the one part of the protocol that grew this week. Supply led at +22.7% to $77.1M, ahead of debt at +13.3% to $97.7M, so deposits came in faster than they were borrowed; collateral rose 10.1% to $144M and the loan count reached 1,094\. Fees paid to the protocol were $470 for the week. Only the V2 markets pay a share of interest to the DAO, so only those are counted here; in the older markets all of the interest goes to lenders. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $164M | +12.3% | | 🦙 Supplied | $77.1M | +22.7% | | 🦙 Borrowed | $97.7M | +13.3% | | 🦙 Collateral | $144M | +10.1% | | 🦙 Loans | 1094 | +24 | | 🦙 Fees | $470 | | ### DEX **Robinhood Chain enters the fee table.** Curve's new deployment contributed $118.7k of this week's pool fees, second only to Ethereum. With it counted, DEX fees finished the week flat at $237k, up 0.9%, and the swap count rose 20.9% to 459k. Volume fell 24.9% to $536M. Set Robinhood aside and the established chains had a soft week: the single largest move is USDC/sUSDat, which turned over $117M less than last week, $129.8M down to $13.1M. That volume left on its own: the pool traded $53.3M on the 30th of July and was down to $0.3M a day by the 8th of August. [Vote 1473](https://www.curve.finance/dao/ethereum/proposals/1473-ownership/) raised that pool's swap fee from 0.01% to 0.50%, but it executed on the 11th of August, when most of the volume had already gone. TVL was flat at $1.43B. Note that the fee line here counts DEX pool fees only; crvUSD minting fees and Llamalend fees are shown separately in their own sections above. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.43B | \-0.7% | | 🔄 Volume | $536M | \-24.9% | | 🔄 Swaps | 459k | +20.9% | | 🔄 Total Fees | $237k | +0.9% | ### DAO veCRV distribution fell 41.8% to $41.6k, taking the veCRV APR down to 1.088%, following the lower fees on the established chains described above. CRV locked holds at 851M with 781M veCRV outstanding, and weekly emissions were $529k (2.22M CRV), up 16.0% on a higher CRV price. CRV entered its sixth mining epoch on the 12th of August, and daily emissions stepped down from 316,563 to 266,197 CRV, a cut of 15.91% written into the token contract. The 4.799% in the table annualises the week just gone, almost all of which ran at the old rate; at the new rate a year of issuance is 97.2M CRV, or 4.03% of supply. | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.55B | +0.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 851M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 781M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $41.6k | \-41.8% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 1.088% | \-1.168% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $529k (2.22M CRV) | +16.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.799% | \-0.004% | ## Top Stableswap Pools DAI/USDC/USDT moved up one place to the top on $54.2M, with USDG/USDC three places up at #2 on $47.7M and WETH/weETH also three places up at #3 on $24.4M. The sharpest climbers were further down the table: USD1/USDC/USDT rose eighteen places to #10 and trUSD/USDC twelve places to #9. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/3pool/deposit) | $54.2M | $8.1k | | 2 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $47.7M | $4.8k | | 3 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-157/deposit) | $24.4M | $1.3k | | 4 | +6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $22.8M | $4.6k | | 5 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-789/deposit) | $22.5M | $2.3k | | 6 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-43/deposit) | $21.7M | $2.2k | | 7 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $19.7M | $2.0k | | 8 | \-4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-355/deposit) | $17.2M | $364.3 | | 9 | +12 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd0580192e98ea6ceb9c7b6191ed2e27560911697.png)trUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-1001/deposit) | $15.1M | $1.5k | | 10 | +18 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8d0d000ee44948fc98c9b98a4fa4921476f08b0d.png)USD1![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-553/deposit) | $14.1M | $130.9 | ## Top Cryptoswap Pools The two TriCrypto pools swapped places once more, USDC/WBTC/WETH taking #1 on $8.7M ahead of USDT/WBTC/WETH on $7.4M. crvUSD/WETH/CRV holds #3 on $5.3M. Volumes shown are weekly totals. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit) | $8.7M | $3.5k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/tricrypto2/deposit) | $7.4M | $3.2k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit) | $5.3M | $3.3k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $2.1M | $726.1 | | 5 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://www.curve.finance/dex/ethereum/pools/cvxeth/deposit) | $1.9M | $8.4k | | 6 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-2/deposit) | $1.1M | $1.2k | ## Gauge Winners & Losers ETH/ETHx took the largest gauge weight gain (+1.82k), followed by the new crvUSD/svZCHF market (+1.71k), which earns emissions from its first week, before any supply has arrived. On the other side, DOLA/sUSDe shed the most (-29.7k), with FRAX/USDe and reUSD/scrvUSD both down 22k. | 📍 | Chain | Pool / Market | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa35b1b31ce002fbf2058d22f30f95d405200a15b.png)ETHx](https://www.curve.finance/dex/ethereum/pools/factory-v2-338/deposit) | $205k | 1.82k | +1.82k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe5f130253ff137f9917c0107659a4c5262abf6b0.png)svZCHF](https://www.curve.finance/lend/ethereum/markets/0xFd85e847cDd2549f213E276e4B57B0690169F043) | $0 | 1.71k | +1.71k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-677/deposit) | $4.27k | 67.4 | +67.4 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-35/deposit) | $34M | 117k | \-22k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-392/deposit) | $9.26M | 117k | \-22k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-298/deposit) | $46.8M | 155k | \-29.7k | ## DEX Winners & Losers ### Fees Winners & Losers WETH/CVX added the most fees (+$5.01k) on $1.93M of volume, with crvUSD/YB up $2.67k and crvUSD/WETH/CRV up $1.72k. USDC/sUSDat gave back the most (-$14.8k), in line with its lost volume, with frxUSD/msUSD (-$9.59k) and WETH/USDC (-$5.9k) next. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://www.curve.finance/dex/ethereum/pools/cvxeth/deposit) | $1.93M | $8.37k | +$5.01k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-271/deposit) | $980k | $3.5k | +$2.67k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit) | $5.34M | $3.3k | +$1.72k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC](https://www.curve.finance/dex/base/pools/factory-stable-ng-573/deposit) | $1.58M | $3.16k | \-$5.9k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $1.42M | $2.21k | \-$9.59k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-793/deposit) | $13.1M | $1.63k | \-$14.8k | ### Volume Winners & Losers USDG/USDC added the most volume (+$16.7M), followed by USD1/USDC/USDT (+$10.5M) and trUSD/USDC (+$9.9M). USDC/sUSDat lost $117M, four times the next-largest decline, with DAI/USDC/USDT (-$29.8M) and PYUSD/USDC (-$19.2M) behind it. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $47.7M | $4.82k | +$16.7M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8d0d000ee44948fc98c9b98a4fa4921476f08b0d.png)USD1![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-553/deposit) | $14.1M | $131 | +$10.5M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd0580192e98ea6ceb9c7b6191ed2e27560911697.png)trUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-1001/deposit) | $15.1M | $1.53k | +$9.9M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-43/deposit) | $21.7M | $2.23k | \-$19.2M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/3pool/deposit) | $54.2M | $8.12k | \-$29.8M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-793/deposit) | $13.1M | $1.63k | \-$117M | ### TVL Winners & Losers DOLA/sUSDe drew the biggest TVL inflow (+$5.87M), ahead of OETH/WETH (+$4.24M) and crvUSD/WBTC (+$2.12M). NUSD/USDC saw the largest exit (-$3.51M, leaving $27k behind), with crvUSD/cbBTC (-$2.67M) and USD0/bUSD0 (-$1.96M) next. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-298/deposit) | $46.8M | +$5.87M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-402/deposit) | $46.7M | +$4.24M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-365/deposit) | $50.5M | +$2.12M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x73a15fed60bf67631dc6cd7bc5b6e8da8190acf5.png)USD0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x35d8949372d46b7a3d5a56006ae77b215fc69bc0.png)bUSD0](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-189/deposit) | $1.75M | \-$1.96M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-366/deposit) | $82.6M | \-$2.67M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-595/deposit) | $27k | \-$3.51M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers cbBTC led crvUSD borrow growth (+$979k), with wstETH (+$511k) and WBTC (+$342k) behind it. Repayments were negligible this week: no crvUSD minting market gave back more than $5. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $8.97M | $5.49M | +$979k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $23.5M | $11.1M | +$511k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $30.2M | $15.2M | +$342k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $325k | $154k | +$51 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $2.66 | $1.08 | +$0.00237 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $305k | $154k | \-$4.35 | ### Lend Markets - Borrowing Winners & Losers sreUSD led new Llamalend borrowing (+$5.1M), with sfrxUSD (+$4.95M) and the new syrupUSDC market (+$1.24M) next. Note that sfrxUSD appears on both sides of this table, and they are two different markets: the V2 market opened in July added $4.95M, while the original market from February 2025 repaid $3.8M. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9) | $25.4M | $24.2M | +$5.1M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe) | $9.62M | $7.5M | +$4.95M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://www.curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675) | $3.56M | $1.69M | +$1.24M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617) | $4.12M | $3.19M | \-$29k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) | $380k | $303k | \-$328k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $11.7M | $9.03M | \-$3.8M | ### Lend Markets - Supplying Winners & Losers sfrxUSD drew the most fresh supply (+$6.33M), followed by sreUSD (+$3.3M) and sUSDe (+$3.21M). As with borrowing, the two sfrxUSD markets moved in opposite directions: the V2 market took in $6.33M while the original one gave back $4.53M, so much of this is rotation rather than new capital. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe) | $9.62M | $7.5M | +$6.33M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9) | $25.4M | $24.2M | +$3.3M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | $6.45M | $2.22M | +$3.21M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA) | $360k | $309k | \-$92.7k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) | $380k | $303k | \-$511k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $11.7M | $9.03M | \-$4.53M | --- Explore Yield Oppportunities [Go to DEX markets ](https://www.curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://www.curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://www.curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://docs.curve.finance/user/security/risks/pools?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://docs.curve.finance/user/security/risks/lending?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://docs.curve.finance/user/security/risks/crvusd?ref=news.curve.finance). ### Curve Monthly Recap July 2026 URL: https://news.curve.finance/curve-monthly-recap-july-2026/ Last updated: 2026-08-10T16:16:26.000Z The work done throughout June started to show results in July. Llamalend V2 landed on Ethereum mainnet with three new isolated markets deployed, while borrowing against crvUSD became markedly cheaper, and demand for the crvUSD grew by close to a third. ## Key Highlights of July - Llamalend V2 went live on Ethereum mainnet: sDOLA and sfrxUSD were activated through governance on 21 July, and a third market, syrupUSDC, was deployed on 24 July with its borrow cap approved by a vote that executed on 2 August - Average crvUSD borrow rates fell from 5.6% to 2.0% over the month, and minting increased in every weekly reading - crvUSD minted grew 29% to $36.7M, and collateral backing those mints grew 43% to $70.5M - A public call for proposals drew nine bids to replace LlamaRisk as the DAO's risk provider - The DAO approved a treasury stable diversification contract and began routing Arbitrum and Base fees to the treasury - A new monetary policy class, HyperbolicMP, was written and put to a vote for the V2 markets - Flying Tulip, Andre Cronje's latest venture, brought ftUSD to Curve and voted for its own gauge - Curve deployed on the Robinhood chain, joined the Money League, and passed 1,000 Stableswap-NG pools on Ethereum ## Llamalend V2 Arrives on Ethereum ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/08/llv2_caps-8.png) Borrow caps granted to the three new mainnet markets in July (votes 1451, 1461). [](https://x.com/CurveFinance/status/2077427616089252234) > Llamalend v2 is coming to Ethereum. > > It brings lending closer to Curve liquidity, with isolated markets, flexible asset pairings and support for Curve LP tokens as collateral. > The first markets will roll out gradually through Curve governance. [pic.twitter.com/adNKy26d9D](https://t.co/adNKy26d9D) > > — Curve Finance (@CurveFinance) [July 15, 2026](https://x.com/CurveFinance/status/2077427616089252234?ref%5Fsrc=twsrc%5Etfw) Llamalend V2 expanded from Optimism to Ethereum mainnet in July. Unlike V1, crvUSD is no longer mandatory in every market. Supported assets can sit on either side, while each market has its own oracle, interest-rate model, parameters and borrow cap. V2 can also support productive collateral such as Curve LP tokens and yield-bearing vault tokens. Each new market is deployed with borrowing disabled and requires governance to approve a non-zero cap. The first Ethereum markets focused on yield-bearing stablecoin collateral. Markets for borrowing crvUSD against sDOLA and sfrxUSD were activated on 21 July ([Vote 1451](https://www.curve.finance/dao/ethereum/proposals/1451-ownership)), with caps of $12.4M and $28.4M crvUSD. A syrupUSDC market was deployed on 24 July ([Vote 1461](https://www.curve.finance/dao/ethereum/proposals/1461-ownership)), with a $51.8M cap. Each market carries a 10% admin fee to the DAO, and a companion vote accepted ownership of the new Gauge Factory so CRV emissions could follow ([Vote 1452](https://www.curve.finance/dao/ethereum/proposals/1452-ownership)). [](https://x.com/CurveFinance/status/2079579698338705770) > The first Llamalend V2 markets are now live on Ethereum: > > sDOLA by [@InverseFinance](https://x.com/InverseFinance?ref%5Fsrc=twsrc%5Etfw) > sfrxUSD by [@fraxfinance](https://x.com/fraxfinance?ref%5Fsrc=twsrc%5Etfw) > > Lend, borrow, or boost your yields → [pic.twitter.com/zEFkzmbo0t](https://t.co/zEFkzmbo0t) > > — Curve Finance (@CurveFinance) [July 21, 2026](https://x.com/CurveFinance/status/2079579698338705770?ref%5Fsrc=twsrc%5Etfw) Markets open with borrow caps at zero and are raised in step with risk review, so the launch sequence is deliberately gradual. Even at this early stage, July brought activity on both sides of the market. Substantia Fund moved its BTC borrowing from Aave to Llamalend, citing liquidation protection, and Stake DAO committed $200K from its treasury to bootstrap liquidity in the new markets through OnlyBoost. By month end, borrowing across Curve's mint and lend markets stood at $80.2M against $72.6M at the start of July, and the collateral behind those loans grew from $102.6M to $123.5M. [Llamalend v2 is live on EthereumIsolated lending markets built around Curve liquidity, with flexible asset pairings, productive collateral and market-specific risk controls.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/size/w256h256/2024/11/CRV@2x.png)Curve News](https://news.curve.finance/llamalend-v2-is-live-on-ethereum/) ## crvUSD: Borrowing Gets Cheap Again ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/08/crvusd_rate_reserves-7.png) Average crvUSD borrow rate against peg stability reserves, July 2026. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/08/crvusd_mint_growth-7.png) crvUSD minted and the collateral behind it, 30 June vs 31 July. Borrowing crvUSD became materially cheaper in July. The debt-weighted average rate across mint markets fell from 5.6% at the end of June to 2.0% at the end of July. Over the same period, borrower-minted crvUSD grew 29% from $28.5M to $36.7M, while collateral supporting those loans rose 43% from $49.4M to $70.5M. Minting increased at every weekly snapshot during the month. The peg held throughout, trading between $0.9992 and $0.9998 on daily closes. Peg stability reserves stood at zero at the end of June, two months of falling leverage having left nothing for them to do. July put them back to work: the crvUSD/USDT keeper made 24 consecutive provisions between 3 and 10 July, reaching $33.75M and stopping there. What stopped it was not the size of its allocation — $101.25M of the $135M assigned to it is still unspent — but the regulator's rule on how much of that allocation a single keeper may deploy while the others sit idle: a quarter, which comes to exactly $33.75M. Reserves coming back from zero is routine — over the past two years the keepers have returned to work thirteen times and have sat at zero a quarter of all days. What is worth noting is where it stopped: no withdrawal followed, so demand for crvUSD spent the rest of the month pressed against a limit the DAO has not yet revisited. Raising that limit is already on the agenda, and so is the broader question behind it. Presenting a modest $5M cap raise for the YieldBasis WETH pool on 2 July, Michael Egorov said a research piece and a mechanism for lifting pool caps without a fixed bound, in a way that stays safe for crvUSD and the protocol, would follow shortly. [](https://x.com/newmichwill/status/2072776972728520860) > Proposal to raise WETH [@yieldbasis](https://x.com/yieldbasis?ref%5Fsrc=twsrc%5Etfw) pool cap by a tiny bit ($5M). > > Very soon though, we will present a research and solution how to do unbounded raises of the pool caps in ways safe for crvUSD and the protocol. > > — Michael Egorov (@newmichwill) [July 2, 2026](https://x.com/newmichwill/status/2072776972728520860?ref%5Fsrc=twsrc%5Etfw) As crvUSD supply expanded, the share held in scrvUSD fell from roughly 65% to 52%. The realized savings rate also declined from 4.1% to about 1.2%, as the same yield was spread across a larger, cheaper borrowing base. Alongside the markets themselves, July produced a new monetary policy class. HyperbolicMP was written mid-month and put to governance for the mainnet sDOLA and sfrxUSD markets and for the Optimism V2 markets ([Votes 1462 and 1463](https://www.curve.finance/dao/ethereum/proposals/1462-ownership)), replacing the policy the first markets launched with. 📘 Learn more about Llamalend monetary policies here: [Mint crvUSD](https://www.curve.finance/llamalend/ethereum/markets?type=Mint) · [Borrow on Llamalend V2](https://www.curve.finance/llamalend/ethereum/markets) ## The Search for a Risk Provider With LlamaRisk's engagement concluded at the end of June, the DAO opened a [public call for proposals](https://gov.curve.finance/t/call-for-proposals-curve-risk-assessment-and-market-monitoring/11106) on 7 July covering two scopes: crvUSD peg and mint market risk, and isolated Llamalend markets. The brief asked bidders to name responsibilities, KPIs and budget, and required that tooling, models and documentation remain with the DAO after any mandate ends. Nine proposals arrived within two weeks: Curvature, Pharos Watch, Xerberus, BA Labs, Tulipa Capital, Manifold, CrossWorlds, yRisk and Blockworks Advisory. The submissions differ on almost every axis. Annualised asks span an order of magnitude, from Xerberus at $100K paid entirely in CRV locked for four years to Tulipa at $1M for full operational coverage. Several bidders took only one scope, which leaves open the option of splitting the mandate between two providers. The mandate is yet to be awarded to a provider, with discussions ongoing and DAO votes set for early August. [](https://x.com/CurveFinance/status/2080250082302030103) > Thanks everyone who submitted proposals for working on risks for Curve. These proposals exceeded our expectations and are of very high quality, made by strong and experienced teams. > > Check the gov forum for the next steps > > — Curve Finance (@CurveFinance) [July 23, 2026](https://x.com/CurveFinance/status/2080250082302030103?ref%5Fsrc=twsrc%5Etfw) [Call for Proposals: Curve Risk Assessment and Market MonitoringThe DAO invites proposals to cover crvUSD peg and mint market risk and isolated Llamalend markets.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/size/w256h256/2024/11/CRV@2x.png)Curve.finance Governance](https://gov.curve.finance/t/call-for-proposals-curve-risk-assessment-and-market-monitoring/11106) ## Treasury and Governance July changed how part of Curve’s L2 revenue reaches the DAO treasury. Vote 1445 enabled crvUSD held by the Arbitrum and Base fee collectors to be bridged to the treasury on Ethereum. This included crvUSD already accumulated on those chains and future amounts entering the same fee collectors. The vote did not yet update the factory fee receivers, so it did not redirect every new admin fee generated on Arbitrum and Base. Later in the month, Vote 1456 transferred ownership of the Treasury Stable Diversification contract to the DAO and authorised it to pull treasury crvUSD. The contract can perform controlled conversions into selected yield-bearing stable assets, initially sDOLA and sfrxUSD, before returning the resulting tokens to the treasury. The vote created the mechanism for diversification but did not itself execute a conversion. July carried 27 ownership votes in total, numbers 1446 through 1472\. Beyond the V2 activations, the month's recurring theme was housekeeping: roughly a dozen gauge additions across USG, trUSD and eva pools, ramps of the A parameter on USDG and on the FIDD pools, and a coordinated removal of the Odos router from Leverage Zap contracts on five chains after Odos announced it was winding down. Governance also revisited the parameters of TricryptoUSDT, which serves as a price source for crvUSD mint markets. The proposed changes adjusted A, gamma, fees and related controls to improve liquidity density and oracle health. The parameters were stress tested using variations of historical BTC and ETH price paths ([forum thread](https://gov.curve.finance/t/update-tricryptousdt-parameters/11123)). The first attempt did not pass, with 369M veCRV against and 118M in favour; an identical proposal cleared four days later with 538M in favour and nothing against ([Vote 1460](https://www.curve.finance/dao/ethereum/proposals/1460-ownership), executed 1 August). ## Partner Spotlight: YieldBasis YieldBasis is an independent Ethereum protocol that lets BTC holders provide liquidity through pools built on Curve. Its vaults use a crvUSD credit line approved by Curve governance, while YieldBasis itself has its own DAO and remains separate from Curve and Swiss Stake. In July, YieldBasis governance passed three proposals aimed at scaling its WBTC pool while supporting crvUSD liquidity. Proposal 51 directed part of protocol fee income into a strategic crvUSD reserve, which can fund targeted Merkl campaigns when needed. Proposal 52 added $10M of WBTC capacity, while Proposal 53 activated Merkl rewards for Curve’s pyUSD/crvUSD pool. [](https://x.com/newmichwill/status/2080231741680214018) > A vote to turn [@merkl\_xyz](https://x.com/merkl%5Fxyz?ref%5Fsrc=twsrc%5Etfw) rewards for [@CurveFinance](https://x.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw) pyUSD/crvUSD pool which allows to scale [@yieldbasis](https://x.com/yieldbasis?ref%5Fsrc=twsrc%5Etfw) to billions. Plug that in! [pic.twitter.com/7FgL2qqW4s](https://t.co/7FgL2qqW4s) > > — Michael Egorov (@newmichwill) [July 23, 2026](https://x.com/newmichwill/status/2080231741680214018?ref%5Fsrc=twsrc%5Etfw) [Provide BTC liquidity on YieldBasis](https://yieldbasis.com) ## Ecosystem and Integrations July brought new deployment, wallet and routing integrations. Curve contracts were deployed on Robinhood Chain, MetaMask Connect was added to the app, and Curve joined Money League as the standard liquidity venue for member stablecoins. The number of Stableswap-NG pools deployed on Ethereum also crossed 1,000. PropellerHeads added native Rust implementations of Curve’s major pool types to Tycho, letting solvers such as Fynd quote Curve pools in microseconds rather than milliseconds. Flying Tulip, Andre Cronje's latest venture, brought its ftUSD to Curve: a gauge for the FT/ftUSD pool passed on the second attempt ([Vote 1455](https://www.curve.finance/dao/ethereum/proposals/1455-ownership), 76% turnout). [](https://x.com/newmichwill/status/2079327048682680829) > Andre's projects flying back to [@CurveFinance](https://x.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw). DeFi summer re-ignition wen > > — Michael Egorov (@newmichwill) [July 20, 2026](https://x.com/newmichwill/status/2079327048682680829?ref%5Fsrc=twsrc%5Etfw) Michael Egorov also sat down with The Rollup for a [long-form interview](https://www.youtube.com/watch?v=QCLJElL4dtg) on efficiency, cost and rethinking decentralised governance. Sequent began formally verifying specified LP-safety properties for two-coin StableSwap and reported that its first proofs had passed, with more work still in progress. Curve also published an early, unaudited Vyper module for Chainlink CCIP and CRE, already used by Curve’s blockhash oracle. ## Market Recap July was stronger for lending than for trading. DEX TVL rose 2.4% to $1.367B, but monthly volume fell 42% to $3.40B and trading fees fell 41% to $2.96M. Borrowing across Curve’s mint and lend markets moved the other way, rising 10% to $80.2M, while collateral grew 20% to $123.5M. veCRV locked ended the month at 850.8M CRV, essentially flat, with weekly fee distributions averaging $105k against $124k in June. If June paid lockers for volatility, July paid borrowers for calm. The question the month leaves open is how quickly the DAO raises its limits — the V2 borrow caps that fill market by market, and the share of its allocation a single PegKeeper may deploy. [Lock CRV](https://www.curve.finance/dao/ethereum/vecrv/create/) ### Curve Best Yields & Key Metrics | Week 32, 2026 URL: https://news.curve.finance/curve-best-yields/ Last updated: 2026-08-06T20:37:44.000Z Weekly yield and Curve ecosystem metric updates as of the 6th August, 2026 **Top Yields:** **1st**. [reUSD/sDOLA Pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-413/deposit) on Ethereum with **30.0%** Yield, **2nd**. [VUSD/crvUSD Pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-745/deposit) on Ethereum with **25.5%** Yield, **3rd**. [sUSG/reUSD Pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit) on Ethereum with **19.8%** Yield ## Market Overview Welcome to another weekly newsletter. Here's the news: - DEX TVL eased 0.5% to $1.44B while Llamalend TVL rose 4.9% to $146M - DEX volume rose 18.8% to $704M while the swap count fell 39.4% to 321k — the growth is concentrated in a single pool, USDC/sUSDat, which turned over 629x its own TVL; strip it out and volume was roughly flat week on week. Fees came in at $215k (-12.1%) - crvUSD minting grew 3.4% to $37.8M, the average borrow rate held at 2.1% and PegKeeper reserves stayed at $33.8M - Llamalend borrowing rose 7.4% to $86.3M and supply 8.3% to $62.8M, the fastest-growing leg of the protocol this week, with collateral up 5.4% to $131M - The syrupUSDC Llamalend V2 market, whose activation vote we covered last week, is now live and has drawn in $1.81M worth of supply As always, see all the highlighted opportunities and weekly metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields. All yields are calculated assuming a minimum of $100k TVL.* ### Top USD Yields *Note: yields are shown as the rate a new $100k deposit would actually receive — base fees plus unboosted CRV gauge rewards plus any live Merkl campaign, diluted by the deposit itself.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-413/deposit) | Pool | 30.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-745/deposit) | Pool | 25.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf17d6f98a5c6eaa99d149079984119e0a4ef6900.png)sUSG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5086bf358635b81d8c47c66d1c8b9e567db70c72.png)reUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit) | Pool | 19.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0d86883faf4ffd7aeb116390af37746f45b6f378.png)USD3![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-307/deposit) | Pool | 15.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe1753f2e00940cc31213dd92013cf019dfe4ca1d.png)sGho](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-885/deposit) | Pool | 14.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x056b269eb1f75477a8666ae8c7fe01b64dd55ecc.png)USD3](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-906/deposit) | Pool | 13.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 12.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0d86883faf4ffd7aeb116390af37746f45b6f378.png)USD3![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-503/deposit) | Pool | 11.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-886/deposit) | Pool | 10.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/hyperliquid.png "Hyperliquid") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0xbe65f0f410a72bec163dc65d46c83699e957d588.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://www.curve.finance/dex/hyperliquid/pools/factory-stable-ng-38/deposit) | Pool | 10.6% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://www.curve.finance/dex/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 4.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 3.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-482/deposit) | ETH | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-303/deposit) | ETH | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://www.curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 2.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-264/deposit) | BTC | 1.3% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-300/deposit) | CRV | 12.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfcc5c47be19d06bf83eb04298b026f81069ff65b.png)yCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-280/deposit) | CRV | 8.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 4.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 4.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 3.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 2.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.2% | ### Top Llamalend Supply Yields *Supply rates use the same basis as the table above: base lending rate plus unboosted CRV gauge rewards plus any live Merkl campaign, diluted for a $100k deposit. Markets above 95% utilization are excluded: their advertised rate collapses on the first deposit.* | Chain | Market | Supply Rate | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ----------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe/vault/deposit) | 9.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://www.curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675/vault/deposit) | 9.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit) | 9.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit) | 8.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit) | 6.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA/vault/deposit) | 4.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://www.curve.finance/lend/arbitrum/markets/0xb9aDddCf4e01c2f64F8F2CD9a050DC35585ea053/vault/deposit) | 4.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE/vault/deposit) | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://www.curve.finance/lend/arbitrum/markets/0xB5c6082d3307088C98dA8D79991501E113e6365d/vault/deposit) | 4.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/lend/ethereum/markets/0x23F5a668A9590130940eF55964ead9787976f2CC/vault/deposit) | 4.1% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD minting grew 3.4% to $37.8M while the average borrow rate held at 2.1% and PegKeepers kept $33.8M in reserves, adding $76 of profit on the week. The scrvUSD savings yield ticked up to 1.4%, though the share of minted crvUSD sitting in savings fell 4.4 points to 48.0% as new minting outpaced deposits. crvUSD trades at $0.9993. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $37.8M | +3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 1.4% | +0.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 48.0% | \-4.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9993 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 2.1% | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $33.8M | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $1.08k | +$76.3 | | Weekly Fees | $14.5k | +6.4% | ### Llamalend Llamalend TVL rose 4.9% to $146M, with both sides growing: debt up 7.4% to $86.3M against collateral up 5.4% to $131M, and supply up 8.3% to $62.8M. The loan count stands at 1,070. | Metric | Value | Change | | -------------------------- | ------------ | ------ | | 🦙 Llamalend TVL | $146M | +4.9% | | 🦙 Supplied | $62.8M | +8.3% | | 🦙 Borrowed | $86.3M | +7.4% | | 🦙 Collateral | $131M | +5.4% | | 🦙 Loans | 1070 | +37 | | 🦙 Llamalend V2 admin fees | none accrued | \- | ### DEX DEX volume rose 18.8% to $704M, but the swap count fell 39.4% to 321k — fewer and far larger trades. Both moves come from the same place: USDC/sUSDat alone added $97.8M of volume and took the top stableswap spot, turning over 629x its $207k of TVL, with two addresses accounting for 78% of its flow. Excluding that pool, volume was roughly flat on the week. Fees followed the swap count rather than the notional, down 12.1% to $215k, and TVL eased 0.5% to $1.44B. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.44B | \-0.5% | | 🔄 Volume | $704M | +18.8% | | 🔄 Swaps | 321k | \-39.4% | | 🔄 Total Fees | $215k | \-12.1% | ### DAO veCRV distribution rose 4.6% to $71.5k, lifting the veCRV APR to 2.256% (+0.072pp). CRV locked holds at 851M with 783M veCRV outstanding, and weekly emissions were $456k (2.22M CRV), down 0.8%. The inflation rate sits at 4.803%. | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.55B | +0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 851M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 783M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $71.5k | +4.6% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 2.256% | +0.072% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $456k (2.22M CRV) | \-0.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.803% | \-0.005% | ## Top Stableswap Pools USDC/sUSDat jumped three places to #1 on $129.8M — see the DEX note above on how that volume is distributed. DAI/USDC/USDT slipped to #2 on $83.9M and PYUSD/USDC to #3 on $40.9M after giving back $21.8M of volume. The genuine movers were further down: WETH/weETH climbed nine places to #6 and ETH/stETH seven places to #7, both on renewed LST flow. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-793/deposit) | $129.8M | $16.5k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/3pool/deposit) | $83.9M | $12.6k | | 3 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-43/deposit) | $40.9M | $4.2k | | 4 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-355/deposit) | $32.6M | $694.1 | | 5 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $31.0M | $3.1k | | 6 | +9 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-157/deposit) | $30.0M | $1.7k | | 7 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://www.curve.finance/dex/ethereum/pools/steth/deposit) | $27.7M | $2.8k | | 8 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $25.2M | $2.5k | | 9 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-789/deposit) | $21.9M | $2.2k | | 10 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $20.4M | $4.1k | ## Top Cryptoswap Pools The two TriCrypto pools swapped places at the top, with USDT/WBTC/WETH taking #1 on $7.5M ahead of USDC/WBTC/WETH on $6.9M. EURe/WXDAI/USDC/USDT held #3 on $4.3M. Volumes shown are weekly totals. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ----- | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/tricrypto2/deposit) | $7.5M | $3.5k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit) | $6.9M | $3.2k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $4.3M | $1.5k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit) | $3.0M | $1.6k | | 5 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-2/deposit) | $1.3M | $1.7k | | 6 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://www.curve.finance/dex/ethereum/pools/cvxeth/deposit) | $937.7k | $3.4k | ## Gauge Winners & Losers reUSD/scrvUSD took by far the largest gauge weight gain (+90.5k), followed by crvUSD/sfrxUSD (+43.9k) and crvUSD/sUSDe (+37.3k). On the other side, frxUSD/msUSD shed the most (-164k) with msETH/WETH (-85.2k) behind it — both msUSD and msETH pools continue to unwind. | 📍 | Chain | Pool / Market | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-392/deposit) | $7.74M | 139k | +90.5k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe) | $2.81M | 45.9k | +43.9k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | $1.88M | 37.3k | +37.3k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $47.4M | 50.9k | \-31.3k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-v2-331/deposit) | $11.2M | 41.7k | \-85.2k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $6.91M | 65.4k | \-164k | ## DEX Winners & Losers ### Fees Winners & Losers USDC/sUSDat added the most fees (+$12.2k), with frxUSD/msUSD (+$9.42k) and apyUSD/apxUSD (+$1.97k) next. WETH/USDC gave back the most (-$18.8k), followed by PYUSD/USDC (-$2.41k). | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-793/deposit) | $130M | $16.5k | +$12.2k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $12.2M | $11.8k | +$9.42k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-779/deposit) | $1.87M | $3.74k | +$1.97k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-43/deposit) | $40.9M | $4.21k | \-$2.41k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://www.curve.finance/dex/arbitrum/pools/factory-stable-ng-319/deposit) | $36.8k | $38.3 | \-$2.85k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC](https://www.curve.finance/dex/base/pools/factory-stable-ng-573/deposit) | $4.55M | $9.06k | \-$18.8k | ### Volume Winners & Losers USDC/sUSDat added $97.8M of volume, more than the rest of the top gainers combined; WETH/weETH (+$19.6M) and ETH/stETH (+$17.1M) follow. PYUSD/USDC saw the largest outflow (-$21.8M), with WETH/USDC (-$9.4M) next. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-793/deposit) | $130M | $16.5k | +$97.8M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-157/deposit) | $30M | $1.65k | +$19.6M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://www.curve.finance/dex/ethereum/pools/steth/deposit) | $27.7M | $2.77k | +$17.1M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-789/deposit) | $21.9M | $2.24k | \-$4.8M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC](https://www.curve.finance/dex/base/pools/factory-stable-ng-573/deposit) | $4.55M | $9.06k | \-$9.4M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-43/deposit) | $40.9M | $4.21k | \-$21.8M | ### TVL Winners & Losers USDG/USDC drew the biggest TVL inflow (+$9.97M), just ahead of USDC/RLUSD (+$9.88M); crvUSD/WBTC added $2.9M. LUAUSD/USDC.e/USD₮0 saw the largest exit (-$13.7M) after last week's seeding, with msETH/WETH (-$7.48M) and frxUSD/msUSD (-$6.73M) behind it. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $30.5M | +$9.97M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $76.5M | +$9.88M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-365/deposit) | $48.4M | +$2.9M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $6.91M | \-$6.73M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-v2-331/deposit) | $11.2M | \-$7.48M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x1dd6b5f9281c6b4f043c02a83a46c2772024636c.png)LUAUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xff970a61a04b1ca14834a43f5de4533ebddb5cc8.png)USDC.e![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9.png)USD₮0](https://www.curve.finance/dex/arbitrum/pools/factory-v2-138/deposit) | $3.37M | \-$13.7M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers cbBTC led crvUSD borrow growth (+$2.17M) with tBTC close behind (+$1.33M); wstETH added a further $155k. WBTC was the only meaningful repayment (-$2.45M). | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $7.68M | $4.51M | +$2.17M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $7.01M | $4.47M | +$1.33M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $22.6M | $10.6M | +$155k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $309k | $154k | +$1.56 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $2.7 | $1.07 | +$0.00259 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $30.1M | $14.9M | \-$2.45M | ### Lend Markets - Borrowing Winners & Losers sfrxUSD led new Llamalend borrowing (+$2.28M), with sDOLA (+$927k) and sreUSD (+$908k) behind it. sUSDe saw the largest repayment (-$65.2k). | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe) | $3.29M | $2.55M | +$2.28M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | $2.63M | $1.52M | +$927k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9) | $22.1M | $19.1M | +$908k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/lend/ethereum/markets/0x23F5a668A9590130940eF55964ead9787976f2CC) | $932k | $416k | \-$1.44k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://www.curve.finance/lend/arbitrum/markets/0xB5c6082d3307088C98dA8D79991501E113e6365d) | $233k | $166k | \-$4.34k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | $3.24M | $1.65M | \-$65.2k | ### Lend Markets - Supplying Winners & Losers sfrxUSD drew the most fresh supply (+$2.89M), followed by sDOLA (+$2M) and the newly activated syrupUSDC market (+$1.81M from a standing start). sreUSD gave back the most (-$1.75M), with fxSAVE (-$930k) next. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe) | $3.29M | $2.55M | +$2.89M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | $2.63M | $1.52M | +$2M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://www.curve.finance/lend/ethereum/markets/0x2fb54c8eae57767A9A509A395b9C4FA0702e2675) | $1.81M | $446k | +$1.81M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $16.2M | $12.8M | \-$273k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://www.curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05) | $311k | $311k | \-$930k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9) | $22.1M | $19.1M | \-$1.75M | --- Explore Yield Oppportunities [Go to DEX markets ](https://www.curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://www.curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://www.curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://docs.curve.finance/user/security/risks/pools?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://docs.curve.finance/user/security/risks/lending?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://docs.curve.finance/user/security/risks/crvusd?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 31, 2026 URL: https://news.curve.finance/curve-best-yields-week-31-2026/ Last updated: 2026-07-30T15:41:20.000Z Weekly yield and Curve ecosystem metric updates as of the 30th July, 2026 **Top Yields:** **1st**. [frxUSD/USP Pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-802/deposit) on Ethereum with **\>100%** Yield, **2nd**. [sdUSD/frxUSD Pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-669/deposit) on Ethereum with **19.4%** Yield, **3rd**. [sUSG/reUSD Pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit) on Ethereum with **19.0%** Yield ## Market Overview - Llamalend supply rates reached **7.7% on Optimism USDC/wstETH**, with several other markets between 6.7% and 7.4%. - crvUSD minting increased **8.0% to $36.6 million**, while its average borrow rate eased to **2.0%**. - Curve DEX volume fell 13.4%, but the number of swaps increased 15.2%, indicating more trades at a smaller average size. - Two governance processes were reported as ongoing: - [Activate](https://www.curve.finance/dao/ethereum/proposals/1461-ownership) the syrupUSDC/crvUSD Llamalend V2 market - [Disable](https://www.curve.finance/dao/ethereum/proposals) the Odos router on Leverage-Zap contracts across all supported chains following the [announcement](https://x.com/odosprotocol/status/2080337624922018014) that Odos is winding down. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields. All yields are calculated assuming a minimum of $100k TVL.* ### Top USD Yields *Note: the frxUSD/USP rate is annualised from a small launch-phase pool — hence the cap. Yields are shown as the rate a new $10k deposit would receive, so gauge rewards concentrated in a lightly staked pool are diluted accordingly.* | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x098697ba3fee4ea76294c5d6a466a4e3b3e95fe6.png)USP](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-802/deposit) | Pool | 304.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 19.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf17d6f98a5c6eaa99d149079984119e0a4ef6900.png)sUSG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5086bf358635b81d8c47c66d1c8b9e567db70c72.png)reUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-909/deposit) | Pool | 19.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-745/deposit) | Pool | 14.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-895/deposit) | Pool | 12.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0d86883faf4ffd7aeb116390af37746f45b6f378.png)USD3![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-231/deposit) | Pool | 11.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-610/deposit) | Pool | 11.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0d86883faf4ffd7aeb116390af37746f45b6f378.png)USD3![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-503/deposit) | Pool | 11.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | Llamalend | 10.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/avalanche.png "Avalanche") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-avalanche/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-avalanche/0x9ee1963f05553ef838604dd39403be21cef26aa4.png)USDp](https://www.curve.finance/dex/avalanche/pools/factory-stable-ng-30/deposit) | Pool | 10.4% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-303/deposit) | ETH | 4.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-482/deposit) | ETH | 4.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-v2-331/deposit) | ETH | 3.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 3.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://www.curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 2.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-264/deposit) | BTC | 0.9% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-300/deposit) | CRV | 15.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://www.curve.finance/dex/base/pools/factory-crypto-4/deposit) | CRV | 11.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 7.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 6.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 3.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.3% | ### Top Llamalend Supply Yields | Chain | Market | Supply Rate | | -------- | -------------------------------------------------------------------------------------------------------------------------- | ----------- | | Optimism | [USDC/wstETH](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA/vault/deposit) | 7.7% | | Optimism | [USDC/WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE/vault/deposit) | 7.4% | | Arbitrum | [crvUSD/WBTC](https://www.curve.finance/lend/arbitrum/markets/0xb9aDddCf4e01c2f64F8F2CD9a050DC35585ea053/vault/deposit) | 6.9% | | Ethereum | [crvUSD/sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0/vault/deposit) | 6.8% | | Arbitrum | [crvUSD/WETH](https://www.curve.finance/lend/arbitrum/markets/0xB5c6082d3307088C98dA8D79991501E113e6365d/vault/deposit) | 6.7% | | Optimism | [WETH/wstETH](https://www.curve.finance/lend/optimism/markets/0x745422BF49f3F6e4A8E12E4abD19339E7910F8C9/vault/deposit) | 3.3% | | Ethereum | [crvUSD/wstETH](https://www.curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608/vault/deposit) | 3.3% | | Ethereum | [crvUSD/sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6/vault/deposit) | 2.6% | | Ethereum | [crvUSD/sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50/vault/deposit) | 2.3% | | Ethereum | [crvUSD/WBTC](https://www.curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617/vault/deposit) | 2.2% | *Supply rates are base plus any live Merkl campaign. Markets above 95% utilization are excluded: their advertised rate collapses on the first deposit.* ## Weekly Metrics ### crvUSD & scrvUSD crvUSD minting grew **8.0%** to $36.6M, its strongest weekly gain since April, while the average **borrow rate eased to 2.0%**. PegKeepers held steady at $33.8M in reserves. The scrvUSD savings yield stands at 1.0%, with 52.4% of minted crvUSD staked (down 3.8% on the week as new minting outpaced savings deposits); crvUSD trades at $0.9993. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $36.6M | +8.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 1.0% | \-0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 52.4% | \-3.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9993 | \-$0.0003 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 2.0% | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $33.8M | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $1.01k | \-$71.1 | ### Llamalend Llamalend TVL rose 4.1% to $140M, with borrowing the main driver: debt grew 4.2% to $80.4M and collateral 4.4% to $124M. Supply lagged behind at $57.9M (+1.3%), with the loan count at 1,033. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $140M | +4.1% | | 🦙 Supplied | $57.9M | +1.3% | | 🦙 Borrowed | $80.4M | +4.2% | | 🦙 Collateral | $124M | +4.4% | | 🦙 Loans | 1033 | +8 | ### DEX DEX volume fell 13.4% to $592M, but the swap count moved the other way, up 15.2% to 530k — the week's trades were more numerous and individually smaller. Total fees followed volume down to $244k (-10.8%), and TVL was steady at $1.45B (-0.4%). | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.45B | \-0.4% | | 🔄 Volume | $592M | \-13.4% | | 🔄 Swaps | 530k | +15.2% | | 🔄 Total Fees | $244k | \-10.8% | ### DAO veCRV distribution was near-flat at $68.4k (+0.8%), holding the veCRV APR at 2.184%. CRV locked stands at 851M with 784M veCRV outstanding; weekly CRV emissions were $460k (2.22M CRV), down 3.1% on the CRV price rather than on the emission schedule. | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.54B | +0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 851M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 784M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $68.4k | +0.8% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 2.184% | +0.047% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $460k (2.22M CRV) | \-3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.808% | \-0.004% | ## Top Stableswap Pools DAI/USDC/USDT held the top stableswap spot at $74.1M. The week's mover was PYUSD/USDC, up 16 places to #2 on $62.7M, with USDC/sUSDat close behind climbing 17 places to #4 on $32M. USDC/USDT gave back six places to #8. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/3pool/deposit) | $74.1M | $11.1k | | 2 | +16 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-43/deposit) | $62.7M | $6.6k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $35.3M | $3.6k | | 4 | +17 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-793/deposit) | $32.0M | $4.3k | | 5 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $27.9M | $2.8k | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-789/deposit) | $26.7M | $2.7k | | 7 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-0/deposit) | $20.8M | $2.1k | | 8 | \-6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-355/deposit) | $17.3M | $384.3 | | 9 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-968/deposit) | $16.2M | $52.9k | | 10 | +14 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC](https://www.curve.finance/dex/base/pools/factory-stable-ng-573/deposit) | $14.0M | $27.9k | ## Top Cryptoswap Pools Cryptoswap rankings were unchanged at the top, led by the two TriCrypto pools at $6.1M and $6.0M. Volumes shown are weekly totals. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit) | $6.1M | $3.2k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/tricrypto2/deposit) | $6.0M | $3.5k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $5.7M | $2.0k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit) | $3.3M | $1.7k | | 5 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://www.curve.finance/dex/ethereum/pools/cvxeth/deposit) | $1.2M | $4.4k | | 6 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x320623b8e4ff03373931769a31fc52a4e78b5d70.png)RSR](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-21/deposit) | $1.1M | $946.0 | ## Gauge Winners & Losers FT/ftUSD took the largest gauge weight gain (+5.72k) while ftUSD/USDC shed a near-identical amount (-5.64k). VUSD/crvUSD (+2.36k) and OETH/WETH (+1.03k) also added weight. | 📍 | Chain | Pool / Market | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5dd1a7a369e8273371d2dbf9d83356057088082c.png)FT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf7d85ec4e7710f71992752eac2111312e73e9c9c.png)ftUSD](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-390/deposit) | $2.82k | 5.72k | +5.72k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-745/deposit) | $225k | 4.37k | +2.36k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-402/deposit) | $42M | 91.8k | +1.03k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-510/deposit) | $12.4M | 72.8k | \-441 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/fraxusdc/deposit) | $2.17M | 9.91k | \-1.9k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf7d85ec4e7710f71992752eac2111312e73e9c9c.png)ftUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-932/deposit) | $1.88M | 1.91k | \-5.64k | ## DEX Winners & Losers ### Fees Winners & Losers WETH/USDC posted the largest fee gain (+$16k), followed by PYUSD/USDC (+$5.55k) and USDC/sUSDat (+$3.4k). apyUSD/apxUSD gave back the most (-$11.9k) after its prior-week surge, with USDC/RLUSD (-$4.35k) next. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC](https://www.curve.finance/dex/base/pools/factory-stable-ng-573/deposit) | $14M | $27.9k | +$16k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-43/deposit) | $62.7M | $6.62k | +$5.55k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-793/deposit) | $32M | $4.27k | +$3.4k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/3pool/deposit) | $74.1M | $11.1k | \-$3.31k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $10.9M | $2.22k | \-$4.35k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-779/deposit) | $882k | $1.76k | \-$11.9k | ### Volume Winners & Losers PYUSD/USDC added by far the most volume (+$52.3M) as it climbed to #2, with USDC/sUSDat (+$24M) and WETH/USDC (+$8.01M) behind it. USDC/USDT saw the largest outflow (-$36.5M), followed by WETH/weETH (-$28.1M). | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-43/deposit) | $62.7M | $6.62k | +$52.3M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-793/deposit) | $32M | $4.27k | +$24M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC](https://www.curve.finance/dex/base/pools/factory-stable-ng-573/deposit) | $14M | $27.9k | +$8.01M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/3pool/deposit) | $74.1M | $11.1k | \-$22.1M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-157/deposit) | $10.4M | $566 | \-$28.1M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-355/deposit) | $17.3M | $384 | \-$36.5M | ### TVL Winners & Losers LUAUSD/USDC.e/USD₮0 drew the biggest TVL inflow (+$13.4M). Behind it, strUSD/trUSD (+$10M) and trUSD/USDC (+$6.17M) were seeded this week, both having sat at under $2 of TVL a week earlier. FRAX/USDe saw the largest exit (-$9.93M), with USDC/USDat (-$5.15M) next. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x1dd6b5f9281c6b4f043c02a83a46c2772024636c.png)LUAUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xff970a61a04b1ca14834a43f5de4533ebddb5cc8.png)USDC.e![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9.png)USD₮0](https://www.curve.finance/dex/arbitrum/pools/factory-v2-138/deposit) | $17.1M | +$13.4M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x280839980a7ed0d7717f64125fe241012e5f5815.png)strUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd0580192e98ea6ceb9c7b6191ed2e27560911697.png)trUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-1003/deposit) | $10M | +$10M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd0580192e98ea6ceb9c7b6191ed2e27560911697.png)trUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-1001/deposit) | $6.17M | +$6.17M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $13.6M | \-$3.05M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-789/deposit) | $9.75M | \-$5.15M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-35/deposit) | $34.1M | \-$9.93M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers wstETH led crvUSD borrow growth by a wide margin (+$1.82M), with cbBTC (+$531k) and WBTC (+$319k) behind it. Net repayments were negligible across the other minting markets. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $22.4M | $10.4M | +$1.82M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $3.67M | $2.34M | +$531k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $35M | $17.3M | +$319k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $308k | $154k | \-$1.2 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $3.42M | $1.73M | \-$2.27k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $4.81M | $3.14M | \-$19.4k | ### Lend Markets - Borrowing Winners & Losers The two Llamalend V2 markets on mainnet took the top two spots for new borrowing: sDOLA (+$542k) and sfrxUSD (+$271k). crvUSD/WBTC saw the largest repayment (-$161k). | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | $635k | $592k | +$542k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe) | $398k | $272k | +$271k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608) | $1.19M | $948k | +$84.8k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) | $1.16M | $617k | \-$49.4k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://www.curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05) | $1.24M | $280k | \-$88.3k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617) | $4.06M | $3.21M | \-$161k | ### Lend Markets - Supplying Winners & Losers fxSAVE drew the most fresh supply (+$871k), followed by the sDOLA (+$576k) and sfrxUSD (+$393k) V2 markets. On the other side, sreUSD gave back $728k and the older, much larger sfrxUSD market shed $162k even as its V2 counterpart grew. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://www.curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05) | $1.24M | $280k | +$871k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | $635k | $592k | +$576k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe) | $398k | $272k | +$393k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $16.5M | $12.8M | \-$162k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617) | $4.06M | $3.21M | \-$169k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9) | $23.9M | $18.2M | \-$728k | --- Explore Yield Oppportunities [Go to DEX markets ](https://www.curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://www.curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://www.curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://docs.curve.finance/user/security/risks/pools?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://docs.curve.finance/user/security/risks/lending?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://docs.curve.finance/user/security/risks/crvusd?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 30, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-30-2026/ Last updated: 2026-07-23T15:59:14.000Z **Top Yields:** **1st**. [frxUSD/USP frxUSDUSP](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-802/deposit) on Ethereum with **\>100%** Yield, **2nd**. [crvUSD/sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) on Ethereum with **27.7%** Yield, **3rd**. [VUSD/crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-745/deposit) on Ethereum with **24.7%** Yield ## Market Overview Welcome to another weekly newsletter. Here's the news: - Total TVL held nearly flat at $1.535B (-0.2%); DEX TVL edged up 0.5% to $1.45B and Llamalend TVL rose 1.7% to $134M - DEX volume pulled back 21.8% to $684M after last week's elevated pace, but swap count rose 3.6% to 460k and fees grew 5.4% to $274k - crvUSD minting expanded 5.6% to $33.9M; the average borrow rate slipped further to 2.1% (from 2.3%); PegKeeper reserves held at $33.8M - Llamalend borrowing rose 2.6% to $77.1M; the cbBTC vault absorbed an additional $4.1M of TVL, now at $87.6M - veCRV distribution fell to $67.9k (-35.8%) on typical fee-cycle timing, pulling veCRV APR to 2.1% As always, see all the highlighted opportunities and weekly metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields. All yields are calculated assuming a minimum of $100k TVL.* ### Top USD Yields *Note: the frxUSD/USP rate is annualised from a small launch-phase pool — hence the cap. VUSD pool rates come from CRV gauge emissions.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x098697ba3fee4ea76294c5d6a466a4e3b3e95fe6.png)USP](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-802/deposit) | Pool | 334.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | Llamalend | 27.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-745/deposit) | Pool | 24.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3cD4d86a2c65e57ce4b4121b67E2D2224BA41bbe) | Llamalend | 22.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-903/deposit) | Pool | 21.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-904/deposit) | Pool | 20.3% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-303/deposit) | ETH | 5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 3.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 2.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 1.0% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-300/deposit) | CRV | 13.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 9.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfcc5c47be19d06bf83eb04298b026f81069ff65b.png)yCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-280/deposit) | CRV | 8.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 4.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 3.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.2% | ### Top Llamalend Supply Yields *Optimism Llamalend V2 markets include live Merkl OP rewards: supply rates shown are base + Merkl. Rates on small markets move quickly with TVL.* | Chain | Market | Supply Rate | | -------- | ----------------------------------------------------------------------------------------------------------- | ----------- | | Optimism | [wstETH-WETH](https://www.curve.finance/lend/optimism/markets/0x745422BF49f3F6e4A8E12E4abD19339E7910F8C9) | 44.6% | | Fraxtal | [crvUSD/sfrxUSD](https://www.curve.finance/lend/fraxtal/markets/0xB4EbF87A474569d8eB7f7182B4beBD8aE79ae675) | 9.1% | | Optimism | [wstETH-USDC](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA) | 9.0% | | Optimism | [WBTC-USDC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) | 8.6% | | Arbitrum | [crvUSD/WBTC](https://www.curve.finance/lend/arbitrum/markets/0xb9aDddCf4e01c2f64F8F2CD9a050DC35585ea053) | 7.4% | | Arbitrum | [crvUSD/WETH](https://www.curve.finance/lend/arbitrum/markets/0xB5c6082d3307088C98dA8D79991501E113e6365d) | 7.0% | | Ethereum | [crvUSD/fxSAVE](https://www.curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05) | 3.1% | | Ethereum | [crvUSD/WBTC](https://www.curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617) | 2.5% | | Ethereum | [crvUSD/wstETH](https://www.curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608) | 2.4% | | Ethereum | [crvUSD/sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | 2.4% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD minting grew 5.6% to $33.9M as borrowers added positions; the average borrow rate eased to 2.1% (down from 2.3%). PegKeepers held steady at $33.8M in reserves. The scrvUSD savings yield stands at 1.2%, with 56.2% of minted crvUSD now staked (down 4.7% on the week); crvUSD price holds at $0.9996. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $33.9M | +5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 1.2% | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 56.2% | \-4.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9996 | \-$0.0003 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 2.1% | \-0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $33.8M | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $1.08k | \-$2.01k | ### Llamalend Llamalend TVL rose 1.7% to $134M: borrowing was the main driver, up 2.6% to $77.1M, with collateral up 2.6% to $119M. Supply dipped marginally to $57.2M (-1.1%) and the loan count was near-flat at 1,025. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $134M | +1.7% | | 🦙 Supplied | $57.2M | \-1.1% | | 🦙 Borrowed | $77.1M | +2.6% | | 🦙 Collateral | $119M | +2.6% | | 🦙 Loans | 1025 | +1 | ### DEX DEX volume normalised to $684M (-21.8%) after last week's elevated pace, but the underlying swap count rose 3.6% to 460k and total fees grew 5.4% to $274k. TVL was stable at $1.45B (+0.5%). | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.45B | +0.5% | | 🔄 Volume | $684M | \-21.8% | | 🔄 Swaps | 460k | +3.6% | | 🔄 Total Fees | $274k | +5.4% | ### DAO veCRV distribution fell to $67.9k this week (-35.8%) on normal fee-cycle timing, bringing the veCRV APR to 2.1% (from 3.3%). CRV locked is at 851M with 784M veCRV outstanding; weekly CRV emissions were $475k. | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.54B | +0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 851M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 784M | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $67.9k | \-35.8% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 2.138% | \-1.122% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $475k (2.22M CRV) | +2.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.812% | \-0.005% | ## Top Stableswap Pools DAI/USDC/USDT retained the top stableswap spot ($96.2M). USDC/USDT surged 8 places to #2 ($53.8M) and USDG/USDC gained one to #3 ($41.5M); WETH/weETH jumped 7 places to #4 ($38.5M). | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/3pool/deposit) | $96.2M | $14.4k | | 2 | +8 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-355/deposit) | $53.8M | $1.0k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $41.5M | $4.3k | | 4 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-157/deposit) | $38.5M | $2.1k | | 5 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $32.4M | $6.6k | | 6 | +17 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-789/deposit) | $30.2M | $3.0k | | 7 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $26.3M | $2.6k | | 8 | +6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC](https://www.curve.finance/dex/base/pools/factory-stable-ng-561/deposit) | $25.3M | $50.7k | | 9 | +10 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC](https://www.curve.finance/dex/base/pools/factory-stable-ng-555/deposit) | $24.9M | $11.4k | | 10 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-0/deposit) | $24.0M | $2.4k | ## Top Cryptoswap Pools Cryptoswap activity was led by the majors. Volumes shown are weekly totals. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit) | $11.2M | $5.0k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/tricrypto2/deposit) | $7.5M | $4.0k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $5.4M | $1.7k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit) | $4.0M | $2.2k | | 5 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x320623b8e4ff03373931769a31fc52a4e78b5d70.png)RSR](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-21/deposit) | $850.1k | $494.4 | | 6 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-271/deposit) | $799.7k | $3.2k | ## Gauge Winners & Losers DOLAsUSDe saw the largest increase in CRV emission allocation (+66.5k) to reach 207k weekly, followed by OETHWETH (+25.6k) and FRAXUSDe (+10.9k); reUSDsfrxUSD saw the sharpest reduction (-24.4k). | 📍 | Chain | Pool / Market | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-298/deposit) | $39.1M | 207k | +66.5k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-402/deposit) | $42.7M | 90.7k | +25.6k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-35/deposit) | $44M | 159k | +10.9k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-745/deposit) | $510k | 2.02k | \-14.7k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $16.7M | 229k | \-20.6k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-393/deposit) | $3.25M | 11.7k | \-24.4k | ## DEX Winners & Losers ### Fees Winners & Losers apxUSD/USDC posted the largest fee gain (+$41k) on elevated volume, followed by WETH/USDC (+$12.2k) and apyUSD/apxUSD (+$9.55k); USDC/RLUSD gave back last week's activity (-$9.98k) and frxUSD/msUSD eased from its prior peak. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-968/deposit) | $16.8M | $54.3k | +$41k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC](https://www.curve.finance/dex/base/pools/factory-stable-ng-561/deposit) | $25.3M | $50.7k | +$12.2k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-779/deposit) | $6.84M | $13.7k | +$9.55k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $32.4M | $6.57k | \-$9.98k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $2.12M | $910 | \-$18.3k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-v2-331/deposit) | $520k | $208 | \-$29.2k | ### Volume Winners & Losers USDC/USDT added the most volume (+$24.8M) as it climbed to #2, followed by USDC/USDat (+$20.9M) and WETH/weETH (+$17.4M); frxUSD/msUSD saw the largest outflow (-$43.2M) after its prior-week surge. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-355/deposit) | $53.8M | $1.04k | +$24.8M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-789/deposit) | $30.2M | $3.02k | +$20.9M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-157/deposit) | $38.5M | $2.05k | +$17.4M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $2.12M | $910 | \-$43.2M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $32.4M | $6.57k | \-$48.3M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-v2-331/deposit) | $520k | $208 | \-$72.9M | ### TVL Winners & Losers crvUSD/cbBTC drew the biggest TVL inflow (+$4.11M, now $87.6M), with msETH/WETH (+$3.74M) and frxUSD/msUSD (+$3.72M) close behind; USDC/RLUSD saw the largest TVL exit (-$3.58M) followed by AUSD/avUSD (-$3.32M). | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-366/deposit) | $87.6M | +$4.11M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-v2-331/deposit) | $18.7M | +$3.74M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $16.7M | +$3.72M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-157/deposit) | $9.79M | \-$2.02M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x00000000efe302beaa2b3e6e1b18d08d69a9012a.png)AUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0d9d741fe423cd5419e4bcb6cb2ffa87afa93ba4.png)avUSD](https://curve.finance/dex/monad/pools/factory-stable-ng-26/deposit) | $601k | \-$3.32M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $67.1M | \-$3.58M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers wstETH led crvUSD borrow growth (+$929k), with cbBTC next (+$600k); no market saw meaningful net repayment this week. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $18M | $8.63M | +$929k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $2.81M | $1.81M | +$600k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $34.9M | $17M | +$266k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $311k | $154k | \-$74.8 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $4.97M | $3.16M | \-$6.35k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $304k | $143k | \-$16.5k | ### Lend Markets - Borrowing Winners & Losers The sfrxUSD market saw the most new borrowing (+$248k), with sDOLA a notable new entrant; activity across the other Lend markets was modest. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $16.6M | $12.8M | +$248k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | $59.7k | $49.8k | +$49.8k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608) | $1.11M | $863k | +$21.9k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/lend/ethereum/markets/0x23F5a668A9590130940eF55964ead9787976f2CC) | $610k | $417k | \-$27.5k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) | $1.18M | $666k | \-$47.2k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://www.curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05) | $370k | $369k | \-$83.2k | ### Lend Markets - Supplying Winners & Losers sfrxUSD led supply inflows (+$454k), with sDOLA also drawing fresh supply (+$59.7k) as a newly launched market. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $16.6M | $12.8M | +$454k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://www.curve.finance/lend/ethereum/markets/0xC77d97cF01737EB7aCE46cAb7cd9F60eC51a40c0) | $59.7k | $49.8k | +$59.7k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608) | $1.11M | $863k | +$18.9k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) | $1.18M | $666k | \-$84.1k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0x745422BF49f3F6e4A8E12E4abD19339E7910F8C9) | $704k | $261k | \-$195k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9) | $24.6M | $18.2M | \-$580k | --- Explore Yield Opportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://docs.curve.finance/user/security/risks/pools?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://docs.curve.finance/user/security/risks/lending?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://docs.curve.finance/user/security/risks/crvusd?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 29, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-29-2026/ Last updated: 2026-07-16T13:56:23.000Z ## Market Overview Welcome to another weekly newsletter. Here's the news: - **Total TVL jumped 7.7% to $1.538B** \- a sharp step up after weeks of stabilization, with DEX TVL up 7.6% and Llamalend TVL up 5.1% - crvUSD borrowing kept getting cheaper: **the average borrow rate fell to 2.3%** as PegKeepers extended their reserve rebuild to $33.8M (+$7.2M) - Llamalend V2 is heading to Ethereum mainnet - [a proposal is live](https://www.curve.finance/dao/ethereum/proposals/1451-ownership) to activate the sDOLA-crvUSD and sfrxUSD-crvUSD markets As always, see all the highlighted opportunities and weekly metrics below. ## Top Yields **1st**. [frxUSD/USP frxUSDUSP](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-802/deposit) on Ethereum with **\>100%** Yield, **2nd**. [apxUSD/USDC apxUSDUSDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-968/deposit) on Ethereum with **74.1%** Yield, **3rd**. [crvUSD/fxSAVE crvUSDfxSAVE](https://www.curve.finance/lend/ethereum/markets/one-way-market-39/vault/deposit) on Ethereum with **26.7%** Yield *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields. All yields are calculated assuming a minimum of $100k TVL.* ### Top USD Yields | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x098697ba3fee4ea76294c5d6a466a4e3b3e95fe6.png)USP](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-802/deposit) | Pool | \>100% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-968/deposit) | Pool | 74.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://www.curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05) | Llamalend | 26.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-745/deposit) | Pool | 24.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-903/deposit) | Pool | 21.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-904/deposit) | Pool | 20.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 19.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x476310e34d2810f7d79c43a74e4d79405bd7a925.png)sVUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-788/deposit) | Pool | 16.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0d86883faf4ffd7aeb116390af37746f45b6f378.png)USD3![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-503/deposit) | Pool | 13.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0d86883faf4ffd7aeb116390af37746f45b6f378.png)USD3![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-231/deposit) | Pool | 12.3% | *Note: the frxUSD/USP rate comes from a live Merkl incentive campaign annualised against a small pool (\~$137k of liquidity), so the headline rate dilutes quickly as TVL grows - hence the cap. The VUSD pool rates come from CRV gauge emissions.* ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://www.curve.finance/dex/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 8.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 6.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-v2-331/deposit) | ETH | 5.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 3.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/dex/optimism/pools/factory-v2-63/deposit) | BTC | 1.1% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://www.curve.finance/dex/ethereum/pools/factory-v2-300/deposit) | CRV | 13.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://www.curve.finance/dex/base/pools/factory-crypto-4/deposit) | CRV | 12.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 10.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 7.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 4.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.1% | ### Top Llamalend Supply Yields | Chain | Market | Supply Rate | | -------- | --------------------------------------------------------------------------------------------------------- | ----------- | | Ethereum | [crvUSD/fxSAVE](https://www.curve.finance/lend/ethereum/markets/one-way-market-39/vault/deposit) | 28.3% | | Fraxtal | [crvUSD/sfrxUSD](https://www.curve.finance/lend/fraxtal/markets/one-way-market-1/vault/deposit) | 7.7% | | Arbitrum | [crvUSD/WBTC](https://www.curve.finance/lend/arbitrum/markets/one-way-market-10/vault/deposit) | 4.8% | | Ethereum | [crvUSD/wstETH](https://www.curve.finance/lend/ethereum/markets/one-way-market-13/vault/deposit) | 3.0% | | Arbitrum | [crvUSD/WETH](https://www.curve.finance/lend/arbitrum/markets/one-way-market-9/vault/deposit) | 2.5% | | Ethereum | [crvUSD/sUSDe](https://www.curve.finance/lend/ethereum/markets/one-way-market-11/vault/deposit) | 2.4% | | Ethereum | [crvUSD/WBTC](https://www.curve.finance/lend/ethereum/markets/one-way-market-9/vault/deposit) | 2.2% | | Ethereum | [crvUSD/sfrxUSD](https://www.curve.finance/lend/ethereum/markets/one-way-market-28/vault/deposit) | 2.1% | | Optimism | [WETH/wstETH](https://www.curve.finance/lend/optimism/markets/0x745422BF49f3F6e4A8E12E4abD19339E7910F8C9) | 34.1% | | Optimism | [USDC/WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) | 7.8% | | Optimism | [USDC/wstETH](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA) | 7.7% | *Optimism Llamalend V2 markets include live Merkl OP rewards: supply rates shown are base + Merkl. Rates on small markets move quickly with TVL.* ## Weekly Metrics ### crvUSD & scrvUSD **crvUSD borrowing kept getting cheaper:** the average borrow rate fell to 2.3% (from 3.3%) as PegKeepers extended their reserve rebuild to $33.8M (+$7.2M). Minted crvUSD rose 2.4% to $32.1M; the scrvUSD savings rate eased to 1.2%, with the staked share of crvUSD down to 60.8%. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $32.1M | +2.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 1.2% | \-2.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 60.8% | \-3.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9999 | +$0.0005 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 2.3% | \-1.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $33.8M | +$7.17M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $3.09k | \- | ### Llamalend Llamalend grew broadly: TVL up 5.1% to $132M, collateral up 6.2% to $116M and borrowing up 3.2% to $75.2M, with the loan count near flat at 1,024. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $132M | +5.1% | | 🦙 Supplied | $57.8M | +2.1% | | 🦙 Borrowed | $75.2M | +3.2% | | 🦙 Collateral | $116M | +6.2% | | 🦙 Loans | 1024 | \-6 | ### DEX A strong week across the DEX: volume up 8.2% to $874M, TVL up 7.6% to $1.45B, swaps up 1.9% to 444k and total fees up 3.8% to $260k. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $1.45B | +7.6% | | 🔄 Volume | $874M | +8.2% | | 🔄 Swaps | 444k | +1.9% | | 🔄 Total Fees | $260k | +3.8% | ### DAO veCRV distribution held at $106k and total veCRV stayed steady at 784M; veCRV APR eased to 3.26% after last week's spike. | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.54B | +0.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 851M | \-0.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 784M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $106k | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 3.26% | \-0.186% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $462k (2.22M CRV) | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.817% | \-0.004% | ## Top Stableswap Pools DAI/USDC/USDT took the top stableswap spot on $91.5M of volume, while msETH/WETH vaulted 12 places to #3 ($73.4M) on a sharp jump in turnover. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/3pool/deposit) | $91.5M | $13.7k | | 2 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-327/deposit) | $80.7M | $16.5k | | 3 | +12 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-v2-331/deposit) | $73.4M | $29.4k | | 4 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $70.5M | $7.1k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-314/deposit) | $50.9M | $5.3k | | 6 | +15 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $45.3M | $19.2k | | 7 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-0/deposit) | $34.1M | $3.4k | | 8 | \-4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $31.3M | $3.1k | | 9 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-43/deposit) | $29.9M | $3.1k | | 10 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-355/deposit) | $29.0M | $573.5 | ## Top Cryptoswap Pools The tricrypto majors lead cryptoswap activity. Volumes shown are weekly totals. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/tricrypto2/deposit) | $8.1M | $4.4k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-0/deposit) | $6.7M | $3.8k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $5.7M | $2.0k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-4/deposit) | $4.4M | $2.4k | | 5 | +23 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcdf7028ceab81fa0c6971208e83fa7872994bee5.png)T](https://www.curve.finance/dex/ethereum/pools/teth/deposit) | $1.5M | $5.4k | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://www.curve.finance/dex/ethereum/pools/cvxeth/deposit) | $1.3M | $4.3k | ## Gauge Winners & Losers frxUSD/msUSD drew the biggest gauge-weight gain (+58.5k CRV emissions) as its volume surged, with the ETH+WETH and FRAX/USDe gauges next; the pmUSD pairs shed the most weight. | 📍 | Chain | Pool / Market | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $13M | 249k | +58.5k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-482/deposit) | $11.3M | 35.5k | +35.5k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-35/deposit) | $44M | 149k | +22.1k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-653/deposit) | $2.9M | 38.5k | \-31.4k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-v2-331/deposit) | $15M | 140k | \-33.7k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-652/deposit) | $3.26M | 35.6k | \-35k | ## DEX Winners & Losers ### Fees Winners & Losers msETH/WETH led fee growth (+$24.1k) as its turnover surged, with frxUSD/msUSD next (+$15.7k); apxUSD/USDC gave back the prior week's gains (-$32k). | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-v2-331/deposit) | $73.4M | $29.4k | +$24.1k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $45.3M | $19.2k | +$15.7k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC](https://www.curve.finance/dex/base/pools/factory-stable-ng-561/deposit) | $19.3M | $38.5k | +$11k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $70.5M | $7.12k | \-$5.38k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-779/deposit) | $2.07M | $4.14k | \-$11.2k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-968/deposit) | $4.41M | $13.3k | \-$32k | ### Volume Winners & Losers msETH/WETH added the most weekly volume (+$60.1M), followed by frxUSD/msUSD (+$36.8M); USDG/USDC cooled from last week's volume peak (-$53M). | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-v2-331/deposit) | $73.4M | $29.4k | +$60.1M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-599/deposit) | $45.3M | $19.2k | +$36.8M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-v2-251/deposit) | $20.7M | $8.26k | +$17.5M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://www.curve.finance/dex/ethereum/pools/factory-v2-303/deposit) | $11.2M | $894 | \-$17M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $31.3M | $3.13k | \-$17.5M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-563/deposit) | $70.5M | $7.12k | \-$53M | ### TVL Winners & Losers USDT/crvUSD drew the largest TVL inflow (+$31.2M), with ETH/stETH (+$14.5M) and crvUSD/WETH (+$13.6M) close behind; PYUSD/USDC saw the biggest outflow (-$7.3M). | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) | $47.5M | +$31.2M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://www.curve.finance/dex/ethereum/pools/steth/deposit) | $78.7M | +$14.5M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-368/deposit) | $29.5M | +$13.6M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-355/deposit) | $5.01M | \-$3.97M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-35/deposit) | $44M | \-$5.74M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-43/deposit) | $38.7M | \-$7.32M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers WBTC minters added the most new crvUSD debt (+$517k), ahead of WETH and wstETH; no market saw material net repayment this week. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $34.7M | $16.8M | +$517k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $3.43M | $1.71M | +$77.2k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $16.1M | $7.7M | +$62.4k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $324k | $160k | +$172 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $312k | $154k | +$87.1 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $2.73 | $1.07 | +$0.00289 | ### Lend Markets - Borrowing Winners & Losers The sfrxUSD market led new borrowing (+$1.38M), with wstETH and fxSAVE next; the USDC/wstETH market unwound modestly (-$40k). | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $16.2M | $12.5M | +$1.38M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608) | $1.09M | $842k | +$128k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://www.curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05) | $452k | $452k | +$68.2k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/lend/ethereum/markets/0x23F5a668A9590130940eF55964ead9787976f2CC) | $649k | $445k | \-$708 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://www.curve.finance/lend/arbitrum/markets/0xB5c6082d3307088C98dA8D79991501E113e6365d) | $292k | $175k | \-$34.6k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA) | $723k | $373k | \-$40.1k | ### Lend Markets - Supplying Winners & Losers sreUSD kept its lead in supply inflows (+$1.54M), while suppliers rotated out of sfrxUSD (-$868k). | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9) | $25.2M | $18.2M | +$1.54M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0x745422BF49f3F6e4A8E12E4abD19339E7910F8C9) | $899k | $263k | +$237k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/lend/ethereum/markets/0x5756A035F276a8095A922931F224F4ed06149608) | $1.09M | $842k | +$149k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) | $1.26M | $713k | \-$15.2k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA) | $723k | $373k | \-$35.7k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $16.2M | $12.5M | \-$868k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://docs.curve.finance/user/security/risks/pools), [Llamalend Risk Disclaimer](https://docs.curve.finance/user/security/risks/lending), [crvUSD Risk Disclaimer](https://docs.curve.finance/user/security/risks/crvusd). ### Llamalend v2 is live on Ethereum URL: https://news.curve.finance/llamalend-v2-is-live-on-ethereum/ Last updated: 2026-07-15T16:24:35.000Z Llamalend v2 is now live on Ethereum, following its first production rollout on Optimism. The upgrade brings Curve’s liquidity and lending layers much closer together. A Curve pool can support secondary trading, oracle pricing and the routes needed to manage liquidations, while Llamalend adds borrowing and lending around that same onchain liquidity. The DEX pool and lending market can be built as parts of one market rather than two disconnected tracks. V2 also expands Curve lending beyond markets that require crvUSD on one side. It supports a wider range of borrowed assets and collateral types, including supported Curve LP tokens, allowing liquidity positions to be used as collateral. Every market remains isolated with its own oracle, parameters and caps. ### From Optimism to Ethereum Llamalend v2 first went live on Optimism in June. OP incentives helped the initial markets attract supply and borrowing quickly, while giving the contracts, frontend, oracles and reward infrastructure their first production test. The initial markets have operated normally to date. That rollout also gave the team time to work through the additional oracle validation and infrastructure changes required before deploying on Ethereum. Ethereum is the next planned phase. Initial markets will begin with zero borrow caps, and borrowing will open market by market after the Curve DAO approves the initial borrow caps. V2 also supports the gradual migration of selected v1 lending and crvUSD mint markets to newer infrastructure and expanded controls. ### Lending Built Around Liquidity Liquidity is not only what makes trading possible. It is also what makes a lending market viable. A market needs dependable pricing and enough depth to manage collateral when prices move. Where appropriate, a Curve pool can provide EMA-based oracle input and a liquid secondary venue for the collateral asset. Each Llamalend market also contains its own LLAMMA, which gradually converts between the collateral and borrowed asset across a price range. This creates tradeable liquidity that arbitrageurs and aggregators can access. For asset issuers, the same Curve liquidity can therefore support secondary trading, oracle pricing and a lending market around the asset. This can reduce the need to build and subsidize separate infrastructure for each function. It does not remove the need for real market depth, lender supply or borrowing demand. Those remain requirements for a healthy lending market. ### Flexible Markets, Isolated Exposure Llamalend v1 required crvUSD on one side of every lending market. V2 removes that restriction. Supported assets can now sit on either side, subject to suitable liquidity, oracle design and market parameters. Every market remains one-way and isolated. It has one collateral asset, one borrowed asset, and its own lender vault, interest-rate model, oracle, caps and risk settings. This gives lenders more precise exposure. They choose which asset they are supplying and exactly which collateral backs the borrowing in that market. Credit and collateral risk are contained within that market rather than shared across an unrelated group of assets. V2 also supports productive collateral and high-LTV configurations. Supported Curve LP tokens can secure a loan while the underlying pool position continues accruing trading fees. This lets users borrow against liquidity they are already providing instead of leaving positions in only one role. With this update, Llamalend becomes an ideal venue for yield farmers who want to use LP, yield-bearing, or principal tokens as collateral to amplify their earnings. ### What Range-Based Liquidation Actually Means LLAMMA remains a defining part of Llamalend, but it should be understood as a risk-management mechanism, not a guarantee against liquidation. Instead of waiting for one fixed liquidation price, a loan’s collateral is placed across a range of price bands. When the market enters that range, portions of the collateral are gradually converted into the borrowed asset. If the price recovers, part of that conversion may reverse. This can avoid an immediate, all-at-once liquidation, but losses can accumulate inside the range and the loan can still be hard-liquidated if its health reaches zero. Borrowers should treat entry into the range as a warning, not something to ignore. And where available in v2 markets, the new “position reset” feature allows you to use current converted collateral to move positions out of the range. For more detail, see Curve’s guides to [liquidations](https://docs.curve.finance/user/llamalend/guides/borrow/liquidation) and [custom bands](https://docs.curve.finance/user/llamalend/guides/borrow/custom-bands). ## The Ethereum Rollout The initial Ethereum markets will be announced alongside deployment and the corresponding governance proposals. Each market will launch with its borrow cap set to zero. Users will be able to supply assets, but borrowing will only open once the Curve DAO approves the initial caps. Curve governance proposals take approximately seven days from creation to execution. Base lending interest depends on utilization, so suppliers should not expect interest from borrowers until the caps are enabled. Any separate incentives will be displayed in the Curve interface. Borrow caps can then be raised progressively by governance as liquidity, demand and market behaviour become clearer. The objective is not to activate every possible asset pair immediately, but to grow markets where the pricing, liquidity and demand are strong enough to support them. Llamalend v2 is now deployed on Ethereum. Borrowing opens market by market as the first governance proposals pass. \[[Explore the markets](https://www.curve.finance/llamalend/ethereum/markets?chain=ethereum&version=v2)\] · \[[Follow the governance votes](https://www.curve.finance/dao/ethereum/proposals)\] ### Curve Best Yields & Key Metrics | Week 28, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-28-2026/ Last updated: 2026-07-09T10:59:50.000Z ## Market Overview Welcome to another weekly newsletter. Here's the news: - **TVL held at $1.43B (+0.4%)** \- a second week of stabilization after June's outflows. - Curve DAO opened a [Request for Proposals](https://twitter.com/CurveFinance/status/2074774184064946505) for a risk-assessment and market-monitoring team to replace Llamarisk after their departure. - **crvUSD minting got cheaper**: the average borrow rate eased from 5.5% to 3.3% as PegKeepers rebuilt $26.6M of reserves. - **Fees from Arbitrum and Base now flow** to the DAO treasury. - Curve [joined Money League](https://twitter.com/CurveFinance/status/2074542015371510148) as the standard liquidity infrastructure for all of the league's stable assets - veCRV holders can now activate Merit accounts. As always, see all the highlighted opportunities and weekly metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields. All yields are calculated assuming a minimum of $100k TVL.* ### Top USD Yields *Note: the VUSD pool rates come from fresh CRV gauge emissions following Vetro's VUSD rollout, and the frxUSD/USP rate is annualised from a small launch-phase pool (\~$135k of liquidity) - hence the cap.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x098697ba3fee4ea76294c5d6a466a4e3b3e95fe6.png)USP](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-802/deposit) | Pool | \>100% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-903/deposit) | Pool | 35.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-745/deposit) | Pool | 33.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-904/deposit) | Pool | 28.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 16.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf9d82660828d8f5d121b14a9dc9c677d91f60065.png)USST![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-699/deposit) | Pool | 16.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbf4e3fbe8b60062a00c7a6b1d97d0d49c2971a19.png)USPC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-797/deposit) | Pool | 15.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-895/deposit) | Pool | 14.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x476310e34d2810f7d79c43a74e4d79405bd7a925.png)sVUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-788/deposit) | Pool | 12.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://www.curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05) | Llamalend | 11.7% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 9.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 9.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 7.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 3.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 2.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-264/deposit) | BTC | 1.1% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 17.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 12.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 3.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-2/deposit) | TRICRYPTO | 2.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.2% | ### Top Llamalend Supply Yields *Optimism Llamalend V2 markets include live Merkl OP rewards: supply rates shown are base + Merkl. Rates on small markets move quickly with TVL.* | Chain | Market | Supply Rate | | -------- | --------------------------------------------------------------------------------------------------------- | ----------- | | Ethereum | [crvUSD/fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | 10.2% | | Arbitrum | [crvUSD/WBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-10/vault/deposit) | 8.6% | | Fraxtal | [crvUSD/sfrxUSD](https://curve.finance/lend/#/fraxtal/markets/one-way-market-1/vault/deposit) | 7.6% | | Arbitrum | [crvUSD/WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-9/vault/deposit) | 4.8% | | Ethereum | [crvUSD/WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | 2.6% | | Ethereum | [crvUSD/sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | 2.5% | | Ethereum | [crvUSD/WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | 2.1% | | Ethereum | [crvUSD/wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | 1.8% | | Optimism | [WETH/wstETH](https://www.curve.finance/lend/optimism/markets/0x745422BF49f3F6e4A8E12E4abD19339E7910F8C9) | 49.3% | | Optimism | [USDC/wstETH](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA) | 8.5% | | Optimism | [USDC/WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) | 8.3% | ## Weekly Metrics ### crvUSD & scrvUSD Minted crvUSD grew 4.2% to $31.3M, a third straight weekly increase, and PegKeepers rebuilt $26.6M of reserves as demand returned. With keeper capacity restored, the average borrow rate fell from 5.5% to 3.3% - cheaper, steadier credit for borrowers. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $31.3M | +4.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 3.9% | \-0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 64.3% | \-0.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9994 | +$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 3.3% | \-2.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $26.6M | +$26.6M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $3.09k | +$2.09k | ### Llamalend Lending grew again: TVL up 3.5% to $125M with collateral up 4.0%, and the loan count edged up to 1,030. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $125M | +3.5% | | 🦙 Supplied | $56.6M | \-1.8% | | 🦙 Borrowed | $72.9M | +0.2% | | 🦙 Collateral | $109M | +4.0% | | 🦙 Loans | 1030 | +3 | ### DEX Total fees jumped 14.1% to $250k as flow rotated toward higher-fee pools, while volume eased 3.6% to $808M. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $1.34B | +0.1% | | 🔄 Volume | $808M | \-3.6% | | 🔄 Swaps | 436k | \-2.1% | | 🔄 Total Fees | $250k | +14.1% | ### DAO A strong week for lockers: veCRV distribution jumped 50.3% to $106k and veCRV APR rose to 3.45%; total fees were up 14.1% this week. | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.53B | +0.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 855M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 785M | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $106k | +50.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 3.446% | +1.212% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $462k (2.22M CRV) | +8.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.821% | \-0.004% | ## Top Stableswap Pools USDG/USDC vaulted 17 places to take the top spot on $123.5M of volume, and [a live proposal](https://www.curve.finance/dao/ethereum/proposals/1449-ownership) would ramp its A parameter from 1000 to 3000, deepening liquidity around the peg. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +17 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $123.5M | $12.5k | | 2 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $83.3M | $12.5k | | 3 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $80.7M | $16.5k | | 4 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $48.7M | $4.9k | | 5 | \-4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $37.8M | $3.9k | | 6 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $35.8M | $3.6k | | 7 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $28.2M | $2.3k | | 8 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $27.0M | $2.7k | | 9 | \-5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $24.3M | $2.6k | | 10 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $24.1M | $516.1 | ## Top Cryptoswap Pools The tricrypto majors lead cryptoswap activity. Volumes shown are weekly totals. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $10.7M | $5.6k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $7.4M | $4.8k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $4.2M | $3.5k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $4.0M | $1.4k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xddc0f880ff6e4e22e4b74632fbb43ce4df6ccc5a.png)reUSDe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-169/deposit) | $1.4M | $479.1 | | 6 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $1.2M | $3.7k | ## Gauge Winners & Losers frxUSD/msUSD led gauge gains (+58.5k CRV of weekly emissions), with ETH+/WETH up from zero, while the two pmUSD pools saw the largest cuts. | 📍 | Chain | Pool / Market | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | $12.4M | 249k | +58.5k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | $8.79M | 35.5k | +35.5k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-35/deposit) | $49.7M | 149k | +22.1k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | $2.89M | 38.5k | \-31.4k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $10.6M | 140k | \-33.7k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $3.44M | 35.6k | \-35k | ## DEX Winners & Losers ### Fees Winners & Losers apxUSD/USDC led the week in fee growth (+$44.8k), while its sister pool apyUSD/apxUSD cooled after topping this table two weeks ago; changes are week-over-week (2 Jul → 9 Jul). | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-968/deposit) | $12.8M | $45.3k | +$44.8k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $123M | $12.5k | +$11.3k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8207c1ffc5b6804f6024322ccf34f29c3541ae26.png)OGN![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-323/deposit) | $1.09M | $4.36k | +$3.87k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $258k | $7.1k | \-$6.12k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $37.8M | $3.91k | \-$6.29k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-779/deposit) | $7.66M | $15.3k | \-$13.7k | ### Volume Winners & Losers USDG/USDC added $111M of weekly volume, with the pool's A-ramp proposal going live midweek; USDtb flows cooled to $37.8M after last week's $98.7M spike. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $123M | $12.5k | +$111M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $83.3M | $12.5k | +$22.3M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-968/deposit) | $12.8M | $45.3k | +$12.7M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-701/deposit) | $1.92M | $482 | \-$17.4M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $24.3M | $2.63k | \-$31.6M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $37.8M | $3.91k | \-$60.9M | ### TVL Winners & Losers Monad pools took the week's two largest TVL adds as the AUSD pairs keep absorbing stablecoin liquidity, while the TAC USD₮/WTAC pool saw the week's largest outflow. | 📍 | Chain | Pool | TVL | Change | | --- | ------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x00000000efe302beaa2b3e6e1b18d08d69a9012a.png)AUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x754704bc059f8c67012fed69bc8a327a5aafb603.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xe7cd86e13ac4309349f30b3435a9d337750fc82d.png)USDT0](https://curve.finance/dex/monad/pools/factory-stable-ng-2/deposit) | $3.13M | +$570k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x00000000efe302beaa2b3e6e1b18d08d69a9012a.png)AUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0d9d741fe423cd5419e4bcb6cb2ffa87afa93ba4.png)avUSD](https://curve.finance/dex/monad/pools/factory-stable-ng-26/deposit) | $3.62M | +$529k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/avalanche.png "Avalanche") | [Curve USD-BTC-ETH](https://curve.finance/dex/#/avalanche/pools/atricrypto/deposit) | $438k | +$321k | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x4917a5ec9fcb5e10f47cbb197abe6ab63be81fe8.png)AZND![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x00000000efe302beaa2b3e6e1b18d08d69a9012a.png)AUSD](https://curve.finance/dex/monad/pools/factory-stable-ng-0/deposit) | $43.5k | \-$54.1k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/avalanche.png "Avalanche") | [![](https://curve.finance/images/default-crypto.png)av3CRV![](https://curve.finance/images/default-crypto.png)avWBTC](https://curve.finance/dex/avalanche/pools/crypto-0/deposit) | $117k | \-$321k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/tac.png "Tac") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0xaf988c3f7cb2aceabb15f96b19388a259b6c438f.png)USD₮![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0xb63b9f0eb4a6e6f191529d71d4d88cc8900df2c9.png)WTAC](https://curve.finance/dex/tac/pools/factory-twocrypto-1/deposit) | $157k | \-$451k | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers wstETH and WBTC minters added \~$1.1M of new crvUSD debt; only the cbBTC market saw net repayment. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $14.8M | $7.64M | +$650k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $32.8M | $16.2M | +$486k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $3.03M | $1.64M | +$71.3k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $300k | $160k | +$178 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $2.62 | $1.06 | +$0.00263 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $1.86M | $1.18M | \-$15.4k | ### Lend Markets - Borrowing Winners & Losers WBTC (+$832k) and sUSDe (+$583k) led new borrowing, while the sfrxUSD market unwound $2.45M. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617) | $4.18M | $3.35M | +$832k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | $2.17M | $1.75M | +$583k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://www.curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05) | $384k | $384k | +$75.2k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) | $1.27M | $710k | \-$10.4k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0x745422BF49f3F6e4A8E12E4abD19339E7910F8C9) | $661k | $240k | \-$119k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $17.1M | $11.2M | \-$2.45M | ### Lend Markets - Supplying Winners & Losers sreUSD returned to the top of supply inflows (+$265k), while suppliers reversed last week's $601k move into sfrxUSD. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9) | $23.6M | $18.2M | +$265k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617) | $4.18M | $3.35M | +$143k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | $2.17M | $1.75M | +$66.5k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA) | $759k | $413k | \-$150k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) | $1.27M | $710k | \-$217k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $17.1M | $11.2M | \-$782k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Monthly Recap May–June 2026 URL: https://news.curve.finance/curve-monthly-recap-may-june-2026/ Last updated: 2026-07-08T14:12:48.000Z May and June delivered Curve's most significant lending release of the year, with Llamalend V2 launching on Optimism. Legacy V1 markets were deprecated across several chains, and crvUSD held its peg through a broad market drawdown. This combined issue covers both months and includes a partner spotlight on YieldBasis V3 update, an independent protocol building on Curve infrastructure. ## Key Highlights of May–June - Llamalend V2 launched on Optimism, with the first three isolated markets activated through governance and a 100K OP incentive campaign that briefly pushed borrow rates below zero - Lender protections expanded: a voluntary recovery pool for the CRV-long market, plus a veFunder gauge of up to 5M CRV for sDOLA-long2 borrowers - crvUSD held its peg within \~$0.997–1.000 through the market decline, with no depeg episode at any point - The share of crvUSD held in scrvUSD rose from \~36% to \~66%, deepening the peg's stability buffer - veCRV APR climbed to \~5.4% as volatility-driven DEX fees peaked near $1.21M in a single week - LlamaRisk concluded its Curve engagement on 30 June, returning its unvested crvUSD stream to the DAO treasury - CRV bridging resumed on Sonic, Avalanche, Fantom and Etherlink after April's precautionary LayerZero bridging pause Partner spotlight: - YieldBasis V3 markets went live with a reworked HybridVault architecture, and locked YB passed 100M tokens ## Llamalend V2: Isolated Lending Markets [Announced on 10 June](https://news.curve.finance/introducing-llamalend-v2/), Llamalend V2 extends Curve lending from a crvUSD-only system into a framework of isolated lending markets. The core changes: - With DAO approval, any supported asset can sit on either side of a market; crvUSD is no longer mandatory - Range-based LLAMMA liquidation protection is now available for all assets pending DAO vote - Curve LP tokens, yield-bearing vault tokens and principal tokens can now be used as collateral - Markets now carry an admin fee that flows to Curve DAO. For future crvUSD markets, part of the borrower cost may also be shared with asset issuers or curators, creating an additional incentive to build on crvUSD - Each market is fully isolated, with borrow caps starting at zero and raised in step with risk review work, subject to DAO approval ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/07/llv2_hero.png) Introducing Llamalend v2 — Curve News The launch is phased, beginning on Optimism before expanding to Ethereum mainnet. The first three markets (ETH/wstETH, wstETH/USDC and WBTC/USDC) were activated through governance in mid-June, backed by a 100K OP incentive campaign distributed via Merkl. The incentives had an immediate effect: with the OP campaign flowing through Merkl, early borrow rates on the new markets briefly turned negative: at one point borrowers were effectively paid over 50% APR to borrow against WBTC, with the wstETH/USDC market close behind. > LlamaLend V2 is live on [@Optimism](https://x.com/Optimism?ref%5Fsrc=twsrc%5Etfw). > New markets are open, with OP rewards for eligible positions distributed by [@merkl\_xyz](https://x.com/merkl%5Fxyz?ref%5Fsrc=twsrc%5Etfw). > Borrow, lend, or loop through isolated markets powered by Curve’s LLAMMA. > > Only on Curve — the home of stablecoins. [pic.twitter.com/EItbI3clfX](https://t.co/EItbI3clfX) > > — Curve Finance (@CurveFinance) [June 18, 2026](https://x.com/CurveFinance/status/2067525762240987566?ref%5Fsrc=twsrc%5Etfw) [Explore Llamalend V2 markets on Optimism](https://www.curve.finance/llamalend/optimism/markets/) ## crvUSD: Peg Holds Through Market Stress Both months brought a sustained market decline, and crvUSD's stabilisation layers were put to a real test. The peg passed it cleanly, trading between $0.9974 and $1.0001 across the entire period, with no depeg episode at any point. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/07/peg_chart.png) Daily crvUSD price, 1 May – 30 Jun 2026\. Source: prices.curve.finance - PegKeepers retired excess crvUSD from pools as leveraged positions unwound, helping keep the peg stable throughout the decline. - Borrowers de-risked into falling BTC and ETH, and the system absorbed the deleveraging smoothly, with soft-liquidations and peg defences working in tandem - The share of crvUSD held in scrvUSD climbed from \~36% to \~66%, with demand for the savings rate holding up even as minting shrank The contraction in borrowing reflected healthy deleveraging rather than stress on the peg. LLAMMA soft liquidations, PegKeepers and new YieldBasis V3 demand all helped keep crvUSD stable. ## Building Recovery in Public On 1 May, Curve opened a market-based recovery for lenders left with impaired claims in the CRV-long Llamalend market after the October 2025 crash. A dedicated crvUSD/cvcrvUSD pool lets affected lenders swap vault claims for liquid crvUSD at market pricing rather than only waiting, with three voluntary paths: exit, hold, or provide liquidity. Solvency was modelled against the CRV price: claims are modelled to begin recovering around \~$0.957, with full recovery modelled near \~$1.242, framed as gradual rather than guaranteed. Uptake was swift: within the first week the recovery pool drew $141k in liquidity, with over 3% of all vault tokens deposited. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/07/recovery_ui-1.png) The CRV Llamalend Recovery pool (crvUSD/cvcrvUSD) Separately, borrowers of the sDOLA-long2 market (impaired by a March exploit affecting 27 positions) were addressed through a dedicated veFunder fundraising gauge of up to 5M CRV ([Vote 1437](https://www.curve.finance/dao/ethereum/proposals/1437-ownership)). [Building recovery in public and building stronger systems nextAffected by the CRV-long LlamaLend market? A new approach could offer more flexibility — giving users the option to exit![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/size/w256h256/2024/11/CRV@2x.png)Curve News![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/size/w1200/2026/04/Building-rcovery-in-public.png)](https://news.curve.finance/building-recovery-in-public-and-building-stronger-systems-next/) ## Partner Spotlight: YieldBasis V3 YieldBasis, a protocol building BTC and ETH liquidity on top of Curve infrastructure, rolled out its V3 architecture during May and June, becoming one of the first protocols to deploy Curve’s upgraded FXSwap implementation in production. Approved through governance (Vote 1408), the new implementation reduces value lost to arbitrage during pool rebalances, improving LP returns and fee capture. Because these improvements are built into Curve itself, every future protocol building on FXSwap benefits from the same execution gains without requiring protocol-specific changes. YieldBasis V3 demonstrates how these primitives can be composed into higher-level products. Its upgraded HybridVaults pair the new FXSwap pools with a dedicated crvUSD allocation alongside crypto assets. Beyond reducing impermanent loss, the HybridVaults create persistent demand for crvUSD, acting as a long-term supply sink. Together with growing scrvUSD adoption, they represent another productive destination for crvUSD beyond borrowing alone. As more applications create sustained demand in this way, newly minted crvUSD is more readily absorbed by productive use cases rather than immediately returning to the market, supporting peg stability and helping maintain attractive borrowing conditions for future issuance. YieldBasis also optimized its HybridVault architecture by reducing the vault’s crvUSD allocation from 55% to 45%, completed post-audit improvements to its lending oracle with new EMA-smoothed pricing and pool-pressure components, and expanded its [analytics dashboard](https://yieldbasis.com/analytics) with live market PPS, LP returns, veYB revenue, gauge emissions and protocol fee tracking. By the end of June, more than 100 million YB had been locked. During the month’s elevated volatility, the upgraded FXSwap pools processed increased trading activity while YieldBasis continued to create structural demand for Curve liquidity and crvUSD. YieldBasis V3 demonstrates how protocols can build differentiated products on top of Curve’s primitives while reinforcing the broader ecosystem through additional trading volume, fee generation and sustained demand for crvUSD. > These [@yieldbasis](https://x.com/yieldbasis?ref%5Fsrc=twsrc%5Etfw) users seemingly earn 20-30% APR on ETH (thanks to volatility) while earning 5% on USD (thanks to [@CurveFinance](https://x.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw)) at the same time [pic.twitter.com/zCX0XaQL0F](https://t.co/zCX0XaQL0F) > > — Michael Egorov (@newmichwill) [June 9, 2026](https://x.com/newmichwill/status/2064415632322384381?ref%5Fsrc=twsrc%5Etfw) ## Llamalend V1 Deprecation Ahead of V2, LlamaRisk coordinated a sweep to deprecate idle and legacy Llamalend V1 markets across four chains. A series of votes raised loan discounts to 50%, swapped monetary policies to flatter curves, and killed unused gauges on Optimism ([Vote 1409](https://www.curve.finance/dao/ethereum/proposals/1409-ownership)), Fraxtal ([Vote 1410](https://www.curve.finance/dao/ethereum/proposals/1410-ownership)), Arbitrum ([Vote 1414](https://www.curve.finance/dao/ethereum/proposals/1414-ownership)) and Ethereum (Votes [1416](https://www.curve.finance/dao/ethereum/proposals/1416-ownership) and [1422](https://www.curve.finance/dao/ethereum/proposals/1422-ownership)). Active markets were left untouched, while inactive markets were gradually wound down ahead of the broader migration to Llamalend V2. ## Security: vsdCRV Incident Response On 27 May, StakeDAO's vsdCRV token suffered an exploit. No Curve contracts were affected, but the incident touched the crvUSD/asdCRV Llamalend market on Arbitrum, where asdCRV serves as collateral. The response was same-day: Curve publicly advised borrowers to repay and exit the market, prompting a controlled exit with the largest single repayment at $417k, and governance killed CRV emissions for the related pool and market ([Vote 1418](https://www.curve.finance/dao/ethereum/proposals/1418-ownership)). StakeDAO has since opened a compensation programme for affected holders. ## Pool Parameters and Incentives TricryptoUSDT (USDT/WBTC/WETH) was re-parameterised ([Vote 1412](https://www.curve.finance/dao/ethereum/proposals/1412-ownership)), ramping its A parameter and committing new fees. According to Curve’s weekly reporting, the pool generated roughly three times the fees of TricryptoUSDC during its first three days. FXSwap also received an upgraded pool implementation ([Vote 1408](https://www.curve.finance/dao/ethereum/proposals/1408-ownership)), reducing value lost to arbitrage during rebalances; YieldBasis pools are among the first to benefit. The alETH pools likewise underwent A parameter ramps. Optimisations like these improve LP and veCRV returns while preserving a competitive execution. Around twenty new gauges were added across May and June, spanning frxUSD pairs, Tangent Finance’s USG (a stablecoin designed around crvUSD), Vetro’s VUSD suite—which also launched on StakeDAO in partnership with Curve—and pools from 3Jane, Avant and others. A Curve Strategic BTC Reserves pool and a new MIM-2pool gauge rounded out the additions. Fidelity’s tokenised money market fund, $FIDD, also began trading in [Curve pools](https://x.com/CurveFinance/status/2065167447527743797). [](https://x.com/vetro%5Forg/status/2070184713994514604) > VUSD / crvUSD and crvUSD / sVUSD are live on [@StakeDAOHQ](https://x.com/StakeDAOHQ?ref%5Fsrc=twsrc%5Etfw). > > Provide liquidity and earn rewards, in partnership with [@CurveFinance](https://x.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw). > > Links below. [pic.twitter.com/7ZMxIjMysu](https://t.co/7ZMxIjMysu) > > — Vetro (@vetro\_org) [June 25, 2026](https://x.com/vetro%5Forg/status/2070184713994514604?ref%5Fsrc=twsrc%5Etfw) ## Cross-Chain and Treasury CRV bridging resumed across all previously paused networks. Curve had [paused its LayerZero bridge infrastructure in April](https://x.com/CurveFinance/status/2045868949892378783) as a precaution after the rsETH LayerZero exploit, and with the review complete the DAO re-enabled bridges on Sonic and Avalanche ([Vote 1402](https://www.curve.finance/dao/ethereum/proposals/1402-ownership)), then Fantom and Etherlink, with conservative 10K CRV limits per chain ([Vote 1439](https://www.curve.finance/dao/ethereum/proposals/1439-ownership)). The Fantom unpause was timely: the Fantom Opera network was retired on 30 June, and Curve urged remaining LPs to withdraw ahead of the shutdown. On the treasury side, a [proposal](https://gov.curve.finance/t/redirect-arbitrum-and-base-l2-fees-to-the-curve-dao-treasury/11100?%5F%5Fcf%5Fchl%5Ff%5Ftk=BTeTPhKkkgq0zIaK.Wxuw0XUs3AZNkqDHRJhaRK1oOU-1783444557-1.0.1.1-i9PyjJNdVg6kN3IMjTkqTOLhUzi35SI7a7CrEDzS1FU) to redirect Arbitrum and Base L2 fees to the DAO's treasury passed, alongside routine emissions cleanup on deprecated pools. ## Curve at Stable Summit: NYC On 4 June, Curve hosted Stable Summit IV: NYC, gathering the stablecoin builders shaping DeFi market structure, a follow-up to the Cannes edition covered in the March recap. The event reinforced Curve’s role as infrastructure for stablecoins, productive liquidity and protected borrowing. > A mistake many stablecoin issuers can run into after launch. > > Maximilian Roszko ( [@MaxRoszko](https://x.com/MaxRoszko?ref%5Fsrc=twsrc%5Etfw) ) from [@CurveFinance](https://x.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw) on why product market fit is the metric worth optimising for first: [pic.twitter.com/2WR51YNWhv](https://t.co/2WR51YNWhv) > > — Stable Summit 🦫 (@stable\_summit) [June 25, 2026](https://x.com/stable%5Fsummit/status/2070134171675320725?ref%5Fsrc=twsrc%5Etfw) ## LlamaRisk Concludes Its Curve Engagement LlamaRisk announced it would conclude its Curve engagement, effective 30 June, as it takes up an expanded mandate as Aave's sole external risk provider. After years of risk work across crvUSD, Llamalend and pool listings, the team departs with the DAO's thanks and returned the unvested remainder of its crvUSD stream to the treasury ([Vote 1441](https://www.curve.finance/dao/ethereum/proposals/1441-ownership)). ## veCRV: Fees and Revenues For CRV lockers, volatility translated into revenue. DEX fees came to \~$1.87M in May and \~$2.68M in June; weekly fees peaked near $491k in May and $1.21M during the sharpest selloff week in early June. veCRV APR climbed to \~5.4%, with weekly distributions to veCRV averaging \~$114k in May and \~$138k in June. Looking ahead, Michael Egorov signalled more crvUSD-friendly veCRV votes on the way. [](https://x.com/newmichwill/status/2070862639178166759) > Some crvUSD-friendly veCRV votes incoming, I am hearing > > — Michael Egorov (@newmichwill) [June 27, 2026](https://x.com/newmichwill/status/2070862639178166759?ref%5Fsrc=twsrc%5Etfw) [Lock CRV](https://www.curve.finance/dao/ethereum/vecrv/create/) ## Conclusion Across May and June, borrowers briefly enjoyed negative borrow rates on Llamalend V2, veCRV APR climbed to around 5.4% on record fee generation, new pools and gauges expanded the ecosystem, and crvUSD maintained its peg throughout the market downturn. As Llamalend V2 expands from Optimism to Ethereum mainnet, isolated lending markets, broader collateral support and new DAO revenue streams position Curve for its next phase of growth as core liquidity infrastructure for stablecoins. ### Curve Best Yields & Key Metrics | Week 27, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-27-2026/ Last updated: 2026-07-02T14:20:52.000Z ## Market Overview Where did the first half of 2026 go? Welcome to Q3, markets and Curve seem to be stabilizing, with only minor news this week: - TVL is down 3.1% to $1.394B - Admin fees increased from 1% to [10% on Optimism Llamalend v2](https://www.curve.finance/dao/ethereum/proposals/1442-ownership) markets - The DAO voted to send over [$1M in unclaimed L2 fees to the treasury](https://www.curve.finance/dao/ethereum/proposals/1445-ownership) - LlamaRisk has now formally concluded its engagement with Curve. We wish them all the best. As always, see all the highlighted yields and metrics below. **A quick personal note:** Sorry about missing last week's report. Time has been a bit tight lately, and I've found it difficult to keep up. Thankfully, Nik has stepped up and will be taking over from next week. I'd like to thank Nik, and thank everyone who's been reading these newsletters over the years. I really appreciate your support. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Other Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* *Note: the frxUSD/USP pool below has locked pre-market incentives, currently valued at well over 100% yield.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x098697ba3fee4ea76294c5d6a466a4e3b3e95fe6.png)USP](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-802/deposit) | Pool | \>100% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-903/deposit) | Pool | 35.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-745/deposit) | Pool | 33.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-904/deposit) | Pool | 28.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 16.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf9d82660828d8f5d121b14a9dc9c677d91f60065.png)USST![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-699/deposit) | Pool | 16.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbf4e3fbe8b60062a00c7a6b1d97d0d49c2971a19.png)USPC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-797/deposit) | Pool | 15.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-895/deposit) | Pool | 14.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x476310e34d2810f7d79c43a74e4d79405bd7a925.png)sVUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-788/deposit) | Pool | 13.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://www.curve.finance/lend/fraxtal/markets/0xB4EbF87A474569d8eB7f7182B4beBD8aE79ae675) | Llamalend | 12.5% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 9.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 8.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-303/deposit) | ETH | 8.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 3.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 2.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-264/deposit) | BTC | 1.1% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 17.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 10.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 9.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 3.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 3.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.3% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD continues to hold its peg well, with its automated market dynamics keeping the system stable as supply ticks up slightly. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $30.1M | +1.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 4.1% | +2.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 65.1% | +1.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9993 | +$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 5.5% | +3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $0 | \-$349k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $1k | \-$443 | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics were largely unchanged this week, with activity continuing to stabilize. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $121M | +1.2% | | 🦙 Supplied | $57.7M | \-1.4% | | 🦙 Borrowed | $72.7M | +0.2% | | 🦙 Collateral | $105M | +1.3% | | 🦙 Loans | 1027 | \- | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) saw slightly lower trading volume this week, but fees, swaps, and TVL all remained relatively stable, with a greater share of swaps occurring in higher-fee pools. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.34B | \-3.0% | | 🔄 Volume | $838M | \-18.5% | | 🔄 Swaps | 445k | \-6.2% | | 🔄 Total Fees | $219k | \-6.4% | ### DAO veCRV holders saw a slight increase in fee distributions this week, while the USD value of CRV emissions declined alongside the CRV price. | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.53B | +0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 855M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 783M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $70.3k | +10.6% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 2.234% | +0.072% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $425k (2.22M CRV) | \-9.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.826% | \-0.005% | ## Top Stableswap Pools There was a big shake-up among the top Stableswap pools by volume this week, with more newcomers than usual. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | +6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $98.7M | $10.2k | | 2 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $70.3M | $14.1k | | 3 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $61.0M | $9.1k | | 4 | +16 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $55.9M | $6.2k | | 5 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $40.7M | $4.1k | | 6 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $34.8M | $3.5k | | 7 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-789/deposit) | $25.8M | $2.6k | | 8 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $25.3M | $2.5k | | 9 | +9 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $23.3M | $568.4 | | 10 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-793/deposit) | $20.9M | $3.6k | ## Top Cryptoswap Pools By volume the TricryptoUSDC pool won the week, however with its new parameters the [TricryptoUSDT pool](https://www.curve.finance/dex/ethereum/pools/0xf5f5b97624542d72a9e06f04804bf81baa15e2b4/deposit) continues to outperform with $13.2k fees on $633k volume. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $19.2M | $9.3k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $19.2M | $9.1k | | 3 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $4.1M | $1.4k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $3.6M | $2.1k | | 5 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xddc0f880ff6e4e22e4b74632fbb43ce4df6ccc5a.png)reUSDe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-169/deposit) | $2.9M | $1.4k | | 6 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-2/deposit) | $2.0M | $3.3k | ## Gauge Winners & Losers It was an off week for Convex's gauge votes, so only small changes were seen, with msETH the largest winner. | 📍 | Chain | Pool / Market | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $10.6M | 174k | +2.84k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | $2.23M | 13.6k | +2k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xca83dde9c22254f58e771be5e157773212acbac3.png)VUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-904/deposit) | $65.8k | 4.71k | \- | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | $812k | 20k | \-814 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3.png)MIM![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/mim/deposit) | $1.39M | 13k | \-1.65k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-518/deposit) | $1.19M | 9.9k | \-1.69k | ## DEX Winners & Losers ### Fees Winners & Losers Ethena's USDtb pool led the week in trading volume, while the apyUSD/apxUSD pool remained the top fee earner despite being the week's biggest loser, generating $29.1k in swap fees. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $98.7M | $10.2k | +$6.97k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $55.9M | $6.16k | +$4.55k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $19.2M | $9.33k | +$3.86k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $40.7M | $4.07k | \-$2.29k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $61M | $9.15k | \-$5.42k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-779/deposit) | $14.5M | $29.1k | \-$6.99k | ### Volume Winners & Losers Ethena's USDtb pool also led the week in trading volume, while USDS/PYUSD volume declined after Spark removed its liquidity as part of a change in liquidity strategy. We wish the Spark team all the best and hope to see them back soon. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $98.7M | $10.2k | +$66.6M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $55.9M | $6.16k | +$42.5M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $70.3M | $14.1k | +$11.1M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $9.65M | $651 | \-$26.5M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $61M | $9.15k | \-$36.2M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $3.02M | $31.5 | \-$134M | ### TVL Winners & Losers There were no major changes in TVL this week. RLUSD continued its recent week-to-week fluctuations and saw net outflows, while PYUSD/USDC recorded the largest inflows, possibly driven by increased demand for PYUSD following Spark's liquidity withdrawal. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $46M | +$2.6M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x056b269eb1f75477a8666ae8c7fe01b64dd55ecc.png)USD3](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-906/deposit) | $2.87M | +$1.29M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-365/deposit) | $43.6M | +$1.1M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-253/deposit) | $7.48M | \-$2.69M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $64.2M | \-$2.74M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $71.6M | \-$6.7M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers WBTC was the clear winner this week, with no other major market changes. Are people getting bullish on BTC again? | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $31.1M | $15.8M | +$470k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $12.4M | $6.99M | +$7.75k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $267k | $154k | +$155 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $1.8M | $1.2M | \-$1.24k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $4.64M | $3.13M | \-$25.8k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $2.74M | $1.57M | \-$56.8k | ### Lend Markets - Borrowing Winners & Losers There appear to have been a couple of notable rotations this week, with liquidity seemingly moving from sUSDe to sfrxUSD. It's also possible that some of the WBTC liquidity outflow found its way into the WBTC/crvUSD minting market. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $17.8M | $13.6M | +$871k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) | $1.49M | $721k | +$65.7k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA) | $909k | $413k | +$46.4k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://www.curve.finance/lend/arbitrum/markets/0xB5c6082d3307088C98dA8D79991501E113e6365d) | $405k | $212k | \-$15.9k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/lend/ethereum/markets/0xcaD85b7fe52B1939DCEebEe9bCf0b2a5Aa0cE617) | $4.03M | $2.52M | \-$435k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | $2.11M | $1.16M | \-$774k | ### Lend Markets - Supplying Winners & Losers Hello to the new Llamalend v2 markets on optimism, which saw strong inflows this week. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://www.curve.finance/lend/ethereum/markets/0x3DE37c38739dFb83b7A902842bF5393040f7BF50) | $17.8M | $13.6M | +$601k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x0b2c639c533813f4aa9d7837caf62653d097ff85.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) | $1.49M | $721k | +$278k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0x745422BF49f3F6e4A8E12E4abD19339E7910F8C9) | $780k | $359k | +$148k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://www.curve.finance/lend/ethereum/markets/0x8035b16053560b3C351b665b10f6C7dBDb6A1E05) | $456k | $309k | \-$241k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/0xB536FEa3a01c95Dd09932440eC802A75410139D6) | $2.11M | $1.16M | \-$245k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9) | $23.4M | $18.2M | \-$1.25M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 25, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-25-2026/ Last updated: 2026-06-18T14:16:43.000Z ## Market Overview Welcome to another weekly newsletter. Here's the news: - [LlamalendV2 markets are live on Optimism!](https://x.com/CurveFinance/status/2067525762240987566) - Merkl rewards for OP tokens are also live for the new markets, so you can **get paid to borrow or supply,** see below - TVL has stabilized at $1.653B, up 0.2% since last week See all the highlighted opportunities and weekly metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### New Llamalend V2 Markets These are the new Llamalend V2 markets, those negative rates are not to confuse you, currently you can **get paid >50% to borrow against your WBTC!** Chain Market Borrow Rate Supply Rate ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) **\-54.0%** 29.6% ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA) **\-37.5%** 21.7% ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x1f32b1c2345538c0c6f582fcb022739c4a194ebb.png)wstETH](https://www.curve.finance/lend/optimism/markets/0x745422BF49f3F6e4A8E12E4abD19339E7910F8C9) **\-17.9%** 16.6% ### Other Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* *Note: the frxUSD/USP pool below has locked pre-market incentives, currently valued at well over 100% yield.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x098697ba3fee4ea76294c5d6a466a4e3b3e95fe6.png)USP](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-802/deposit) | Pool | \>100% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-590/deposit) | Pool | 22.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbf4e3fbe8b60062a00c7a6b1d97d0d49c2971a19.png)USPC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-797/deposit) | Pool | 21.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-895/deposit) | Pool | 18.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 17.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-771/deposit) | Pool | 12.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf17d6f98a5c6eaa99d149079984119e0a4ef6900.png)sUSG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5086bf358635b81d8c47c66d1c8b9e567db70c72.png)reUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-909/deposit) | Pool | 12.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf4c13d631450de6b12a19829e37c8e2826891dc4.png)avUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-795/deposit) | Pool | 10.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-786/deposit) | Pool | 10.3% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 15.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdbecd077c1c2fefdcb75f547d1b5a73bf8207e4c.png)evaETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-816/deposit) | ETH | 12.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 9.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 2.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 2.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-264/deposit) | BTC | 1.3% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 16.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 14.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 13.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 6.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.1% | ## Weekly Metrics ### crvUSD & scrvUSD The peg is strong, PegKeepers are filling and profiting, however borrowers continue to reduce their positions to trim their risk. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $27.6M | \-24.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 3.4% | \-2.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 74.8% | +14.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9997 | +$0.0004 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 3.0% | \-2.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $33.8M | +$33.8M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $2.58k | +$1.76k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) mirrors the drawdown in minted crvUSD markets, with loans and collateral supplied decreasing, and suppliers leaving as crvUSD supply reduces. | Metric | Value | Change | | ---------------- | ------ | ------- | | 🦙 Llamalend TVL | $116M | \-9.3% | | 🦙 Supplied | $55.6M | \-2.3% | | 🦙 Borrowed | $69M | \-11.4% | | 🦙 Collateral | $101M | \-9.5% | | 🦙 Loans | 968 | \-5 | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) still had a great week. However, numbers are down from last week's huge volumes and fees. Positively, TVL increased. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.62B | +1.9% | | 🔄 Volume | $1.09B | \-53.6% | | 🔄 Swaps | 493k | \-41.0% | | 🔄 Total Fees | $233k | \-60.2% | ### DAO The DAO saw another week of veCRV APR being larger than inflation, it also saw a huge increase in the value of emissions through the increase in CRV price. | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.53B | +0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 853M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 786M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $182k | \-4.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 5.4% | +0.319% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $534k (2.22M CRV) | +24.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.835% | \-0.005% | ## Top Stableswap Pools USDtb and NUSD were the big movers this week in the stableswap position rankings by volume. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $195.0M | $2.3k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $86.2M | $12.9k | | 3 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $56.9M | $5.7k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $50.6M | $859.0 | | 5 | +15 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $49.6M | $5.0k | | 6 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $41.5M | $4.1k | | 7 | +15 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $39.1M | $4.1k | | 8 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $38.7M | $3.9k | | 9 | \-5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $37.9M | $860.4 | | 10 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $35.1M | $2.8k | ## Top Cryptoswap Pools This week these pools are sorted by fees to showcase how the new TricryptoUSDT parameters have changed the fee generation and yield for depositors. We can see how a simple parameter change has increased fee generation by over 3x compared to similar pools! | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $675.0k | $18.1k | | 2 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xaf5191b0de278c7286d6c7cc6ab6bb8a73ba2cd6.png)STG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-crypto-37/deposit) | $4.7M | $15.8k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $10.9M | $5.6k | | 4 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $10.1M | $5.6k | | 5 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $1.5M | $4.9k | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $5.7M | $4.0k | | 7 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-2/deposit) | $510.3k | $2.1k | | 8 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $577.7k | $2.1k | | 9 | +10 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/factory-crypto-234/deposit) | $278.2k | $1.0k | | 10 | +6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $2.6M | $937.0 | ## DEX Winners & Losers ### Fees Winners & Losers The STG cryptoswap pool won the week for fee increases, however there were many large fee decreases this week compared to last week's huge volumes. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xaf5191b0de278c7286d6c7cc6ab6bb8a73ba2cd6.png)STG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-crypto-37/deposit) | $4.66M | $15.8k | +$5.04k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $49.6M | $5.02k | +$2.88k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $39.1M | $4.09k | +$2.13k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $86.2M | $12.9k | \-$16.6k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-701/deposit) | $17.7M | $3.04k | \-$18.3k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-779/deposit) | $7.06M | $14.2k | \-$74.5k | ### Volume Winners & Losers USDtb and NUSD are the winners for volume growth, both doubling compared to the previous 7 days. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $49.6M | $5.02k | +$28.4M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $39.1M | $4.09k | +$20M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8d0d000ee44948fc98c9b98a4fa4921476f08b0d.png)USD1![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-553/deposit) | $9.44M | $182 | +$4.91M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $37.9M | $860 | \-$111M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $50.6M | $859 | \-$139M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $195M | $2.29k | \-$189M | ### TVL Winners & Losers PegKeepers are deploying and filling into the crvUSD/USDT pool. It's also great to see the TVL of the Curve.fi strategic USD reserves pool (USDC/USDT) almost double. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $53M | +$36.6M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $9.87M | +$4.34M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $72M | +$3.58M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-252/deposit) | $24.9M | \-$2.7M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbf4e3fbe8b60062a00c7a6b1d97d0d49c2971a19.png)USPC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-797/deposit) | $572k | \-$5.28M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $70.9M | \-$6.86M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers WBTC, cbBTC and sfrxETH saw small inflows, but these were eclipsed by outflows from tBTC and wstETH. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $29.7M | $14.2M | +$445k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $1.91M | $1.2M | +$126k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $2M | $1.12M | +$79.6k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $2.71 | $1.06 | +$0.00279 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $4.79M | $3.18M | \-$505k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $9.9M | $5.46M | \-$8.97M | ### Lend Markets - Borrowing Winners & Losers Some rotations seem to be happening between minting and lending markets as wstETH borrowers went from minting to lending and sfrxETH went from lending to minting. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $940k | $720k | +$39.6k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $4.03M | $2.9M | +$37.7k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $17.3M | $12.5M | +$11.5k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $24.4M | $18.2M | \-$15.7k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $706k | $447k | \-$27.5k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/lend/#/fraxtal/markets/one-way-market-0/vault/deposit) | $88.3k | $0.01 | \-$89.9k | ### Lend Markets - Supplying Winners & Losers Large supply withdrawals happened from many stablecoin markets, while some supply did rotate to facilitate new borrows from select markets. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $519k | $306k | +$57.8k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $940k | $720k | +$52.8k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-9/vault/deposit) | $468k | $235k | +$51.9k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $24.4M | $18.2M | \-$336k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.45M | $2.1M | \-$395k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $17.3M | $12.5M | \-$434k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 24, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-24-2026/ Last updated: 2026-06-11T12:26:30.000Z ## Market Overview It was a horrible week for all markets, including Crypto and DeFi, but there's exciting news for Curve, here it is: - TVL decreased 5.9% to $1.638B. - [Llamalend V2 has been released](https://news.curve.finance/introducing-llamalend-v2/), with governance voting underway to [set initial debt limits and admin fees](https://www.curve.finance/dao/ethereum/proposals/1436-ownership) for three markets on Optimism. - The initial Optimism rollout also includes [100k OP incentives](https://www.curve.finance/dao/ethereum/proposals/1433-ownership) for borrowing and lending. As always, continue reading for this week's highlighted opportunities and metrics. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* *Note: the frxUSD/USP pool below has locked pre-market incentives, currently valued at well over 100% yield.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x098697ba3fee4ea76294c5d6a466a4e3b3e95fe6.png)USP](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-802/deposit) | Pool | \>100%\* | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-590/deposit) | Pool | 17.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 14.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf4c13d631450de6b12a19829e37c8e2826891dc4.png)avUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-795/deposit) | Pool | 12.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb8d89678e75a973e74698c976716308abb8a46a4.png)savUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-655/deposit) | Pool | 12.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-771/deposit) | Pool | 10.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-297/deposit) | Pool | 9.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-786/deposit) | Pool | 9.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-794/deposit) | Pool | 8.5% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 7.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 6.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 5.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 2.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 1.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/base/pools/factory-stable-ng-317/deposit) | BTC | 1.6% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 10.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-283/deposit) | CRV | 10.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 6.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 4.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 3.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.4% | ## Weekly Metrics ### crvUSD & scrvUSD The market drawdown led borrowers to significantly reduce positions, lowering the minted supply of crvUSD while increasing borrowing rates and scrvUSD yield. The crvUSD price remained firm at $1.00. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $36.4M | \-30.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 5.5% | +3.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 60.8% | +22.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9993 | +$0.0009 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 5.5% | \-0.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $0 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $818 | \-$280 | ### Llamalend The drawdown in crvUSD supply caused [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics to decline. However, with the [release of Llamalend V2](https://news.curve.finance/introducing-llamalend-v2/), new minting and lending markets are expected soon. | Metric | Value | Change | | ---------------- | ------ | ------- | | 🦙 Llamalend TVL | $127M | \-15.8% | | 🦙 Supplied | $56.9M | \-4.1% | | 🦙 Borrowed | $77.8M | \-17.6% | | 🦙 Collateral | $112M | \-16.5% | | 🦙 Loans | 973 | \-24 | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) had a huge week, with LPs benefiting from elevated market volatility. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.59B | \-4.8% | | 🔄 Volume | $2.35B | +54.7% | | 🔄 Swaps | 836k | +118.5% | | 🔄 Total Fees | $586k | +64.0% | ### DAO The DAO had a strong week, with veCRV APR once again moving above the inflation rate. | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.52B | +0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 854M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 787M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $190k | +65.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 5.081% | +1.165% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $431k (2.22M CRV) | \-8.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.839% | \-0.005% | ## Top Stableswap Pools There were a few changes in pool activity this week. The USDC/USDT Strategic Reserves pool saw the biggest position increase, while the usual core assets remained the most popular overall. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $384.1M | $4.1k | | 2 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $196.9M | $29.5k | | 3 | +17 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $189.8M | $2.9k | | 4 | +12 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $148.8M | $2.6k | | 5 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-701/deposit) | $117.8M | $21.4k | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $87.8M | $8.8k | | 7 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-897/deposit) | $79.8M | $40.0k | | 8 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $76.5M | $7.6k | | 9 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $70.6M | $7.1k | | 10 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $52.0M | $4.2k | ## Top Cryptoswap Pools The top cryptoswap pools were mostly unchanged, although Base's WETH/cbETH pool saw the largest jump in ranking. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $33.8M | $18.2k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $28.9M | $15.6k | | 3 | +6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://curve.finance/dex/#/base/pools/factory-crypto-1/deposit) | $6.2M | $2.3k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $5.9M | $4.5k | | 5 | +8 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-2/deposit) | $3.2M | $6.8k | | 6 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xaf5191b0de278c7286d6c7cc6ab6bb8a73ba2cd6.png)STG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-crypto-37/deposit) | $3.1M | $10.8k | ## DEX Winners & Losers ### Fees Winners & Losers The apyUSD/apxUSD pool was the highest DAO revenue generator this week, with $88.7k in total fees. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-897/deposit) | $79.8M | $40k | +$19.7k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-779/deposit) | $43.2M | $88.7k | +$12.8k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $197M | $29.5k | +$11.3k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $26.9M | $2.78k | \-$5.37k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $45.4M | $9.25k | \-$6.92k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $21.1M | $2.14k | \-$13k | ### Volume Winners & Losers The USDC/USDT Strategic Reserves pool led the week in added volume, narrowly ahead of several USDS pools. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $190M | $2.89k | +$170M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $384M | $4.09k | +$158M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $149M | $2.61k | +$116M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $45.4M | $9.25k | \-$34.3M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $26.9M | $2.78k | \-$41.8M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $21.1M | $2.14k | \-$125M | ### TVL Winners & Losers The [YieldBasis](https://yieldbasis.com/earn) crvUSD/WETH pool led the week in added TVL, supported by its large 31% organic trading yield. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-368/deposit) | $14.8M | +$11.4M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-789/deposit) | $20.7M | +$4.09M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $49.8M | +$2.85M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $43.1M | \-$7.85M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $45.9M | \-$13M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-701/deposit) | $4.7M | \-$39.4M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers There were mostly large outflows this week as borrowers reduced risk, especially in staking and restaking token markets. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $3.18M | $2.05M | +$116k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $268k | $153k | +$358 | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $2.63 | $1.05 | +$0.00371 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $28.4M | $13.8M | \-$1.69M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $21.6M | $14.4M | \-$3.71M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $305k | $172k | \-$10M | ### Lend Markets - Borrowing Winners & Losers There were no significant changes this week across lending markets, with the biggest relative reduction being $200k in the WBTC market. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.85M | $2.1M | +$46.6k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $17.7M | $12.5M | +$19k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-9/vault/deposit) | $416k | $236k | +$3.5k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/lend/#/fraxtal/markets/one-way-market-0/vault/deposit) | $181k | $89.9k | \-$102k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $4.03M | $2.86M | \-$216k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $24.7M | $18.2M | \-$218k | ### Lend Markets - Supplying Winners & Losers fxSAVE saw the largest outflow relative to its size, while the asdCRV market continued to wind down and is now nearly complete. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $887k | $680k | +$40.1k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $4.03M | $2.86M | +$19.2k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x11cdb42b0eb46d95f990bedd4695a6e3fa034978.png)CRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-4/vault/deposit) | $58k | $18.9k | +$17.1k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $120k | $11.4k | \-$177k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $461k | $306k | \-$247k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $24.7M | $18.2M | \-$1.58M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Introducing Llamalend v2 URL: https://news.curve.finance/introducing-llamalend-v2/ Last updated: 2026-06-10T13:32:20.000Z In early 2024, Curve launched Llamalend, a non-custodial lending infrastructure powering Curve’s decentralized stablecoin crvUSD. One central idea behind its design was to replace fixed-price liquidation mechanics with a range-based liquidation system. Most DeFi lending protocols liquidate at a single threshold. When collateral value falls to that point, the position is closed, and the collateral is sold. If many positions share similar thresholds, this concentrates selling pressure during the same market move. Prices fall, more positions become unsafe, and liquidation pressure feeds into itself. That is what Llamalend was designed to address. The key change is that **liquidation is not treated as one event occurring at one price**. Each position has a liquidation range. When collateral value enters that range, the system gradually converts collateral into the borrowed asset, rather than closing the position all at once. This gives borrowers **more time to react** during fast-moving markets and reduces the risk of instant, cliff-edge liquidations. DeFi power users can even benefit from **close to full recovery** on bounces. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/06/image-5.png) With most DeFi lending protocols, liquidation happen at fixed price, especially dangerous for borrowers during volatile events. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/06/image-6.png) With Curve's LLAMMA liquidation happens gradually within the liquidation zone, giving borrowers more time during volatile events, or even partial recovery if markets recover above the liquidation threshold. Recent market stress has reinforced why this matters. Lending markets are tested when prices move quickly, liquidity thins, and liquidations become harder to manage. Llamalend v2 builds from that reality. It extends the protocol beyond crvUSD borrowing into a broader system of isolated lending markets, with more supported assets, more collateral types, and a closer connection to Curve liquidity. Under isolation, each market carries its own risk parameters, keeping exposure contained and giving both users and asset issuers a more precisely configured lending environment. ## Llamalend v2 turns Llamalend from a crvUSD-focused lending system into a broader framework for Curve markets. ## From crvUSD-only to Open Lending Markets Llamalend v1 was built around crvUSD as the borrowed asset. That made it useful for crvUSD-native lending and bootstrapping crvUSD liquidity, but limited Llamalend’s reach. Asset issuers with their own tokens, protocols building around non-crvUSD pairs, borrowers who needed other assets did not have a straight path through Llamalend. Llamalend v2 removes that restriction. **Range-based liquidation protection is now available for all supported assets by default.** With the DAO's approval, markets can now be created with supported assets on both sides: one as collateral, the other as the borrowed asset, without making crvUSD mandatory. For asset issuers, this creates a clearer path from liquidity to lending. An issuer can build trading liquidity on Curve, then create a lending market around the same asset. This enables them to have both primary and secondary markets in one venue and benefit from Curve's trusted infrastructure for all Users who hold the asset can borrow against it, making the asset more useful, supporting borrowing demand, and helping liquidity become more durable. The DEX and the lending market become parts of the same usage loop. For the Curve DAO, the removal of the crvUSD requirement also changes the economics. Non-crvUSD markets will be able to carry an admin fee that flows to the Curve DAO, giving Llamalend a clearer role in Curve's long-term economics. ## Lending Built on Top of Liquidity The second major change expected with Llamalend v2 is the use of LP tokens as collateral. In many DeFi systems, providing liquidity and borrowing against capital are separate decisions. The same capital usually cannot do both at once. Llamalend v2 changes that. Curve LP tokens can now be used as collateral in lending markets. **A user can provide liquidity to a Curve pool, keep exposure to trading fees, and borrow against that position at the same time.** This makes lending more closely connected to Curve’s liquidity layer. Liquidity does both support trading and borrowing capacity, giving LP positions another use inside the Curve ecosystem, and strengthening the revenue flows across the product suite. The same idea can extend to other productive collateral types, including yield-bearing vault tokens and principal tokens used in fixed-yield strategies. A position that earns yield on its own can also back a loan, which means capital is no longer locked into one role. ## ****Curve DEX and its LLAMMA powered lending markets become parts of the same loop** ## Risk Managed Market by Market More flexible markets need stronger risk boundaries. A stablecoin market, an ETH market, an LP-token market, and a fixed-yield asset market all behave differently. They should not be managed with the same assumptions. **Llamalend v2 keeps markets isolated**, with each market having its own collateral asset, borrowed asset, parameters, caps, oracle setup, and risk profile. Borrow caps start at zero, and markets need DAO approval before debt can be built. For the initial rollout, LlamaRisk is reviewing proposed markets for Llamalend before they move through governance. For asset issuers, this creates a useful benchmark. A lending market depends on more than the asset itself. It needs reliable liquidity, a credible oracle design, and parameters that match how the market actually behaves. Curve can support issuers first on the DEX side, helping build the liquidity base needed before a lending market is ready to move through governance. If an asset can cross that line, it is a strong signal that its onchain market has reached a higher level of maturity. ### **Launching Llamalend v2** Llamalend v2 will launch in phases, starting on Optimism before expanding to Ethereum mainnet. The initial deployment will include three isolated lending markets: - [ETH ↔ wstETH](https://www.curve.finance/lend/optimism/markets/0x745422BF49f3F6e4A8E12E4abD19339E7910F8C9) - [wstETH ↔ USDC](https://www.curve.finance/lend/optimism/markets/0xb5EC7A3D591877A66BE4f3eafdC4205E98A1BCAA) - [WBTC ↔ USDC](https://www.curve.finance/lend/optimism/markets/0x9fC15ac3EF97093832f49B7997A58E29b49C56dE) As per the new safety measures, these markets will initially launch with borrow caps set to zero. This allows to validate deployment parameters, observe market behavior, validate integrations, and ensure the system operates as expected before borrowing is enabled. To support the launch, an incentive campaign powered by Merkl will distribute 100,000 OP tokens across the initial markets. Borrowing will be enabled once the Curve DAO approves the first borrow cap increases through governance. As with all Curve DAO votes, this process takes approximately seven days from proposal to execution. Launching with zero borrow caps reflects the same market-by-market risk approach that underpins Llamalend v2\. Markets are deployed first, observed in production, and then progressively opened as governance gains confidence in their operation. Following a successful rollout on Optimism, additional Llamalend v2 markets will be deployed on Ethereum mainnet. Asset issuers interested in launching lending markets on Llamalend v2 are encouraged to reach out to the [Curve team](mailto:enquiries@curve.finance). As discussed earlier, a successful lending market depends on more than the asset itself: liquidity, oracle design, and risk parameters all play a critical role in creating a healthy market. Users who encounter issues, unexpected behavior, or have feedback on the new system are also encouraged to get in touch as Curve continues to iterate on the next generation of its lending infrastructure. ## What v2 Prepares Curve for **Llamalend v2 turns Llamalend from a crvUSD-focused lending system into a broader framework for Curve markets.** The important change is that lending can now sit closer to the liquidity Curve already helps create. An asset can build depth on the DEX, become more useful as collateral, and eventually support a lending market around the same onchain liquidity base. That matters for users because capital can move across more roles inside Curve. Just as important it is for asset issuers, because a Curve pool can become the starting point for a deeper market structure. And it eventually matters for the DAO, because lending activity can become a larger part of Curve’s long-term economics. V2 keeps the original idea behind Llamalend: liquidation should be handled through a range, instead of through a single cliff-edge event alone. What changes is the scope: that design can now support a wider set of markets, with risk handled market by market as the system grows. ### Curve Best Yields & Key Metrics | Week 23, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-23-2026/ Last updated: 2026-06-04T10:08:57.000Z ## Market Overview It was another tough week, with broader DeFi TVL down 8.0%. Curve held up slightly better, with TVL down 6.8% to $1.74B. - [@phil\_00Llama's new suggested TricryptoUSDT parameters](https://gov.curve.finance/t/tricryptousdt-update/11084) have helped LPs and the DAO generate 3x more revenue than the TricryptoUSDC pool in the 3 days since they were applied. - [LlamaRisk is ending its Curve engagement early](https://gov.curve.finance/t/llamarisk-concluding-our-curve-engagement/11090) due to an exclusive agreement with Aave. - crvUSD was less affected by the market downturn, as [YieldBasis](https://yieldbasis.com/)'s new v3 pools and hybrid vaults help keep the peg strong. As always, see the highlighted opportunities 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*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x098697ba3fee4ea76294c5d6a466a4e3b3e95fe6.png)USP](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-802/deposit) | Pool | \>200% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/hyperliquid.png "Hyperliquid") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0xbe65f0f410a72bec163dc65d46c83699e957d588.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/hyperliquid/pools/factory-stable-ng-38/deposit) | Pool | 23.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-590/deposit) | Pool | 18.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 14.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/lend/#/fraxtal/markets/one-way-market-0/vault/deposit) | Llamalend | 12.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf4c13d631450de6b12a19829e37c8e2826891dc4.png)avUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-795/deposit) | Pool | 10.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-771/deposit) | Pool | 10.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb8d89678e75a973e74698c976716308abb8a46a4.png)savUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-655/deposit) | Pool | 10.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x63d74d22e689c715a04f2c13962b1f77f443d35b.png)DUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-838/deposit) | Pool | 8.9% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 10.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 6.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 6.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 2.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 2.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://curve.finance/dex/#/optimism/pools/factory-v2-63/deposit) | BTC | 0.9% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 12.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 10.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 5.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 4.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 3.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.2% | ## Weekly Metrics ### crvUSD & scrvUSD The drop in BTC and ETH prices caused borrowers to close loans, with crvUSD minted falling 7.0%. The peg held up at $0.9984, even as BTC and ETH prices fell more than 10% each. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $52.2M | \-7.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 2.5% | \-1.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 38.2% | +0.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9984 | \-$0.0006 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 6.3% | +2.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $0 | \-$25.6M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $1.1k | \-$3.53k | ### Llamalend The market downturn caused most [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics to deteriorate, though crvUSD supplied increased. This may be crvUSD from unbalanced YieldBasis pools searching for yield, especially as scrvUSD yield declines. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $151M | \-6.1% | | 🦙 Supplied | $59.4M | +0.6% | | 🦙 Borrowed | $94.4M | \-4.2% | | 🦙 Collateral | $134M | \-7.2% | | 🦙 Loans | 997 | \-17 | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) saw lower TVL, but volume and fees rose sharply as expected during the volatility. Interestingly, there were fewer swaps overall, causing the average swap size to increase substantially. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $1.67B | \-7.1% | | 🔄 Volume | $1.52B | +43.7% | | 🔄 Swaps | 383k | \-1.0% | | 🔄 Total Fees | $357k | +71.9% | ### DAO The DAO saw another good-sized distribution to veCRV holders, while the lower CRV price reduced the USD value of weekly CRV emissions. | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.52B | +0.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 854M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 788M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $115k | \-5.0% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 3.916% | +0.13% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $469k (2.22M CRV) | \-7.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.844% | \-0.005% | ## Top Stableswap Pools [USDtb](https://usdtb.money/) (backed by BlackRock's BUIDL) was in high demand this week, with both demand and supply increasing. The weaker point was apxUSD depegging after its backing collateral, STRC, also lost its $100 target price. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $226.3M | $2.7k | | 2 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $146.1M | $15.1k | | 3 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $121.4M | $18.2k | | 4 | +26 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-701/deposit) | $95.9M | $13.3k | | 5 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $79.7M | $16.2k | | 6 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $72.3M | $7.2k | | 7 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $68.7M | $8.2k | | 8 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $59.7M | $6.1k | | 9 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-789/deposit) | $53.0M | $5.3k | | 10 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $42.7M | $4.3k | ## Top Cryptoswap Pools Optimized TricryptoUSDT parameters have helped LPs and the DAO generate 3x more revenue than the TricryptoUSDC pool in the 3 days since they were applied. Next week should show whether this trend continues. STG also saw strong demand after the LayerZero acquisition news. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $11.5M | $7.3k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $10.7M | $6.8k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $3.8M | $2.5k | | 4 | +11 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xaf5191b0de278c7286d6c7cc6ab6bb8a73ba2cd6.png)STG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-crypto-37/deposit) | $3.6M | $13.4k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $2.7M | $970.3 | | 6 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xddc0f880ff6e4e22e4b74632fbb43ce4df6ccc5a.png)reUSDe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-169/deposit) | $2.1M | $1.1k | ## Gauge Winners & Losers Gauge changes were small this week, as it was an off week for Convex voting. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------ | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-794/deposit) | $3.28M | 37.7k | +644 | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | $3.14M | 9.48k | +154 | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xdbfefd2e8460a6ee4955a68582f85708baea60a3.png)superOETHb](https://curve.finance/dex/#/base/pools/factory-stable-ng-143/deposit) | $14M | 146 | +92.3 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | $812k | 10.7k | \-209 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | $14.3M | 148k | \-210 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-704/deposit) | $1.79M | 23.8k | \-403 | ## DEX Winners & Losers ### Fees Winners & Losers [Apyx](https://apyx.fi/)'s apyUSD and apxUSD saw heavy trading this week after STRC, part of their backing collateral, lost its $100 target price. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-779/deposit) | $37.3M | $75.9k | +$73.3k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-701/deposit) | $95.9M | $13.3k | +$13k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xaf5191b0de278c7286d6c7cc6ab6bb8a73ba2cd6.png)STG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-crypto-37/deposit) | $3.65M | $13.4k | +$12.3k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | $369k | $923 | \-$1.16k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $37.5M | $3.75k | \-$1.4k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC](https://curve.finance/dex/#/base/pools/factory-stable-ng-410/deposit) | $2.75M | $5.5k | \-$1.92k | ### Volume Winners & Losers The same pools showed up across multiple winner categories again. USDtb volume was especially strong this week, even without an obvious single catalyst. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $146M | $15.1k | +$103M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-701/deposit) | $95.9M | $13.3k | +$92.3M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $79.7M | $16.2k | +$59.3M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $37.5M | $3.75k | \-$14M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $19.6M | $468 | \-$14.1M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $32.3M | $1k | \-$21M | ### TVL Winners & Losers RLUSD led the week in TVL additions, with [CoinShift](https://coinshift.xyz/)'s USPC second after its TVL increased nearly 10x over the week. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $78.6M | +$7.4M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbf4e3fbe8b60062a00c7a6b1d97d0d49c2971a19.png)USPC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-797/deposit) | $5.65M | +$4.99M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-701/deposit) | $44.1M | +$4.59M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $73.4M | \-$8.78M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $40M | \-$9.97M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $17.1M | \-$25.4M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers The only addition this week was a very small buildup of debt in the LBTC market; all other markets saw outflows as borrowers closed loans. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $2.65 | $1.05 | +$0.00143 | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $284k | $153k | \-$121 | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $13.6M | $10.2M | \-$7.67k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $5.31M | $3.78M | \-$1.13M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $31M | $15.5M | \-$1.21M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $28.1M | $18.1M | \-$1.4M | ### Lend Markets - Borrowing Winners & Losers Some WBTC borrowers moved to the cheaper lend market, but overall borrowing flows were mostly negative. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $4.01M | $3.08M | +$40.6k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $705k | $492k | +$37k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $708k | $347k | +$5.4k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $3.05M | $3.05M | \-$26.5k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $26.3M | $18.5M | \-$86.5k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.84M | $2.05M | \-$119k | ### Lend Markets - Supplying Winners & Losers fxSAVE saw the biggest liquidity addition, helped by being the highest-yielding stablecoin market currently available on Llamalend. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $26.3M | $18.5M | +$566k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $708k | $347k | +$261k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $4.01M | $3.08M | +$74.7k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/lend/#/fraxtal/markets/one-way-market-0/vault/deposit) | $252k | $192k | \-$43.1k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $17.8M | $12.5M | \-$181k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $298k | $11.6k | \-$311k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 22, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-22-2026/ Last updated: 2026-05-28T08:06:47.000Z ## Market Overview Curve's TVL fell 3.2% this week to **$1.80B**, mostly due to rotation out of the older [YieldBasis](https://yieldbasis.com/) pools. crvUSD held up well through the market downturn, with over $25M of deployed PegKeeper reserves and average borrow rates falling slightly. The crvUSD parameter changes and new YieldBasis hybrid vaults both appear to be helping keep the peg strong. As always, see all the highlighted opportunities and weekly metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x098697ba3fee4ea76294c5d6a466a4e3b3e95fe6.png)USP](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-802/deposit) | Pool | 180% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-590/deposit) | Pool | 25.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb8d89678e75a973e74698c976716308abb8a46a4.png)savUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-655/deposit) | Pool | 19.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 18.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-794/deposit) | Pool | 16.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf4c13d631450de6b12a19829e37c8e2826891dc4.png)avUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-795/deposit) | Pool | 11.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 10.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf4c13d631450de6b12a19829e37c8e2826891dc4.png)avUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-675/deposit) | Pool | 10.2% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 10.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 8.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 6.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 3.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 1.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://curve.finance/dex/#/optimism/pools/factory-v2-63/deposit) | BTC | 0.8% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 13.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 12.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 3.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 3.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.4% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD showed strength this week, with the peg holding up as minted supply increased to $56.2M and average borrow rates fell to 3.9%. PegKeeper reserves also expanded sharply, adding a larger stability buffer and profit for the DAO. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $56.2M | +2.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 3.6% | \-0.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 37.3% | \-1.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9989 | \-$0.001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 3.9% | \-1.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $25.6M | +$25.6M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $4.63k | +$3.35k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) had a slightly softer headline week, with TVL down 3.1% and collateral down 3.9%. Supplied and borrowed balances still edged higher, suggesting usage held up even as collateral values moved lower. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $161M | \-3.1% | | 🦙 Supplied | $59M | +0.8% | | 🦙 Borrowed | $98.5M | +1.0% | | 🦙 Collateral | $144M | \-3.9% | | 🦙 Loans | 1014 | \-10 | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) cooled across the board. TVL slipped 3.2%, while volume, swaps, and total fees all fell by roughly a third or more from the prior week. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.8B | \-3.2% | | 🔄 Volume | $1.06B | \-32.7% | | 🔄 Swaps | 387k | \-30.0% | | 🔄 Total Fees | $208k | \-54.6% | ### DAO DAO revenue metrics followed the lower DEX fee week, with the veCRV distribution falling to $121k while USD-valued CRV emissions also declined. | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.52B | +0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 854M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 788M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $121k | \-27.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 3.785% | \-0.857% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $506k (2.22M CRV) | \-7.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.848% | \-0.004% | ## Top Stableswap Pools Stablecoin volume remained concentrated in the same major venues, with PYUSD/USDS back on top and 3pool again producing the largest fee total. crvUSD routing was also prominent, with both USDT/crvUSD and USDC/crvUSD in the top five. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $203.9M | $2.2k | | 2 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $117.6M | $17.6k | | 3 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $69.4M | $6.9k | | 4 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $53.4M | $1.5k | | 5 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $51.6M | $5.2k | | 6 | +9 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $43.5M | $4.7k | | 7 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-789/deposit) | $43.0M | $4.3k | | 8 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $38.8M | $3.9k | | 9 | \-5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $33.8M | $729.9 | | 10 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $32.4M | $3.6k | ## Top Cryptoswap Pools Cryptoswap rankings stayed centered around the core Tricrypto pools. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $12.5M | $5.9k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $9.6M | $4.8k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $3.8M | $2.4k | | 4 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $3.8M | $7.3k | | 5 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $2.1M | $728.3 | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $1.3M | $3.9k | ## Gauge Winners & Losers During this Convex voting week, gauge emissions rotated strongly toward DOLA/sUSDe, which picked up an additional 82k CRV. The largest cuts came from reUSD/sfrxUSD, pmUSD/crvUSD, and reUSD/scrvUSD. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $58.9M | 212k | +82k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | $13.9M | 149k | +15.8k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-794/deposit) | $3.11M | 37.1k | +14.7k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $8.04M | 46.3k | \-15.1k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $6.6M | 56.9k | \-17.3k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-393/deposit) | $4.46M | 19.3k | \-34.3k | ## DEX Winners & Losers ### Fees Winners & Losers The Base pools below look like they should be Cryptoswap pools, but they are actually Stableswap pools. These pools can be problematic for LPs and swappers, which is why they are hidden from the UI, though they still generated reasonable fees and volume this week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC](https://curve.finance/dex/#/base/pools/factory-stable-ng-408/deposit) | $5.31M | $12.7k | +$11.2k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC](https://curve.finance/dex/#/base/pools/factory-stable-ng-410/deposit) | $3.72M | $7.42k | +$7.05k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $3.77M | $7.33k | +$3.58k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC](https://curve.finance/dex/#/base/pools/factory-stable-ng-373/deposit) | $706k | $1.98k | \-$12.9k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/base/pools/factory-stable-ng-374/deposit) | $462k | $1.29k | \-$13.1k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-861/deposit) | $204k | $571 | \-$14.3k | ### Volume Winners & Losers Ethena's USDtb led the week for added volume, while the largest declines came from the usual stablecoin leaders. sUSDS/USDT alone fell by $296M, explaining much of the weaker DEX week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $43.5M | $4.72k | +$25.9M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $69.4M | $6.93k | +$22.9M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7b43e3875440b44613dc3bc08e7763e6da63c8f8.png)USDR![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-412/deposit) | $11.7M | $0 | +$11.7M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $33.8M | $730 | \-$70.9M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $204M | $2.2k | \-$89.4M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $53.4M | $1.48k | \-$296M | ### TVL Winners & Losers TVL movements were dominated by PegKeepers and YieldBasis markets. USDT/crvUSD gained $19.5M as PegKeepers deployed, but this was outweighed by TVL rotating out of older YieldBasis pools and into the new markets. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $42.5M | +$19.5M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | $13.9M | +$2.38M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $8.04M | +$2.04M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-251/deposit) | $23.9M | \-$43.2M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-253/deposit) | $18.6M | \-$45.4M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-252/deposit) | $35.7M | \-$103M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers Borrowing demand increased mainly in WBTC, with some borrowing also seemingly rotating from WETH to the more capital-efficient wstETH market. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $37.2M | $16.7M | +$1.06M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $29M | $19.5M | +$327k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $2.02M | $1.36M | +$95.3k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $2.09M | $1.27M | \-$11.7k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $7.52M | $4.91M | \-$21.9k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $3.49M | $2.03M | \-$216k | ### Lend Markets - Borrowing Winners & Losers Lend market borrowing changes were modest outside asdCRV. sfrxUSD, wstETH, and Arbitrum WBTC saw small increases, while asdCRV had the largest repayment at $417k after [users were advised to repay following the vsdCRV hack](https://x.com/CurveFinance/status/2059634511562891747). | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $18M | $12.5M | +$69k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $835k | $686k | +$33.6k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-10/vault/deposit) | $415k | $232k | +$33.5k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $25.7M | $18.5M | \-$13k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.88M | $2.17M | \-$22k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $609k | $11.7k | \-$417k | ### Lend Markets - Supplying Winners & Losers Supplier flows moved faster than borrowing demand this week, with sfrxUSD seeing the largest increase, while the [asdCRV repayment recommendation](https://x.com/CurveFinance/status/2059634511562891747) prompted many users to exit the asdCRV market. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $18M | $12.5M | +$441k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $25.7M | $18.5M | +$175k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.88M | $2.17M | +$115k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $446k | $342k | \-$13.2k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-9/vault/deposit) | $415k | $233k | \-$14.6k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $609k | $11.7k | \-$303k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 21, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-21-2026/ Last updated: 2026-05-21T09:41:53.000Z ## Market Overview After a few weeks of optimism, crypto markets appear nervous again. Within Curve work is continuing behind the scenes, although only a few notable updates occurred this week: - TVL declined slightly, down 2.6% to $1.951B. - Optimizations proposed for the [TricryptoUSDT pool](https://gov.curve.finance/t/tricryptousdt-update/11084) suggest the pool could generate around 50% more fees and yield with adjusted parameters, with [DAO voting now underway](https://www.curve.finance/dao/ethereum/proposals/1412-ownership). - Many inactive or stale Llamalend markets on L2s are being cleaned up by LlamaRisk ahead of Llamalend V2 (soon™). There are still many attractive yields available on Curve, with highlighted opportunities and weekly metrics shown below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x098697ba3fee4ea76294c5d6a466a4e3b3e95fe6.png)USP](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-802/deposit) | Pool | 159.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x52c66b5e7f8fde20843de900c5c8b4b0f23708a0.png)AZND](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-819/deposit) | Pool | 31.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-590/deposit) | Pool | 22.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-705/deposit) | Pool | 21.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-704/deposit) | Pool | 17.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-731/deposit) | Pool | 16.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09fd37d9aa613789c517e76df1c53aece2b60df4.png)ebUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-778/deposit) | Pool | 15.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf4c13d631450de6b12a19829e37c8e2826891dc4.png)avUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-795/deposit) | Pool | 14.9% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xdbecd077c1c2fefdcb75f547d1b5a73bf8207e4c.png)evaETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-816/deposit) | ETH | 25.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-253/deposit) | ETH | 8.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 7.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 2.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 0.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://curve.finance/dex/#/optimism/pools/factory-v2-63/deposit) | BTC | 0.9% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 10.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-283/deposit) | CRV | 9.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 3.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 2.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.3% | ## Weekly Metrics ### crvUSD & scrvUSD The amount of crvUSD minted declined this week as borrowing rates increased and markets became more risk-off. Despite this, the crvUSD system remained stable and the peg held strong. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $54.9M | \-16.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 3.9% | +2.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 38.5% | +8.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9999 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 5.3% | +3.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $0 | \-$23.4M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $1.27k | \-$1.46k | ### Llamalend Declining crvUSD minting negatively impacted [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics this week. | Metric | Value | Change | | ---------------- | ------ | ------- | | 🦙 Llamalend TVL | $166M | \-12.8% | | 🦙 Supplied | $58.5M | \-2.0% | | 🦙 Borrowed | $97.5M | \-10.2% | | 🦙 Collateral | $150M | \-13.4% | | 🦙 Loans | 1024 | \-11 | ### DEX Curve’s [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) saw mixed metrics, with lower overall trading volume, but significantly more low-value swaps and more than double the total fees generated. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.86B | \-2.2% | | 🔄 Volume | $1.57B | \-31.3% | | 🔄 Swaps | 552k | +105.3% | | 🔄 Total Fees | $458k | +159.5% | ### DAO The DAO saw another strong distribution once again, with $166k distributed to veCRV lockers. With CRV declining slightly, veCRV APR and emissions were close to neutral overall. | Metric | Value | Change | | -------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Circ. Supply | 1.52B | +0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Locked | 854M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)Total veCRV | 789M | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV Distribution | $166k | +59.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/logos/logos/veCRV_xs.png)veCRV APR | 4.643% | +2.061% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV Emissions | $545k (2.22M CRV) | \-6.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)Inflation Rate | 4.853% | \-0.005% | ## Top Stableswap Pools There were several rotations between major assets, with ETH pools returning to the top 10 by volume. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $349.8M | $6.6k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $293.3M | $3.0k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $112.1M | $16.8k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $104.7M | $1.4k | | 5 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $46.5M | $4.6k | | 6 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $43.3M | $8.7k | | 7 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-789/deposit) | $41.1M | $4.1k | | 8 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $40.3M | $4.0k | | 9 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $32.8M | $3.3k | | 10 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $31.3M | $1.9k | ## Top Cryptoswap Pools The EUR/USD forex pool on Gnosis continues to stand out, with more than 100% liquidity utilization each day and a 7.29% weekly yield generated purely from trading fees, without incentives. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $8.8M | $4.8k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $7.4M | $4.0k | | 3 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $3.5M | $1.2k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $3.3M | $1.8k | | 5 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://curve.finance/dex/#/base/pools/factory-crypto-1/deposit) | $2.6M | $857.4 | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $1.0M | $3.5k | ## Gauge Winners & Losers As this was a non-voting week for Convex, most gauges saw only minor emission changes. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------------- | ------ | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-704/deposit) | $2.23M | 29.6k | +415 | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-251/deposit) | $6.11M | 60.3k | +309 | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa35b1b31ce002fbf2058d22f30f95d405200a15b.png)ETHx](https://curve.finance/dex/#/ethereum/pools/factory-v2-338/deposit) | $1.24M | 6.98k | +273 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x85b78aca6deae198fbf201c82daf6ca21942acc6.png)ARM-WETH-stETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-641/deposit) | $150k | 0 | \-267 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-771/deposit) | $1.21M | 11.9k | \-273 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x73968b9a57c6e53d41345fd57a6e6ae27d6cdb2f.png)SDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x830614ae209ff9d8706d386fcdbc7a55206fcffc.png)cvgSDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-81/deposit) | $54.7k | 102 | \-522 | ## DEX Winners & Losers ### Fees Winners & Losers 3pool (DAI/USDC/USDT) continued to generate strong fees for the DAO, producing $16.8k this week. Both USDS pools and PYUSD saw exceptionally strong activity last week, making weaker fee performance this week unsurprising. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $112M | $16.8k | +$3.39k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0x64351fc9810adad17a690e4e1717df5e7e085160.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $10.4M | $4.16k | +$3.27k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/assets/0xab5eb14c09d416f0ac63661e57edb7aecdb9befa.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-251/deposit) | $7.16M | $2.86k | +$2.36k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $350M | $6.6k | \-$5.46k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-628/deposit) | $7.2M | $8.6k | \-$5.87k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $26.6M | $2.7k | \-$6.24k | ### Volume Winners & Losers 3pool also led weekly volume growth, with the tBTC pool finishing second. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $112M | $16.8k | +$22.6M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-16/deposit) | $17.5M | $1.75k | +$12.2M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $46.5M | $4.65k | +$8.52M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $26.6M | $2.7k | \-$61.4M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $105M | $1.43k | \-$145M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $350M | $6.6k | \-$573M | ### TVL Winners & Losers [Apyx](https://apyx.fi/)’s apxUSD pool led TVL growth this week, while PegKeeper-related pools and stETH pools saw the largest declines due to PegKeeper withdrawals and ETH price depreciation. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-701/deposit) | $39.5M | +$14M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $10.9M | +$3.35M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-789/deposit) | $21.8M | +$2.62M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $88.5M | \-$5.2M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $18M | \-$9.31M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $22.9M | \-$13.4M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers No market saw significant borrowing inflows this week, as higher borrowing rates and declining crypto prices led borrowers to reduce risk. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $13.6M | $10.2M | +$8.24k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $344k | $153k | +$205 | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $3.25 | $1.05 | +$0.00258 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $30.1M | $19.2M | \-$1.79M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $2.26M | $1.29M | \-$2.14M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $37.4M | $15.6M | \-$6.67M | ### Lend Markets - Borrowing Winners & Losers Only minor rotations occurred between established lending markets. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.94M | $3.03M | +$140k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $460k | $326k | +$68.6k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $912k | $429k | +$21.3k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $818k | $652k | \-$39.1k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $3.08M | $3.08M | \-$136k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $17.6M | $12.4M | \-$153k | ### Lend Markets - Supplying Winners & Losers The sfrxUSD market saw the largest increase in supplied capital this week, as users continued rotating between stablecoin lending opportunities in search of yield. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $17.6M | $12.4M | +$1.34M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.94M | $3.03M | +$285k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $912k | $429k | +$96.3k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $818k | $652k | \-$140k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $460k | $326k | \-$1.11M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $25.5M | $18.6M | \-$1.6M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 20, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-20-2026/ Last updated: 2026-05-14T07:59:50.000Z ## Market Overview The work continues at Curve this week, with new developments here and coming soon: - TVL decreased 2.6% to $2.001B - [Voting is ongoing to add the new and audited FXSwap pools to the catalog of implementations](https://www.curve.finance/dao/ethereum/proposals/1408-ownership). The updates make these pools more efficient and less leaky to Arbitrage bots - [LlamaRisk posted a proposal](https://gov.curve.finance/t/llamalend-v1-market-deprecation-plan/11075) to depreciate all unused and broken LlamalendV1 markets in anticipation of LlamalendV2 launching in the coming months - New pools for [Tangent Finance](https://www.tangent.finance/)'s USG stablecoin, based on the crvUSD design, are now live and offering high yields As always, there are many opportunities available below alongside this week's highlighted metrics. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-704/deposit) | Pool | 192% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb1c2db5d6ca03fce73dbd304d320bf76c55ae1b1.png)USG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-705/deposit) | Pool | 184% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x098697ba3fee4ea76294c5d6a466a4e3b3e95fe6.png)USP](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-802/deposit) | Pool | 184% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-731/deposit) | Pool | 23.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09fd37d9aa613789c517e76df1c53aece2b60df4.png)ebUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-778/deposit) | Pool | 17.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf4c13d631450de6b12a19829e37c8e2826891dc4.png)avUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-795/deposit) | Pool | 17.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-393/deposit) | Pool | 17.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-799/deposit) | Pool | 14.5% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH![](https://curve.finance/images/default-crypto.png)evaETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-816/deposit) | ETH | 54.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 10.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 8.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 2.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-264/deposit) | BTC | 0.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657e8c867d8b37dcc18fa4caead9c45eb088c642.png)eBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-246/deposit) | BTC | 0.6% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 10.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-283/deposit) | CRV | 9.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 5.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 4.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.1% | ## Weekly Metrics ### crvUSD & scrvUSD Borrowers continue minting crvUSD at low rates, steadily increasing supply. Overall ecosystem conditions remain stable and healthy. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $65.8M | +1.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 1.2% | +0.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 30.0% | \-1.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9999 | \-$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 2.0% | +0.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $23.4M | \-$47.4M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $2.74k | \-$1.78k | ### Llamalend It was a quiet week for [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance), with only small changes across most metrics. No new markets are expected before LlamalendV2 launches in the coming months. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $191M | \-0.6% | | 🦙 Supplied | $59.7M | \-2.4% | | 🦙 Borrowed | $109M | +1.1% | | 🦙 Collateral | $174M | +0.3% | | 🦙 Loans | 1035 | +27 | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) saw a decline in TVL this week, while all other major metrics increased. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $1.9B | \-4.3% | | 🔄 Volume | $2.28B | +22.3% | | 🔄 Swaps | 269k | +9.4% | | 🔄 Total Fees | $176k | +10.8% | ### DAO The DAO saw a large increase in veCRV distributions this week. CRV price appreciation also pushed the total value of emissions higher. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.51B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 856M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 788M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $104k | +61.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV APR | 2.569% | +0.823% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $580k (2.22M CRV) | +10.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.857% | \-0.004% | ## Top Stableswap Pools Once again, USDS won the week for highest stablecoin demand, with over $1.3B traded across its pools. Other notably high-demand pairs included PYUSD/USDC and f(x)'s fxUSD/USDC. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $923.0M | $12.1k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $305.9M | $3.4k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $249.8M | $2.7k | | 4 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $89.5M | $13.4k | | 5 | +10 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $88.0M | $8.9k | | 6 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $51.9M | $5.2k | | 7 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-789/deposit) | $48.2M | $4.8k | | 8 | +8 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-193/deposit) | $39.5M | $4.5k | | 9 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $38.2M | $7.9k | | 10 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $37.9M | $3.8k | ## Top Cryptoswap Pools Both CRV and CVX were in demand this week, as they appreciated in value. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $7.7M | $4.0k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $6.0M | $3.2k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $4.6M | $3.0k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $3.3M | $5.1k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $2.3M | $753.6 | | 6 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $1.7M | $6.2k | ## Gauge Winners & Losers It was one of the biggest gauge weight changes in recent memory, with pmUSD pools winding back emissions while waiting to enable redemption and improve the peg. The major winners were DOLA, MIM and [Resupply](http://resupply.fi)'s reUSD. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $61M | 130k | +126k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3.png)MIM![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/mim/deposit) | $11.3M | 101k | +62k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-393/deposit) | $1.93M | 53.5k | +42.4k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe6a60d2886b11256c24c128210159133096e5ccf.png)iREET](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-349/deposit) | $598k | 25.7k | \-75.1k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | $5.89M | 62.1k | \-160k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $6.55M | 74.4k | \-184k | ## DEX Winners & Losers ### Fees Winners & Losers USDS, in its various forms, saw strong demand this week. A new GOLD/FLY pool also generated unusually high fees relative to its liquidity, while activity in the optimized stETH pool normalized after elevated demand last week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-628/deposit) | $9.66M | $14.5k | +$13.8k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $88M | $8.94k | +$7.7k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://curve.finance/images/default-crypto.png)₿Gold![](https://curve.finance/images/default-crypto.png)FLY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-363/deposit) | $199k | $5.93k | +$5.93k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $1.7M | $862 | \-$3.53k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-779/deposit) | $2.23M | $4.46k | \-$6.66k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $25M | $2k | \-$12.6k | ### Volume Winners & Losers Many bluechip stablecoins saw strong demand this week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $923M | $12.1k | +$187M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $250M | $2.7k | +$126M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $306M | $3.4k | +$103M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $51.9M | $5.19k | \-$8.69M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $7.27M | $735 | \-$10.5M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $25M | $2k | \-$158M | ### TVL Winners & Losers crvUSD PegKeepers were responsible for many of the major TVL movements this week, withdrawing liquidity from several pools while increasing deposits into frxUSD. [Alchemix](https://alchemix.fi/)'s alETH pool also nearly doubled in TVL following years of continued development work and the recent launch of V3. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $85.9M | +$5.51M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $27.4M | +$3.05M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-36/deposit) | $5.14M | +$2.09M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $35.6M | \-$9.21M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $6.1M | \-$15.7M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $25.5M | \-$33M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers Only the deprecated sfrxETH market saw a small outflow this week, while all other markets increased borrowed amounts, led by WETH. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | ---------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $5.6M | $2.54M | +$367k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $50.8M | $22.3M | +$214k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $34.7M | $21M | +$144k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $13.8M | $10.2M | +$16.9k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $3.34 | $1.04 | +$0.00237 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $366k | $153k | \-$0.00098 | ### Lend Markets - Borrowing Winners & Losers WBTC saw a strong percentage inflow this week, while some capital also appeared to rotate from sreUSD into stablecoin markets such as sfrxUSD and sUSDe. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.65M | $2.89M | +$414k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $16.3M | $12.5M | +$234k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.77M | $2.18M | +$191k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $700k | $474k | \-$12k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $3.21M | $3.21M | \-$38.7k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $27.1M | $18.5M | \-$573k | ### Lend Markets - Supplying Winners & Losers sreUSD saw a meaningful outflow this week, while fxSAVE absorbed a large amount of crvUSD liquidity. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $1.48M | $258k | +$1.15M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $816k | $408k | +$43k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $958k | $691k | +$34.4k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-9/vault/deposit) | $334k | $240k | \-$106k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $700k | $474k | \-$112k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $27.1M | $18.5M | \-$2.4M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 19, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-19-2026/ Last updated: 2026-05-07T07:38:49.000Z ## Market Overview Welcome to another week of yields & metrics for Curve. - Total TVL has increased to $2.054B, up 1.6% - Minted crvUSD supply continues to increase, now up to $64.9M. - The [CRV LlamaLend Recovery](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-824/swap) pool increased in utilization this week, reaching $141k TVL with over 3% of all vault tokens now deposited in the pool. Read [Building recovery in public and building stronger systems next](https://news.curve.finance/building-recovery-in-public-and-building-stronger-systems-next/) for more information on how the system works. As always, see all the highlighted opportunities and metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x098697ba3fee4ea76294c5d6a466a4e3b3e95fe6.png)USP](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-802/deposit) | Pool | \>100% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-0/deposit) | Pool | 27.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf4c13d631450de6b12a19829e37c8e2826891dc4.png)avUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-795/deposit) | Pool | 18.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 17.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-799/deposit) | Pool | 15.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb8d89678e75a973e74698c976716308abb8a46a4.png)savUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-660/deposit) | Pool | 14.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-786/deposit) | Pool | 13.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-297/deposit) | Pool | 10.7% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-303/deposit) | ETH | 7.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 5.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 2.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657e8c867d8b37dcc18fa4caead9c45eb088c642.png)eBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-246/deposit) | BTC | 1.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/base/pools/factory-stable-ng-317/deposit) | BTC | 1.1% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 11.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x11cdb42b0eb46d95f990bedd4695a6e3fa034978.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/arbitrum/pools/factory-tricrypto-27/deposit) | CRV | 11.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 3.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.6% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD metrics have continued to strengthen. Minted crvUSD supply once again increased, now approaching $65M. The crvUSD share within scrvUSD also continued to decline, meaning a larger share of crvUSD minting fees flowed to veCRV holders and the treasury. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $64.9M | +5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 0.6% | +0.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 31.9% | \-6.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $1.0 | +$0.0002 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 1.2% | +0.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $70.8M | +$5.86M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $4.51k | \-$4.85k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) also continued to strengthen this week, with all major metrics positive, largely driven by crvUSD minting markets. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $192M | +7.3% | | 🦙 Supplied | $61.2M | +1.6% | | 🦙 Borrowed | $107M | +4.3% | | 🦙 Collateral | $173M | +8.0% | | 🦙 Loans | 1008 | +24 | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) had a strong week, with all metrics positive. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $1.98B | +0.9% | | 🔄 Volume | $1.87B | +44.5% | | 🔄 Swaps | 246k | +6.5% | | 🔄 Total Fees | $159k | +17.0% | ### DAO The DAO saw a lower than usual distribution, but positively, users lengthened their CRV locks, and the CRV price and weekly emissions value increased. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.51B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 856M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 789M | +0.9% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $64.5k | \-47.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV APR | 1.746% | \-1.777% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $525k (2.22M CRV) | +4.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.862% | \-0.005% | ## Top Stableswap Pools USDS pools saw huge volumes, almost hitting the $1B of volume over a single week! stETH also saw significantly higher demand than usual, though there did not appear to be any obvious negative driver behind the increase. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $735.9M | $10.1k | | 2 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $202.9M | $2.4k | | 3 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $183.0M | $14.6k | | 4 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $123.4M | $1.3k | | 5 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $60.6M | $6.1k | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $57.0M | $8.6k | | 7 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $39.1M | $3.9k | | 8 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $37.1M | $3.7k | | 9 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $37.0M | $7.6k | | 10 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-789/deposit) | $24.8M | $2.5k | ## Top Cryptoswap Pools The usual Cryptoswap pools continued their dominance in terms of volumes. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | -- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $10.1M | $4.7k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $8.7M | $4.4k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $5.0M | $8.2k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $3.0M | $2.0k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $2.4M | $795.4 | | 6 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x320623b8e4ff03373931769a31fc52a4e78b5d70.png)RSR](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-21/deposit) | $1.3M | $1.2k | ## Gauge Winners & Losers It was an off voting week for Convex but we interestingly still saw large gauge changes. This is possible because anyone with veCRV can change their vote once every 10 days. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcea18a8752bb7e7817f9ae7565328fe415c0f2ca.png)cvcrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-824/deposit) | $149k | 9.92k | +9.92k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $25.7M | 5.85k | +5.68k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | $10.1M | 128k | +3.11k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $58.5M | 96.2k | \-1.27k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $7.09M | 259k | \-2.27k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | $6.51M | 222k | \-3.59k | ## DEX Winners & Losers ### Fees Winners & Losers stETH pools both won and lost the week for Fees. This is possible because there are 2 pools. The larger ($97M), but less efficient and older pool lost the week. The smaller ($25M) but more efficient New Generation stETH pool (stETH-ng) was the strongest performer. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $183M | $14.6k | +$12.4k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-779/deposit) | $5.55M | $11.1k | +$7.69k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $8.85M | $4.39k | +$3.84k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | $1.31M | $303 | \-$3.48k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $60.6M | $6.06k | \-$3.96k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $39.1M | $3.91k | \-$6.07k | ### Volume Winners & Losers The stETH dynamic seen in fee generation also happened in volumes. However, the sUSDS pool won the week, almost doubling it's volume to a huge $736M. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $736M | $10.1k | +$380M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $183M | $14.6k | +$155M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $203M | $2.41k | +$21.5M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $60.6M | $6.06k | \-$39.6M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $39.1M | $3.91k | \-$60.7M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $123M | $1.34k | \-$77.4M | ### TVL Winners & Losers PegKeeper movements affected many crvUSD pools this week, however the PYUSD crvUSD pool lost as liquidity incentives dried up. The pmUSD/crvUSD pool had a difficult week, with a bank run causing the pool to lose peg stability and TVL after the redeemability of backing collateral was questioned. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $44.8M | +$20.9M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $55.6M | +$9.19M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-779/deposit) | $14.9M | +$7.97M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $7.09M | \-$7.68M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $58.5M | \-$8.58M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $21.8M | \-$21.2M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers All markets saw positive increases this week, with wstETH leading. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $35.3M | $20.9M | +$1.55M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $4.96M | $3.33M | +$767k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $51.2M | $22.1M | +$655k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $14.1M | $10.2M | +$14.4k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $373k | $153k | +$39.7 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $3.39 | $1.04 | +$0.00268 | ### Lend Markets - Borrowing Winners & Losers There are not many positive inflows to lend markets as stablecoin yields are suppressed and minting markets are so cheap to borrow from currently. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $16.3M | $12.3M | +$1.11M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-10/vault/deposit) | $333k | $199k | +$7.19k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $773k | $406k | +$3.96k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $331k | $239k | \-$80.6k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $812k | $486k | \-$93.9k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.65M | $2.47M | \-$127k | ### Lend Markets - Supplying Winners & Losers sfrxUSD won the week for supplying and borrowing, with sreUSD close in second. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $16.3M | $12.3M | +$716k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $29.5M | $19.1M | +$597k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-9/vault/deposit) | $439k | $238k | +$41.3k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $924k | $687k | \-$41.6k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $331k | $239k | \-$43k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $812k | $486k | \-$237k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Monthly Recap April 2026 URL: https://news.curve.finance/curve-monthly-recap-april-2026/ Last updated: 2026-05-06T17:09:22.000Z April was a month of stabilisation and acceleration for Curve Finance. crvUSD demand strengthened materially as borrow rates continued falling, PegKeeper reserves recovered, and Llamalend activity accelerated sharply through the second half of the month. At the same time, Curve’s infrastructure handled significant market volatility during the rsETH unwind without destabilising crvUSD conditions. April also marked the rollout of a major Llamalend UI/UX upgrade ahead of the anticipated LLv2 launch. # **Key Highlights** - crvUSD minted supply reached $61.3M by month end - PegKeeper reserves recovered materially through April - Llamalend borrowed supply nearly doubled to $103M - Llamalend received a major UI/UX overhaul - Curve DEX volume rose +235% during the rsETH unwind - veCRV APR climbed above 5% - YieldBasis launched its first Hybrid Vault - Spark’s PYUSD/USDS pool remained Curve’s highest-volume stableswap pool # **crvUSD Recovery Accelerates** April delivered the clearest evidence yet that the monetary policy adjustments introduced earlier this year are functioning as intended. At the beginning of the month: - crvUSD minted supply sat near $19.1M - average borrow rates were \~6.5% - PegKeeper reserves remained depleted By month end: - borrow rates fell toward \~1.1% - minted supply climbed to $61.3M - PegKeeper reserves recovered substantially - crvUSD returned firmly above peg ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/05/image.png) Borrow rates for minting crvUSD remain the cheapes in the market at date of posting Lower borrowing costs translated directly into stronger mint demand while the system absorbed supply expansion without destabilising the peg. [Mint crvUSD](https://www.curve.finance/llamalend/ethereum/markets?type=Mint) # Llamalend **Growth and UI Upgrade** Llamalend experienced its strongest growth period in months as borrowing activity accelerated sharply through April. - Week 17 TVL: $128M (+15.7%) - Week 18 TVL: $179M (+39.7%) - Borrowed supply reached $103M The number of active loans also continued increasing throughout the month. Alongside the growth, Llamalend received a significant UI/UX upgrade focused on: - clearer position management - improved collateral visibility - streamlined borrowing flows - better market information The redesign marks the beginning of a broader iteration cycle as Curve prepares for the anticipated LLv2 rollout. # **Curve During the rsETH Market Stress Event** The final week of April brought significant volatility following the broader LayerZero/KelpDAO-related rsETH incident. Curve absorbed a substantial share of the unwind activity while core system conditions remained stable. Weekly metrics included: - DEX volume: $2.14B (+235%) - DEX fees: $476k (+186%) - ETH/stETH volume: $669.4M - veCRV APR: 5.256% - PegKeeper reserves: +$108M to $146M The event reinforced the resilience of Curve’s liquidity infrastructure, LLAMMA liquidation model, and PegKeeper balancing mechanisms during volatile market conditions. # **Governance and Risk Management** April governance activity focused primarily on operational normalisation and risk management. - [Vote 1381](https://gov.curve.finance/t/funding-proposal-for-swiss-stake-ag-grant-proposal-2026/10953) approved continued Swiss Stake funding and development support - [Vote 1385](https://gov.curve.finance/t/decrease-max-rev-share-of-crvusd-revenue-to-scrvusd-from-80-to-50/11042) reverted scrvUSD revenue share from 80% back to 50% - [Vote 1394](https://gov.curve.finance/t/remove-gho-from-aggregated-price-of-crvusd/11049/1) proposed removing GHO from aggregated price of crvUSD - [Vote 1400](https://gov.curve.finance/t/crv-long-llamalend-market-recovery/11062) introduced a [market-based](https://news.curve.finance/building-recovery-in-public-and-building-stronger-systems-next/) recovery mechanism for CRV-long bad debt [Building recovery in public and building stronger systems nextAffected by the CRV-long LlamaLend market? A new approach could offer more flexibility — giving users the option to exit, hold, or engage in recovery through a transparent onchain market.![](https://static.ghost.org/v5.0.0/images/link-icon.svg)Curve News0xtutti![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/Building-rcovery-in-public.png)](https://news.curve.finance/building-recovery-in-public-and-building-stronger-systems-next/) Read more about the recovery mechanisms for CRV-Long Llamalend market # **YieldBasis Launches First Hybrid Vault** YieldBasis launched its first Hybrid Vault using WETH as the inaugural asset. The design allows users to deposit WETH alongside crvUSD or scrvUSD while increasing demand for Curve’s native stablecoin infrastructure as vault usage grows. [Read more about hybrid vaults](https://x.com/yieldbasis/status/2038610652194037966) # **Spark Liquidity Layer Continues Expanding** Spark’s PYUSD/USDS pool remained Curve’s highest-volume stableswap pool throughout April, reaching $702.4M in weekly volume during the rsETH stress period. The sUSDS/USDT pool also remained among Curve’s most active markets. Together, the pools continue reinforcing Curve’s role as core liquidity infrastructure for external stablecoin ecosystems. [Visit PYUSD/USDS pool](https://www.curve.finance/dex/ethereum/pools/0xa632d59b9b804a956bfaa9b48af3a1b74808fc1f/deposit) # **Market Recap** April marked a meaningful improvement in overall protocol conditions. crvUSD circulation expanded materially, PegKeeper reserves recovered, Llamalend activity accelerated, and Curve’s infrastructure handled elevated market volatility without major disruption. As the protocol moves toward LLv2, April represented an important month of stabilisation, validation, and renewed growth for the broader Curve ecosystem. ### Building recovery in public and building stronger systems next URL: https://news.curve.finance/building-recovery-in-public-and-building-stronger-systems-next/ Last updated: 2026-05-01T13:41:00.000Z The October 10, 2025 market crash put large parts of DeFi under stress. A number of lending protocols were affected. On Curve, some permissionless [Llamalend](https://www.curve.finance/llamalend/ethereum/markets) markets using volatile collateral accrued bad debt after sharp price moves and rapidly changing liquidity conditions. One of those markets was the CRV-long Llamalend market. Since then, some lenders have faced impaired withdrawals and prolonged uncertainty around their deposited funds. That has left affected users in a difficult position, and it is clear that market solvency and bad debt risk needed to be surfaced more clearly. At the same time, these positions remain onchain, transparent, and open to market-based resolution. A new path is now being implemented that uses Curve’s own infrastructure to create liquidity around these claims and give affected users an additional voluntary option. ## A Market-Based Recovery Path The practical question is what affected lenders can do with those claims today. Rather than waiting on a single eventual outcome, this path uses existing Curve primitives to create a dedicated pool between: - crvUSD, Curve’s decentralized stablecoin - cvcrvUSD, the vault share token representing lender claims on the affected CRV-long market In practical terms, a pool structure like this allows affected lenders to swap vault claims for liquid crvUSD at market pricing, rather than only waiting for recovery over time. That creates multiple voluntary paths for users: - exit by selling claims into available liquidity - hold claims if they believe recovery improves over time - provide liquidity and earn fees, and potentially CRV incentives, for users who understand the risks This does not remove losses or guarantee recovery. It creates a market where claims can trade, liquidity can form, and users can choose between exiting, holding, or providing liquidity based on their own risk tolerance and time horizon. If market conditions improve, those claims may recover further in value over time, and this pool structure gives the market a way to price those views onchain. ## How Market Solvency Changes With CRV Price The chart below shows how aggregate solvency across the remaining unprofitable positions in the affected CRV-long market changes as the CRV price rises. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/04/image.png) At the current reference price, shown by the dotted blue vertical line, those positions remain below full recovery. As the CRV price increases, aggregate solvency improves and a larger share of the remaining shortfall becomes covered. Two modelled levels are especially relevant: - **Around $0.957 CRV**\* — recovery starts, with some impaired debt becoming fully covered - **Around $1.242 CRV**\* — modelled full recovery, where the remaining impaired positions become fully solvent The key point is that recovery is not binary. It can improve gradually as collateral conditions improve, which is why claims on the affected vault may still have market value today. \*These levels are **model-based scenarios, not guarantees.** ## How Incentives Could Support Recovery This pool can function on its own, but a gauge could make it more effective. If a gauge is added, veCRV voters would be able to direct CRV emissions toward the pool. Those incentives could help: - deepen crvUSD-side liquidity - improve exit conditions for affected lenders - attract arbitrageurs and market makers - support more efficient market pricing In practice, that would help make the recovery market deeper and more usable, but it is not required for the pool structure itself to exist. ## What Has Changed Market health in Llamalend has always been visible onchain, and community tools such as CurveMonitor and crvHub have long helped users track solvency, utilization, positions, and market conditions. What has improved since is the visibility of that information in the interface and in supporting documentation. Curve has since added clearer indicators around market solvency and bad debt, making already-public market information easier to interpret. Documentation is also being expanded around bad debt, market solvency, and lending market risk, so users have clearer context when evaluating these systems. In some cases, the interface may also limit or discourage interaction with affected markets while those risks remain elevated. ## What This Means for Llamalend V2 Llamalend V1 showed that fully permissionless lending markets are possible. It also made clear that volatile collateral markets need stronger market standards, clearer risk signaling, and better parameterization than V1 provided. Those lessons are directly informing Llamalend V2. Llamalend V2 is being developed with stronger focus on: - clearer market standards - tighter parameterization - clearer user-facing risk signals - stronger alignment between market design and incentives - a more robust lending architecture overall Llamalend V2 is intended to improve market standards, review, and risk signaling for future markets, not to eliminate risk altogether. The goal is to make future markets more resilient and reduce the likelihood of similar outcomes. ## Looking Ahead The CRV-long market issue has been frustrating for affected users. The recovery path now being implemented creates a new voluntary option, but it is not a guaranteed outcome. Recovery may take time and remains dependent on liquidity, market conditions, and any additional governance actions that may follow. ## Appendix: Governance Discussions and Proposals For users who want to explore the full context, technical discussions, and alternative approaches considered by the community, the following governance threads provide additional detail: - [CRV-long LlamaLend Market: Next Steps](https://gov.curve.finance/t/crv-long-llamalend-market-next-steps/11045) - [CRV-long LlamaLend Market Recovery Proposal](https://gov.curve.finance/t/crv-long-llamalend-market-recovery/11062) - [Temp Check: Use Treasury Funds to Repay Bad Debt](https://gov.curve.finance/t/temp-check-use-treasury-funds-to-repay-bad-debt/10876) - [Proposal to Compensate for the wFRAX Markets Bad Debt](https://gov.curve.finance/t/proposal-to-compensate-for-the-wfrax-markets-bad-debt/11021) These discussions reflect the range of perspectives considered — from treasury-backed solutions to market-based recovery mechanisms — and highlight the open governance process behind the current approach. ### Curve Best Yields & Key Metrics | Week 18, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-18-2026/ Last updated: 2026-04-30T10:49:22.000Z ## Market Overview Curve had a very positive week. Here's the news: - TVL held steady this week, edging up 0.7% to **$2.021B.** - crvUSD minting had explosive growth, surging 127% to $61.3M. - A [DAO proposal from Mich](https://gov.curve.finance/t/crv-long-llamalend-market-recovery/11062/1) outlines a novel, free-market mechanism to recover the \~$700k bad debt in the CRV-long LlamaLend market, using a Curve stableswap pool that turns vault tokens into an investable option-like asset. The pool is deployed with a [gauge vote](https://www.curve.finance/dao/ethereum/proposals/1400-ownership) underway. - [YieldBasis published a 7-month retrospective](https://yb.valueverse.ai) showing strong results through the bear market: 5.4–9.9% native BTC APY, $3.84M in fees distributed, 99% TVL retention, and no security incidents. As always, see all highlighted opportunities and weekly metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $14.8M | 10.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $23.9M | 3.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $20.1M | 3.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $67.1M | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $15.6M | 2.1% | ### Other Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf4c13d631450de6b12a19829e37c8e2826891dc4.png)avUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-795/deposit) | Pool | 45.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-786/deposit) | Pool | 44.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd166337499e176bbc38a1fbd113ab144e5bd2df7.png)sUSDat](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-799/deposit) | Pool | 40.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-578/deposit) | Pool | 22.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb8d89678e75a973e74698c976716308abb8a46a4.png)savUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-660/deposit) | Pool | 21.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-663/deposit) | Pool | 16.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 16.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-297/deposit) | Pool | 15.1% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 9.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-303/deposit) | ETH | 5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 2.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/base/pools/factory-stable-ng-317/deposit) | BTC | 1.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-264/deposit) | BTC | 0.7% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x11cdb42b0eb46d95f990bedd4695a6e3fa034978.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/arbitrum/pools/factory-tricrypto-27/deposit) | CRV | 10.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 10.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 4.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 4.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 4.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-2/deposit) | TRICRYPTO | 3.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.7% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD experienced its largest single-week expansion in recent memory, with minted supply skyrocketing 127% as borrowing rates remained low. The share of crvUSD in scrvUSD collapsed as the savings yield cratered to 0.3%, but through it all the peg held firm and PegKeepers turned a healthy $9.36k profit. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $61.3M | +127.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 0.3% | \-1.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 38.0% | \-55.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9997 | \-$0.0003 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 0.8% | +0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $65M | \-$81.3M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $9.36k | +$1.73k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) saw explosive growth, with TVL jumping, and borrowing surging as cheap crvUSD minting rates and fallout from the rsETH hack drove a wave of new crvUSD borrowing. Lend markets didn’t see the same expansion as minting markets, however, and supplied amounts slightly fell. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $179M | +39.7% | | 🦙 Supplied | $60.2M | \-0.8% | | 🦙 Borrowed | $103M | +48.0% | | 🦙 Collateral | $160M | +45.9% | | 🦙 Loans | 984 | +35 | ### DEX After last week's extraordinary volume spike from the LayerZero/rsETH fallout, Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) returned to more typical levels. Volume dropped 39.8% and total fees fell 71.5% as the stETH volatility trade unwound. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.96B | \-4.1% | | 🔄 Volume | $1.29B | \-39.8% | | 🔄 Swaps | 231k | \-35.1% | | 🔄 Total Fees | $136k | \-71.5% | ### DAO DAO metrics reflected the quieter DEX week, with veCRV distributions falling 29.1% to $123k, pushing veCRV APR down to 3.5%. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.51B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 856M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 782M | +0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $123k | \-29.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV APR | 3.523% | \-1.733% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $503k (2.22M CRV) | \-2.0% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.866% | \-0.005% | ## Top Stableswap Pools Volume rotated sharply this week. sUSDS/USDT surged to #1 with $355M, while USDC/USDT leapt from #10 to #2 with $201M. Last week's leaders — PYUSD/USDS and ETH/stETH — both cooled significantly, with ETH/stETH falling from #2 to #5 as the stETH volatility trade subsided. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $355.4M | $7.2k | | 2 | +8 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $200.7M | $2.3k | | 3 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $181.3M | $1.9k | | 4 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $100.1M | $10.0k | | 5 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $99.7M | $10.0k | | 6 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $56.3M | $8.4k | | 7 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $34.1M | $6.9k | | 8 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $27.8M | $2.2k | | 9 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $25.0M | $2.5k | | 10 | \-5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $21.2M | $2.2k | ## Top Cryptoswap Pools Cryptoswap rankings were mostly stable, with only small changes in positions. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $8.1M | $4.2k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $6.7M | $3.7k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $5.8M | $8.4k | | 4 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $3.0M | $1.7k | | 5 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $2.3M | $777.4 | | 6 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://curve.finance/dex/#/base/pools/factory-crypto-1/deposit) | $1.2M | $384.9 | ## Gauge Winners & Losers CRV emissions were in high demand, with many pools battling for the best yields. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-274/deposit) | $15.9M | 13.3k | +13.3k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-518/deposit) | $943k | 18.3k | +11k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x741bd193b6b40f8703d2e116fd1965421f290f58.png)evaUSDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-794/deposit) | $538k | 9.55k | +9.55k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-771/deposit) | $857k | 920 | \-14k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $41.6M | 5.66k | \-43.6k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $65.1M | 3.77k | \-62.9k | ## DEX Winners & Losers ### Fees Winners & Losers Fee moves were dramatically smaller after last week's stETH-driven swings. ETH/stETH and USDC/RLUSD were the biggest fee decliners, giving back $57k and $86k respectively as both returned to normal levels. Gains were modest across the board. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa35b1b31ce002fbf2058d22f30f95d405200a15b.png)ETHx](https://curve.finance/dex/#/ethereum/pools/factory-v2-338/deposit) | $3.46M | $1.38k | +$653 | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3.png)MIM![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/mim/deposit) | $1.68M | $670 | +$637 | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/bsc.png "Bsc") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-bsc/0x5519a479da8ce3af7f373c16f14870bbeafda265.png)bnbUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-bsc/0x85375d3e9c4a39350f1140280a8b0de6890a40e7.png)Sigma](https://curve.finance/dex/#/bsc/pools/factory-twocrypto-87/deposit) | $26.9k | $637 | \- | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $21.2M | $2.18k | \-$22.9k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $99.7M | $9.97k | \-$57k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $34.1M | $6.86k | \-$86k | ### Volume Winners & Losers Volume reflected the cooldown from last week's spike after the LayerZero incident inflated usual volumes. USDC/USDT bucked the trend, gaining $94M as stablecoin routing shifted toward the plain vanilla pair. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $201M | $2.32k | +$94M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x07041776f5007aca2a54844f50503a18a72a8b68.png)USAT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-732/deposit) | $9.06M | $0 | +$9.01M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa35b1b31ce002fbf2058d22f30f95d405200a15b.png)ETHx](https://curve.finance/dex/#/ethereum/pools/factory-v2-338/deposit) | $3.46M | $1.38k | +$1.64M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $34.1M | $6.86k | \-$387M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $181M | $1.95k | \-$521M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $99.7M | $9.97k | \-$570M | ### TVL Winners & Losers USDC/crvUSD was the biggest TVL loser, as PegKeepers withdrew from USDC while borrowing demand surged. RLUSD won the week of TVL increases. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $80.2M | +$17.6M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $23.9M | +$9.91M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-701/deposit) | $25.1M | +$8.53M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $43M | \-$5.8M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-252/deposit) | $141M | \-$9.95M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $67.1M | \-$86.5M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers The crvUSD minting explosion was broad-based, with wstETH leading but every market experiencing an increase, except for the depreciated sfrxETHv1 market. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $31.5M | $19.3M | +$13.5M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $13.5M | $10.2M | +$10M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $47.2M | $21.4M | +$8.68M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $7.5M | $4.69M | +$24.6k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $3.18 | $1.04 | +$0.00215 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $363k | $153k | \-$45.7 | ### Lend Markets - Borrowing Winners & Losers Lend market borrowing was subdued compared to the minting side. sfrxUSD shed $688k — a sharp reversal from last week — and Ethereum WETH gave back $180k. Gains were small across the board, with sUSDe and WBTC managing only modest increases. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.79M | $2M | +$73.2k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.65M | $2.6M | +$61.2k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $29M | $19.1M | +$7.21k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $965k | $739k | \-$56.4k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $1.05M | $580k | \-$180k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $15.6M | $11.2M | \-$688k | ### Lend Markets - Supplying Winners & Losers Supplier flows continued the rotation out of major lending markets and into direct crvUSD minting. sreUSD shed $263k, while sfrxUSD gave back $124k. Gains were minimal — asdCRV on Arbitrum led with just $18.2k. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $803k | $403k | +$18.2k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x11cdb42b0eb46d95f990bedd4695a6e3fa034978.png)CRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-4/vault/deposit) | $20.9k | $10.2k | +$2.24k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.79M | $2M | +$1.22k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $965k | $739k | \-$61.3k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $15.6M | $11.2M | \-$124k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $29M | $19.1M | \-$263k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 17, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-17-2026/ Last updated: 2026-04-23T11:56:05.000Z ## Market Overview It’s been a hard week for the industry, with the LayerZero hack affecting KelpDAO’s rsETH reverberating throughout DeFi. Fortunately, Curve has fared well, with TVL down only 1.9% to $2.05B. crvUSD also held up exceptionally well, with minted supply increasing by 41% while staying firmly on peg. This is a good time for reflection, to harden security, and reevaluate all trust assumptions. For this reason, the DAO is currently voting on whether to remove [Aave's GHO stablecoin from the PegKeepers](https://www.curve.finance/dao/ethereum/proposals/1394-ownership), and [sunset select Llamalend markets](https://gov.curve.finance/t/crv-long-llamalend-market-next-steps/11045) (as best the DAO can). As always, see all highlighted opportunities and weekly metrics, available below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $13.6M | 11.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $14M | 4.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $18.3M | 3.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $154M | 3.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $15.7M | 2.1% | ### Other Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4aa8949bb47da4b4f27345404ba1e5e7ea90bdb3.png)sJUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-686/deposit) | Pool | 20.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-578/deposit) | Pool | 17.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-663/deposit) | Pool | 15.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/lend/#/fraxtal/markets/one-way-market-1/vault/deposit) | Llamalend | 14.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-650/deposit) | Pool | 14.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 14.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6440f144b7e50d6a8439336510312d2f54beb01d.png)BOLD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5f98805a4e8be255a32880fdec7f6728c6568ba0.png)LUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-456/deposit) | Pool | 12.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0d86883faf4ffd7aeb116390af37746f45b6f378.png)USD3![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-231/deposit) | Pool | 12.7% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 9.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | ETH | 6.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x85b78aca6deae198fbf201c82daf6ca21942acc6.png)ARM-WETH-stETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-641/deposit) | ETH | 5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 2.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 1.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 1.0% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x11cdb42b0eb46d95f990bedd4695a6e3fa034978.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/arbitrum/pools/factory-tricrypto-27/deposit) | CRV | 10.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfcc5c47be19d06bf83eb04298b026f81069ff65b.png)yCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-280/deposit) | CRV | 9.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 3.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.4% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD minted supply increased massively, up 41%. As BTC and ETH rose through the week, the YieldBasis pools also absorbed more crvUSD, putting upward pressure on the peg, sucking crvUSD from scrvUSD, and causing PegKeepers to deploy and the DAO to profit handsomely. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $27M | +41.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 1.2% | \-1.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 93.2% | \-58.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $1.0 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 0.6% | \-2.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $146M | +$108M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $7.63k | +$6.54k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) saw with large inflows, possibly as users came over from other platforms to take advantage of the low rates available. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $128M | +15.7% | | 🦙 Supplied | $60.7M | \-2.0% | | 🦙 Borrowed | $69.6M | +20.1% | | 🦙 Collateral | $110M | +25.6% | | 🦙 Loans | 949 | +20 | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) saw a huge increase in volume and fees due to market turbulence. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.05B | \-1.9% | | 🔄 Volume | $2.14B | +235.2% | | 🔄 Swaps | 355k | +18.8% | | 🔄 Total Fees | $476k | +186.4% | ### DAO DAO members saw a positive real yield, with veCRV APR above the CRV inflation rate. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.51B | +0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 856M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 780M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $174k | +122.8% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV APR | 5.256% | +2.922% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $513k (2.22M CRV) | +6.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.871% | \-0.005% | ## Top Stableswap Pools stETH saw huge fees this week as pressure from the rsETH hack reverberated through ETH derivatives. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $702.4M | $7.7k | | 2 | +20 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $669.4M | $66.9k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $442.6M | $10.6k | | 4 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $420.7M | $92.8k | | 5 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $227.8M | $25.1k | | 6 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $221.6M | $22.2k | | 7 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $189.2M | $19.4k | | 8 | +22 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $175.8M | $14.1k | | 9 | \-7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $116.4M | $17.5k | | 10 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $106.8M | $1.8k | ## Top Cryptoswap Pools stETH was also in demand within Cryptoswap pools through its wrapped-stETH token. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $17.2M | $8.4k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $16.1M | $7.8k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $11.0M | $13.8k | | 4 | +32 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae78736cd615f374d3085123a210448e74fc6393.png)rETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-14/deposit) | $5.3M | $2.1k | | 5 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $5.1M | $3.3k | | 6 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $3.5M | $1.2k | ## Gauge Winners & Losers It’s an off week for Convex, so gauge changes were very small across the board. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------ | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $66.7M | 66.6k | +156 | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | $10.2M | 21.4k | +46.2 | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | $8.42M | 123k | +38.3 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | $12.1M | 230k | \-356 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3.png)MIM![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/mim/deposit) | $11.3M | 36.3k | \-375 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $13.6M | 258k | \-425 | ## DEX Winners & Losers ### Fees Winners & Losers RLUSD, stETH, and USDtb all saw a huge increase in demand, while USDC/USDT/DAI liquidity was less in demand than usual. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $421M | $92.8k | +$80.9k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $669M | $66.9k | +$66.3k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $189M | $19.4k | +$17.5k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | $1.81M | $751 | \-$1.31k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $3.42M | $1.37k | \-$1.39k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $116M | $17.5k | \-$10.4k | ### Volume Winners & Losers stETH was also the biggest winner for volume increase, rising roughly 100x compared to last week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $669M | $66.9k | +$663M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $702M | $7.73k | +$437M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $443M | $10.6k | +$368M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $34.5M | $3.52k | \-$3.64M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $39.2M | $4.91k | \-$13.9M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $116M | $17.5k | \-$69.5M | ### TVL Winners & Losers The USDC/crvUSD pool was the TVL winner, as PegKeepers deployed reserves. YieldBasis pools also saw reductions in TVL as their pools finally returned to balance. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $154M | +$96.4M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x07041776f5007aca2a54844f50503a18a72a8b68.png)USAT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-732/deposit) | $10M | +$10M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $48.8M | +$6.09M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-253/deposit) | $67.3M | \-$23.2M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-252/deposit) | $151M | \-$26.1M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $62.7M | \-$28M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers All crvUSD markets saw inflows, with the wstETH market seeing the largest borrowing increase. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $12M | $5.8M | +$4.06M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $31.1M | $12.7M | +$2.24M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $7.65M | $4.67M | +$1.15M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $347k | $147k | +$2.64k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $371k | $153k | +$6.65 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $3.24 | $1.04 | +$0.00258 | ### Lend Markets - Borrowing Winners & Losers sfrxUSD saw the biggest increase, but notably there were no substantial decreases in borrowing across any market. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $15.7M | $11.9M | +$2.17M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $29.2M | $19.1M | +$1.11M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.79M | $1.93M | +$323k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09db87a538bd693e9d08544577d5ccfaa6373a48.png)ynETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-23/vault/deposit) | $24.5k | $2.57k | \-$6.09k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $1.03M | $795k | \-$72.7k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $3.26M | $3.26M | \-$101k | ### Lend Markets - Supplying Winners & Losers There appears to have been a large shift in lending markets this week, with crvUSD suppliers moving from sreUSD to sfrxUSD, while many exited the CRV/crvUSD market as voting continues on whether it should be sunset. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $15.7M | $11.9M | +$2.55M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-9/vault/deposit) | $445k | $244k | +$31.4k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $373k | $320k | +$28.1k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $1.03M | $795k | \-$125k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $3.26M | $3.26M | \-$920k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $29.2M | $19.1M | \-$2.61M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 16, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-16-2026/ Last updated: 2026-04-16T07:25:27.000Z ## Market Overview Curve TVL rose another 3.9% this week to **$2.09B**, with the broader backdrop for crvUSD still looking calm and well-supported. Here's the news: - A new vote would reduce scrvUSD's share of crvUSD minting fees from 80% back to 50% now that crvUSD has stabilized, sending a larger share of those fees back to veCRV holders if it passes. [Vote link](https://www.curve.finance/dao/ethereum/proposals/1385-ownership) - Funding for Swiss Stake to develop and run operations for Curve looks set to pass with near-unanimous support, with participation already above 68% of veCRV. [Vote link](https://www.curve.finance/dao/ethereum/proposals/1381-ownership) - Borrowing conditions kept easing through the week: average crvUSD minting rates fell to 3.3%, the peg held firm, and PegKeepers expanded reserves above $38M. As always, see all the highlighted opportunities and weekly metrics below. *Also, I’ll be trying to continue this newsletter (publishing slightly earlier) for as long as I am able.* ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $16M | 8.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $42.7M | 7.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $16.6M | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) | $28.9M | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $15M | 2.9% | ### Other Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09fd37d9aa613789c517e76df1c53aece2b60df4.png)ebUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-778/deposit) | Pool | 28.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-771/deposit) | Pool | 20.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-343/deposit) | Pool | 17.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-578/deposit) | Pool | 17.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 14.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-650/deposit) | Pool | 13.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-663/deposit) | Pool | 13.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x48f9e38f3070ad8945dfeae3fa70987722e3d89c.png)iUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-643/deposit) | Pool | 12.2% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x85b78aca6deae198fbf201c82daf6ca21942acc6.png)ARM-WETH-stETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-641/deposit) | ETH | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 1.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://curve.finance/dex/#/optimism/pools/factory-v2-63/deposit) | BTC | 0.7% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 10.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x11cdb42b0eb46d95f990bedd4695a6e3fa034978.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/arbitrum/pools/factory-tricrypto-27/deposit) | CRV | 10.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 5.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 4.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 3.5% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD conditions continued to improve this week. Borrow rates fell again, the peg stayed effectively at $1, and PegKeeper reserves expanded sharply to $38.5M, with their operations creating profit for the DAO. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $19.1M | \-0.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 3.1% | \-1.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 151.3% | \-5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $1.0 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 3.3% | \-1.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $38.5M | +$34.8M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $1.09k | +$1.09k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) had a positive week, with some users borrowing more as collateral values rose. The drop in supplied balances was largely driven by outflows from the sreUSD lending market. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $111M | +0.4% | | 🦙 Supplied | $62M | \-3.7% | | 🦙 Borrowed | $58M | +3.0% | | 🦙 Collateral | $87.6M | +5.6% | | 🦙 Loans | 929 | \-8 | ### DEX As more swaps through Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) now happen on L2s, we saw more trades but lower total volume. Total fees still rose, largely because 3pool, which has a higher admin fee and base fee than many other pools, took a larger share of weekly volume. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.09B | +3.9% | | 🔄 Volume | $640M | \-17.6% | | 🔄 Swaps | 299k | +6.0% | | 🔄 Total Fees | $166k | +9.1% | ### DAO DAO members saw higher fee generation this week, with stronger DEX fees lifting the weekly veCRV distribution to $78k. The value of CRV emissions also rose in USD terms as the CRV token appreciated. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.5B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 857M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 781M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $78.2k | +16.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV APR | 2.334% | +0.261% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $482k (2.22M CRV) | +2.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.875% | \-0.004% | ## Top Stableswap Pools Stablecoin flow rotated again this week. 3pool surged back into second with by far the biggest fee take, PYUSD/USDC also jumped sharply, and the new USDC/USDat pool entered the top 10 immediately. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $265.8M | $3.2k | | 2 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $185.9M | $27.9k | | 3 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $77.1M | $8.2k | | 4 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $74.8M | $1.4k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $70.0M | $7.0k | | 6 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $58.5M | $12.0k | | 7 | \-4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $56.4M | $885.3 | | 8 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $53.1M | $3.6k | | 9 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $38.1M | $3.9k | | 10 | +16 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-789/deposit) | $28.1M | $2.8k | ## Top Cryptoswap Pools Cryptoswap rankings were extremely stable again, with the four core Tricrypto pools unchanged at the top. The only real mover was WETH/cbETH on Base, which climbed back into the leaderboard as activity elsewhere stayed muted. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | -- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $10.7M | $6.2k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $10.7M | $6.0k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $5.0M | $2.6k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $4.7M | $10.1k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $2.7M | $911.6 | | 6 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://curve.finance/dex/#/base/pools/factory-crypto-1/deposit) | $1.4M | $438.3 | ## Gauge Winners & Losers It was a big week for gauge emission rotations. msETH/WETH and PYUSD/crvUSD picked up the biggest increases, while emissions were cut most aggressively from MUSD/USDC/USDT. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $18.7M | 117k | +48.2k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $42.7M | 49.3k | +43.7k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-771/deposit) | $625k | 15.1k | +14.8k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa35b1b31ce002fbf2058d22f30f95d405200a15b.png)ETHx](https://curve.finance/dex/#/ethereum/pools/factory-v2-338/deposit) | $4.48M | 86.8 | \-7.15k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-401/deposit) | $1.31M | 2.89k | \-7.69k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-518/deposit) | $1.64M | 7.27k | \-25.5k | ## DEX Winners & Losers ### Fees Winners & Losers Fee growth was dominated by 3pool this week, with PYUSD/USDC a distant second. RLUSD was the biggest fee decliner, reflecting its bursty trading pattern. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $186M | $27.9k | +$20.5k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $77.1M | $8.17k | +$5.63k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x38eeb52f0771140d10c4e9a9a72349a329fe8a6a.png)apyUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-779/deposit) | $2.22M | $4.44k | +$3.25k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | $5.02M | $2.06k | \-$2.89k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $880k | $2.92k | \-$3.36k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $58.5M | $12k | \-$10.2k | ### Volume Winners & Losers Volume rotated back toward classic stablecoin routing. 3pool, PYUSD/USDC, and the new USDC/USDat pool were the main gainers, while the USDS pools cooled sharply from their prior highs. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $186M | $27.9k | +$136M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $77.1M | $8.17k | +$53.1M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x23238f20b894f29041f48d88ee91131c395aaa71.png)USDat](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-789/deposit) | $28.1M | $2.83k | +$23.8M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $56.4M | $885 | \-$94.8M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $266M | $3.21k | \-$165M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $74.8M | $1.43k | \-$225M | ### TVL Winners & Losers The PegKeepers started deploying this week, making USDC/crvUSD the biggest TVL gainer. OETH/WETH and the new USD1 pool also attracted meaningful capital, while PYUSD/crvUSD and RLUSD both gave back liquidity. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $57.2M | +$33.5M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $68M | +$11.3M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8d0d000ee44948fc98c9b98a4fa4921476f08b0d.png)USD1![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-553/deposit) | $10M | +$10M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/frxeth/deposit) | $1.92M | \-$2.46M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $90.7M | \-$6.33M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $42.7M | \-$10.7M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers Borrowing demand increased across all but one market, WETH. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $1.94M | $999k | +$174k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $24.2M | $10.5M | +$101k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $3.63M | $1.74M | +$39.1k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $337k | $145k | +$132 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $3.14 | $1.03 | +$0.00235 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $2.53M | $1.29M | \-$517k | ### Lend Markets - Borrowing Winners & Losers Borrow demand concentrated heavily in sfrxUSD this week, with wstETH a distant second. Outside that, most markets were quiet, which makes the sfrxUSD move the only truly significant shift. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $13.2M | $9.72M | +$1.75M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $1.15M | $868k | +$137k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.76M | $1.6M | +$15.3k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.18M | $3.37M | \-$6.34k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://curve.finance/lend/#/optimism/markets/one-way-market-2/vault/deposit) | $22.2k | $0.12 | \-$13.3k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $1.08M | $734k | \-$22k | ### Lend Markets - Supplying Winners & Losers Supplier flows told a similar story: sfrxUSD and WBTC pulled in fresh capital, while sreUSD remained the main source of outflows. sDOLA also continued to unwind. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $13.2M | $9.72M | +$1.14M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.65M | $2.32M | +$745k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $1.15M | $868k | +$179k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.76M | $1.6M | \-$186k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $573k | $59.5k | \-$362k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $31.8M | $18M | \-$3.71M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 15, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-15-2026/ Last updated: 2026-04-09T12:46:59.000Z ## Market Overview Green shoots appeared for Curve this week. Here's the news: - TVL moved back above $2B, rising 3.9% to **\*\*$2.009B\*\*** - The crvUSD price moved above $1.00, while borrowing rates decreased, borrowed supply increased slightly, and PegKeepers began to refill. - [YieldBasis](https://yieldbasis.com/earn) launched the first of its Hybrid vaults with WETH, offering a way to earn yield on WETH and crvUSD separately while helping strengthen crvUSD. As always, see below for all the highlighted yields and weekly metrics. *After 70 consecutive weeks of yield reports, this is my (Saint Rat's) final yield newsletter. Thank you for taking the time to read these, and I hope they provided value.* ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $15.9M | 8.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) | $30.2M | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $18.4M | 3.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $14.2M | 2.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $23.7M | 2.6% | ### Other Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb13997f4d83ef343845d0baeb27d1173df8c224.png)BUCK![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-687/deposit) | Pool | 20.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-578/deposit) | Pool | 17.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 16.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/lend/#/fraxtal/markets/one-way-market-1/vault/deposit) | Llamalend | 15.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-650/deposit) | Pool | 14.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-590/deposit) | Pool | 12.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-663/deposit) | Pool | 11.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-518/deposit) | Pool | 11.4% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 6.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-303/deposit) | ETH | 4.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | ETH | 4.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 3.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 1.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-264/deposit) | BTC | 0.4% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x11cdb42b0eb46d95f990bedd4695a6e3fa034978.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/arbitrum/pools/factory-tricrypto-27/deposit) | CRV | 10.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfcc5c47be19d06bf83eb04298b026f81069ff65b.png)yCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-280/deposit) | CRV | 9.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 5.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.3% | ## Weekly Metrics ### crvUSD & scrvUSD After crvUSD minted supply stabilized last week, this week there was positive minted supply growth, which feels like all the hard work is finally starting to pay off. The crvUSD price was also above $1.00, causing PegKeepers to start deploying their reserves. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $19.3M | +0.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 4.3% | +0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 156.7% | \-21.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $1.0001 | +$0.0031 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 5.0% | \-1.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $3.71M | +$3.71M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $0 | \- | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) was mixed but constructive. TVL and collateral recovered, while supplied and borrowed balances both slipped slightly. The increase in loan count suggests more positions were active again, just not at larger average size. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $110M | +0.9% | | 🦙 Supplied | $64.3M | \-3.2% | | 🦙 Borrowed | $56.3M | \-1.8% | | 🦙 Collateral | $82.9M | +2.4% | | 🦙 Loans | 937 | +12 | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) recovered in volume terms this week, but the composition mattered: swaps fell, fees fell, and only volume rose. That usually points to larger flow-driven trades concentrated in low-fee stablecoin routes, which is largely what we saw. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.01B | +2.3% | | 🔄 Volume | $776M | +30.0% | | 🔄 Swaps | 282k | \-5.2% | | 🔄 Total Fees | $152k | \-7.9% | ### DAO DAO metrics bounced off last week's softer base. veCRV distribution and APR both recovered meaningfully, though CRV emissions in USD continued to edge lower alongside CRV price. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.5B | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 857M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 783M | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $67.1k | +36.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV APR | 2.073% | +0.482% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $471k (2.22M CRV) | \-1.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.88% | \-0.005% | ## Top Stableswap Pools The rebound in DEX activity was overwhelmingly a stablecoin story. PYUSD/USDS and sUSDS/USDT both snapped back, RLUSD kept generating outsized fees, and PYUSD/crvUSD jumped back into the top 10 as liquidity returned. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $431.0M | $5.3k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $299.6M | $3.5k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $151.2M | $1.6k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $108.3M | $22.1k | | 5 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $59.0M | $5.9k | | 6 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $49.4M | $7.4k | | 7 | +13 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $39.1M | $2.8k | | 8 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $32.3M | $3.2k | | 9 | +13 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $24.4M | $3.3k | | 10 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $24.0M | $2.5k | ## Top Cryptoswap Pools Cryptoswap activity was still comparatively subdued, with the usual Tricrypto pools holding the board. The interesting exception was crvUSD/YB, which climbed into the top six on relatively small but high-fee flow. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $10.3M | $5.9k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $10.2M | $5.7k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $4.9M | $2.8k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $4.2M | $8.8k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $2.9M | $967.3 | | 6 | +6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $1.6M | $6.3k | ## Gauge Winners & Losers It was Convex's off week, so gauge votes were almost unchanged. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3.png)MIM![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/mim/deposit) | $10.1M | 40.3k | +2.28k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x501ebf66d76a96d4fb26ccead42957653e16b8b8.png)evaUSDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-771/deposit) | $60.1k | 323 | +323 | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | $9.83M | 110k | +226 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-688/deposit) | $294k | 2.56k | \-174 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $56.7M | 72.8k | \-208 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $15.9M | 256k | \-2.28k | ## DEX Winners & Losers ### Fees Winners & Losers Fee growth centered on RLUSD and crvUSD-linked routes this week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $108M | $22.1k | +$8.66k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $1.57M | $6.28k | +$4.11k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $59M | $5.9k | +$2.45k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $4.19M | $8.76k | \-$4k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x83f20f44975d03b1b09e64809b757c47f942beea.png)sDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-102/deposit) | $3.82M | $783 | \-$5.44k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $10.4M | $4.18k | \-$7.4k | ### Volume Winners & Losers The rebound in DEX volume was almost entirely driven by core stablecoin routing, led by USDS pools and USDC/USDT. By contrast, last week's big movers like USDtb and sDAI/sUSDe gave back flow. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $300M | $3.46k | +$229M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $151M | $1.61k | +$89.1M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $431M | $5.27k | +$51.4M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $10.4M | $4.18k | \-$18.5M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $8.41M | $852 | \-$20.4M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x83f20f44975d03b1b09e64809b757c47f942beea.png)sDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-102/deposit) | $3.82M | $783 | \-$26.9M | ### TVL Winners & Losers Liquidity rotated to the PYUSD/crvUSD PegKeeper pool and YieldBasis's crvUSD/WETH pool as it deployed its new Hybrid vaults. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $53.4M | +$15.9M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-316/deposit) | $52.4M | +$7.27M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $92.9M | +$6.31M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-117/deposit) | $2.01M | \-$2.37M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $97M | \-$6.35M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-35/deposit) | $54.9M | \-$10.8M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers There were no net outflows from any minting market this week, which is a very positive development. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $22.9M | $10.4M | +$119k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $3.27M | $1.7M | +$50.4k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $1.41M | $826k | +$25.5k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $350k | $152k | +$844 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $313k | $144k | +$613 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $2.97 | $1.03 | +$0.00563 | ### Lend Markets - Borrowing Winners & Losers Borrow demand rotated meaningfully out of sreUSD and back toward sUSDe, with CRV also seeing a decent pickup. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.95M | $1.59M | +$186k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.34M | $3.37M | +$75.9k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $12M | $7.97M | +$55.5k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $867k | $424k | \-$7.51k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $972k | $731k | \-$34.5k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $35.5M | $18M | \-$1.5M | ### Lend Markets - Supplying Winners & Losers Supplier behavior told the same story even more clearly: sreUSD saw the largest outflow by far, while CRV, WETH, and sfrxUSD markets absorbed modest inflows. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.34M | $3.37M | +$58.2k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $1.06M | $756k | +$43.7k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $12M | $7.97M | +$41.7k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $2.91M | $2.32M | \-$51.9k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-10/vault/deposit) | $358k | $210k | \-$58k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $35.5M | $18M | \-$2.19M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Monthly Recap March, 2026 URL: https://news.curve.finance/curve-monthly-recap-march-2026/ Last updated: 2026-04-07T12:48:36.000Z ### Key Highlights of March - **FastBridge launched**, enabling \~15-minute crvUSD withdrawals from L2s to Ethereum - **GHO PegKeeper created** with a 3M crvUSD debt ceiling, deepening the Curve-Aave integration - **crvUSD borrow rates eased** via governance, halving average rates from \~11% to \~5.6% - **Curve Knowledge Hub** went live at docs.curve.finance, unifying all documentation - **FXSwap Simulations** article published, showing how Curve optimizes pool parameters - **crvUSD flashloan cap raised** from 3M to 30M crvUSD (Vote 1355) \* - **Stable Summit IV** in Cannes with Curve - **PancakeSwap code dispute** – Curve flagged unauthorized use of StableSwap code ## FastBridge: Instant L2-to-Ethereum crvUSD Transfers The biggest infrastructure release of the month was **FastBridge**, which removes the seven-day withdrawal delay for crvUSD bridging from L2 networks back to Ethereum. Using LayerZero cross-chain messaging combined with canonical bridge settlement, FastBridge enables crvUSD to move from Arbitrum, Optimism, or Fraxtal to Ethereum in roughly **15 minutes**. An Ethereum-side vault releases pre-minted crvUSD upon receiving the LayerZero confirmation, while the canonical bridge settles in the background and replenishes the vault. This is critical infrastructure for cross-chain peg stability. When L2 prices drift from mainnet, arbitrageurs can now respond immediately rather than waiting a week which helps keeping crvUSD closer to mainnet peg everywhere. Safety mechanisms include debt ceilings per vault, daily bridge limits per L2, minimum bridge amounts, and an Emergency DAO kill switch. [FastBridge: Bringing Fast L2 Withdrawals to crvUSDFastBridge removes the seven-day withdrawal delay for crvUSD bridging from L2 networks to Ethereum. Using LayerZero messaging and a vault-based design, it enables very fast transfers while preserving canonical bridge security and strengthening the crvUSD peg across chains.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-51.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/Frame-1171274458.png)](https://news.curve.finance/fastbridge-bringing-fast-l2-withdrawals-to-crvusd/) ## GHO PegKeeper: Curve x Aave Integration Governance approved the creation of a **new crvUSD PegKeeper for Aave's GHO stablecoin** ([Vote 1358](https://www.curve.finance/dao/ethereum/proposals/1358-ownership)), with a **3M crvUSD debt ceiling**. This initiates another cross-protocol milestone, linking crvUSD's peg defense infrastructure directly with Aave's GHO stablecoin liquidity. The PegKeeper can mint and deposit crvUSD into [GHO/crvUSD](https://www.curve.finance/dex/ethereum/pools/0x635ef0056a597d13863b73825cca297236578595/deposit) pools to support peg stability for crvUSD. ## crvUSD Borrow Rate Easing Following the monetary policy changes introduced in January and the peg defense measures from February, March saw further easing of crvUSD borrow rates through [**Vote 1364**](https://www.curve.finance/dao/ethereum/proposals/1364-ownership) in order for the markets to stay competitive within DeFi. Average borrow rates declined from **\~11.1% at the start of the month to \~5.6% by month end**, making crvUSD minting significantly more attractive. The peg remained stable throughout, trading between **$0.9993 and $1.0000**. ## Curve Knowledge Hub All Curve documentation was unified into a single platform at **docs.curve.finance** with the launch of the **Curve Knowledge Hub**. The Hub consolidates user guides, developer references, protocol explanations, and a new "Build on Curve" section into one searchable destination. Key features include: - **Algolia-powered search** with AI enhancements for natural language queries - **MCP integration** for AI-assisted development workflows - **Ecosystem news** from news.curve.finance integrated directly - **Beginner-friendly onboarding** guides for users new to DeFi [Curve Knowledge Hub: A Unified Home for Curve DocumentationThe Curve Knowledge Hub unifies all Curve documentation into a single, searchable platform at docs.curve.finance. Designed for users, developers, and protocols alike, it serves as the new source of truth for understanding, using, and building on Curve.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-52.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/crvUSD-2-Years-Anniversary.png)](https://news.curve.finance/curve-knowledge-hub-a-unified-home-for-curve-documentation/) ## FXSwap Simulations: Behind the Scenes A detailed article and video were published explaining how Curve uses **large-scale backtesting simulations** to optimize FXSwap pool parameters before deployment. Millions of parameter combinations are tested against years of historical price data to find configurations that minimize slippage, maintain pool balance, and maximize profitability. FXSwap pools are already live on YieldBasis (BTC/crvUSD, ETH/crvUSD) and several FX pilot pools (CHF, GBP, BRZ, IDR). The publication increases transparency into Curve's AMM design process and provides a framework for asset issuers considering on-chain FX liquidity. [FXSwap: How Curve Optimizes Liquidity PoolsMillions of simulations. Years of data. See how Curve optimizes FXSwap pools before they go live and why it matters for on-chain FX liquidity.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-53.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/image-1-1.png)](https://news.curve.finance/fxswap-simulations/) ## PancakeSwap Code Dispute Curve publicly flagged that PancakeSwap's "Infinity StableSwap" upgrade appeared to use **Curve's StableSwap code without proper licensing**. PancakeSwap acknowledged the concern and indicated willingness to engage. Curve signaled a collaborative resolution, noting it is "better to be friends and build together." > Dear [@PancakeSwap](https://twitter.com/PancakeSwap?ref%5Fsrc=twsrc%5Etfw). Looks like you copied our code without asking. It is violation of its license. Not only it is illegal: historically it showed to be unwise for those who did it this way in other regards. > > In any case. If you want to enjoy using stableswap without legal… [pic.twitter.com/UbIi7dpfkB](https://t.co/UbIi7dpfkB) > > — Curve Finance (@CurveFinance) [March 6, 2026](https://twitter.com/CurveFinance/status/2029925614929559839?ref%5Fsrc=twsrc%5Etfw) ### crvUSD Flashloan Cap Raised: 3M -> 30M Governance approved [**Vote 1355**](https://www.curve.finance/dao/ethereum/proposals/1355-ownership), raising the crvUSD flashloan cap **10x from 3M to 30M crvUSD**. The higher ceiling expands headroom for arbitrage, liquidations, and integrations that rely on flashloan-based routing through crvUSD, supporting deeper market efficiency around the peg without requiring locked-up capital. ### Curve at Stable Summit IV **Stable Summit IV** this year took place in **Cannes** with Curve as one of the main sponsors again. Curve contributors delivered several talks: - **Michael Egorov** on **YieldBasis and FXSwap**: [https://x.com/stable\_summit/status/2037566367834997075](https://x.com/stable%5Fsummit/status/2037566367834997075%29) - **Michael K.** on **FXSwap and the simulation pipeline** behind pool parameter design: - **0xtutti** on **LlamaLend V2**: [https://x.com/stable\_summit/status/2038553766459273448](https://x.com/stable%5Fsummit/status/2038553766459273448%29) --- ### Curve Best Yields & Key Metrics | Week 14, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-14-2026/ Last updated: 2026-04-02T12:29:55.000Z ## Market Overview Curve TVL slipped back below $2B this week, falling 2.0% to **$1.96B**. The main factor is macro conditions reducing appetite for risk, also causing DEX volumes to fall and yields to compress. [Swiss Stake has posted their new grant extension proposal](https://gov.curve.finance/t/swiss-stake-mid-term-review-and-grant-extension-proposal/11032) on the governance forum. Please read through it and provide any feedback you feel could help. As always, see all the highlighted opportunities and weekly metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $15.6M | 12.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $37.5M | 8.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) | $34.1M | 4.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $18.6M | 2.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $21.7M | 2.6% | ### Other Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-590/deposit) | Pool | 23.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb13997f4d83ef343845d0baeb27d1173df8c224.png)BUCK![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-687/deposit) | Pool | 21.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-578/deposit) | Pool | 20.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-677/deposit) | Pool | 18.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 15.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-518/deposit) | Pool | 15.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/lend/#/fraxtal/markets/one-way-market-1/vault/deposit) | Llamalend | 14.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-650/deposit) | Pool | 13.1% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 9.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 9.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 8.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 1.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/base/pools/factory-stable-ng-317/deposit) | BTC | 0.7% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x11cdb42b0eb46d95f990bedd4695a6e3fa034978.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/arbitrum/pools/factory-tricrypto-27/deposit) | CRV | 9.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfcc5c47be19d06bf83eb04298b026f81069ff65b.png)yCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-280/deposit) | CRV | 8.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 7.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 3.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.1% | ## Weekly Metrics ### crvUSD & scrvUSD The minted crvUSD supply has finally stabilized now that borrowing rates were manually decreased, even as the peg is lower than usual. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $19.1M | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 4.0% | \-0.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 178.2% | \-3.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.997 | \-$0.0024 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 6.5% | +0.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $0 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $0 | \-$700 | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) was quiet this week. Aggregate balances barely moved; the only noticeable decline was due to collateral values decreasing. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $109M | \-1.8% | | 🦙 Supplied | $66.4M | \-0.8% | | 🦙 Borrowed | $57.3M | \-0.1% | | 🦙 Collateral | $81M | \-1.9% | | 🦙 Loans | 925 | \-2 | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) had a clear cooldown week. TVL only fell modestly, but volume, swaps, and fees all dropped much more sharply due to quieter than usual markets. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.96B | \-2.0% | | 🔄 Volume | $597M | \-29.3% | | 🔄 Swaps | 298k | \-30.8% | | 🔄 Total Fees | $166k | \-36.2% | ### DAO CRV emissions in USD terms decreased this week due to the CRV price falling. The veCRV distribution was also lower this week after last week's spike. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.49B | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 857M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 781M | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $49.2k | \-57.9% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV APR | 1.591% | \-1.809% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $480k (2.22M CRV) | \-5.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.885% | \-0.004% | ## Top Stableswap Pools PYUSD/USDS still dominated this week, while RLUSD continued to punch above its size on fees, and Ethena's USDtb re-entered the leaderboard with a big jump in volume. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $379.7M | $4.5k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $70.6M | $1.4k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $66.6M | $13.5k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $62.1M | $937.2 | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $50.4M | $7.6k | | 6 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $34.5M | $3.4k | | 7 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x83f20f44975d03b1b09e64809b757c47f942beea.png)sDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-102/deposit) | $30.7M | $6.2k | | 8 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $29.0M | $11.6k | | 9 | +17 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $28.8M | $3.1k | | 10 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $20.4M | $2.0k | ## Top Cryptoswap Pools Cryptoswap activity stayed very conventional this week, with the major Tricrypto pools holding the top spots again. The more interesting move was the Gnosis EURe/WXDAI/USDC/USDT pool pushing into the top six. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $11.4M | $6.4k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $9.7M | $5.9k | | 3 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $6.8M | $12.8k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $5.7M | $3.1k | | 5 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $3.7M | $1.2k | | 6 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x320623b8e4ff03373931769a31fc52a4e78b5d70.png)RSR](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-21/deposit) | $1.8M | $1.5k | ## Gauge Winners & Losers It was a big week for gauge rotations. RAAC's pmUSD pools were the big winners (as well as the biggest loser), while OETH/WETH also increased their emissions by a large amount. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe6a60d2886b11256c24c128210159133096e5ccf.png)iREET](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-349/deposit) | $7.17M | 94.4k | +94.4k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $53.2M | 73k | +53.4k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $15.6M | 258k | +43.7k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-147/deposit) | $1.4M | 3.23 | \-18.3k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-283/deposit) | $5.53M | 88.7k | \-29.6k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | $16.1M | 225k | \-45.4k | ## DEX Winners & Losers ### Fees Winners & Losers Fee gains were relatively modest and scattered, which fits the broader cooldown. The more notable story is on the downside: USR and DOLA-linked pools cooled after the unfortunate exploit of USR last week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xaf5191b0de278c7286d6c7cc6ab6bb8a73ba2cd6.png)STG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-crypto-37/deposit) | $1.38M | $4.75k | +$3.71k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $29M | $11.6k | +$3.02k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | $18.6M | $7.64k | +$2.83k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $66.6M | $13.5k | \-$11.9k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $1.07M | $202 | \-$16.4k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1202f5c7b4b9e47a1a484e8b270be34dbbc75055.png)wstUSR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-568/deposit) | $644 | $0.851 | \-$21.6k | ### Volume Winners & Losers Volume rotated into smaller pockets like USDtb, OETH/WETH, and sDAI/sUSDe, while many of the top pools last week cooled significantly this week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $28.8M | $3.08k | +$17.6M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $15.7M | $1.59k | +$14.3M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x83f20f44975d03b1b09e64809b757c47f942beea.png)sDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-102/deposit) | $30.7M | $6.22k | +$9.24M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $66.6M | $13.5k | \-$58.1M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $62.1M | $937 | \-$109M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $70.6M | $1.37k | \-$140M | ### TVL Winners & Losers Fresh liquidity still found its way into RLUSD and a few newer pools, even in a softer week overall. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $103M | +$9.26M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $10.5M | +$2.5M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x98a878b1cd98131b271883b390f68d2c90674665.png)apxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-701/deposit) | $7.49M | +$2M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xdbfefd2e8460a6ee4955a68582f85708baea60a3.png)superOETHb](https://curve.finance/dex/#/base/pools/factory-stable-ng-143/deposit) | $22.3M | \-$5.42M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $37.5M | \-$5.58M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-35/deposit) | $65.7M | \-$9.08M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers crvUSD minting markets were very quiet again. tBTC was the only market with a clearly positive move, while WETH saw the only meaningful paydown among the larger markets. Overall, these markets were effectively flat. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $5.06M | $3.47M | +$101k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $1.31M | $800k | +$9k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $3.05M | $1.65M | +$538 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $1.14M | $802k | \-$987 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $21.3M | $10.3M | \-$8.26k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $2.8M | $1.8M | \-$154k | ### Lend Markets - Borrowing Winners & Losers Lend borrowing was mostly noise this week. Changes were small across the board, suggesting borrowers were largely sitting tight rather than rotating aggressively between markets. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.94M | $1.4M | +$35.1k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $2.96M | $2.32M | +$12.7k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $998k | $765k | +$10.2k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-31/vault/deposit) | $27.9k | $3.99k | \-$23.1k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.28M | $3.3M | \-$25.9k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $37.7M | $19.5M | \-$75.9k | ### Lend Markets - Supplying Winners & Losers Supply flows were more informative than borrow flows. Liquidity moved strongly into sfrxUSD, while sreUSD saw a similarly large reduction, suggesting rotation between preferred staked stable venues rather than a broad withdrawal from Llamalend. sDOLA also continued to leak supply at the margin. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $12M | $7.92M | +$1.46M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $998k | $765k | +$77.9k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $849k | $431k | +$30k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.94M | $1.4M | \-$154k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $932k | $58.7k | \-$213k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $37.7M | $19.5M | \-$1.45M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 13, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-13-2026/ Last updated: 2026-03-26T12:20:18.000Z ## Market Overview [The rate has been eased!](https://www.curve.finance/dao/ethereum/proposals/1364-ownership) Borrowing crvUSD is cheap again. The average borrowing rate across all minting markets is down to 5.6%, making it a great time to borrow crvUSD. Curve hasn't been exempt from the broader market downturn, with TVL decreasing by 2.0% to $2.00B this week. With most yields compressing across DeFi, Curve offers some of the best opportunities available. See these below, along with all the weekly metrics and winners and losers. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $17M | 6.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $43.1M | 5.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) | $34.8M | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $10.5M | 3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $18.4M | 3.3% | ### Other Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb13997f4d83ef343845d0baeb27d1173df8c224.png)BUCK![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-687/deposit) | Pool | 21.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x31bc2baa782e5180e9efa32261d2bb33ce8918bc.png)xpUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-668/deposit) | Pool | 19.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-650/deposit) | Pool | 15.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-695/deposit) | Pool | 15.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/lend/#/fraxtal/markets/one-way-market-1/vault/deposit) | Llamalend | 14.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 14.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x82957d600963ae0c529c3819ac7c349c4d49269b.png)USDnr](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-679/deposit) | Pool | 14.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-578/deposit) | Pool | 13.2% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09db87a538bd693e9d08544577d5ccfaa6373a48.png)ynETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-649/deposit) | ETH | 12.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 11.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 9.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 3.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 1.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-264/deposit) | BTC | 0.5% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-283/deposit) | CRV | 11.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfcc5c47be19d06bf83eb04298b026f81069ff65b.png)yCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-280/deposit) | CRV | 8.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 3.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.6% | ## Weekly Metrics ### crvUSD & scrvUSD The crvUSD minted supply finally started to stabilize this week, declining by only 1.2%. The big news is that the rate has been eased. Borrowing rates have been manually lowered, so they cannot spike as much as they previously could. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $19.1M | \-1.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 4.5% | \-1.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 181.7% | \-3.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9993 | \-$0.0003 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 5.6% | \-3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $0 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $700 | +$523 | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics improved across most headline metrics this week. However, collateral values are down slightly, suggesting higher average LTV ratios among borrowers. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $111M | +0.2% | | 🦙 Supplied | $66.9M | +2.5% | | 🦙 Borrowed | $57.4M | +1.5% | | 🦙 Collateral | $82.6M | \-0.4% | | 🦙 Loans | 927 | +14 | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) had a stronger week in terms of activity, even as TVL slipped 2.0%. | Metric | Value | Change | | ------------- | ----- | ------ | | 🔄 TVL | $2B | \-2.0% | | 🔄 Volume | $845M | +6.8% | | 🔄 Swaps | 431k | +10.9% | | 🔄 Total Fees | $260k | +28.4% | ### DAO DAO metrics strengthened on distributions this week, with veCRV payouts up 45.2% to $117k (3.4% APR for veCRV holders). However, CRV emissions in USD terms did decrease. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.49B | +0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 857M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 781M | \-0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $117k | +45.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $508k (2.22M CRV) | \-5.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.889% | \-0.004% | ## Top Stableswap Pools Stablecoin flow remained highest in USDS pools, while DOLA pools made the biggest ranking jump of the week, unfortunately due to the [USR hack causing a temporary depeg](https://x.com/InverseFinance/status/2035590205021782116). | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $373.7M | $3.9k | | 2 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $210.3M | $3.0k | | 3 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $171.3M | $2.0k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $124.6M | $25.3k | | 5 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $51.9M | $7.8k | | 6 | +25 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $41.5M | $16.6k | | 7 | +60 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1202f5c7b4b9e47a1a484e8b270be34dbbc75055.png)wstUSR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-568/deposit) | $40.1M | $21.6k | | 8 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $36.1M | $3.6k | | 9 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $29.3M | $3.1k | | 10 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $23.9M | $2.4k | ## Top Cryptoswap Pools Unfortunately, the RLP and USR pools were both among the top Cryptoswap pools this week due to the hack. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $17.7M | $8.9k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $15.5M | $8.5k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $7.8M | $4.4k | | 4 | +96 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4956b52ae2ff65d74ca2d61207523288e4528f96.png)RLP](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-40/deposit) | $6.7M | $6.6k | | 5 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $5.7M | $13.0k | | 6 | +52 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x66a1e37c9b0eaddca17d3662d6c05f4decf3e110.png)USR![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4956b52ae2ff65d74ca2d61207523288e4528f96.png)RLP](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-76/deposit) | $5.2M | $6.6k | ## Gauge Winners & Losers Small gauge changes this week as it's not a Convex voting week, with the biggest winner being RAAC's pmUSD/crvUSD pool. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------ | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $17M | 214k | +2.39k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | $10.2M | 19.8k | +513 | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $15.8M | 37.6k | +503 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3.png)MIM![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/mim/deposit) | $8.97M | 37k | \-173 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-681/deposit) | $137k | 0 | \-259 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x85b78aca6deae198fbf201c82daf6ca21942acc6.png)ARM-WETH-stETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-641/deposit) | $333k | 267 | \-388 | ## DEX Winners & Losers ### Fees Winners & Losers DOLA pools saw the biggest increase in fees, not from organic demand, but from the USR exploit. However, RLUSD did see an increase in organic demand. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1202f5c7b4b9e47a1a484e8b270be34dbbc75055.png)wstUSR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-568/deposit) | $40.1M | $21.6k | +$21.4k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $41.5M | $16.6k | +$15.8k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $125M | $25.3k | +$6.71k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $12.2M | $1.22k | \-$5.54k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8207c1ffc5b6804f6024322ccf34f29c3541ae26.png)OGN![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-323/deposit) | $475k | $1.57k | \-$5.57k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $5.72M | $13k | \-$6.01k | ### Volume Winners & Losers USDS pools saw the largest increase in organic volumes, while stETH saw the biggest decrease. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $374M | $3.94k | +$53.6M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $210M | $2.96k | +$42.7M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1202f5c7b4b9e47a1a484e8b270be34dbbc75055.png)wstUSR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-568/deposit) | $40.1M | $21.6k | +$39.2M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $17.3M | $1.76k | \-$28.8M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $171M | $2.02k | \-$44.7M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $12.2M | $1.22k | \-$55.4M | ### TVL Winners & Losers It's great to see Alchemix pools once again among the top gainers after their work over the past few years. Also, RAAC's pmUSD/iREET pool will be interesting to observe in the coming weeks, as it is one of Curve's new FXSwap pools, which also power newer FX pools like ZCHF/crvUSD and all YieldBasis pools. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe6a60d2886b11256c24c128210159133096e5ccf.png)iREET](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-349/deposit) | $7.11M | +$4.46M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-662/deposit) | $4.07M | +$2.41M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | $9.35M | +$2.11M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $88.5M | \-$4.88M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $43.1M | \-$6.54M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1202f5c7b4b9e47a1a484e8b270be34dbbc75055.png)wstUSR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-568/deposit) | $5.8k | \-$15.2M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers crvUSD minting markets were very quiet overall. WBTC, WETH, and wstETH posted the only meaningful increases, while tBTC saw the largest reduction in borrowed crvUSD. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $22.3M | $10.3M | +$8k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $3.09M | $1.65M | +$2.92k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $1.2M | $803k | +$1.1k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $1.34M | $791k | \-$49k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $3.03M | $1.96M | \-$92.2k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $5.18M | $3.37M | \-$114k | ### Lend Markets - Borrowing Winners & Losers A very positive week for lend markets, with few borrowers reducing positions. The third-largest decline was only $1.63k in loans. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $10.5M | $7.91M | +$642k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $39.2M | $19.6M | +$292k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $3.1M | $1.37M | +$104k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x95f19b19aff698169a1a0bbc28a2e47b14cb9a86.png)ycvxCRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-35/vault/deposit) | $6.99k | $4.56k | \-$1.63k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $1.05M | $745k | \-$20.2k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $2.95M | $2.31M | \-$123k | ### Lend Markets - Supplying Winners & Losers Supplied balances continued to concentrate in sreUSD and sfrxUSD markets, while sUSDe, sDOLA, and the WBTC market saw the largest liquidity reductions. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $39.2M | $19.6M | +$2.22M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $10.5M | $7.91M | +$1.2M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.34M | $3.32M | +$33.8k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $2.95M | $2.31M | \-$236k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $1.14M | $58.5k | \-$551k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $3.1M | $1.37M | \-$730k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### FXSwap Simulations: Behind the Scenes URL: https://news.curve.finance/fxswap-simulations/ Last updated: 2026-03-30T16:48:20.000Z Deploying an FXSwap pool is not a matter of picking default parameters and hoping for the best. Behind every pool launch is a rigorous simulation pipeline that evaluates millions of parameter combinations against years of historical price data. Curve developer [Michael K](https://x.com/heswithme%5Feth) recently sat down with [Gerrit](https://x.com/CurveCap) to walk through how this process works, what the simulations optimize for, and why it matters for asset issuers considering on-chain FX liquidity. This article summarizes the key takeaways from that conversation. The full video is available on YouTube. For background on FXSwap itself, see the [previous article on FXSwap](https://news.curve.finance/fxswap/) and the [FXSwap documentation](https://docs.curve.finance/protocol/pool/understanding-fxswap). --- ## What Is FXSwap, Briefly FXSwap pools are built on top of Curve's cryptoswap-style design, the same type of pools that powers YieldBasis. Each pool maintains an internal “center of liquidity” called `price_scale`, which tracks a smoothed internal oracle derived from recent market activity. In practice, this oracle should remain aligned with external market prices for the paired assets. When tracking is good, the pool **concentrates liquidity near the current market price and traders get tight execution**. When tracking lags, the pool drifts into imbalance and execution degrades, a condition sometimes described as the pool becoming “stuck,” where liquidity is no longer concentrated near the true market price. The key innovation is a mechanism called **refueling** (also referred to as donations): an **external budget that subsidizes the cost of recentering liquidity when prices move**. This allows the pool to keep depth near the current price **without requiring LPs to actively manage positions**. Presentation from Michael K. about how FXSwap works (StableSummit 2026) --- ## Why Simulate? FXSwap pools have at least a dozen tunable parameters: the amplification factor (`A`), refuel rate (boost rate), `mid_fee`, `out_fee`, `fee_gamma`, oracle smoothing time, and more. Each of these affects how the pool tracks external prices, how much slippage traders experience, and whether the pool remains balanced or drifts. Getting these wrong is costly. As noted during the discussion (\~21:06): > “You don't want to deploy millions of dollars on-chain and realize after a couple of months that your pool behaves poorly just because you didn't correctly estimate the volatility profile of the asset.” The simulation pipeline exists to prevent exactly that. --- ## How the Backtesting Works The simulator takes historical price data, typically minute-by-minute candlestick data spanning multiple years—described in the discussion as “gigabytes of candlesticks”—and replays it against a simulated pool. At each step, it checks whether an arbitrageur would find it profitable to trade the pool back toward the external price, accounting for CEX liquidity depth and possible fees. When profitable, the simulator executes the trade and updates the pool state. This produces a complete timeline of how the pool would have behaved historically under a given set of parameters, tracking metrics such as: - **APY** and **net APY** (after subtracting donations) - **Virtual price / invariant** growth - **TVL** growth - **Swap volume** and number of trades - **Average pool fee** - **Price divergence** between the pool's internal `price_scale` and the external price - **Pool imbalance** over time A critical point: the simulator only models arbitrage flow. Arbitrage-only flow is typically the most challenging environment for LP profitability, so this represents a worst-case analysis. Organic retail and institutional flow, which brings fees without the same extractive dynamics, is additional upside not captured in the simulation. --- ## The Parameter Grid Evaluating a single parameter configuration is relatively fast. The challenge is that FXSwap has many interacting parameters, and the optimal values for one depend on the others. The simulator runs a multi-dimensional grid search, varying parameters such as `A`, refuel rate, fee settings, and oracle smoothing simultaneously. A typical high-resolution run across five or six dimensions requires evaluating millions of individual pool configurations. This is where a parallel compute cluster comes in. The entire simulation engine was rewritten from Vyper into C++. As explained in the presentation (\~39:34), this makes it roughly two orders of magnitude faster than running the equivalent logic on a local EVM emulation. A full-scale grid run takes about \~10 minutes on the cluster. The C++ simulator is open source on GitHub, and anyone can download it and run their own simulations. A two-dimensional grid or low-resolution search is feasible on a laptop in about 10 minutes. A full cloud compute run costs under $10, though it took many iterations to arrive at the right configurations. [GitHub - curvefi/cryptopool-simulator: Similator for cryptopools written in C++Similator for cryptopools written in C++. Contribute to curvefi/cryptopool-simulator development by creating an account on GitHub.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/pinned-octocat-093da3e6fa40-6.svg)GitHubcurvefi![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/cryptopool-simulator)](https://github.com/curvefi/cryptopool-simulator) --- ## Reading the Heat Maps The output of these simulations are multi-panel heat maps, each showing how a particular metric varies across two chosen parameters. Each heat map represents a two-dimensional slice of a higher-dimensional parameter grid. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/03/image--1-.png) A typical analysis for a forex pair like CHF/USD includes panels for: - **Imbalance** – Does the pool stay balanced, or does one side drain? - **Price divergence** – Does the pool’s price scale track the external price? - **Real slippage** – What does a 5% TVL swap actually cost, including both curve slippage and fees? - **APY and net APY** – Is the pool profitable before and after accounting for donations? - **Average pool fee** – What fee does the typical trader actually pay? Red regions typically represent more favorable outcomes for that specific metric, but the goal is not to optimize a single metric in isolation. Instead, you are looking for overlap: a region in parameter space where tracking, imbalance, slippage, and profitability are all acceptable at the same time. --- ## The Role of Refuels (Donations) The donation (refueling) mechanism is one of the most important parameters. When the pool's internal `price_scale` drifts from the external market price, it needs to recenter its liquidity. Recentering is not free: the pool effectively realizes a loss each time liquidity is shifted to a new concentration point, similar to actively repositioning a Uniswap v3 liquidity range. This cost is funded partly by accumulated trading fees and partly by external donations. Donations do not set the price directly. They subsidize the pool’s ability to recenter liquidity so that execution stays tight around the reference price. This effect was demonstrated during the discussion (\~15:04): - **0% donation:** The pool detaches from the external price, becomes imbalanced, and slippage worsens. - **\~2% donation (of TVL per year):** Imbalance improves drastically. For a $1M pool, this is roughly $20,000 per year. - **\~4% donation:** The pool tracks the external price closely and performs optimally. Higher donations also unlock the ability to safely raise the amplification factor `**A**`. A higher `A` moves the curve closer to constant-sum behavior (1:1 exchange), which gives traders better slippage. But a high `A` on an under-funded pool leads to rapid imbalance. The simulations reveal how much donation is needed to sustain a given `A` value. For asset issuers, this math can be compelling. Many yield-bearing stablecoins earn 5–14% from underlying treasuries or government bonds. Directing a small portion of that yield (2–4%) toward pool donations creates an on-chain liquidity venue with very competitive slippage. For some issuers, this can be cheaper and more sustainable than competing primarily through emissions or token incentives, though the economics will depend on the specific asset and the volume the pool attracts. --- ## Fee Structure: `mid_fee`, `out_fee`, and `fee_gamma` FXSwap pools use a dynamic fee structure that scales with pool imbalance: - **`mid_fee`** – charged when the pool is balanced. For forex pairs, this can be as low as 2.5 basis points. - **`out_fee`** – charged when the pool is significantly imbalanced. This acts as an elevated fee on arbitrage when the pool is off-center, helping it earn its way back to balance. - `**fee_gamma**` – controls how quickly the fee transitions from `mid_fee` to `out_fee` as the pool moves away from balance. The simulations optimize these parameters together. In the discussion (\~33:01), a pool configuration with **`mid_fee = 2.5 bps`**, **`out_fee = 25 bps`**, combined with **`A = 60`** and sufficient donations, produced an average realized fee of roughly **5 basis points** across the historical period—highly competitive for forex trading. The `out_fee` serves a specific purpose. When the pool is off balance, arbitrageurs are typically the dominant traders and their flow is extractive. Charging a higher `out_fee` helps the pool earn its way back toward balance. However, if `out_fee` is set too high, arbitrage becomes unprofitable and the pool may remain stuck. The simulation identifies the balance point between these two failure modes. --- ## Oracle Smoothing The pool’s internal oracle uses an exponential moving average (EMA) to smooth price updates. The optimal smoothing time depends on the asset’s volatility profile. - **Forex pairs (low volatility):** Simulations suggest longer smoothing windows can be beneficial, preventing the pool from reacting too aggressively to short-term noise. - **Crypto pairs (high volatility):** Shorter smoothing windows are necessary so the oracle stays accurate and the pool can recenter quickly. This is another dimension the simulator optimizes, and results show that oracle tuning can meaningfully affect TVL growth, profitability, and price tracking accuracy. --- ## Case Study: The Frankencoin Pool The ZCHF/crvUSD pool serves as a live case study of this simulation-driven approach. ### What was deployed The pool launched with conservative parameters, with `A` around 30 and a refuel rate of 5%, providing a wide safety margin. As explained during the discussion (\~28:11), the simulator was not yet in its current state at launch, so conservative parameters were intentionally chosen. ### What the new vote proposes Based on updated simulation results, a [DAO governance vote](https://www.curve.finance/dao/ethereum/proposals/1345-ownership) proposed ramping `A` to **60** and adjusting fees from roughly **10/20 bps (`mid_fee`/`out_fee`)** to **2.5/25 bps**. Backtesting suggests these settings maintain strong price tracking while offering significantly better slippage. ### Early signs The pool has attracted real organic volume. During the discussion (\~26:02), early usage was observed from both retail users swapping smaller amounts of Swiss francs and larger entities executing meaningful volume across multiple days. The pool is still relatively small, and the key question is whether organic trading flow eventually covers the donation cost. --- ## Limitations It is worth being explicit about what the simulations can and cannot tell you: - The backtest assumes an external reference market with modeled liquidity depth and assumed arbitrage costs. If real-world market depth differs, results may vary. - Only arbitrage flow is modeled in the simulator. Organic volume is additional upside but inherently uncertain for new pools. - Historical volatility is not a guarantee of future volatility. - Parameter optimization reduces risk but does not eliminate it. Choosing pool parameters remains a risk-management decision rather than proof of future performance. --- ## Dynamic Fees: What’s Next The current `mid_fee` / `out_fee` system is only a first step. Curve researchers are exploring more sophisticated dynamic fee mechanisms, including **directional fees** that distinguish between trades that help rebalance the pool and trades that destabilize it. The discussion also highlighted (\~34:42) that research on dynamic fee design has been an active focus recently and is likely to remain an important development area going forward. This work, alongside analytical modeling using stochastic differential equations, represents the next frontier for FXSwap optimization. --- ## For Asset Issuers If you are considering deploying an FXSwap pool for a forex pair or any volatile asset, the simulation infrastructure exists to provide optimized parameters backed by years of historical data. The simulator is open source if you want to run it yourself, but the Curve team can also run full-scale backtesting for new asset pairs. As stated during the discussion (\~44:19): > “If you consider deploying an FX swap pool on mainnet and you want to load some liquidity there, just contact Curve people and you will get the backtesting simulations quickly.” ### Curve Best Yields & Key Metrics | Week 12, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-12-2026/ Last updated: 2026-03-19T12:19:35.000Z ## Market Overview Overall a good week for Curve: - TVL increased to $2.04B, , up 0.6% - crvUSD borrowing rates fell back to single digits, sitting at 8.7% - a new [crvUSD PegKeeper was created](https://www.curve.finance/dao/ethereum/proposals/1358-ownership) for Aave's GHO stablecoin - A new [proposal to make crvUSD borrowing cheaper](https://www.curve.finance/dao/ethereum/proposals/1364-ownership) is being voted on As always, see all the highlighted opportunities and weekly metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $18.5M | 10.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) | $35.8M | 6.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $49.7M | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $18M | 4.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $21.3M | 3.7% | ### Other Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x31bc2baa782e5180e9efa32261d2bb33ce8918bc.png)xpUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-668/deposit) | Pool | 30.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-664/deposit) | Pool | 27.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 19.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-650/deposit) | Pool | 19.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-695/deposit) | Pool | 17.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x82957d600963ae0c529c3819ac7c349c4d49269b.png)USDnr](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-679/deposit) | Pool | 15.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/lend/#/fraxtal/markets/one-way-market-1/vault/deposit) | Llamalend | 15.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 13.3% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09db87a538bd693e9d08544577d5ccfaa6373a48.png)ynETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-649/deposit) | ETH | 12.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-303/deposit) | ETH | 5.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-36/deposit) | ETH | 4.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 1.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://curve.finance/dex/#/optimism/pools/factory-v2-63/deposit) | BTC | 0.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x972966bcc17f7d818de4f27dc146ef539c231bdf.png)DBIT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-581/deposit) | BTC | 0.7% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-283/deposit) | CRV | 11.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 10.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 6.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-2/deposit) | TRICRYPTO | 2.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.6% | ## Weekly Metrics ### crvUSD & scrvUSD While the minted supply dropped, the crvUSD metrics did otherwise materially improve this week. PegKeepers were activated as the peg went over $1.0000 momentarily, this caused borrowing rates to fall 3.9% to single digits, and PegKeepers turned a small profit again as they sold high and bought low. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $19.4M | \-14.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 6.2% | +1.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 184.7% | +30.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9996 | +$0.0002 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 8.7% | \-3.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $0 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $176 | +$176 | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) was mixed but constructive this week. TVL slipped 1.9%, yet supplied and borrowed balances both grew, with borrowed up 9.0% and supplied up 6.0%. Loan count fell by 15, suggesting activity consolidated into fewer, larger positions. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $111M | \-1.9% | | 🦙 Supplied | $65.3M | +6.0% | | 🦙 Borrowed | $56.5M | +9.0% | | 🦙 Collateral | $83M | +2.5% | | 🦙 Loans | 913 | \-15 | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) was steadier this week, with TVL, volume, and fees all inching higher while swap count fell. That points to somewhat larger average trade sizes, especially in core stablecoin and stETH routes. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.04B | +0.6% | | 🔄 Volume | $791M | +1.5% | | 🔄 Swaps | 388k | \-9.4% | | 🔄 Total Fees | $202k | +1.1% | ### DAO DAO metrics were broadly flat this week. veCRV distribution ticked up to $80k, while total veCRV, emissions, and inflation all edged slightly lower or held steady. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.49B | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 857M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 784M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $80.5k | +1.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $535k (2.22M CRV) | \-0.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.894% | \-0.005% | ## Top Stableswap Pools Stablecoin activity remained led by USDS pools, however the USDC/USDT high concentration pool took second spot. Neutrl's NUSD was the largest gainer, jumping 17 spots to 8th in terms of volume. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $320.2M | $3.4k | | 2 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $216.1M | $3.2k | | 3 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $167.6M | $2.5k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $91.3M | $18.6k | | 5 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $67.7M | $6.8k | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $58.3M | $8.7k | | 7 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $50.3M | $5.0k | | 8 | +17 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $46.1M | $4.7k | | 9 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $37.9M | $3.8k | | 10 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $26.6M | $2.7k | ## Top Cryptoswap Pools Cryptoswap rankings were very stable this week, with the four core Tricrypto pools holding the top slots. The main mover was the EURe/WXDAI/USDC/USDT forex pool on Gnosis, which jumped into the top six. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $15.8M | $9.9k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $14.0M | $9.0k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $9.6M | $5.9k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $8.3M | $19.0k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://curve.finance/dex/#/base/pools/factory-crypto-1/deposit) | $3.1M | $1.1k | | 6 | +18 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | $2.9M | $1.0k | ## Gauge Winners & Losers Being a Convex voting week the gauges had a large rotation. RAAC's pmUSD/frxUSD pool was the winner of increases, jumping increasing their CRV emissions to 271k, over 12% of the weekly 2.22M on offer. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | $17.5M | 271k | +150k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-283/deposit) | $6.41M | 118k | +29.8k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-35/deposit) | $74.8M | 116k | +23.6k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $10M | 45.1k | \-24.4k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $56.9M | 19.6k | \-62.1k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $14.2M | 37.1k | \-74.1k | ## DEX Winners & Losers ### Fees Winners & Losers Fee growth across the top 3 winning pools was a hot contest, with less than 25% separating the first and third. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $46.1M | $4.73k | +$3.98k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $67.7M | $6.77k | +$3.46k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8207c1ffc5b6804f6024322ccf34f29c3541ae26.png)OGN![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-323/deposit) | $1.86M | $7.13k | +$3.09k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $10.2M | $2.2k | \-$3.06k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $1.81M | $6.81k | \-$3.23k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-274/deposit) | $1.25M | $499 | \-$3.53k | ### Volume Winners & Losers Neutri also won the volume for the week with their NUSD stablecoin, increasing their volume by over $38M, while USDS pools notably cooled off. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $46.1M | $4.73k | +$38.7M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $67.7M | $6.77k | +$34.6M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $58.3M | $8.74k | +$16.6M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $10.2M | $2.2k | \-$14.1M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $320M | $3.36k | \-$54.9M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $168M | $2.48k | \-$94.1M | ### TVL Winners & Losers Ripple's RLUSD was a top performer, jumping 10.9M in TVL for the week, stETH was came in second, largely due to ETH's price appreciation. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $92.6M | +$10.9M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $93.4M | +$4.79M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $56.9M | +$3.08M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | $1.09M | \-$3.08M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-252/deposit) | $176M | \-$4.24M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $67.4M | \-$4.67M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers crvUSD minting activity was continues it's contraction, as borrowing rates were very high, however this should be largely over now that rates are an average of 8.7% and a [Llamarisk proposal to reduce rates](https://www.curve.finance/dao/ethereum/proposals/1364-ownership) looks likely of passing. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $5.38M | $3.48M | +$549k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $3.23M | $1.65M | +$3.86k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $1.49M | $840k | +$1.96k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $2.94 | $1.02 | +$0.0027 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $3.3M | $2.05M | \-$75.4k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $22.5M | $10.3M | \-$3.66M | ### Lend Markets - Borrowing Winners & Losers Borrow demand concentrated heavily in sreUSD and sfrxUSD markets this week, with both posting multi-million dollar increases. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $37M | $19.3M | +$4.36M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $9.34M | $7.26M | +$3.53M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $1.04M | $727k | +$67.2k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09db87a538bd693e9d08544577d5ccfaa6373a48.png)ynETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-23/vault/deposit) | $24.5k | $8.97k | \-$2.25k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-9/vault/deposit) | $479k | $224k | \-$44.1k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.19M | $2.43M | \-$89.5k | ### Lend Markets - Supplying Winners & Losers Supplied balances also moved toward sreUSD and sfrxUSD, while fxSAVE, WBTC, and especially sDOLA continued to lose liquidity. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $37M | $19.3M | +$4.35M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $9.34M | $7.26M | +$2.14M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $3.83M | $1.26M | +$340k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.19M | $2.43M | \-$185k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $345k | $169k | \-$676k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $1.69M | $56.1 | \-$2.43M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### FastBridge: Bringing Fast L2 Withdrawals to crvUSD URL: https://news.curve.finance/fastbridge-bringing-fast-l2-withdrawals-to-crvusd/ Last updated: 2026-03-16T15:33:13.000Z One of the main challenges for multichain crvUSD is that itcan trade at different priceson L2 networks compared to Ethereum. And with native L2 bridges, moving crvUSD back to mainnet normally requires waiting through the seven-day withdrawal periods. That slows arbitrage, ties up capital in transit, resulting in markets on L2s that can drift away from the rest of the ecosystem. This creates a difficult environment for products like Llamalend, which often rely on a stable crvUSD peg and deep liquidity. When peg stability suffers on L2s, borrowing demand can fall and liquidity can become fragmented. **FastBridge addresses this** by giving crvUSD a fast, reliable, and secure path from L2s back to Ethereum. Leveraging cross-chain messaging through LayerZero together with canonical bridge settlements, it enables capital to move quickly while remaining anchored to the underlying bridge infrastructure. By removing the slow bridge bottleneck, arbitrageurs can now respond faster to price dislocations across chains, helping crvUSD trade closer to parity across the ecosystem. ## Why FastBridge Matters For users, the benefit is immediate and tangible: crvUSD can move from Arbitrum, Optimism, or Fraxtal to Ethereum very quickly (\~15 minutes) instead of waiting a full week. Capital is no longer trapped in transit, and traders can react to opportunities much faster rather than watching them disappear behind a bridge delay. For crvUSD itself, this is even more important, asstablecoins only work if it maintains roughly the same value everywhere. When L2 prices drift away from mainnet, no amount of incentives or pool engineering can fully solve the problem. What *does* solve it is fast arbitrage. FastBridge enables arbitrageurs to correct price imbalances the moment they appear. When crvUSD becomes cheaper on an L2, traders can quickly move it back to Ethereum and capture the difference. These trades naturally push prices back toward parity. The result is a stronger peg, healthier Llamalend markets, and a more robust cross-chain ecosystem. ## How FastBridge Works The core idea behind FastBridge is straightforward. When a user bridges crvUSD from supported L2s to Ethereum, two processes start simultaneously: 1. The user's crvUSD enters the standard native L2-to-Ethereum bridge flow, which still settles through the canonical bridge after the usual withdrawal period. 2. A LayerZero cross-chain message is sent to Ethereum confirming that a valid bridge transaction has been initiated. Once that message is received, an Ethereum-side vault releases pre-minted crvUSD to the recipient before the canonical bridge withdrawal has finalized. This advancedmint is economically backed by the pending native bridge transfer. Once the native bridge finalizes about seven days later, the bridged crvUSD arrive and replenishthe vault. The result for users is near-instant access to crvUSD on Ethereum,while the system still relies on the secure canonical bridge infrastructure underneath. ## Using FastBridge Users can bridge crvUSD from supported L2 networks to Ethereum through the FastBridge interface. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/03/Screenshot-2026-03-16-at-16.00.28.png) Simply connect your wallet on Arbitrum, Optimism, or Fraxtal, select the amount of crvUSD to bridge, and initiate the transfer. Most transfers arrive on Ethereum within roughly **15 minutes**, rather than waiting through the standard seven-day withdrawal period. Access the FastBridge interface here: [Curve.financeCurve-frontend is a user interface application designed to connect to Curve’s deployment of smart contracts.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/apple-touch-icon-8.png)![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/logo-7.png)](https://www.curve.finance/bridge/ethereum) ## Risk Management and Safety FastBridge includes several protective mechanisms to ensure the system remains safe even under heavy usage or unexpected conditions. - **Debt Ceilings:** Each vault has a maximum amount of crvUSD that can be temporarily pre-minted. This ensures total exposure remains bounded. - **Daily Bridge Limits:** Each L2 network enforces a maximum amount of crvUSD that can be bridged within a 24-hour period. This prevents sudden spikes in usage from overwhelming the system. Users can check the currently available amount using the `allowed_to_bridge()` function on the FastBridgeL2 contract. - **Minimum Bridge Amounts:** Very small transactions are blocked to prevent gas-inefficient bridge claims on Ethereum. - **Emergency Controls:** Curve's Emergency DAO can instantly freeze all new mints through a kill switch if necessary. Individual minters can also be disabled independently. - **Token Recovery:** In the unlikely case of malfunction, an administrative recovery function allows retrieval of stuck tokens. ## Conclusion FastBridge is more than a tool for faster withdrawals. It is the missing infrastructure that allows crvUSD to function as a unified cross-chain stablecoin — consistent in value, easy to move, and efficient to trade. By combining LayerZero messaging with canonical bridge settlement, FastBridge gives users fast access to their funds while enabling arbitrageurs to maintain the peg across networks. This strengthens the entire crvUSD ecosystem. With improved peg stability, healthier lending markets, and new opportunities for cross-chain integrations, FastBridge marks an important step toward making crvUSD one of the most reliable and useful stablecoins across Ethereum and its Layer 2 networks. For full technical details, contract addresses, and deployment information, see the FastBridge documentation: [FastBridge Overview | Curve Knowledge HubFastBridge is a workaround solution for the 7-day delay from L2 native bridges by pre-minting crvUSD. This system enables fast cross-chain transfers of crvUSD from Layer 2 networks (Arbitrum, Optimism, Fraxtal) to Ethereum mainnet.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/favicon.png)Curve Logo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/architecture-0d907424b021033b0e5d60551f8e81f1.png)](https://docs.curve.finance/developer/fast-bridge/overview) --- ### Curve Best Yields & Key Metrics | Week 11, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-11-2026/ Last updated: 2026-03-12T12:58:00.000Z ## Market Overview Curve TVL eased 2.1% this week to **$2.03B**, with trading activity also cooling from last week's stronger burst. Even so, crvUSD held close to peg at **$0.9995**, and scrvUSD continued to offer **5.0%**. The main news of the week is that there is a new proposal for a [GHO PegKeeper being voted on](https://www.curve.finance/dao/ethereum/proposals/1358-ownership) currently. Also, there are new visualizations in the docs — visualize and explore the [Fee Architecture](https://docs.curve.finance/fee-architecture), and [CRV emissions](https://docs.curve.finance/emissions), with more coming soon. As always, there are some great yields available on Curve. See all the highlighted yields and weekly metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $17.8M | 23.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $51.3M | 6.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) | $34.8M | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $12.9M | 3.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $17.7M | 3.4% | ### Other Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/avalanche.png "Avalanche") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-avalanche/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-avalanche/0x9ee1963f05553ef838604dd39403be21cef26aa4.png)USDp](https://curve.finance/dex/#/avalanche/pools/factory-stable-ng-30/deposit) | Pool | 31.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09fd37d9aa613789c517e76df1c53aece2b60df4.png)ebUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-487/deposit) | Pool | 30.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x31bc2baa782e5180e9efa32261d2bb33ce8918bc.png)xpUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-668/deposit) | Pool | 28.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/lend/#/fraxtal/markets/one-way-market-0/vault/deposit) | Llamalend | 26.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-650/deposit) | Pool | 26.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | Pool | 23.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | Pool | 23.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-578/deposit) | Pool | 19.6% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* *Note: alETH is currently about 5% off-peg and wasn't included on the banner, but is included here as it has been gradually returning to peg since 2023.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 36.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 9.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-303/deposit) | ETH | 7.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 1.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 1.1% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 10.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfcc5c47be19d06bf83eb04298b026f81069ff65b.png)yCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-280/deposit) | CRV | 9.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 3.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 1.3% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD supply continues it's mild contraction, with the minted supply and scrvUSD yield both declining. PegKeeper reserves were also reduced, but positively the peg stayed very close to the target $1.0000 target. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $22.6M | \-1.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 5.0% | \-3.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 154.2% | +14.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9994 | \-$0.0006 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 12.6% | +1.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $0M | \-$6.42M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $0 | \- | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) contracted overall this week, with TVL, supplied balances, collateral, and loan count all lower. The main offset was a 2.6% increase in borrowed balances, suggesting some users are borrowing more with lower amounts of collateral. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $113M | \-4.4% | | 🦙 Supplied | $61.6M | \-3.9% | | 🦙 Borrowed | $51.8M | +2.6% | | 🦙 Collateral | $80.9M | \-1.4% | | 🦙 Loans | 928 | \-13 | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) cooled this week, with TVL, volume, swaps, and fees all moving lower from last week's elevated base. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.03B | \-2.1% | | 🔄 Volume | $779M | \-32.0% | | 🔄 Swaps | 429k | \-9.2% | | 🔄 Total Fees | $200k | \-25.2% | ### DAO DAO metrics softened this week, with lower veCRV distributions and slightly lower locked balances across the board. CRV emissions were also down modestly in USD terms, reflecting the slight downturn in CRV price. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.49B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 857M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 785M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $79.1k | \-28.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $538k (2.22M CRV) | \-2.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.898% | \-0.005% | ## Top Stableswap Pools Stablecoin flow remained concentrated in PYUSD/USDS and sUSDS/USDT this week, while Ripple's RLUSD and GlobalDollar's USDG climbed rapidly up the rankings on renewed demand. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $375.1M | $3.9k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $261.6M | $3.0k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $200.0M | $2.1k | | 4 | +6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $83.6M | $17.1k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $48.0M | $4.8k | | 6 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $41.7M | $6.2k | | 7 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $33.1M | $3.3k | | 8 | +43 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $29.8M | $3.1k | | 9 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $28.6M | $2.9k | | 10 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $27.9M | $2.9k | ## Top Cryptoswap Pools Core Tricrypto markets continued to dominate Cryptoswap activity, with only minor reshuffling in the leaderboard and WETH/CVX jumping four spots into the top six. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $16.4M | $9.0k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $14.0M | $8.2k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $9.9M | $5.3k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $9.3M | $16.3k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://curve.finance/dex/#/base/pools/factory-crypto-1/deposit) | $2.5M | $774.9 | | 6 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $2.5M | $10.0k | ## Gauge Winners & Losers Gauge vote changes were relatively small this week, as it's the usual off-week set by the Convex's fortnightly gauge votes. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------ | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x85b78aca6deae198fbf201c82daf6ca21942acc6.png)ARM-WETH-stETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-641/deposit) | $421k | 2.35k | +347 | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-681/deposit) | $220k | 3.22k | +261 | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xdbfefd2e8460a6ee4955a68582f85708baea60a3.png)superOETHb](https://curve.finance/dex/#/base/pools/factory-stable-ng-143/deposit) | $31.2M | 508 | +214 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x73968b9a57c6e53d41345fd57a6e6ae27d6cdb2f.png)SDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x830614ae209ff9d8706d386fcdbc7a55206fcffc.png)cvgSDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-81/deposit) | $84.1k | 320 | \-295 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-518/deposit) | $1.17M | 8.77k | \-319 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c9815826fdf8c7a45ccfed2064dbab33a078712.png)CVX1![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2191df768ad71140f9f3e96c1e4407a4aa31d082.png)cvgCVX](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-186/deposit) | $72.4k | 1.99k | \-793 | ## DEX Winners & Losers ### Fees Winners & Losers Fee growth was led by RLUSD and volatility-linked pools such as WETH/CVX and stETH/frxETH. On the downside, 3pool, Tricrypto-1, and USDS/stUSDS gave back a large share of last week's fee spike. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $83.6M | $17.1k | +$10.4k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $2.54M | $10k | +$5.51k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-274/deposit) | $10.1M | $4.03k | +$3.64k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-628/deposit) | $913k | $958 | \-$7.58k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $9.3M | $16.3k | \-$10.4k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $41.7M | $6.25k | \-$11.2k | ### Volume Winners & Losers Volume rotated toward RLUSD and USDG this week, while the largest stablecoin venues cooled sharply from the prior period. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $83.6M | $17.1k | +$50.4M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $29.8M | $3.09k | +$27.4M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-274/deposit) | $10.1M | $4.03k | +$9.11M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $41.7M | $6.25k | \-$74.5M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $200M | $2.14k | \-$111M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $262M | $3.03k | \-$205M | ### TVL Winners & Losers Fresh liquidity favored DOLA/sUSDe and pmUSD/frxUSD this week, while several crvUSD-adjacent pools gave back capital after last week's reallocation. PYUSD/crvUSD saw the largest outflow, down $16.6M. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $72.1M | +$6.46M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | $16.6M | +$2.96M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://curve.finance/dex/#/base/pools/factory-crypto-1/deposit) | $18.9M | +$2.94M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $22.1M | \-$5.58M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xdbfefd2e8460a6ee4955a68582f85708baea60a3.png)superOETHb](https://curve.finance/dex/#/base/pools/factory-stable-ng-143/deposit) | $31.2M | \-$14M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $51.3M | \-$16.6M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers crvUSD minting markets were relatively quiet this week. WBTC collateral held up best, while WETH and tBTC saw the largest borrowing paydowns, pointing to a cautious tone in leveraged long demand. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $29.4M | $13.9M | +$82.8k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $1.22M | $800k | +$1.28k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $297k | $143k | \- | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $1.41M | $838k | \-$19.2k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $4.91M | $2.93M | \-$115k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $3.29M | $2.12M | \-$224k | ### Lend Markets - Borrowing Winners & Losers Borrow demand within [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) rotated back toward sfrxUSD and sreUSD markets, which led gains by a clear margin. Most other markets were little changed, with only modest outflows in WBTC, fxSAVE, and wstETH. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $7.2M | $3.74M | +$801k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $32.6M | $14.9M | +$674k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $1.18M | $734k | +$212k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.37M | $2.52M | \-$20.1k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $1.02M | $169k | \-$33.3k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $972k | $660k | \-$51.6k | ### Lend Markets - Supplying Winners & Losers Supplied balances shifted strongly into sfrxUSD and sUSDe, while the sDOLA market continued to unwind after the recent exploit as suppliers rotate to other opportunities and accounted for by far the largest supply reduction this week. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $7.2M | $3.74M | +$3.44M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $3.49M | $1.26M | +$1.77M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $1.02M | $169k | +$732k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx](https://curve.finance/lend/#/ethereum/markets/one-way-market-29/vault/deposit) | $57k | $800 | \-$32.1k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/lend/#/fraxtal/markets/one-way-market-0/vault/deposit) | $274k | $217k | \-$87.9k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $4.12M | $55.9 | \-$9.35M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Monthly Recap February, 2026 URL: https://news.curve.finance/curve-monthly-recap-february-2026/ Last updated: 2026-03-06T13:09:04.000Z ### Key Highlights of February - Severe market volatility triggered coordinated **crvUSD peg defense actions** - **scrvUSD revenue share increased to 80%** and monetary policy eased - **Emergency DAO authorized** with 400K crvUSD treasury buffer - **CRV + YB rewards added to PegKeeper pools** - **YieldBasis scaling roadmap** published by Michael Egorov - **Stable Summit IV announced in Cannes** - **Curve recognized in Aragon’s Ownership Token Framework** - **New LlamaLend oracle implementations** for fxSAVE and sreUSD markets - Curve **daily active users reached an all-time high (4,900)** ## Market Volatility and crvUSD Peg Defense February’s defining event was a period of severe market stress. Sharp BTC and ETH movements triggered rapid deleveraging across DeFi, putting sustained pressure on Curve lending markets and the crvUSD peg. LlamaRisk coordinated a series of response actions with Swiss Stake and the DAO: - **scrvUSD revenue share increased** from 50% to 80% to strengthen crvUSD demand ([Vote 1340](https://www.curve.finance/dao/ethereum/proposals/1340-ownership)) - **Monetary policy eased** by increasing sigma from **0.007 → 0.019**, making crvUSD borrow rates less sensitive to price fluctuations ([Vote 1342](https://www.curve.finance/dao/ethereum/proposals/1342-ownership)) - **Emergency DAO authorized** to draw **400K crvUSD** from the treasury for potential peg defense ([Vote 1344](https://www.curve.finance/dao/ethereum/proposals/1344-ownership)) - **Emergency role added** to Twocrypto pools, allowing the eDAO to soft-pause YieldBasis pools if necessary ([Vote 1343](https://www.curve.finance/dao/ethereum/proposals/1343-ownership)) - Mint rates were reduced to limit repayment pressure - Escalation paths were defined for additional intervention if required > Recent market conditions have been unusually severe. Sharp BTC and ETH moves triggered rapid deleveraging across DeFi, translating into sustained pressure on [@CurveFinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw) lending markets—particularly mint rates and the [$crvUSD](https://twitter.com/search?q=%24crvUSD&src=ctag&ref%5Fsrc=twsrc%5Etfw) peg. > > These dynamics are not unexpected in the… [pic.twitter.com/KgJ0f2ibGo](https://t.co/KgJ0f2ibGo) > > — LlamaRisk (@LlamaRisk) [February 9, 2026](https://twitter.com/LlamaRisk/status/2020881121588711862?ref%5Fsrc=twsrc%5Etfw) All stabilization mechanisms continued to function as designed, demonstrating the resilience of Curve’s layered peg defense system under real market stress. > Another important "tweak in prod" vote - making crvUSD borrow rate LESS dependent on crvUSD price (e.g. less steep dependency) [pic.twitter.com/aJl8V4UDgh](https://t.co/aJl8V4UDgh) > > — Curve Finance (@CurveFinance) [February 5, 2026](https://twitter.com/CurveFinance/status/2019521255901454366?ref%5Fsrc=twsrc%5Etfw) ## Scaling crvUSD Alongside YieldBasis Michael Egorov published a roadmap outlining how **crvUSD can scale to tens of billions in supply while supporting the growth of YieldBasis**. YieldBasis — Curve’s BTC liquidity protocol designed to eliminate impermanent loss — already holds the largest BTC liquidity pool on-chain at **$220M TVL**. As the protocol grows, however, its interaction with crvUSD liquidity becomes increasingly important. Expanding YieldBasis without destabilizing the crvUSD peg requires mechanisms that balance liquidity growth with stablecoin demand. The proposal outlines several strategies designed to support **simultaneous scaling of both systems**. ### HybridVault A new vault architecture that allows deposits beyond existing pool caps while requiring **crvUSD collateral in approved vaults**. This creates additional demand for crvUSD while allowing YieldBasis liquidity to expand. Users do not need equal BTC-to-crvUSD ratios and can earn yield on both assets simultaneously. The design is reportedly close to deployment. ### Volatility Tax During downward pool imbalances, **10–20% of admin fees** would be redirected to incentivize **Savings crvUSD deposits**, creating a supply sink during periods of peg pressure. ### Pool Optimizations Ongoing research into modifications to Curve pool mechanics that could maintain better pool balance while reducing pressure on the crvUSD peg as liquidity scales. [How to scale Yield Basis and crvUSD at the same timeSummary Here I present some summary of interconnectedness of Yield Basis and crvUSD, and what could be a good pathway to safely scale BOTH to tens of billions USD. Background At $220M TVL Yield Basis already has the biggest BTC liquidity on chain. That is awesome for both Yield Basis and crvUSD adoption, but it also poses challenges for crvUSD! See this graph of crvUSD peg price: This behavior is actually inevitable for any stablecoin, and it did happen to Tether quite some times in the pas…![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/9c7a803d7c5591d1fd48e29d29655c02c88a2b81_2_32x32.svg)Yield Basismichwill![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/aca9fede139b0a3d516b1903752ee8c44fb78c26_2_1024x794.png)](https://forum.yieldbasis.com/t/how-to-scale-yield-basis-and-crvusd-at-the-same-time/27) ## CRV + YB Rewards for PegKeeper Pools Governance approved a proposal to add **CRV and YB rewards to all PegKeeper pools** ([Vote 1353](https://www.curve.finance/dao/ethereum/proposals/1353-ownership)). PegKeeper play a central role in maintaining crvUSD’s peg. Adding incentives directly aligns liquidity providers with the protocol’s stability mechanisms. An earlier version of the proposal ([Vote 1350](https://www.curve.finance/dao/ethereum/proposals/1350-ownership)) failed to reach quorum, but the resubmission passed with strong support. ## DAO on Trial: Code, Humans, and the Limits of Governance February also saw the launch of **DAO on Trial**, a new podcast series discussing the realities of on-chain governance. Participants included: - **Michael Egorov** (Curve / YieldBasis) - **Marc Zeller** (Aave DAO) - **Gabriel Shapiro** (MetaLeX) Moderated by our chad Gerrit from Curve. The discussion focused on how decentralized governance interacts with real-world constraints. Key themes included: - DAOs function more like **countries than companies** - Governance conflict can signal **healthy decentralization** - Smart contracts enforce rules on-chain, but DAOs still operate within legal and social systems [DAO on Trial: Code, Humans, and the Limits of On-Chain GovernanceDAOs have moved beyond theory. Leaders from Curve, Aave, and Metalex discuss where on-chain governance meets legal reality.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-50.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/dao-on-trial-banner.png)](https://news.curve.finance/dao-on-trial/) ## Stable Summit IV: Curve as Host Stable Summit IV announced with **Curve as host** in Cannes As the liquidity layer behind many of DeFi’s largest stablecoins, Curve powers the deepest on-chain stablecoin markets. Stable Summit brings together issuers, integrators, and infrastructure providers across the ecosystem. > At the core of Stable Summit IV: Curve as Host. > > As the liquidity layer behind stablecoins in DeFi, [@CurveFinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw) powers the deepest onchain stablecoin markets. For years, stablecoin issuers and ecosystem integrators have built on its infrastructure, making Curve the home of… [pic.twitter.com/oMUVla0fei](https://t.co/oMUVla0fei) > > — Stable Summit 🦫 (@stable\_summit) [February 17, 2026](https://twitter.com/stable%5Fsummit/status/2023744744074211357?ref%5Fsrc=twsrc%5Etfw) ## Aragon Ownership Token Framework Curve was featured as a launch reference in **Aragon’s Ownership Token Framework**, a new analytical standard for evaluating token ownership and value accrual. The framework measures: - Ownership rights - Value distribution - On-chain enforceability of governance decisions Curve was highlighted for its **programmatic governance mechanisms**, which route protocol value through transparent on-chain systems. ## New LlamaLend Markets and Oracles Two new oracle configurations were deployed for LlamaLend markets: - **fxSAVE market** ([Vote 1335](https://www.curve.finance/dao/ethereum/proposals/1335-ownership)): Oracle based on: fxUSD/USDC, USDC/crvUSD, and the aggregated crvUSD price with PPS. - **sreUSD-long market** ([Vote 1346](https://www.curve.finance/dao/ethereum/proposals/1346-ownership)): Oracle implementation for sreUSD/crvUSD pricing. ## Record Daily Active Users Curve reached a new milestone in early February with **4,900 daily active users**, an all-time high. This represents significant growth compared to the **sub-1,000 daily users seen in 2023**, reflecting increased demand for Curve’s liquidity and lending infrastructure across multiple chains. ## Governance Summary February was one of the busiest governance months in Curve’s history, with **20 ownership votes** covering peg stability, emissions management, new gauges, and oracle deployments. **Peg Defense Cluster (Feb 5-6):** Votes **1340–1344** passed within 48 hours, demonstrating the DAO’s ability to respond rapidly to market stress. **Emissions Cleanup:** CrossCurve / EYWA pools removed across mainnet and Arbitrum; lvlUSD pools removed **FXSwap Adjustments:** A/gamma parameters ramped for the **ZCHF/crvUSD pool**. **crvUSD Flashloan Cap:** Proposal to increase the flashloan cap from **3M → 30M crvUSD** ([Vote 1355](https://www.curve.finance/dao/ethereum/proposals/1355-ownership)). --- ### Curve Best Yields & Key Metrics | Week 10, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-10-2026/ Last updated: 2026-03-05T13:14:48.000Z ## Market Overview Curve TVL slipped 1.7% this week, currently at **$2.08B**. Here's the news: - The crvUSD price moved back firmly to **$1.00**, with the PegKeepers deploying $6.42M of stability reserves. - The [sDOLA lending market was unfortunately exploited](https://x.com/CurveFinance/status/2028427216401342496) with a misconfigured oracle leading to a donations attack. LlamalendV2 should help curb these sorts of issues, soon™. - [crvUSD flash loan cap is being raised](https://www.curve.finance/dao/ethereum/proposals/1355-ownership) by 10x to 30M crvUSD by the free flashloaner contract. As always, there are plenty of yield opportunities across Curve. See the highlights and weekly metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $67.9M | 9.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) | $31.9M | 8.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $15.8M | 7.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $13M | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $17.9M | 4.2% | ### Other Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/avalanche.png "Avalanche") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-avalanche/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-avalanche/0x9ee1963f05553ef838604dd39403be21cef26aa4.png)USDp](https://curve.finance/dex/#/avalanche/pools/factory-stable-ng-30/deposit) | Pool | 43.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 40.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-650/deposit) | Pool | 34.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x31bc2baa782e5180e9efa32261d2bb33ce8918bc.png)xpUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-668/deposit) | Pool | 31.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-578/deposit) | Pool | 22.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 20.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 20.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-663/deposit) | Pool | 16.8% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* *Note: alETH is currently about 5% off-peg and wasn't included on the banner, but is included here as it has been gradually returning to peg since 2023.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0100546f2cd4c9d97f798ffc9755e47865ff7ee6.png)alETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-217/deposit) | ETH | 81.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xd18b7ec58cdf4876f6afebd3ed1730e4ce10414b.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC](https://curve.finance/dex/monad/pools/factory-stable-ng-18/deposit) | BTC | 13.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-303/deposit) | ETH | 8.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 6.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 1.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 1.3% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 10.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x11cdb42b0eb46d95f990bedd4695a6e3fa034978.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/arbitrum/pools/factory-tricrypto-27/deposit) | CRV | 9.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 6.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 5.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 4.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 1.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.1% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD metrics improved this week. While minted supply fell 8.0% to $22.8M, the peg has recovered firmly back to $1.00, with PegKeepers deploying $6.42M of stability reserves, improving crvUSD stability if volatility returns. The scrvUSD yield also rose, along with the borrowing rates finally coming back down. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $22.8M | \-8.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 8.7% | +3.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 139.5% | \-20.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $1.0 | +$0.0019 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 11.1% | \-2.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $6.42M | +$6.42M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $0 | \- | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) cooled this week, with supplied, borrowed, and collateral balances all down and active loans declining by 57, mainly due to the unfortunate [sDOLA lending market hack](https://x.com/CurveFinance/status/2028427216401342496). | Metric | Value | Change | | ---------------- | ------ | ------- | | 🦙 Llamalend TVL | $118M | \-3.8% | | 🦙 Supplied | $64.1M | \-6.8% | | 🦙 Borrowed | $50.5M | \-23.1% | | 🦙 Collateral | $82.1M | \-13.9% | | 🦙 Loans | 941 | \-57 | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) saw stronger activity this week, with volume, swaps, and fees all increasing even as TVL declined. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.08B | \-1.7% | | 🔄 Volume | $1.14B | +12.1% | | 🔄 Swaps | 472k | +10.5% | | 🔄 Total Fees | $267k | +37.5% | ### DAO DAO metrics were steady overall, with veCRV distribution rising 41.4% to $110k as fee generation improved week over week. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.48B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 857M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 787M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $110k | +41.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $551k (2.22M CRV) | +5.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.903% | \-0.004% | ## Top Stableswap Pools The USDS pools stayed in the top spot, with crvUSD pools also climbing the rankings on stronger turnover. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $466.6M | $5.4k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $421.6M | $4.4k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $311.0M | $3.4k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $116.1M | $17.4k | | 5 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $77.6M | $7.8k | | 6 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $59.8M | $6.0k | | 7 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $55.3M | $5.5k | | 8 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $53.2M | $5.6k | | 9 | +6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $42.8M | $5.4k | | 10 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $33.2M | $6.7k | ## Top Cryptoswap Pools The top Cryptoswap leaderboard was stable this week, with the core Tricrypto pools holding the top four positions by volume. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | -- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $24.1M | $14.4k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $21.2M | $13.1k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $16.4M | $26.6k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $11.4M | $6.7k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://curve.finance/dex/#/base/pools/factory-crypto-1/deposit) | $5.4M | $1.7k | | 6 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x320623b8e4ff03373931769a31fc52a4e78b5d70.png)RSR](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-21/deposit) | $1.9M | $1.5k | ## Gauge Winners & Losers Gauge votes rotated meaningfully this week. msETH/WETH led emissions gains (+69.8k), while pmUSD pools saw the largest reduction (-140k). | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $16.9M | 111k | +69.8k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $9.73M | 69.5k | +37.9k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $65.6M | 38k | +35.7k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $9.74M | 7.35k | \-34.9k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $15.8M | 190k | \-53k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | $13.6M | 121k | \-140k | ## DEX Winners & Losers ### Fees Winners & Losers Fee gains were led by Tricrypto-1 and msETH/WETH, while stable pools including PYUSD/USDS and USDG/USDC saw the largest fee pullbacks. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $16.4M | $26.6k | +$9.99k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $28.2M | $11.3k | +$5.45k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-147/deposit) | $13.6M | $5.45k | +$5.44k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-178/deposit) | $10.7M | $1.12k | \-$1.6k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $2.44M | $245 | \-$1.8k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $422M | $4.38k | \-$2.95k | ### Volume Winners & Losers USDC/USDT and sUSDS/USDT drove the largest volume increases this week. PYUSD/USDS was the biggest decliner after last week's spike. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $311M | $3.35k | +$93.7M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $467M | $5.38k | +$81.3M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $77.6M | $7.76k | +$42.2M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-178/deposit) | $10.7M | $1.12k | \-$11.2M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $2.44M | $245 | \-$17.2M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $422M | $4.38k | \-$245M | ### TVL Winners & Losers crvUSD pools saw the largest TVL increases this week, partly from the PegKeepers starting to deploy reserves, but also partly from the great yield available. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $27.7M | +$6.81M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $67.9M | +$6.8M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $16.9M | +$3.24M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $80.4M | \-$7.16M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $44.4M | \-$7.84M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $65.6M | \-$26.3M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers crvUSD minting markets outflows continued unfortunately, with the BTC markets having the largest outflows. However, now that crvUSD is back to peg and the peg stability reserves are being deployed, the borrowing rates should decline significantly. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $1.49M | $857k | +$3.67k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $1.26M | $798k | +$3.42k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $341k | $151k | +$746 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $3.76M | $2.35M | \-$259k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $30.4M | $13.8M | \-$290k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $5.23M | $3.05M | \-$1.38M | ### Lend Markets - Borrowing Winners & Losers Borrow demand increased in WETH, WBTC, and CRV collateral markets, but those gains were outweighed by large paydowns in sDOLA and sreUSD, mostly due to the sDOLA market oracle exploit. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $711k | $521k | +$224k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.35M | $2.54M | +$163k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.18M | $3.31M | +$113k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $1.71M | $1.27M | \-$453k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $32.3M | $14.2M | \-$1.4M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $13.5M | $55.9 | \-$11.8M | ### Lend Markets - Supplying Winners & Losers Supplied balances shifted strongly toward the sreUSD market (+$4.17M), while sDOLA and sUSDe saw the largest reductions in supplied liquidity due to the exploit of it's oracle. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $32.3M | $14.2M | +$4.17M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $711k | $521k | +$215k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.18M | $3.31M | +$51.9k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.35M | $2.54M | \-$203k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $1.71M | $1.27M | \-$264k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $13.5M | $55.9 | \-$8.23M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Knowledge Hub: A Unified Home for Curve Documentation URL: https://news.curve.finance/curve-knowledge-hub-a-unified-home-for-curve-documentation/ Last updated: 2026-03-02T14:19:59.000Z The Curve Knowledge Hub, live at , brings together all Curve documentation into one structured, searchable platform. What was previously spread across multiple sites is now consolidated into a single destination designed to serve the entire Curve ecosystem. All documentation, including user guides, protocol explanations, developer references, and technical materials, is now available at **docs.curve.finance**. The goal is simple: one source of truth for everything Curve. ## Why This Matters As Curve has grown, so has its documentation. But growth also brought fragmentation. Different domains, different structures, different entry points. The Knowledge Hub solves that. It improves: - Accessibility – Clear navigation paths based on who you are and what you are trying to do. - Discovery – Algolia-powered search with AI enhancements that allow users to query the documentation naturally and surface relevant results across the protocol. - Continuity – Ecosystem updates from news.curve.finance are integrated directly into the Hub, so new content appears immediately within the same environment. - Onboarding – Beginner-friendly guides reduce the barrier to entry for users new to DeFi, without assuming prior knowledge. Instead of asking, “Where do I find this?”, the Hub is designed to answer, “What are you trying to accomplish?” ## Built for an AI-Native Future The Knowledge Hub is structured for machine consumption. It can be accessed via a Machine Context Protocol (MCP) server, allowing developers experimenting with AI-assisted coding tools to request structured documentation context directly. MCP endpoint: As AI becomes part of development workflows, Curve’s documentation is designed to integrate seamlessly. ## Three Sections, Three Audiences The Knowledge Hub is organized around how people actually interact with Curve. ### Users For those who swap, provide liquidity, borrow, or participate in governance. This section explains Curve from an end-user perspective. It introduces core concepts, assets, and mechanics, and includes step-by-step interface guides that walk through real actions in the UI. The focus is practical usability, helping users confidently interact with Curve without overwhelming them with technical detail. ### Developers For those building on top of Curve. This section provides smart contract documentation, integration references, and API materials required to interact with Curve programmatically. The technical reference that previously lived on a separate site is now fully integrated into the Knowledge Hub. ### Build on Curve For protocols and teams launching infrastructure on Curve. This section focuses on the strategic and operational considerations of deploying on Curve’s liquidity layer, including launching pools, deploying lending markets, configuring incentives, integrating Curve mechanisms, and designing sustainable liquidity strategies. It reflects Curve’s role as a neutral, permissionless infrastructure layer supporting assets and markets across the ecosystem. ## A Single Destination for the Curve Ecosystem The Curve Knowledge Hub brings together users, developers, and protocols under one coherent structure. - Users learn how to interact with Curve. - Developers gain the technical reference needed to integrate it. - Protocols receive guidance on how to deploy and operate on Curve infrastructure. As the ecosystem grows, the Knowledge Hub grows with it, becoming the definitive reference point for understanding, using, and building on Curve. Everything Curve. One place. [Explore the Curve Knowledge Hub! ](https://docs.curve.finance/) --- ### Curve Best Yields & Key Metrics | Week 9, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-9-2026/ Last updated: 2026-02-26T13:15:51.000Z ## Market Overview Curve's TVL moved higher this week, **up 2.3%** to **$2.093B**. It's been an active week for governance. All crvUSD and YieldBasis proposals have passed. This means: - [Rate calculations have been tweaked](https://www.curve.finance/dao/ethereum/proposals/1342-ownership) so they react slower to price declines in crvUSD. - The [emergencyDAO can now set parameters](https://www.curve.finance/dao/ethereum/proposals/1343-ownership) within the YB pools. - The [emergencyDAO can also now use up to $400k](https://www.curve.finance/dao/ethereum/proposals/1344-ownership) crvUSD in emergency situations. - [scrvUSD can now use up to 80% of crvUSD minting fees](https://www.curve.finance/dao/ethereum/proposals/1340-ownership) to incentivize holding crvUSD. There will also potentially be new incentives flowing to all [crvUSD pegkeeper pools soon](https://www.curve.finance/dao/ethereum/proposals/1353-ownership). As always, see the highlighted yields, key weekly metrics, and winners/losers below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $16.1M | 9.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $61.1M | 9.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) | $39.8M | 4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $17.3M | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $12.9M | 4.5% | ### Other Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 84.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/avalanche.png "Avalanche") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-avalanche/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-avalanche/0x9ee1963f05553ef838604dd39403be21cef26aa4.png)USDp](https://curve.finance/dex/#/avalanche/pools/factory-stable-ng-30/deposit) | Pool | 81.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | Pool | 41.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 23.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-663/deposit) | Pool | 22.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 22.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09fd37d9aa613789c517e76df1c53aece2b60df4.png)ebUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-487/deposit) | Pool | 18.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-688/deposit) | Pool | 15.7% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 5.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x85b78aca6deae198fbf201c82daf6ca21942acc6.png)ARM-WETH-stETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-641/deposit) | ETH | 5.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 3.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 1.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://curve.finance/dex/#/optimism/pools/factory-v2-63/deposit) | BTC | 0.8% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 22.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-283/deposit) | CRV | 11.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 6.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 6.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 1.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.1% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD metrics were mostly stable this week. Minted supply and average borrow rates edged lower, while the peg improved to $0.9981\. scrvUSD yield eased to 4.9%. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $24.8M | \-0.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 4.9% | \-1.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 160.2% | \-3.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9981 | +$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 13.5% | \-0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $0 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $0 | \- | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics were mixed but largely unchanged: TVL and collateral rose, borrowed nudged up, and loan count and supplied amounts declined very slightly. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $123M | +1.6% | | 🦙 Supplied | $68.7M | \-0.6% | | 🦙 Borrowed | $65.7M | +0.4% | | 🦙 Collateral | $95.4M | +3.1% | | 🦙 Loans | 998 | \-10 | ### DEX [DEX pool](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) had a stronger week overall. TVL, volume, and fees all increased, while swap count fell, suggesting larger average trade sizes. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.11B | +1.9% | | 🔄 Volume | $1.02B | +30.9% | | 🔄 Swaps | 427k | \-6.6% | | 🔄 Total Fees | $195k | +7.0% | ### DAO DAO metrics were modestly down compared to the prior week, with a lower weekly distribution and CRV emissions declining when valued in USD. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.48B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 857M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 787M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $78.1k | \-11.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $523k (2.22M CRV) | \-5.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.907% | \-0.004% | ## Top Stableswap Pools Stablecoin flow remained concentrated in core pools this week, once again led by PYUSD/USDS and sUSDS/USDT. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $666.7M | $7.3k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $385.3M | $6.3k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $217.3M | $2.8k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $106.8M | $16.0k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $54.9M | $5.5k | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $35.4M | $3.5k | | 7 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $32.1M | $3.3k | | 8 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $27.3M | $2.7k | | 9 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $26.3M | $2.7k | | 10 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $26.2M | $2.1k | ## Top Cryptoswap Pools Tricrypto markets continue to lead cryptoswap activity. USDC/WBTC/WETH moved into the top spot this week. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $31.7M | $14.6k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $18.1M | $9.7k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $10.2M | $16.6k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $9.0M | $5.5k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://curve.finance/dex/#/base/pools/factory-crypto-1/deposit) | $2.5M | $813.8 | | 6 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $1.4M | $4.7k | ## DEX Winners & Losers ### CRV Emissions Winners & Losers Gauge vote changes were relatively small this week, as this was the off week for the fortnightly vlCVX gauge vote, and as veCRV voters can only change their votes once every 10 days. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------------- | ------ | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c9815826fdf8c7a45ccfed2064dbab33a078712.png)CVX1![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2191df768ad71140f9f3e96c1e4407a4aa31d082.png)cvgCVX](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-186/deposit) | $134k | 2.27k | +799 | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x73968b9a57c6e53d41345fd57a6e6ae27d6cdb2f.png)SDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x830614ae209ff9d8706d386fcdbc7a55206fcffc.png)cvgSDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-81/deposit) | $83.5k | 487 | +336 | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $9.91M | 31.6k | +218 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-518/deposit) | $774k | 6.76k | \-422 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://curve.finance/dex/#/base/pools/factory-crypto-1/deposit) | $16.9M | 656 | \-631 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $12.9M | 86.4k | \-698 | ### Fees Winners & Losers Fee gains were led by USDC/WBTC/WETH, 3pool, and USDS/stUSDS, while fee declines were comparatively modest. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $31.7M | $14.6k | +$6.75k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $107M | $16k | +$6.47k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-628/deposit) | $7.06M | $8.2k | +$6.42k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x83f20f44975d03b1b09e64809b757c47f942beea.png)sDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-102/deposit) | $2.27M | $512 | \-$1.24k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $9.6M | $970 | \-$1.3k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $3.1M | $793 | \-$2.48k | ### Volume Winners & Losers Volume increases were concentrated in large stablecoin pools, with PYUSD/USDS and sUSDS/USDT leading week-over-week growth. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $667M | $7.32k | +$185M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $385M | $6.32k | +$148M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $217M | $2.77k | +$137M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $3.1M | $793 | \-$10.2M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $6.78M | $631 | \-$10.4M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $9.6M | $970 | \-$12.5M | ### TVL Winners & Losers USDC/RLUSD lead the inflows this week, with the YB crvUSD/cbBTC pool increasing in TVL from the higher BTC price, and the stETH pool benefiting from the higher ETH value in USD. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $87.6M | +$5.72M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-252/deposit) | $186M | +$5.06M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xdbfefd2e8460a6ee4955a68582f85708baea60a3.png)superOETHb](https://curve.finance/dex/#/base/pools/factory-stable-ng-143/deposit) | $44.6M | +$3.61M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-297/deposit) | $499k | \-$1.61M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-167/deposit) | $1.82M | \-$1.94M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1202f5c7b4b9e47a1a484e8b270be34dbbc75055.png)wstUSR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-568/deposit) | $24.3M | \-$12.9M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers The increase in borrowing was largely because of generated interest fees creating more debt for borrowers. Unfortunately the crvUSD markets are still in a period of flux with crvUSD trying to stabilize back firmly at $1. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $3.12M | $1.67M | +$4.73k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $329k | $150k | +$495 | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $2.86 | $1.02 | +$0.00281 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $1.43M | $854k | \-$17.8k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $28.9M | $14.1M | \-$57.2k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $4.04M | $2.61M | \-$94.1k | ### Lend Markets - Borrowing Winners & Losers sDOLA led borrowing growth this week, while sUSDe and sfrxUSD markets saw the largest borrow reductions. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $21.7M | $11.8M | +$425k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.56M | $2.38M | +$160k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $861k | $667k | +$128k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-10/vault/deposit) | $512k | $248k | \-$28.5k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $3.81M | $2.93M | \-$86.8k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $1.98M | $1.72M | \-$181k | ### Lend Markets - Supplying Winners & Losers Supplied crvUSD rose most in sreUSD, wstETH, and sfrxUSD markets, while fxSAVE saw the largest supply outflow. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $28.1M | $15.6M | +$289k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $861k | $667k | +$138k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $3.81M | $2.93M | +$125k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $1.98M | $1.72M | \-$255k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $21.7M | $11.8M | \-$352k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $400k | $245k | \-$383k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 8, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-8-2026/ Last updated: 2026-02-19T15:11:08.000Z ## Market Overview It’s been a quiet week for Curve and the broader DeFi space as recent volatility has faded. Curve’s TVL ticked up 0.5% to **$2.08B**. The crvUSD peg continues to recover (currently $0.998). The DAO has also pushed several changes aimed at strengthening the peg and improving response options in extreme market conditions: - [Interest rate parameters have been tweaked](https://www.curve.finance/dao/ethereum/proposals/1342-ownership) - [An emergency role has been created for the YB pools](https://www.curve.finance/dao/ethereum/proposals/1343-ownership), allowing the emergency DAO to adjust pool parameters in extreme conditions - [The emergency DAO can use up to $400k crvUSD from the treasury](https://www.curve.finance/dao/ethereum/proposals/1344-ownership) to protect the peg in extreme market conditions - [scrvUSD max fee share increased from 50% to 80%](https://www.curve.finance/dao/ethereum/proposals/1340-ownership) to better incentivize holding crvUSD when minting rates are high As always, there are plenty of yield opportunities on Curve. See the highlights below, along with the weekly metrics. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $13.4M | 10.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $59M | 9.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD $41M 6.1% ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") ](https://www.curve.finance/crvusd/ethereum/scrvUSD)[![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $12.9M | 3.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $17.2M | 3.7% | ### Other Top USD Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-669/deposit) | Pool | 34.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09fd37d9aa613789c517e76df1c53aece2b60df4.png)ebUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-487/deposit) | Pool | 25.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9cf12ccd6020b6888e4d4c4e4c7aca33c1eb91f8.png)USDaf![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6440f144b7e50d6a8439336510312d2f54beb01d.png)BOLD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-546/deposit) | Pool | 23.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-663/deposit) | Pool | 23.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8e870d67f660d95d5be530380d0ec0bd388289e1.png)USDP![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-2/deposit) | Pool | 18.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-682/deposit) | Pool | 17.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-681/deposit) | Pool | 15.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-688/deposit) | Pool | 14.8% | ### Top BTC & ETH Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets-base/0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.png)ETH![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://www.curve.finance/dex/base/pools/factory-crypto-1/deposit) | ETH | 7.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 5.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x85b78aca6deae198fbf201c82daf6ca21942acc6.png)ARM-WETH-stETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-641/deposit) | ETH | 4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xb0f70c0bd6fd87dbeb7c10dc692a2a6106817072.png)BTC.b](https://curve.finance/dex/monad/pools/factory-stable-ng-8/deposit) | BTC | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 3.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 1.9% | ### Other Top Yields *All yields are calculated assuming a minimum of $100k TVL.* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 23.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x62b9c7356a2dc64a1969e19c23e4f579f9810aa7.png)cvxCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-283/deposit) | CRV | 10.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 5.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 3.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 1.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.1% | ## Weekly Metrics ### crvUSD & scrvUSD Minted amounts are stabilizing and borrow rates are easing, which should continue as the new [crvUSD safety mechanisms](https://gov.curve.finance/t/grant-edao-peg-defense-capabilities/10991) roll out. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $25M | \-2.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 6.1% | \-2.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 163.9% | \-7.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9978 | \-$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 13.7% | \-3.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $0 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $0 | \- | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics were positive overall, with a small decline driven by low-value loans being closed. Will these metrics accelerate with LlamalendV2 approaching? | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $121M | +1.1% | | 🦙 Supplied | $69.2M | +5.2% | | 🦙 Borrowed | $65.5M | +3.6% | | 🦙 Collateral | $92.7M | +0.9% | | 🦙 Loans | 1009 | \-3 | ### DEX Curve’s [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) held TVL steady, while volumes and fees fell (typical when volatility cools). | Metric | Value | Change | | ------------ | ------ | ------- | | 🔄 TVL | $2.08B | +0.5% | | 🔄 Volume | $780M | \-65.9% | | 🔄 Swaps | 457k | \-31.4% | | 🔄 Swap Fees | $182k | \-68.9% | ### DAO The DAO saw a smaller distribution this week, reflecting lower volumes and softer crvUSD borrowing rates. Other DAO metrics were steady. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.48B | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 858M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 787M | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $88k | \-72.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $555k (2.22M CRV) | +0.9% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.912% | \-0.004% | ## Top Stableswap Pools USDS pools once again led the week. Ethena’s USDtb was also in high demand. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ----- | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $481.4M | $4.9k | | 2 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $236.9M | $5.3k | | 3 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $80.8M | $1.5k | | 4 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $63.7M | $9.6k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $63.5M | $6.4k | | 6 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $39.8M | $4.0k | | 7 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $38.8M | $4.0k | | 8 | +6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $31.2M | $3.3k | | 9 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $31.0M | $3.1k | | 10 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $29.7M | $2.4k | ## Top Cryptoswap Pools The cbETH/WETH pool on Base saw the biggest move on this leaderboard this week, climbing 13 places. It’s an interesting market because cbETH accrues yield over time, so the cbETH/WETH ratio steadily increases. When the pool launched, that made it difficult to fit cleanly into a Stableswap design, so it was deployed as a Cryptoswap pool. It still functions well there, but if the pool were created today, it would be a straightforward Stableswap deployment with the new Stableswap version. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $14.4M | $8.5k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $13.0M | $7.8k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $10.9M | $17.5k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $10.7M | $5.6k | | 5 | +13 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://curve.finance/dex/#/base/pools/factory-crypto-1/deposit) | $2.3M | $726.8 | | 6 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x320623b8e4ff03373931769a31fc52a4e78b5d70.png)RSR](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-21/deposit) | $1.4M | $955.9 | ## DEX Winners & Losers ### CRV Emissions Winners & Losers This new section highlights pools with the largest changes in CRV emissions (gauge votes). This week, the frxUSD/msUSD pool saw the biggest increase, roughly tripling its emissions. | 📍 | Chain | Pool | TVL | CRV Emissions | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | $5.44M | 99.2k | +66.1k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $11.9M | 42.2k | +32.5k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | $12.2M | 260k | +28.1k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $10M | 31.4k | \-24.4k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | $9.67M | 1.56 | \-31.4k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $91.9M | 2.35k | \-33k | ## ### Fees Winners & Losers Following the elevated activity in recent weeks, fee winners saw only modest gains, while several pools recorded large declines in swap fees as volumes normalized. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $237M | $5.33k | +$2.29k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8207c1ffc5b6804f6024322ccf34f29c3541ae26.png)OGN![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-323/deposit) | $699k | $2.8k | +$2.27k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-326/deposit) | $266k | $1.33k | +$1.07k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-251/deposit) | $9.03M | $3.61k | \-$33.7k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $10.9M | $17.5k | \-$39.8k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $10.7M | $4.28k | \-$50.2k | ### Volume Winners & Losers Sky was both the biggest winner and loser for volume this week: the sUSDS pool more than doubled its volume, while the PYUSD/USDS pool saw the largest decline. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $237M | $5.33k | +$130M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $22.1M | $2.27k | +$8.31M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-178/deposit) | $18.9M | $2.01k | +$4.16M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $10.7M | $4.28k | \-$126M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $63.7M | $9.56k | \-$219M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $481M | $4.91k | \-$292M | ### TVL Winners & Losers The PYUSD/crvUSD pool was the largest TVL gainer this week, adding nearly $10M as liquidity moved toward its favorable risk-reward profile and yield. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $59M | +$9.76M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $91.9M | +$8.84M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $49.6M | +$7.76M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | $9.67M | \-$2.33M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $81.8M | \-$2.84M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-252/deposit) | $182M | \-$4.54M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers Several crvUSD minting markets saw modest borrowing increases this week, though total crvUSD supply still declined slightly overall. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | --------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $1.35M | $872k | +$44.1k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $2.91M | $1.66M | +$10.7k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $28.2M | $14.2M | +$7.61k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $2.77 | $1.01 | +$0.00315 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $286k | $144k | \-$61.5 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $6.05M | $4.43M | \-$687k | ### Lend Markets - Borrowing Winners & Losers sreUSD was the biggest borrowing winner, as users continued looping strategies following Resupply’s updated lending and redemption parameters. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $27.8M | $15.7M | +$3.28M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.6M | $2.22M | +$688k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.07M | $3.15M | +$9.1k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $22.1M | $11.4M | \-$177k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.23M | $1.9M | \-$232k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $3.69M | $3.02M | \-$448k | ### Lend Markets - Supplying Winners & Losers WBTC saw the largest increase in supplied crvUSD this week, with the sreUSD market close behind. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.6M | $2.22M | +$1.85M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $27.8M | $15.7M | +$1.21M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $784k | $243k | +$417k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/lend/#/ethereum/markets/one-way-market-32/vault/deposit) | $29.9k | $4.6k | \-$63.7k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.23M | $1.9M | \-$297k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $3.69M | $3.02M | \-$461k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 7, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-7-2026/ Last updated: 2026-02-12T15:00:13.000Z ## Market Overview Welcome to another week of yields. Curve's total TVL has decreased slightly this week, down 0.7% to **$2.039B**. Many new changes are on the way for crvUSD after recent volatility tested the crvUSD peg. See a list of the changes in [LlamaRisk's recent thread](https://x.com/LlamaRisk/status/2020881121588711862). It's a great time to buy and supply to the crvUSD pools and scrvUSD, with the PegKeeper PYUSD/crvUSD pool offering a huge 16.1% yield, and even the scrvUSD vault offering over 8% interest. As always, see all the highlighted yields and weekly metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $49.2M | 15.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $11.7M | 13.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) | $43.8M | 8.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $10.2M | 5.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $18.9M | 4.4% | ### Other Top USD Yields *All yields have been calculated as if markets have at least $100k TVL*. | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-663/deposit) | Pool | 41.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-650/deposit) | Pool | 34.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-578/deposit) | Pool | 24.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-681/deposit) | Pool | 20.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | Pool | 16.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | Llamalend | 16.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | Llamalend | 16.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0d86883faf4ffd7aeb116390af37746f45b6f378.png)USD3![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-307/deposit) | Pool | 13.0% | ### Top BTC & ETH Yields *All yields have been calculated as if markets have at least $100k TVL*. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x85b78aca6deae198fbf201c82daf6ca21942acc6.png)ARM-WETH-stETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-641/deposit) | ETH | 10.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets-base/0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.png)ETH![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://www.curve.finance/dex/base/pools/factory-crypto-1/deposit) | ETH | 8.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-303/deposit) | ETH | 5.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xb0f70c0bd6fd87dbeb7c10dc692a2a6106817072.png)BTC.b](https://curve.finance/dex/monad/pools/factory-stable-ng-8/deposit) | BTC | 5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 3.4% | ### Other Top Yields *All yields have been calculated as if markets have at least $100k TVL*. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 10.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x11cdb42b0eb46d95f990bedd4695a6e3fa034978.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/arbitrum/pools/factory-tricrypto-27/deposit) | CRV | 9.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 4.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 4.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9.png)USD₮0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/tricrypto/deposit) | TRICRYPTO | 4.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3231cb76718cdef2155fc47b5286d82e6eda273f.png)EURe](https://curve.finance/dex/#/ethereum/pools/factory-v2-231/deposit) | EUR | 2.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 1.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.2% | ## Weekly Metrics ### crvUSD & scrvUSD Another tough week for crvUSD, as supply contracts as expected due to the peg decreasing, incentivizing borrowers to buy back crvUSD below $1 and make a profit by closing their loans. Interestingly, the crvUSD in scrvUSD has increased significantly and is sitting at over 100% of the minted crvUSD currently. This is possible because of the 15M crvUSD minted to the sreUSD market, as well as some of the YB allocation being temporarily within other markets until their pools rebalance. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $25.6M | \-31.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 8.1% | \-3.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 170.9% | +88.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9979 | +$0.0049 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 17.3% | \-20.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $4.44M | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $0 | \-$2.25k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics are down across the board, as expected with the recent price falls and liquidity crunch. | Metric | Value | Change | | ---------------- | ------ | ------- | | 🦙 Llamalend TVL | $120M | \-9.2% | | 🦙 Supplied | $65.8M | \-1.6% | | 🦙 Borrowed | $63.2M | \-16.8% | | 🦙 Collateral | $91.9M | \-11.8% | | 🦙 Loans | 1012 | \-105 | ### DEX Curve's [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) has had another stellar week. After last week's huge volumes and fees, this week is also very positive. Even though metrics are down from last week, they are up compared to the average. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.07B | \-1.6% | | 🔄 Volume | $2.29B | \-37.4% | | 🔄 Swaps | 666k | \-4.9% | | 🔄 Total Fees | $584k | \-15.1% | ### DAO The DAO saw another very significant distribution, amidst big volatility in the markets causing high trading volumes and fees, and high borrowing rates. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.48B | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 858M | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 786M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $320k | \-32.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $550k (2.22M CRV) | \-17.0% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.916% | \-0.006% | ## Top Stableswap Pools PYUSD/USDS once again won the week for volumes, with the DAI/USDC/USDT pool coming in second. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $773.4M | $8.8k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $282.7M | $42.4k | | 3 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $136.2M | $54.5k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $135.7M | $13.6k | | 5 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $135.6M | $13.6k | | 6 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $133.2M | $3.2k | | 7 | \-4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $131.8M | $13.2k | | 8 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $127.4M | $27.2k | | 9 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $107.2M | $3.0k | | 10 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-251/deposit) | $93.3M | $37.3k | ## Top Cryptoswap Pools Got to love the Tricrypto pools, filling the top six Cryptoswap pools once again. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $44.2M | $27.5k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $42.0M | $26.6k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $27.0M | $57.3k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $17.3M | $15.0k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | $3.2M | $9.1k | | 6 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9.png)USD₮0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/tricrypto/deposit) | $2.7M | $1.8k | ## DEX Winners & Losers ### Fees Winners & Losers PYUSD and USDS were both in high demand. With crvUSD's peg stabilizing back close to $1, the crvUSD/USDT pool was the biggest loser due to the decrease in volatility from the restoring peg. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $85.4M | $9.25k | +$5.97k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-628/deposit) | $6.08M | $6.42k | +$4.54k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $773M | $8.81k | +$4.14k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-251/deposit) | $93.3M | $37.3k | \-$11.3k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $136M | $54.5k | \-$14.6k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $132M | $13.2k | \-$15.8k | ### Volume Winners & Losers PYUSD won the week for added volumes, with the PegKeeper pools seeing lower volumes due to the price of crvUSD stabilizing back toward $1. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $773M | $8.81k | +$314M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $85.4M | $9.25k | +$53.2M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $133M | $3.19k | +$30.4M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $28.7M | $5.95k | \-$39.9M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $136M | $13.6k | \-$76.3M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $132M | $13.2k | \-$158M | ### TVL Winners & Losers The high incentives for the PYUSD/crvUSD pool doubled its TVL, winning the week for added TVL. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $49.2M | +$25.5M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $84.7M | +$13.7M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $41.8M | +$7.72M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $14.6M | \-$7.82M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x028171bca77440897b824ca71d1c56cac55b68a3.png)aDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbcca60bb61934080951369a648fb03df4f96263c.png)aUSDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3ed3b47dd13ec9a98b44e6204a523e766b225811.png)aUSDT](https://curve.finance/dex/#/ethereum/pools/aave/deposit) | $2.39M | \-$8.23M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-391/deposit) | $3.51M | \-$18.2M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers All crvUSD markets were red, as markets work as expected to stabilize the crvUSD peg. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $316k | $149k | \-$294 | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $293k | $144k | \-$9.39k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $2.84 | $1.01 | \-$43.6k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $7.15M | $5.12M | \-$1.25M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $3.98M | $2.69M | \-$1.55M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $28.9M | $14.2M | \-$6.3M | ### Lend Markets - Borrowing Winners & Losers sreUSD saw an increase in borrowing, as users found they could borrow crvUSD and deposit it into the PYUSD/crvUSD pool, or even directly into scrvUSD, and arbitrage the rate to earn extra yield. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $26.6M | $12.4M | +$1.36M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $1.75M | $1.53M | +$1.03M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $366k | $366k | +$81.7k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $2.53M | $2.13M | \-$353k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $4.15M | $3.46M | \-$1.2M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $21.7M | $11.6M | \-$1.63M | ### Lend Markets - Supplying Winners & Losers Interestingly, sreUSD also saw an increase in the amount supplied, as users potentially made use of the new [Resupply](https://news.curve.finance/resupply-success-story/) market parameters for leverage. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $26.6M | $12.4M | +$2.61M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $1.75M | $1.53M | +$1.1M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $639k | $412k | +$147k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $4.15M | $3.46M | \-$798k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $366k | $366k | \-$1.03M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $21.7M | $11.6M | \-$2.14M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### DAO on Trial: Code, Humans, and the Limits of On-Chain Governance URL: https://news.curve.finance/dao-on-trial/ Last updated: 2026-02-11T13:07:39.000Z DAOs have reached a point where theory is no longer enough. The podcast [*DAO on Trial: Code vs Humans*](https://www.youtube.com/watch?v=N0ukiwNhLcc) brings together three people who have been directly involved in building, governing, and legally interpreting some of the largest DAOs in DeFi: [**Michael Egorov**](https://x.com/newmichwill) of Curve and YieldBasis DAO, [**Marc Zeller**](https://x.com/Marczeller) of Aave DAO, and [**Gabriel Shapiro**](https://x.com/lex%5Fnode) of Metalex. Moderated by [**Gerrit**](https://x.com/CurveCap), the discussion moves past the question of whether DAOs “work” and instead examines where decentralized governance collides with real-world constraints. This article serves as a summary of this important conversation. The central tension is simple to state but difficult to resolve: **smart contracts can enforce rules on-chain, but DAOs still operate in a world of law, politics, and human incentives.** ## What people mean when they say “DAO” One of the first issues raised on the podcast is that the term “DAO” is used to describe very different organizational structures. Some projects label themselves as DAOs while relying heavily on off-chain coordination, small multisigs, or non-binding votes. Others are closer to what Egorov describes as a “classic DAO,” where governance decisions directly control on-chain logic, budgets, and protocol parameters, such as Curve. Shapiro stresses that this distinction is not academic. Legal systems respond to how organizations function in practice, not how they describe themselves. When loosely organized projects adopt the DAO label, they risk creating legal precedents that affect more rigorous systems as well. A useful working definition emerges from the discussion: **a DAO is a system whose core logic is enforced on-chain**, such that its essential arrangements do not depend on external legal enforcement. That does not mean DAOs never interact with the real world, but it does mean their fundamental commitments are enforced by code. ## DAOs as sovereign systems, not companies As the conversation unfolds, all three speakers converge on an important framing: **DAOs do not behave like traditional companies.** Egorov captures this succinctly when he suggests that a DAO is closer to a country than a firm. Zeller builds on this idea by describing Aave governance as a political process in which different actors represent different visions for the ecosystem. In his words, delegates function more like political parties than corporate managers. This analogy explains several features of mature DAOs that often surprise observers. Disagreement is persistent. Governance is slow at times. Outcomes are not always efficient in the short term. Yet legitimacy emerges from process rather than alignment. When decisions are debated publicly, voted on transparently, and executed on-chain, participants accept outcomes even when they disagree. That acceptance is what allows DAOs to persist through conflict. ## Governance and the importance of real power A recurring theme in the podcast is that governance only works when it carries real consequences. Zeller emphasizes that token holders in Aave are sovereign in practice, not just in theory. They decide protocol upgrades, risk parameters, treasury allocations, and even changes to the token itself. The structure distinguishes between routine actions and critical ones, requiring higher levels of consensus for decisions that affect the core of the system. Shapiro connects this to a broader principle: **governance requires both power and skin in the game**. If participants can complain but cannot meaningfully affect outcomes, engagement erodes. If voting has no economic consequence, governance becomes symbolic. This helps explain why some DAOs attract sustained participation while others do not. Curve and Aave differ in design, but both give governance real teeth. Votes matter because they directly change how the system behaves. ## Curve and Aave as contrasting models The podcast offers a useful comparison between two of DeFi’s most influential DAOs. Curve’s governance is built around incentive design and constraint. Egorov explains that the system controls emissions and parameters, but not everything is mutable. These limits are intentional. Curve’s vote-escrow model ([veCRV](https://knowledge.curve.finance/user/curve-tokens/vecrv)) requires long-term commitment, making it costly to pursue short-term extraction at the expense of the system. [*Read more about Curve governance*](https://knowledge.curve.finance/user/dao/overview). Aave takes a different approach. Zeller describes a layered governance system in which the DAO retains ultimate authority, while execution is handled by small, specialized service providers. This allows the protocol to remain decentralized while still moving quickly. [*Read more about Aave governance*](https://aave.com/docs/ecosystem/governance)*.* Zeller pushes back against the idea that DAOs must be slow. In his view, a modular service-provider model can be more efficient than a large, vertically integrated organization that becomes bogged down in internal politics. ## Where on-chain governance stops Despite their differences, both Curve and Aave face the same structural limitation: **some assets cannot be governed directly on-chain**. Brands, trademarks, intellectual property, and legal agreements exist outside smart contracts. When these assets are held by off-chain entities, they create points of leverage that governance cannot fully control. The podcast touches on recent disputes that highlight this problem. Even when a DAO controls the protocol and treasury, unresolved questions about off-chain ownership can undermine sovereignty. Shapiro argues that this does not invalidate the DAO model, but it does require deliberate design. Ambiguity around who controls off-chain assets becomes a governance risk once a system reaches scale. ## Legal entities at the edges The panel does not advocate a single legal structure for DAOs. Instead, it outlines a spectrum of approaches. Wrapping a DAO itself in a legal entity can provide clarity and protection, but it may also introduce obligations that conflict with permissionless participation. Egorov raises a pointed concern about what happens when authorities demand identity information about anonymous governance participants with significant voting power. An alternative approach places legal entities at the edges. Foundations or trusts can manage specific functions such as intellectual property or security operations, with rules that require consultation with the DAO. In this model, the core governance system remains self-enforcing, while legal structures handle unavoidable real-world interactions. The shared view is cautious. The more a DAO is fully wrapped in traditional legal frameworks, the more it inherits assumptions that may be incompatible with decentralized governance. ## Immutability, upgradability, and governance choice One of the clearest disagreements in the discussion concerns whether core protocol rules should be immutable. Egorov expresses a preference for immutability, particularly in token economics. If supply cannot be changed, governance cannot inflate away problems or rationalize extraction. Expectations remain clear. Zeller argues for upgradability. He notes that no team can foresee all future conditions, and rigid systems can fail when mistakes or external pressures arise. He points to Aave’s token migration as an example where modifying supply through transparent governance enabled long-term sustainability. Both agree that governance actions are never free of consequences. Markets respond, reputations adjust, and abuse carries costs. The difference is not about right or wrong, but about constitutional design. ## Applying lessons to new systems Egorov briefly references how these lessons informed newer projects such as YieldBasis. Two adjustments stand out. Locked governance positions should allow limited flexibility for operational safety, such as in cases of wallet compromise. Governance mechanisms should also avoid encouraging excessive concentration of voting power in intermediaries whose incentives may diverge from those of individual participants. These are refinements rather than rejections of earlier designs. They reflect how second-order effects become clearer as systems mature. ## The unresolved future of DAOs Toward the end of the podcast, the conversation turns to the long-term outlook. Shapiro is clear that DAOs are not fully safe. Their structure challenges traditional enforcement and governance models, which creates ongoing tension with states and regulators. While much attention has focused on securities law, taxation may become a more significant pressure point as DAOs generate meaningful revenue. Despite this, all three speakers remain cautiously optimistic. DAOs offer a distinct institutional model based on transparency, rule-bound coordination, and credible neutrality. In domains where trust minimization matters, this model has already proven competitive. --- ## Conclusion *DAO on Trial: Code vs Humans* does not deliver a verdict in the conventional sense. Instead, it shows that DAOs have entered an institutional phase where design choices matter more than slogans. The strongest DAOs are not those that deny the existence of law or human incentives. They are those that clearly define what is governed by code, how off-chain realities are handled, and where authority ultimately resides. The trial is ongoing, and its outcome will be shaped not by theory, but by the governance decisions these systems make in practice. For more, dive in and listen ### Curve Best Yields & Key Metrics | Week 6, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-6-2026/ Last updated: 2026-02-05T14:57:07.000Z ## Market Overview There's no point sugar-coating it, it has been a brutal week. Many thanks to everyone who's still here ❤️ Curve's TVL is down 15.9%, currently at $2.05B. This is slightly better than the wider DeFi ecosystem which saw a 17.1% drawdown. The peg of crvUSD was tested, and for very brief periods it did fall to around $0.99\. It's clear the systems will need some optimizing moving forward ([tweet from mich](https://x.com/newmichwill/status/2019355461489664275)). As of writing, the price is sitting around $0.993, and is recovering. There's also some great yield available in the [PYUSD/crvUSD pool](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) with **15.1% APR**. As always, there are some great yields available; see below for the highlighted opportunities and weekly metrics. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $23.7M | 15.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) | $30.5M | 11.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $12M | 7.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $25.4M | 5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $27.6M | 4.8% | ### Other Top USD Yields *All yields have been calculated as if markets have at least $100k TVL* | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/avalanche.png "Avalanche") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-avalanche/0xcc18b41a0f63c67f17f23388c848aec67b583422.png)xpUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-avalanche/0x580d5e1399157fd0d58218b7a514b60974f2ab01.png)yUTY](https://curve.finance/dex/#/avalanche/pools/factory-stable-ng-28/deposit) | Pool | 90.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | Llamalend | 31.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-648/deposit) | Pool | 28.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-650/deposit) | Pool | 23.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-251/deposit) | Pool | 18.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/lend/#/fraxtal/markets/one-way-market-0/vault/deposit) | Llamalend | 13.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | Pool | 13.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/lend/#/fraxtal/markets/one-way-market-1/vault/deposit) | Llamalend | 12.8% | ### Top BTC & ETH Yields *All yields have been calculated as if markets have at least $100k TVL* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 18.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 13.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 11.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 7.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xb0f70c0bd6fd87dbeb7c10dc692a2a6106817072.png)BTC.b](https://curve.finance/dex/monad/pools/factory-stable-ng-8/deposit) | BTC | 4.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://curve.finance/dex/#/optimism/pools/factory-v2-63/deposit) | BTC | 1.5% | ### Other Top Yields *All yields have been calculated as if markets have at least $100k TVL* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfcc5c47be19d06bf83eb04298b026f81069ff65b.png)yCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-280/deposit) | CRV | 11.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 10.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 8.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 5.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 1.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.3% | ## Weekly Metrics ### crvUSD & scrvUSD The crvUSD minted has been hit hard. The peg was pressured by YieldBasis pools selling crvUSD as the BTC price dropped (actual stablecoin demand is causing issues). Because of this, the system is trying to stabilize itself by firstly emptying the PegKeepers and now raising the interest rates. The concern is not that crvUSD will death spiral; YieldBasis alone cannot cause a death spiral because of pool dynamics. It's just unknown how long it will take for the peg to completely recover. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $37.2M | \-56.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 11.7% | +8.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 82.0% | +60.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.993 | \-$0.0064 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 37.8% | +34.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $0 | \-$38.2M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $2.25k | \-$562 | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics are below. It was a tough week for borrowing and lending llamas. | Metric | Value | Change | | ---------------- | ------ | ------- | | 🦙 Llamalend TVL | $132M | \-43.3% | | 🦙 Supplied | $66.9M | \-19.4% | | 🦙 Borrowed | $76M | \-50.5% | | 🦙 Collateral | $104M | \-52.5% | | 🦙 Loans | 1117 | \-196 | ### DEX Pools are always positive to look at during volatile weeks. While TVL did come down, it was an absolutely huge week for volumes, swaps, and fees paid. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.92B | \-9.0% | | 🔄 Volume | $3.65B | +115.1% | | 🔄 Swaps | 700k | +61.6% | | 🔄 Total Fees | $688k | +187.8% | ### DAO The great news is the veCRV distribution. Because of the fee revenue and crvUSD borrowing fees increasing, the veCRV distribution was almost double last week's stellar week. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.47B | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 857M | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 788M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $475k | +91.0% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $662k (2.22M CRV) | \-15.9% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.922% | \-0.005% | ## Top Stableswap Pools The DAI/USDC/USDT pool made over $45k this week, all of which flows straight to the DAO. The crvUSD pools also did huge volumes because of the stress test on the peg. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $459.2M | $4.7k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $300.5M | $45.1k | | 3 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $289.5M | $29.0k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $212.0M | $21.2k | | 5 | +12 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $172.9M | $69.1k | | 6 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $136.0M | $28.0k | | 7 | +9 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $134.0M | $13.4k | | 8 | +22 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-251/deposit) | $121.6M | $48.6k | | 9 | +20 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-35/deposit) | $110.2M | $14.1k | | 10 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $109.6M | $3.3k | ## Top Cryptoswap Pools There were some huge fees and volumes through all the Tricrypto pools. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | -- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $54.3M | $32.9k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $41.9M | $27.8k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $25.1M | $56.7k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $19.4M | $15.2k | | 5 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | $2.9M | $9.0k | | 6 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-2/deposit) | $2.9M | $8.9k | ## DEX Winners & Losers ### Fees Winners & Losers [Metronome](https://metronome.io/)'s msETH and msUSD won the week for an increase in fees. There were no huge declines in fees though, with the loser only reducing their weekly fees by $4k. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $173M | $69.1k | +$64.5k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-251/deposit) | $122M | $48.6k | +$46.1k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $25.1M | $56.7k | +$40.2k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $459M | $4.67k | \-$1.77k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $32.2M | $3.28k | \-$3.29k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-628/deposit) | $1.83M | $1.88k | \-$4.34k | ### Volume Winners & Losers crvUSD topped the week for added volume week on week, with the 3pool being a close 2nd. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $290M | $29k | +$217M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $300M | $45.1k | +$209M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $173M | $69.1k | +$161M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $13.7M | $1.39k | \-$13.8M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $32.2M | $3.28k | \-$28.7M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $459M | $4.67k | \-$152M | ### TVL Winners & Losers The AUSD pool came from nothing and increased to $25M TVL, winning the week for added TVL, with the PYUSD/crvUSD pool in second with it earning currently over 15% yield. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x00000000efe302beaa2b3e6e1b18d08d69a9012a.png)AUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-225/deposit) | $25M | +$25M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $23.7M | +$21.9M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $34.1M | +$1.74M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $51.4M | \-$21.4M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $25.4M | \-$36M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $91.5M | \-$39M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers It was a rough week for crvUSD minting markets unfortunately. The increase in borrowing rates fulfilled their role and forced many borrowers to repay their loans, creating a large reduction in crvUSD supply. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $331k | $150k | \-$916 | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $327k | $153k | \-$30.5k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $72.6k | $43.6k | \-$113k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $4.54M | $2.41M | \-$11.7M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $5.87M | $4.24M | \-$15M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $33.9M | $20.5M | \-$16.5M | ### Lend Markets - Borrowing Winners & Losers The asdCRV market saw some strong borrowing increases, but many markets saw large reductions. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $492k | $403k | +$219k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $707k | $546k | +$17.2k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x95f19b19aff698169a1a0bbc28a2e47b14cb9a86.png)ycvxCRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-35/vault/deposit) | $31.5k | $12.9k | +$8.02k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $1.4M | $284k | \-$5.95M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $24M | $11M | \-$9.79M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $23.8M | $13.2M | \-$13.9M | ### Lend Markets - Supplying Winners & Losers The asdCRV market also saw some strong increases in supplied crvUSD, but many markets also saw outflows due to the pressure on the peg forcing repayments and a supply reduction of crvUSD. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $492k | $403k | +$202k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/lend/#/fraxtal/markets/one-way-market-0/vault/deposit) | $719k | $543k | +$55.6k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $707k | $546k | +$46.8k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $24M | $11M | \-$3.52M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $1.4M | $284k | \-$5.12M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $23.8M | $13.2M | \-$6.64M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Monthly Recap January, 2026 URL: https://news.curve.finance/curve-monthly-recap-january-2026/ Last updated: 2026-02-02T16:27:50.000Z ### 2026 Backlook A lot happened across the Curve ecosystem in 2025\. For a full overview of last year’s milestones and developments, take a look here: [Curve: 2025 Year in Review2025 was a year of consolidation and quiet expansion for Curve, with heads-down building focused on strengthening liquidity and lending infrastructure while preparing for a new phase of growth in 2026.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-47.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/Frame-1171274442--2-.png)](https://news.curve.finance/curve-2025-year-in-review/) ### crvUSD Borrow Rate Changes A major change landed in early January with an update to the crvUSD monetary policy. The new policy smooths borrow rates by shifting short-term peg defense primarily to PegKeepers and applying rate smoothing over time. This significantly reduces abrupt rate movements caused by PegKeeper activity, while preserving strong incentives to maintain the peg. Backtesting shows a much more stable rate profile under the new model: ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/02/ema_comparison-1.webp) It is important to note that borrow rate swings can still occur in response to crvUSD price movements. If the price of crvUSD trades below peg and PegKeeper liquidity is depleted, the system may need to raise borrow rates to incentivize borrowers to buy and repay crvUSD. This dynamic was observed in late January and early February; a separate analysis will follow. Read the full breakdown here: [Smoothing crvUSD Borrow RatesCurve DAO has voted in an update to crvUSD’s monetary policy that smooths borrow rates for minting crvUSD. By shifting short-term peg defense to PegKeepers and applying rate smoothing over time, the update reduces abrupt rate movements while preserving peg incentives.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-48.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/Frame-1171274781.png)](https://news.curve.finance/smoothing-crvusd-borrow-rates/) ### FXSwap Curve officially introduced **FXSwap**, a new AMM algorithm designed for uncorrelated but low-volatility asset pairs (such as Forex pairs `USD` and `EURC`). It leverages the mathematical efficiency of [Stableswap](https://knowledge.curve.finance/protocol/pool/understanding-stableswap) within the dynamic rebalancing framework of [Cryptoswap](https://knowledge.curve.finance/protocol/pool/understanding-cryptoswap), along with some new innovations. 📘 Learn more about FXSwap here: FXSwap is currently used by YieldBasis pools and had been running in several other pilot pools like ZCHF<>crvUSD for months prior to its formal introduction. The introduction was accompanied by in-depth research from Pangea comparing its performance to other concentrated liquidity AMMs, highlighting FXSwap’s strong capital efficiency and robustness. [FXSwapFXSwap is Curve’s new AMM algorithm for trading volatile and FX-style asset pairs with passive liquidity. Pange analyzed its performance and found that FXSwap delivers strong execution for large trades compared to Uniswap V3.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-49.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/Frame-1171274444.png)](https://news.curve.finance/fxswap/) ### Continuous Curve Frontend Improvements Frontend development continued at a steady pace, with a strong focus on performance improvements and reducing technical debt. This work lays the foundation for the upcoming **Llamalend V2** launch and enables faster iteration going forward. Users will soon be able to test the new UI/UX, and feedback will be especially valuable during this phase. For users who want early access, Curve has shipped a **Beta UI** where new features are tested before reaching production. To enable it, scroll to the footer of the Curve interface and click the 🦙 icon on the right. Found an issue or have suggestions? Please submit feedback here: [UI/UX Feedback](https://www.notion.so/14c599aae06480008a32fdb726bb7d1a?pvs=21) ### crvUSD Optimizer Vault curated by LlamaRisk LlamaRisk’s curated crvUSD optimizer vault, built in partnership with IPOR and StakeDAO, gained strong traction throughout January. After quickly reaching its initial 1M crvUSD deposit cap, the vault was expanded to 2M. It offers a user-friendly way to put crvUSD to work by allocating capital across optimized strategies, with rewards automatically compounded. Check out the vault here: [IPOR Protocol - The Earn Button of Web3Automating sophisticated DeFi Earn strategies and optimized yield products.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/apple-touch-icon-6.png)The Earn Button of Web3IPOR Labs![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/fusion-by-ipor.jpg)](https://app.ipor.io/fusion/ethereum/0xbfa9d6ec0e04b6691fcae5f8b48838c3918ec117) ### Liquity Airdrop for Curve LPs Liquity’s V2 fork on Flare Networks is allocating **2.75% of its token supply** to BOLD users, including Curve liquidity providers. The incentive program begins on **January 21st** and runs through **Q4 2026**, rewarding long-term participation. > A $850k airdrop for Liquity V2 users 🏦[@enosys\_global](https://twitter.com/enosys%5Fglobal?ref%5Fsrc=twsrc%5Etfw), the Liquity V2 fork on [@FlareNetworks](https://twitter.com/FlareNetworks?ref%5Fsrc=twsrc%5Etfw), is allocating 412.5 APS (2.75% of supply) to BOLD users. > > At \~$2k / APS, that is \~$850,000 ‼️ of value flowing to [$BOLD](https://twitter.com/search?q=%24BOLD&src=ctag&ref%5Fsrc=twsrc%5Etfw) LPs. > > This airdrop alone adds \~ 3% APR for BOLD. > > 10+ airdrops… [pic.twitter.com/BP0A1ZbGJv](https://t.co/BP0A1ZbGJv) > > — Liquity (@LiquityProtocol) [January 19, 2026](https://twitter.com/LiquityProtocol/status/2013269095827788024?ref%5Fsrc=twsrc%5Etfw) ### YieldBasis Hybrid Vaults **\> Note: Hybrid Vaults are still under audit and not yet live*.* YieldBasis pools have been filling rapidly since launch, with each TVL cap increase reaching capacity within minutes. Demand for impermanent-loss-free yield significantly exceeds what the protocol can safely accept today. To protect crvUSD stability and ensure safe use of Curve infrastructure, YieldBasis currently limits total TVL. This creates a scaling challenge: users want to deposit more BTC or ETH, but the protocol requires additional crvUSD support to safely expand capacity. **Hybrid Vaults** aim to solve this by directly linking TVL onboarding with crvUSD peg support. By depositing crvUSD or scrvUSD alongside BTC or ETH, users contribute to peg stability while unlocking higher personal deposit caps. In practice, this mechanism: - increases crvUSD demand and circulation - creates buy pressure on crvUSD - encourages PegKeepers to fill - lowers borrow rates for minting crvUSD - supports controlled expansion of crvUSD supply Technical details can be found here: [GitHub - yield-basis/yb-core at hybrid\_vaultsAutoleverage AMM and leveraged liquidity token. Contribute to yield-basis/yb-core development by creating an account on GitHub.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/pinned-octocat-093da3e6fa40-5.svg)GitHubyield-basis![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/yb-core)](https://github.com/yield-basis/yb-core/tree/hybrid%5Fvaults) ### Curve integration with YieldXYZ Curve has been integrated into the YieldXYZ API, providing direct access to Curve yields across nine networks. The integration includes: - Savings-crvUSD (scrvUSD) - Llamalend markets - Curve LP yields YieldXYZ returns full pool metadata to users, including APR, TVL, volume, fees, and LP token pricing, making this a highly convenient aggregation layer. > Our clients have access to [@curvefinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw) yields directly through the [@yield\_xyz](https://twitter.com/yield%5Fxyz?ref%5Fsrc=twsrc%5Etfw) API. Yield opportunities include: > > → Savings [$crvUSD](https://twitter.com/search?q=%24crvUSD&src=ctag&ref%5Fsrc=twsrc%5Etfw) vault > → 41 Llamalend market yields > → LP yields across 9 networks > > Here’s how it works (1/5) 🧵 [pic.twitter.com/wCfvmmRznp](https://t.co/wCfvmmRznp) > > — Yield.xyz (@yield\_xyz) [January 13, 2026](https://twitter.com/yield%5Fxyz/status/2011111879968501949?ref%5Fsrc=twsrc%5Etfw) ## Trustless Force January also highlighted **Trustless Force**, a community-driven initiative focused on advancing trustless solutions on Ethereum. Built around the belief that **code should replace trust wherever possible**, the initiative brings together users, builders, and advocates to increase awareness, adoption, and usability of trust-minimized systems. The effort is being shaped alongside ecosystem participants including Curve Finance, [protocol\_fx](https://x.com/protocol%5Ffx), and [Liquity](https://x.com/LiquityProtocol). Curve BD Martin Krung recently joined a livestream discussion to explore the initiative’s goals and broader implications for Ethereum-native finance. > You trust code. > You prefer trustless solutions. > You like value-aligned folks. > > Be part of the Trustless Force. > Make a difference. > Show up. > > Next Wed., 3pm CET on [@leviathan\_news](https://twitter.com/leviathan%5Fnews?ref%5Fsrc=twsrc%5Etfw) > > Join the Force with [@CurveFinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw), [@protocol\_fx](https://twitter.com/protocol%5Ffx?ref%5Fsrc=twsrc%5Etfw) and [@LiquityProtocol](https://twitter.com/LiquityProtocol?ref%5Fsrc=twsrc%5Etfw). [pic.twitter.com/5sHUdOeNO5](https://t.co/5sHUdOeNO5) > > — Trustless Force (@TrustlessForce) [January 23, 2026](https://twitter.com/TrustlessForce/status/2014753487943332165?ref%5Fsrc=twsrc%5Etfw) ## LlamaRisk Progress Update LlamaRisk published a progress update covering its work from July to December 2025, outlining continued efforts as a core service provider to Curve DAO. > Working with [@CurveFinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw) since 2021\. Here’s our latest update on our progress. 🦙 > > We focused on proactive risk management, [$crvUSD](https://twitter.com/search?q=%24crvUSD&src=ctag&ref%5Fsrc=twsrc%5Etfw) stability, oracle upgrades, governance, YieldBasis research & market optimization, strengthening Curve’s resilience, and LlamaLend v2 prep.… [pic.twitter.com/eQcmpNFZV8](https://t.co/eQcmpNFZV8) > > — LlamaRisk (@LlamaRisk) [January 12, 2026](https://twitter.com/LlamaRisk/status/2010787250846474471?ref%5Fsrc=twsrc%5Etfw) Over the period, LlamaRisk focused on proactive risk management during volatile market conditions, preparation for **Llamalend v2**, and ongoing optimization of **crvUSD stability**. This included monetary policy research, PegKeeper management, oracle upgrades, and the introduction of a structured framework for safely deprecating underperforming markets. Key highlights included securing a **250k OP grant** to support Llamalend v2 incentives, navigating the October flash crash and multiple depeg events with minimal protocol impact, strengthening oracle infrastructure across lending markets, and submitting over **two dozen governance proposals** spanning Llamalend, crvUSD, and AMM operations. Llamarisk also made progress on new collateral research (including Pendle and Spectra PTs), debt ceiling methodologies, and tooling that will enable more continuous, data-driven risk management as Curve’s lending infrastructure scales into 2026. --- ### Curve Best Yields & Key Metrics | Week 5, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-5-2026/ Last updated: 2026-01-29T14:16:44.000Z ## Market Overview It’s been another choppy week for the market, with prices moving up, sideways, and back down again. All we can do is keep building and act in good faith, and over time the market should hopefully recognize the value of DeFi, and especially Curve. Total value locked (TVL) is down 1.8% this week to $2.438B. As always, there are plenty of attractive yields and opportunities available across Curve. See the highlighted yields below, along with this week’s metrics. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $30.4M | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $13M | 4.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $27.5M | 4.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $32.4M | 3.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $61.5M | 3.7% | ### Other Top USD Yields *All yields have been calculated as if markets have at least $100k TVL* | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/avalanche.png "Avalanche") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-avalanche/0xcc18b41a0f63c67f17f23388c848aec67b583422.png)xpUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-avalanche/0x580d5e1399157fd0d58218b7a514b60974f2ab01.png)yUTY](https://curve.finance/dex/#/avalanche/pools/factory-stable-ng-28/deposit) | Pool | 41.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-650/deposit) | Pool | 19.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/lend/#/fraxtal/markets/one-way-market-0/vault/deposit) | Llamalend | 17.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | Llamalend | 15.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-648/deposit) | Pool | 15.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 13.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/lend/#/fraxtal/markets/one-way-market-1/vault/deposit) | Llamalend | 12.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | Pool | 12.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xde17a000ba631c5d7c2bd9fb692efea52d90dee2.png)USDN](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-354/deposit) | Pool | 12.3% | ### Top BTC & ETH Yields *All yields have been calculated as if markets have at least $100k TVL* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 7.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 7.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x85b78aca6deae198fbf201c82daf6ca21942acc6.png)ARM-WETH-stETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-641/deposit) | ETH | 5.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 4.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x972966bcc17f7d818de4f27dc146ef539c231bdf.png)DBIT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-581/deposit) | BTC | 4.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xb0f70c0bd6fd87dbeb7c10dc692a2a6106817072.png)BTC.b](https://curve.finance/dex/monad/pools/factory-stable-ng-8/deposit) | BTC | 4.5% | ### Other Top Yields *All yields have been calculated as if markets have at least $100k TVL* | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV](https://www.curve.finance/dex/sonic/pools/factory-stable-ng-2/deposit) | CRV | 15.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfcc5c47be19d06bf83eb04298b026f81069ff65b.png)yCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-280/deposit) | CRV | 11.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 7.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 5.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 2.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3231cb76718cdef2155fc47b5286d82e6eda273f.png)EURe](https://curve.finance/dex/#/ethereum/pools/factory-v2-231/deposit) | EUR | 0.6% | ## Weekly Metrics ### crvUSD & scrvUSD Following a volatile week and a modest pullback in ETH and BTC prices, some more conservative users closed positions, resulting in a reduction in total crvUSD minted. Meanwhile, scrvUSD yield continued to rise and now sits above the yield on 1-year US government bonds. PegKeepers also continued to generate steady profits for the DAO. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $84.7M | \-6.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 3.5% | +1.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 21.3% | +1.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9994 | \-$0.0003 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 3.2% | +0.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $38.2M | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $2.81k | \-$152 | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) saw a reduction in borrowed amounts this week, largely driven by declining collateral values. Despite this, the TVL of supplied (lent) assets increased, along with the total number of active loans. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $234M | \-3.8% | | 🦙 Supplied | $83M | +0.9% | | 🦙 Borrowed | $153M | \-2.9% | | 🦙 Collateral | $219M | \-3.7% | | 🦙 Loans | 1313 | +23 | ### DEX Swap counts and volumes were broadly similar to last week. However, a larger share of activity occurred in lower-fee pools, resulting in total fees paid by swappers being 38% lower than the previous week. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.11B | \-0.1% | | 🔄 Volume | $1.70B | +1.8% | | 🔄 Swaps | 433k | \-5.0% | | 🔄 Total Fees | $239k | \-38.4% | ### DAO The DAO recorded a sizeable distribution this week. DEX fees are collected on Mondays, then swapped and forwarded over the following two days, with distributions paid on Thursdays. Strong fee generation earlier in the prior week means some fees from nearly two weeks ago are being distributed now. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.47B | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 856M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 789M | \-0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $249k | +102.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $787k (2.22M CRV) | \-12.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.927% | \-0.004% | ## Top Stableswap Pools PYUSD pools were in particularly high demand this week, alongside USDai and the newly launched USDG stablecoin. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $611.5M | $6.4k | | 2 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $91.6M | $13.7k | | 3 | +9 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $88.5M | $18.1k | | 4 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $73.0M | $7.3k | | 5 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $72.7M | $7.3k | | 6 | +37 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $60.9M | $6.6k | | 7 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $50.5M | $3.1k | | 8 | \-5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $39.8M | $1.2k | | 9 | +11 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $27.5M | $2.8k | | 10 | +9 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $25.0M | $2.6k | ## Top Cryptoswap Pools There was only minor reshuffling among the top Cryptoswap pools this week, with the CRV Tricrypto pool falling two positions. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $28.2M | $12.3k | | 2 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $23.3M | $10.3k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $13.4M | $16.5k | | 4 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $12.9M | $15.7k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://curve.finance/dex/#/base/pools/factory-crypto-1/deposit) | $3.6M | $1.1k | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $2.7M | $9.5k | ## DEX Winners & Losers ### Fees Winners & Losers RLUSD recorded the largest increase in fees this week. The MIM and DUSD pools saw the steepest declines, which was expected following last week’s oracle misconfiguration affecting DUSD. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $88.5M | $18.1k | +$12.5k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $12.9M | $15.7k | +$7.99k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $60.9M | $6.57k | +$6.13k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $13M | $1.3k | \-$6.2k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1e33e98af620f1d563fcd3cfd3c75ace841204ef.png)DUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-580/deposit) | $1.6M | $214 | \-$48k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3.png)MIM![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/mim/deposit) | $238k | $95.3 | \-$111k | ### Volume Winners & Losers PYUSD was the most in-demand stablecoin this week, adding a substantial $471M in weekly volume. RLUSD also performed strongly, more than tripling its volume compared to last week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $612M | $6.45k | +$415M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $88.5M | $18.1k | +$61M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $60.9M | $6.57k | +$56.6M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $14.4M | $328 | \-$73.8M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $39.8M | $1.16k | \-$143M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3.png)MIM![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/mim/deposit) | $238k | $95.3 | \-$277M | ### TVL Winners & Losers PYUSD once again led the week, with TVL in the PYUSD/USDC pool nearly doubling. pmUSD pools also continued to steadily attract new liquidity. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $32.3M | +$14.4M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $73.7M | +$1.99M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $9.72M | +$1.97M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6440f144b7e50d6a8439336510312d2f54beb01d.png)BOLD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-455/deposit) | $4.59M | \-$3.88M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $29.8M | \-$6.96M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-628/deposit) | $11M | \-$8.65M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers Following last week’s minting market update, wstETH has seen strong demand. Users appear to be rotating away from vanilla WETH into ETH staking derivatives, allowing them to earn yield while borrowing. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $23.6M | $14.1M | +$5.36M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $345k | $184k | +$28.5k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $10.7M | $7.18M | +$24.4k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $29.8M | $19.3M | \-$858k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $3.69M | $2.4M | \-$3.46M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $66.3M | $36.9M | \-$6.8M | ### Lend Markets - Borrowing Winners & Losers sreUSD remained in high demand, accounting for over 8% of new borrows this week. The asdCRV market also performed well, with borrowing increasing by more than 64%. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $27.5M | $20.8M | +$1.66M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $30.4M | $27.1M | +$217k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $291k | $185k | +$72.4k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.15M | $3.27M | \-$122k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $814k | $538k | \-$181k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $6.52M | $6.23M | \-$305k | ### Lend Markets - Supplying Winners & Losers sreUSD also led the week in new supply, growing by over 13%. The asdCRV market similarly had a strong week, with supplied liquidity increasing by 37%. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $27.5M | $20.8M | +$3.19M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $291k | $185k | +$78.9k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/lend/#/fraxtal/markets/one-way-market-1/vault/deposit) | $208k | $159k | +$38.7k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.15M | $3.27M | \-$184k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $6.52M | $6.23M | \-$390k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $30.4M | $27.1M | \-$1.61M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Smoothing crvUSD Borrow Rates URL: https://news.curve.finance/smoothing-crvusd-borrow-rates/ Last updated: 2026-01-22T15:17:50.000Z **Curve DAO has** [**voted in an update to crvUSD’s monetary policy**](https://www.curve.finance/dao/ethereum/proposals/1308-ownership) **to introduce smoother and more predictable borrow rates.** This update changes how peg-defense is reflected in interest rates, aiming to reduce sharp short-term rate volatility. **What is changing:** - **Updated Peg Defense:** PegKeepers remain the primary short-term defense for the crvUSD peg, while interest rates now react over longer timeframes. - **Slower Rate Changes:** Because interest rates are no longer the first line of defense, they will adjust more gradually, giving borrowers more time to react. - **Rate Alignment:** Interest rates for wstETH and sfrxETH have been adjusted (lowered by 2% flat) to better align with broader market conditions. Overall, these changes act to minimize short-term borrow rate fluctuations while preserving the core mechanisms that peg crvUSD to $1. See the chart below for how interest rates would have looked for 2025 with this new policy vs. the old policy. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/01/ema_comparison-1.png) **The chart compares historical mint borrow rates with and without PegKeeper debt smoothing, illustrating how short-term rate fluctuations are reduced under the new policy. The illustration focuses on the smoothing effect and does not incorporate the baseline rate parameter adjustment.* ## Borrow rates — short refresher For a full explanation of how crvUSD mint borrow rates are calculated and which components influence them, see the earlier deep dive: [Inside crvUSD Borrow RateLearn how crvUSD borrow rates work, why volatility increased in recent months, and what the latest Curve DAO changes mean for a smoother, more predictable borrowing experience.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-46.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/New-crvUSD-mint-markets-1-1.png)](https://news.curve.finance/inside-crvusd-borrow-rate/) 💡 TL;DR: crvUSD borrow rates for minting crvUSD adjust dynamically based on: (1) the market price of crvUSD relative to $1 and (2) the size of PegKeeper debt relative to total system debt. ## **Why rates moved sharply — and what changed** Recent rate movements were primarily driven by changes in **PegKeeper activity**. As new integrations such as **YieldBasis** expanded crvUSD supply outside the traditional loop, PegKeeper balances began changing more frequently and in larger increments. Because PegKeeper debt fed directly into the borrow-rate formula, these short-term peg-defense actions were immediately reflected in mint borrow rates. *The newly approved monetary policy changes how this impact is reflected in borrow rates.* Instead of passing PegKeeper balance changes straight through to the borrow rate, the policy now **smooths PegKeeper debt over time using an exponential moving average (EMA)**. PegKeeper actions themselves remain unchanged and continue to defend the peg in real time, but their influence on borrow rates is applied more gradually. The EMA window is currently set to **9 days**, a configuration chosen to significantly reduce short-term rate fluctuations while maintaining meaningful responsiveness to underlying system conditions. This update is based on detailed analysis by [**LlamaRisk**](https://www.llamarisk.com/), which examined historical borrow-rate behaviour, PegKeeper dynamics, and borrower responses under different smoothing configurations. Their **research showed** that applying an EMA to PegKeeper debt **significantly reduces short-term rate fluctuations while preserving the stabilization** that support crvUSD’s peg. [Investigation of EMA Smoothing Debt Fraction on the crvUSD Monetary PolicySummary Recent governance actions, primarily the increased exposure of crvUSD to YieldBasis, have materially changed the crvUSD system: PegKeeper capacity has expanded, mint-market supply dynamics have shifted, and rate volatility has increased as a by-product of more active peg defense. This proposal evaluates a strategy for reducing rate volatility when minting crvUSD. This involves smoothing the PegKeeper debt fraction portion of the Monetary Policy calculation using an exponential moving av…![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/8b124f7d448c2829ce00fa7212028ee695140a1e_2_32x32-10.svg)Curve.finance GovernanceLlamaRisk![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/2c6acf13541bd13f21a5b28a95470d3e75e43e52_2_1024x557-1.png)](https://gov.curve.finance/t/investigation-of-ema-smoothing-debt-fraction-on-the-crvusd-monetary-policy/10968) ## Deep dive: LlamaRisk’s analysis of borrow-rate smoothing Lets dive in a bit deeper: The new monetary policy does **not** smooth the entire crvUSD borrow rate. Instead, EMA smoothing is applied **specifically to the PegKeeper debt fraction component** of the rate calculation. This is the part that reflects how large PegKeeper debt is relative to total crvUSD debt, and it was identified as the dominant driver of short-term rate variability. Crucially, the **price-based component of the policy remains unchanged**. Borrow rates still respond immediately to crvUSD trading above or below $1\. This preserves the incentive-driven mechanism that directly supports the peg. This design ensures that: - Short-term PegKeeper balance changes no longer cause abrupt rate shifts - Borrow rates remain responsive to meaningful price deviations - Mint-market incentives continue to play an active role in peg stabilization LlamaRisk’s analysis also examined how smoothing affects the **strength of borrower-facing rate signals**. While EMA smoothing significantly reduces short-term volatility, it also dampens how sharply rates can rise during periods of stress. To offset this effect, the monetary policy includes an adjustment to `**rate0**`, which is the baseline level of the mint borrow rate. Increasing `rate0` shifts the entire smoothed rate curve upward. This ensures that borrow rates can still reach levels that historically encouraged repayment and deleveraging, even with PegKeeper debt smoothed over time. In this design, EMA smoothing and the `rate0` adjustment work together. Smoothing improves predictability, while a higher baseline preserves the effectiveness of borrower incentives and the mint market’s contribution to peg defense. The decision to smooth only the PegKeeper debt fraction and to pair this change with a calibrated `rate0` adjustment reflects the findings of the **LlamaRisk** analysis. Their work showed that selective smoothing delivers a more predictable borrowing experience without materially weakening peg defense. --- Ready to mint some crvUSD? [To the markets! ](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance&type=Mint) --- ### Curve Best Yields & Key Metrics | Week 4, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-4-2026/ Last updated: 2026-01-22T13:14:24.000Z ## Market Overview The Crypto markets were down this week, however Curve held up well. The broader DeFi sector was down 6.7% while Curve declined 5.4%, bringing total TVL to $2.486B. The big news of the week is that interest rates on crvUSD are about to get A LOT more smooth and stable, due to a [interest rate formula update](https://gov.curve.finance/t/investigation-of-ema-smoothing-debt-fraction-on-the-crvusd-monetary-policy/10968/3). This change will also make it cheaper to borrow against staked ETH assets (wstETH, sfrxETH, weETH). As always, there's some juicy yields available on Curve for all types of yields. Take a look at the highlighted opportunities and weekly metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $24.4M | 5.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $13.4M | 4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $32.1M | 4.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $33M | 3.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $65.2M | 3.5% | ### Other Top USD Yields [infiniFi](https://infinifi.xyz/)'s iUSD leads the week, with [Origin Protocol](https://www.originprotocol.com/)'s OUSD in close second. [dTRINITY](https://www.dtrinity.org/)'s recent launch of dUSD & sdUSD on Ethereum, after previously being available only on Sonic and Fraxtal, rounds out a strong set of USD-denominated yields. | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x48f9e38f3070ad8945dfeae3fa70987722e3d89c.png)iUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-643/deposit) | Pool | 34.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-584/deposit) | Pool | 30.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7cb20517776636ed76b68edb3d99dcce356abf02.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-648/deposit) | Pool | 29.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | Pool | 16.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | Pool | 16.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x788d96f655735f52c676a133f4dfc53cec614d4a.png)dUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-45/deposit) | Pool | 14.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 14.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 13.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x58acc2600835211dcb5847c5fa422791fd492409.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-67/deposit) | Pool | 10.8% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 11.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x85b78aca6deae198fbf201c82daf6ca21942acc6.png)ARM-WETH-stETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-641/deposit) | ETH | 8.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets-base/0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.png)ETH![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://www.curve.finance/dex/base/pools/factory-crypto-1/deposit) | ETH | 7.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 6.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xb0f70c0bd6fd87dbeb7c10dc692a2a6106817072.png)BTC.b](https://curve.finance/dex/monad/pools/factory-stable-ng-8/deposit) | BTC | 3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 0.6% | ### Mixed Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 11.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 11.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 7.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 6.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 5.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 4.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3231cb76718cdef2155fc47b5286d82e6eda273f.png)EURe](https://curve.finance/dex/#/ethereum/pools/factory-v2-231/deposit) | EUR | 0.3% | ## Weekly Metrics ### crvUSD & scrvUSD Borrowing rates and total minted crvUSD remained relatively stable this week despite the broader market downturn. With the upcoming [interest rate formula change](https://www.curve.finance/dao/ethereum/proposals/1308-ownership) borrowing costs are expected to become even smoother, more predictable, and less volatile. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $90.6M | \-1.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 2.1% | \-0.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 19.9% | \-0.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9996 | \-$0.0004 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 2.8% | \-0.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $38.2M | +$2.46M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $2.96k | +$2.96k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics held up well overall. The decline in TVL was primarily driven by lower collateral values rather than large withdrawals. Borrowers appeared more conservative across markets, and as a result, total borrowed amounts declined only slightly while the number of active loans increased. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $243M | \-8.0% | | 🦙 Supplied | $82.2M | \-1.3% | | 🦙 Borrowed | $158M | \-2.4% | | 🦙 Collateral | $228M | \-8.9% | | 🦙 Loans | 1290 | +15 | ### DEX [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) activity had a strong week, with swap volumes up 34% and total fees paid by swappers increasing by nearly 50%. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.13B | +1.41% | | 🔄 Volume | $1.67B | +34.8% | | 🔄 Swaps | 456k | +17.8% | | 🔄 Total Fees | $388k | +49.6% | ### DAO DAO metrics remained steady this week. While CRV prices fell toward the end of the week, emissions did not drop significantly since they are based on the weekly average price. veCRV holders also received a higher distribution compared to the prior week. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.47B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 856M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 792M | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $123k | +9.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $901k (2.22M CRV) | \-1.0% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.931% | \-0.005% | ## Top Stableswap Pools Due to an oracle misconfiguration, the DUSD/USDC pool was exploited this week. This resulted in unusually high volumes, with over $276M traded through the linked MIM pool. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | ---- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------- | | 1 | +214 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3.png)MIM![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/mim/deposit) | $276.8M | $110.7k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $196.2M | $2.1k | | 3 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $183.3M | $2.8k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $127.8M | $19.2k | | 5 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $88.2M | $1.2k | | 6 | +17 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $74.9M | $7.5k | | 7 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $71.2M | $7.1k | | 8 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $53.5M | $7.0k | | 9 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $52.7M | $5.3k | | 10 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $52.3M | $3.0k | ## Top Cryptoswap Pools Cryptoswap pools saw some reshuffling this week. The CRV Tricrypto pool moved up several positions, while the cbETH/WETH pool on Base entered the top six. Notably, cbETH/WETH works a Cryptoswap pool despite these assets also being compatible with the newer Stableswap pool design. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $17.5M | $9.3k | | 2 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $12.6M | $7.7k | | 3 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $12.1M | $18.5k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $9.9M | $6.5k | | 5 | +33 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://curve.finance/dex/#/base/pools/factory-crypto-1/deposit) | $5.6M | $1.7k | | 6 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $4.1M | $14.6k | ## DEX Winners & Losers ### Fees Winners & Losers As an unfortunate result of the DUSD/USDC exploit, the linked MIM pool recorded the largest increase in fees for the week, with DUSD/USDC ranking second. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3.png)MIM![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/mim/deposit) | $277M | $111k | +$111k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1e33e98af620f1d563fcd3cfd3c75ace841204ef.png)DUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-580/deposit) | $48.8M | $48.2k | +$48.2k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $4.14M | $14.6k | +$9.21k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-628/deposit) | $203k | $209 | \-$2.44k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcdf7028ceab81fa0c6971208e83fa7872994bee5.png)T](https://curve.finance/dex/#/ethereum/pools/teth/deposit) | $151k | $492 | \-$2.47k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $27.5M | $5.59k | \-$8.52k | ### Volume Winners & Losers The MIM pool also led the week in added volume due to the exploit. On a more positive note, the ETH/stETH pool continues to regain traction as the Ethereum staking exit queue has increased to 48 days. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99d8a9c45b2eca8864373a26d1459e3dff1e17f3.png)MIM![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/mim/deposit) | $277M | $111k | +$277M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $74.9M | $7.49k | +$67.1M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $196M | $2.06k | +$59.3M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $12.3M | $1.25k | \-$17.5M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $4.28M | $444 | \-$19.2M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $27.5M | $5.59k | \-$39.1M | ### TVL Winners & Losers Driven by elevated incentives, the WETH/cbETH pool added the most TVL this week. pmUSD pools also saw notable inflows. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://curve.finance/dex/#/base/pools/factory-crypto-1/deposit) | $21.8M | +$15.7M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | $7.29M | +$1.94M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | $7.74M | +$1.7M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1e33e98af620f1d563fcd3cfd3c75ace841204ef.png)DUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-580/deposit) | $1.18M | \-$15.4M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $133M | \-$15.9M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-252/deposit) | $205M | \-$16.1M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers The cbBTC market saw strong demand this week, suggesting a rotation of capital from WBTC into cbBTC. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $8.18M | $5.86M | +$3.47M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $6.1M | $4.26M | +$146k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $10.8M | $7.16M | +$77.8k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $274k | $155k | \-$999k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $32.4M | $20.1M | \-$1.13M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $76.1M | $43.7M | \-$3.18M | ### Lend Markets - Borrowing Winners & Losers Most lending markets remained relatively stable through the week, though some outflows were observed, primarily from staked stablecoin markets. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $32.1M | $26.9M | +$29.8k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.33M | $3.39M | +$17.9k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $851k | $718k | +$2.26k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $24.4M | $19.2M | \-$349k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $5.4M | $4.68M | \-$672k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $6.91M | $6.54M | \-$1.09M | ### Lend Markets - Supplying Winners & Losers sreUSD stood out this week, with increased supplied amounts alongside a slight decrease in borrowing. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $24.4M | $19.2M | +$1.23M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.33M | $3.39M | +$159k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $851k | $718k | +$52k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $32.1M | $26.9M | \-$527k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $5.4M | $4.68M | \-$750k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $6.91M | $6.54M | \-$1.14M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 3, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-3-2026/ Last updated: 2026-01-16T00:50:30.000Z ## Market Overview Welcome to another week of yields and metrics! It’s been a stabilizing but productive week for Curve, with **TVL up 2.0% to $2.628B**. The crvUSD minted supply also increased, alongside several other key metrics. See all the highlighted yield opportunities and metrics available below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $32.6M | 4.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $13.4M | 4.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $23.1M | 4.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $37.9M | 3.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $39.1M | 3.7% | ### Other Top USD Yields [RAAC](https://raac.io/)'s pmUSD has dominated the USD yields for the second week in a row. | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | Pool | 25.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | Pool | 24.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 17.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 16.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | Llamalend | 13.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 12.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x788d96f655735f52c676a133f4dfc53cec614d4a.png)dUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-45/deposit) | Pool | 10.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | Llamalend | 10.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | Llamalend | 9.1% | ### Top BTC & ETH Yields Once again there's some great yield available in BTC Stableswap pools. But the winner this week is the [ETH/cbETH pool](https://www.curve.finance/dex/base/pools/factory-crypto-1/deposit) on Base. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets-base/0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.png)ETH![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets-base/0x2ae3f1ec7f1f5012cfeab0185bfc7aa3cf0dec22.png)cbETH](https://www.curve.finance/dex/base/pools/factory-crypto-1/deposit) | ETH | 24.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 13.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x85b78aca6deae198fbf201c82daf6ca21942acc6.png)ARM-WETH-stETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-641/deposit) | ETH | 7.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 7.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 5.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xb0f70c0bd6fd87dbeb7c10dc692a2a6106817072.png)BTC.b](https://curve.finance/dex/monad/pools/factory-stable-ng-8/deposit) | BTC | 4.8% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 11.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfcc5c47be19d06bf83eb04298b026f81069ff65b.png)yCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-280/deposit) | CRV | 10.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/0x056C6C5e684CeC248635eD86033378Cc444459B0/deposit) | FOREX | 8.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 6.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 6.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 5.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 3.9% | ## Weekly Metrics ### crvUSD & scrvUSD The crvUSD minted supply increased again this week, reaching $92.3M. Borrow rates rose slightly as PegKeepers withdrew a portion of deployed Stability Reserves, which helped support the crvUSD price and keep it firmly at the $1 level. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $92.3M | +1.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 2.5% | +0.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 20.3% | \-1.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $1.0 | +$0.0007 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 3.1% | +0.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $35.7M | \-$3.49M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $0 | \-$3.4k | ### Llamalend The value of collateral in [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) increased as ETH and BTC had a strong week. At the same time, the number of loans and the total value borrowed remained largely steady over the week. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $264M | +4.9% | | 🦙 Supplied | $83.3M | \-0.5% | | 🦙 Borrowed | $162M | \-0.3% | | 🦙 Collateral | $250M | +4.8% | | 🦙 Loans | 1275 | +14 | ### DEX [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) activity was mixed this week. While total volume declined, swap counts and fees increased, and DEX TVL continued to rise, indicating steady liquidity and active usage despite smaller average trade sizes. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 DEX TVL | $2.57B | +1.5% | | 🔄 Volume | $1.24B | \-20.0% | | 🔄 Swaps | 387k | +11.2% | | 🔄 Total Fees | $259k | +17.0% | ### DAO DAO metrics were stable this week, with veCRV distribution to holders continuing its upward trend. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.47B | +0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 856M | \-0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 791M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $112k | +13.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $911k (2.22M CRV) | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.936% | \-0.005% | ## Top Stableswap Pools USDS pools win the week again, however it was a great week for the DAI/USDC/USDT pool, with it generating $19k fees all flowing to the DAO. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $177.7M | $2.8k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $136.9M | $1.4k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $126.6M | $19.0k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $69.6M | $1.0k | | 5 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $66.6M | $14.1k | | 6 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $59.2M | $5.9k | | 7 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $34.3M | $3.4k | | 8 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $30.4M | $1.6k | | 9 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $29.8M | $3.1k | | 10 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $23.5M | $2.4k | ## Top Cryptoswap Pools The top Cryptoswap pools were largely unchanged this week. One notable exception was [YieldBasis](https://yieldbasis.com)’s new WETH/crvUSD pool, which stood out with strong fee generation relative to volume. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $18.4M | $9.4k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $15.5M | $19.9k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $14.0M | $7.2k | | 4 | +6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-316/deposit) | $11.8M | $63.7k | | 5 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $11.6M | $5.9k | | 6 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x320623b8e4ff03373931769a31fc52a4e78b5d70.png)RSR](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-21/deposit) | $1.9M | $1.4k | ## DEX Winners & Losers ### Fees Winners & Losers The new YieldBasis WETH/crvUSD pool appears again in the fees table this week. While its fees accrue to YieldBasis rather than Curve directly, the pool highlights the capital efficiency of the new [FXSwap](https://news.curve.finance/fxswap/) design under real trading conditions. The pool will be removed from this section next week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-316/deposit) | $11.8M | $63.7k | +$61.6k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-628/deposit) | $2.57M | $2.65k | +$2.43k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $11.4M | $4.56k | +$2.36k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $137M | $1.43k | \-$2.93k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/factory-crypto-234/deposit) | $439k | $1.45k | \-$7.52k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $1.68M | $5.4k | \-$26.1k | ### Volume Winners & Losers Ethena’s USDtb stablecoin led the week in volume growth, more than doubling its weekly trading activity. PYUSD/USDS recorded the largest decline week over week, though volumes remained elevated at $137M, with the drop reflecting a pullback from an unusually strong prior week rather than weak underlying activity. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc139190f447e929f090edeb554d95abb8b18ac1c.png)USDtb](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-314/deposit) | $21.8M | $2.27k | +$13.6M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-316/deposit) | $11.8M | $63.7k | +$11.3M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-563/deposit) | $11.5M | $1.16k | +$9.96M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $178M | $2.76k | \-$25.2M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $29.8M | $3.05k | \-$26.4M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $137M | $1.43k | \-$267M | ### TVL Winners & Losers TVL increases among the top gainers were driven primarily by higher BTC and ETH prices. Whereas decreases were mainly driven by reduced incentives. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-252/deposit) | $221M | +$11.2M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $149M | +$10.3M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-253/deposit) | $109M | +$7.3M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xb0f70c0bd6fd87dbeb7c10dc692a2a6106817072.png)BTC.b](https://curve.finance/dex/monad/pools/factory-stable-ng-8/deposit) | $5.12M | \-$4.71M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $73.9M | \-$8.82M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xbb30e76d9bb2cc9631f7fc5eb8e87b5aff32bfbd.png)scBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x202096924e6a7fc1db3b3d88ff6be78a0cf1548d.png)sWBTC\_ar](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-61/deposit) | $647 | \-$9.95M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers ETH-backed markets led borrowing activity this week, with total crvUSD minted increasing by over $1M. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $38.5M | $21.3M | +$1.05M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $18.2M | $8.92M | +$275k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $618k | $351k | +$100k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $87.3M | $46.9M | \-$52.7k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $6.85M | $4.11M | \-$88.6k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $11.3M | $7.08M | \-$275k | ### Lend Markets - Borrowing Winners & Losers sreUSD recorded a strong week for borrowing, with crvUSD borrowed increasing by over 8%. In contrast, several other stablecoin markets saw outflows as yields compressed and leveraged yield opportunities became less attractive. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $23.1M | $19.5M | +$1.52M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-10/vault/deposit) | $731k | $408k | +$30.3k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $3.07M | $2.77M | +$27.6k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $32.6M | $26.8M | \-$641k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $8.06M | $7.63M | \-$1.11M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $6.15M | $5.36M | \-$1.17M | ### Lend Markets - Supplying Winners & Losers sreUSD also led in supplied crvUSD this week, posting an increase of over 8%. Notably, despite a decline in borrowing, the sDOLA market saw an increase in supplied crvUSD, indicating more suppliers are chasing the smaller available yields across DeFi. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $23.1M | $19.5M | +$1.82M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $32.6M | $26.8M | +$393k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $3.07M | $2.77M | +$33.4k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $666k | $534k | \-$138k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $6.15M | $5.36M | \-$884k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $8.06M | $7.63M | \-$1.3M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### FXSwap URL: https://news.curve.finance/fxswap/ Last updated: 2026-03-30T16:48:21.000Z The introduction of Stableswap in 2020 showed that passively concentrated liquidity works extremely well for pegged assets, where prices of the tokens remain close to each other (like USDC<>USDT, or WETH<>stETH). But for volatile asset pairs with independent prices, AMM performance is still an open challenge. When prices move quickly, liquidity tends to be left behind, making trades inefficient. FXSwap moves this frontier forward by automating liquidity concentration, as Cryptoswap pools on Curve already do, and by introducing a **new mechanism called refueling**. Refueling funds the rebalancing budget used when prices drift, allowing the pool to smoothly shift liquidity concentration and keep depth near the current price without active LP management. To understand how well this new design performs in practice, [**Pangea**](https://www.pangea.foundation/) conducted an **independent analysis comparing FXSwap to Uniswap V3 for BTC/USD flows**. **TLDR:** FXSwap can deliver materially better execution for large trades, especially during volatility. ## What is FXSwap? FXSwap is Curve’s new AMMfor asset pairs that drift over time, rather than forming a stable pair. This covers both volatile pairs like crypto assets, and lower-volatility foreign exchange and real-world asset pairs. It **combines** the pricing efficiency of **Stableswap** with the passive rebalancing framework of **Cryptoswap**, plus a **new mechanism called Refueling**. The goal is to provide deep, passive liquidity for asset pairs that are not pegged to each other, without requiring LPs to actively manage ranges. Presentation from Michael K. about how FXSwap works (StableSummit 2026) 📖 For a deeper explanation of the mechanism, see the [FXSwap documentation](https://knowledge.curve.finance/protocol/pool/understanding-fxswap) on Curve's documentation hub. With FXSwap, liquidity is always deployed in full-range. LPs do not need to choose a price range or rebalance positions as the market moves. Instead, the pool automatically keeps most liquidity concentrated near the current market price, similar to Cryptoswap. This addresses a long-running issue in volatile AMMs: when prices move quickly, liquidity often drifts away from the active price, leading to higher slippage for traders and lower fee capture (or none at all) for LPs. In CLAMMs like Uniswap V3, LPs must monitor the price and manually reposition liquidity. If they do not, their capital sits out of range and stops earning fees. FXSwap automates this entire process. When the price moves up or down, liquidity is passively re-centered using a combination of pool trading fees and the new Refuel mechanism. Refuels act as an external buffer that subsidizes rebalancing costs during both calm and volatile markets. Rebalancing costs are covered by the pool’s fee flow and, when needed, by externally funded refuels, allowing the pool to maintain depth more consistently. This keeps spreads tight during price discovery and enables passive LPs to always remain in range and always earn fees, without any active management. Because of these properties, FXSwap is well-suited for pairs such as BTC/USD, ETH/USD, and especially low-volatility assets like fiat FX stablecoins. These are assets with independent market prices that are actively traded off-chain in large size. FXSwap provides an AMM architecture that can support these markets onchain. 🧪 ****FXSwap is already live today.** YieldBasis has launched BTC<>crvUSD and ETH<>crvUSD pools using the FXSwap design, and a series of FX pilot pools for real-world currency pairs such as [CHF](https://www.curve.finance/dex/ethereum/pools/0x027b40f5917fcd0eac57d7015e120096a5f92ca9/deposit), [GBP](https://www.curve.finance/dex/ethereum/pools/0x7a2330c9acb154b3df925321493c97d0056a536f/deposit), [BRZ](https://www.curve.finance/dex/base/pools/0x6771bb9ec8da900eeba738599c3cc4f8fc07aea7/deposit), and [IDR](https://www.curve.finance/dex/base/pools/0xc4a556892887c8684ad46700c6ae2f7dcb57baf4/deposit) have been deployed. As these markets operate, they provide valuable data on how FXSwap performs, which will help optimize parameters and pool configurations over time. --- ## Pangea Research To evaluate FXSwap’s real-world performance, [Pangea](https://www.pangea.foundation/) analyzed execution quality for **USDC → BTC** trades across two routes: 1. [**Uniswap V3 WBTC/USDC 0.3% pool**](https://app.uniswap.org/explore/pools/ethereum/0x99ac8cA7087fA4A2A1FB6357269965A2014ABc35) 2. **Curve FXSwap route** via crvUSD *(USDC → crvUSD → WBTC using Curve’s* [*crvUSD/USDC*](https://www.curve.finance/dex/ethereum/pools/0x4dece678ceceb27446b35c672dc7d61f30bad69e/swap) *and* [*YieldBasis WBTC*](https://www.curve.finance/dex/ethereum/pools/0xd9ff8396554a0d18b2cfbec53e1979b7ecce8373/swap) *pools)* A key detail is that these pools had **similar TVL** for most of the measurement window, making this a fair comparison. This means FXSwap’s outperformance is not just better pricing in absolute terms, but better pricing **per unit of capital**. **Pangea published the full study in a research article here:** > > > — Pangea (@in\_pangea) [January 9, 2026](https://twitter.com/in%5Fpangea/status/2009640241108259295?ref%5Fsrc=twsrc%5Etfw) **Methodology** Pangea collected **end-of-block state data** from November 1 to December 17\. For each block, they asked a simple question: > “If I spend X USDC to buy BTC right now, how much BTC do I receive?” Multiple trade sizes were evaluated, ranging from small retail trades up to **10 million dollar institutional-size flows**. Quotes include swap fees but exclude gas. Alongside the raw quotes, Pangea analyzed: - TVL - pool composition - liquidity distribution - price impact during volatility - speed of recentring after price moves These datapoints help explain not only **which pool performs better**, but **why** the performance diverges. ### **How Does FXSwap Perform?** For **large trades**, FXSwap performed significantly better than the Uniswap V3 pool. > For a 10 million dollar trade, **FXSwap provided the better execution price in approximately 80% of blocks**, with an average improvement of about 2%. > > In some blocks, execution through **Uniswap was** **over 7% worse** for the same trade size. This shows FXSwap delivers **more effective depth per dollar of TVL**, even compared to a mature concentrated-liquidity design. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/01/1.png) For smaller trades, Uniswap often remained slightly better due to lower fees as YieldBasis BTC FXSwap pools use a **static 1% fee** to fund automatic liquidity management and refuelling. As a result, retail-sized trades often route through Uniswap, while larger institutional flows benefit more from FXSwap’s deeper book. ### **Volatility Case Study: November 21** A particularly informative moment occurred on **November 21**, when BTC fell below 83,000 dollars. During the move, both pools temporarily lost liquidity concentration as the price dropped, but their responses diverged: - The **Uniswap pool** experienced price impact above **12%** for a 10 million dollar swap and stayed elevated for a sustained period. - The **FXSwap pool** peaked near **7.5%**, then stabilized around **5% to 6%** as it recentred liquidity automatically. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/01/2.png) This highlights a core design difference. Uniswap depends on LPs manually moving liquidity back into range, while FXSwap **automates** this process through its refuelling mechanism. ### **cbBTC Pool Results** Pangea also examined the YieldBasis **cbBTC** pool, which benefits from fast, fee-free redemptions via Coinbase. This allows arbitrageurs to keep the pool more accurately priced and quickly refuelled. After a December cap increase to 200 million dollars, the cbBTC FXSwap pool delivered **approximately 1% price impact** on 10 million dollar trades, which is extremely low for a volatile crypto pair. --- ## **Conclusion** Pangea’s analysis suggests that FXSwap represents a meaningful advance in volatile AMM design. By automating liquidity concentration and socializing the cost of rebalancing, FXSwap delivers deeper execution for large trades without requiring LP micromanagement. FXSwap is also fully passive for LPs. Liquidity is always in range, always used, and always earning fees. As FXSwap rolls out to additional markets, including foreign exchange between different fiat-pegged stablecoins, the design opens the door to deeper and more reliable on-chain execution for assets that previously traded primarily on centralized venues. As liquidity deepens and more data accumulates, FXSwap can and will play a growing role in bringing spot FX and other large markets on-chain. --- ### Curve Best Yields & Key Metrics | Week 2, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-2-2026/ Last updated: 2026-01-08T13:21:13.000Z ## Market Overview It has been a very positive week for Curve. There was plenty of notable news this week: - TVL has increased to $2.570B, up 4.3%. - crvUSD borrowed supply has increased over 19% ($15M) to $91M. - [YieldBasis](https://yieldbasis.com/earn) launched a new WETH market with a $25M cap, which filled up in less than 3 minutes. It uses the [efficient new FXSwap pool types](https://www.curve.finance/dao/ethereum/proposals/1299-ownership). - Resupply launched a new [sreUSD market](https://resupply.fi/supply), helping protect the crvUSD peg by creating a liquidity sink. - The year in review is out, read it here: [Curve: 2025 Year in Review](https://news.curve.finance/curve-2025-year-in-review/) There are some great yields available this week, especially with the new pmUSD stablecoin from [RAAC](https://raac.io/). See all the highlighted yields and metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Large crvUSD Markets | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $32.2M | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $21.3M | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $14.6M | 3.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $72.7M | 3.5% | ### Other Top USD Yields | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-653/deposit) | Pool | 103.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc0c17dd08263c16f6b64e772fb9b723bf1344ddf.png)pmUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-652/deposit) | Pool | 97.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 19.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/plasma.png "Plasma") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-plasma/0xb8ce59fc3717ada4c02eadf9682a9e934f625ebb.png)USDT0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-plasma/0x5d3a1ff2b6bab83b63cd9ad0787074081a52ef34.png)USDe](https://curve.finance/dex/plasma/pools/factory-stable-ng-0/deposit) | Pool | 17.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 12.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 12.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/plasma.png "Plasma") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-plasma/0xb8ce59fc3717ada4c02eadf9682a9e934f625ebb.png)USDT0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-plasma/0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2.png)sUSDe](https://curve.finance/dex/plasma/pools/factory-stable-ng-1/deposit) | Pool | 12.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000002.png)WFRAX](https://curve.finance/lend/#/fraxtal/markets/one-way-market-2/vault/deposit) | Llamalend | 11.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x00000000efe302beaa2b3e6e1b18d08d69a9012a.png)AUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x754704bc059f8c67012fed69bc8a327a5aafb603.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xe7cd86e13ac4309349f30b3435a9d337750fc82d.png)USDT0](https://curve.finance/dex/monad/pools/factory-stable-ng-2/deposit) | Pool | 9.7% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 13.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xb0f70c0bd6fd87dbeb7c10dc692a2a6106817072.png)BTC.b](https://curve.finance/dex/monad/pools/factory-stable-ng-8/deposit) | BTC | 10.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 7.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 6.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 5.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 5.3% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 25.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV 2](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 14.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT | FOREX | 9.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 7.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 7.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 6.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 5.5% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD minted this week was up over 19% (with over $15M borrowed during the week), marking an incredible week for crvUSD. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $91.4M | +19.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 1.9% | +1.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 22.1% | \-4.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9993 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 2.8% | +1.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $39.2M | \-$17.8M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $3.4k | +$3.4k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) had a great week with positive metrics across the board. Perhaps people are starting to recognize Curve's cheap loans and liquidation protection features? | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $251M | +10.3% | | 🦙 Supplied | $83.8M | +0.2% | | 🦙 Borrowed | $162M | +11.5% | | 🦙 Collateral | $239M | +11.9% | | 🦙 Loans | 1261 | +59 | ### DEX [DEX Pools](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) also had a great week, with fees and volumes once again seeing a significant increase, along with TVL and the number of swaps. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.53B | +4.6% | | 🔄 Volume | $1.55B | +45.0% | | 🔄 Swaps | 348k | +11.3% | | 🔄 Total Fees | $222k | +57.0% | ### DAO The DAO recorded a positive week as well, with veCRV holder distributions higher than last week. CRV emissions to LPs increased by 6.3%, driven by a higher average CRV price over the week. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.46B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 859M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 791M | \-0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $99.3k | +73.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $912k (2.22M CRV) | +6.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.941% | \-0.005% | ## Top Stableswap Pools The top pools by volume were once again the USDS pools. The standout surprises were the NUSD and USDe/USDT pools, both of which saw very large jumps up the leaderboard. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $404.3M | $4.4k | | 2 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $202.9M | $3.0k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $128.0M | $19.2k | | 4 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $83.2M | $1.1k | | 5 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $70.5M | $7.0k | | 6 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $60.9M | $13.0k | | 7 | +23 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $56.2M | $5.8k | | 8 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $39.3M | $3.9k | | 9 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $36.0M | $2.1k | | 10 | +46 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-365/deposit) | $25.0M | $874.3 | ## Top Cryptoswap Pools Due to CVX’s sharp price increase and heightened volatility this week, CVX pools saw strong demand. This resulted in substantial fee generation for LPs. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $21.6M | $20.8k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $21.1M | $9.9k | | 3 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $17.5M | $8.1k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $12.7M | $6.7k | | 5 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $7.9M | $31.5k | | 6 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/factory-crypto-234/deposit) | $2.3M | $9.0k | | 7 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x320623b8e4ff03373931769a31fc52a4e78b5d70.png)RSR](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-21/deposit) | $1.9M | $1.7k | | 8 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $1.4M | $4.9k | | 9 | +8 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xec53bf9167f50cdeb3ae105f56099aaab9061f83.png)EIGEN![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-248/deposit) | $657.9k | $2.2k | | 10 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-316/deposit) | $478.1k | $2.1k | ## DEX Winners & Losers ### Fees Winners & Losers The extreme rally in CVX drove significant fee generation, with the WETH/CVX pool winning the week by a wide margin. Notably, very few pools saw declines in swap fees this week. The YB/crvUSD pool recorded the largest decrease, though this was limited to a $1.36k week-on-week drop. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $7.86M | $31.5k | +$25.2k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $60.9M | $13k | +$10.3k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $128M | $19.2k | +$10.2k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0c057598dce1891688829581f890dd2a3685a43f.png)sdYB](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-624/deposit) | $59.1k | $174 | \-$672 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $149k | $30.1 | \-$938 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $1.42M | $4.93k | \-$1.36k | ### Volume Winners & Losers Volumes rebounded strongly this week across major pools, following lower-than-usual volatility and activity last week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $203M | $3.04k | +$153M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $128M | $19.2k | +$68.3M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $83.2M | $1.13k | +$58.3M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $149k | $30.1 | \-$4.51M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $18.9M | $2.03k | \-$4.57M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-16/deposit) | $16.4M | $1.64k | \-$4.77M | ### TVL Winners & Losers Capital rotated through the stUSDS pools this week, with liquidity exiting the older pool and even more flowing into the newer USDS/stUSDS pool. The USDT/crvUSD pool experienced a $16M outflow as PegKeepers withdrew liquidity to help maintain the crvUSD peg. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-628/deposit) | $31.3M | +$17.5M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $95.5M | +$10.5M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xbb30e76d9bb2cc9631f7fc5eb8e87b5aff32bfbd.png)scBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x202096924e6a7fc1db3b3d88ff6be78a0cf1548d.png)sWBTC\_ar](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-61/deposit) | $9.95M | +$9.95M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1202f5c7b4b9e47a1a484e8b270be34dbbc75055.png)wstUSR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-568/deposit) | $39.5M | \-$2.77M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-627/deposit) | $598k | \-$4.63M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $72.7M | \-$16.5M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers The WBTC market saw a substantial $11.7M increase in borrowing this week, representing a very large week-on-week change. Notably, only one market experienced any outflow at all, and that outflow was less than $1k. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $81.8M | $47M | +$11.7M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $34.7M | $20.2M | +$1.33M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $16.4M | $8.65M | +$755k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $2.14M | $1.15M | +$8.92k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $497k | $150k | +$9.84 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $395k | $251k | \-$606 | ### Lend Markets - Borrowing Winners & Losers sDOLA continued its dominance, once again increasing week on week. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $32.2M | $27.5M | +$1.61M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $21.3M | $18M | +$130k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $7.03M | $6.53M | +$108k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $498k | $355k | \-$13.1k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $911k | $722k | \-$25.9k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx](https://curve.finance/lend/#/ethereum/markets/one-way-market-29/vault/deposit) | $11.2k | $8.66k | \-$51.8k | ### Lend Markets - Supplying Winners & Losers sreUSD led the week in increased supplied crvUSD, taking the top spot among lending markets. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $21.3M | $18M | +$390k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.29M | $3.36M | +$231k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $803k | $606k | +$157k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $911k | $722k | \-$78.7k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx](https://curve.finance/lend/#/ethereum/markets/one-way-market-29/vault/deposit) | $11.2k | $8.66k | \-$87.4k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $7.03M | $6.53M | \-$417k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve: 2025 Year in Review URL: https://news.curve.finance/curve-2025-year-in-review/ Last updated: 2026-01-07T14:53:57.000Z ## Curve in 2025, by the Numbers Pool creation increased year over year, with **2,209 new pools created in 2025 compared to 2,042 in 2024**, an increase of roughly **8%**. Trading activity also expanded. Total trading volume grew from approximately **$119 billion in 2024 to $126 billion in 2025**, while average protocol TVL increased from **$2.86 billion to just over $3.05 billion**. On the usage side, activity shifted meaningfully toward lending and stablecoin infrastructure. Lending-related transactions increased from **234,000 to over 421,000**, while crvUSD-related activity remained a core part of the protocol. Pool interactions more than doubled year over year, rising from **11.8 million to over 25.2 million transactions**, showcasing sustained demand for Curve’s liquidity infrastructure. Fee generation followed a similar trend. While total fees fluctuated during the year, Curve’s **share of Ethereum DEX fees grew dramatically**, rising from **1.6% at the beginning of 2025 to 44% by December**, a **27.5x increase**. Rather than being driven by a single product or market, this growth reflected Curve’s evolving role as shared infrastructure for stablecoin liquidity, lending, and emerging new use cases across the ecosystem. > Curve is nearly surpassing Uniswap in DEX fee dominance. > > This time last year, [@CurveFinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw) contributed 1.59%; today, it accounts for 44.06% of all DEX fees on Ethereum. [pic.twitter.com/dzpLUHIpAg](https://t.co/dzpLUHIpAg) > > — naly (@defi\_naly) [December 18, 2025](https://twitter.com/defi%5Fnaly/status/2001654874631495890?ref%5Fsrc=twsrc%5Etfw) ## FXSwap: Bringing Foreign Exchange On-Chain FXSwap was one of the most strategically important additions to Curve toward the end of 2025\. It lays the foundation for bringing foreign exchange markets on-chain using Curve’s pricing philosophy. FXSwap is designed for low-volatility asset pairs such as fiat-linked or synthetic FX assets, where predictable pricing and deep liquidity matter more than speculative trading. For users, this means the ability to swap between different currency-denominated assets on-chain with pricing behaviour that more closely resembles traditional foreign exchange markets. In 2025, FXSwap moved from concept to reality. Pilot markets are currently being tested for [**CHF (Swiss franc)**](https://www.curve.finance/dex/ethereum/pools/0x027b40f5917fcd0eac57d7015e120096a5f92ca9/), [**BRZ (Brazilian real)**](https://www.curve.finance/dex/base/pools/0x6771bb9ec8da900eeba738599c3cc4f8fc07aea7/deposit), and [**IDR (Indonesian rupiah)**](https://www.curve.finance/dex/base/pools/0xc4a556892887c8684ad46700c6ae2f7dcb57baf4/deposit), marking early but meaningful steps toward real on-chain foreign exchange. Rather than launching dozens of pairs at once, Curve is validating FX markets and using early data to refine the design before broader expansion. FXSwap is not about short-term volume. It is about building the missing infrastructure that allows stablecoins to trade against each other the way fiat currencies do in traditional finance. ## Five Years of Curve DAO In 2025, Curve DAO turned five years old, a milestone few DeFi protocols ever reach. The anniversary was a reminder of what makes Curve different. Governance is embedded directly into the protocol, emissions and incentives are governed by code, and the DAO continues to operate without resets, migrations, or rewrites. [Five Years of Curve DAOA Chad hit deploy and, just like that, the Curve DAO was born. veCRV’s veTokenomics and priced vote incentives sparked the Curve Wars, delivered steady real yield, and showed that on-chain, community-led governance can work and scale.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-28.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/IMG_2067.png)](https://news.curve.finance/five-years-of-curve-dao-2/) That immutability was on display again in August, when the CRV emission rate was reduced exactly as programmed. No emergency votes and no governance drama, just the protocol doing what it was designed to do. [CRV Emission Rate Gets a Cut - As ProgrammedAnother August, another CRV Emission Rate cut: \~137.4M → \~115.5M CRV/year (≈15.9%) as Epoch 5 starts. Permissionless, hardcoded, and just in time for Curve’s 5th anniversary.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-29.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/image-2.png)](https://news.curve.finance/crv-emission-rate-gets-a-cut-as-programmed/) ## **crvUSD and Llamalend: Maturing the Stablecoin Stack** crvUSD, Curve's decentralized CDP stablecoin, grew exceptionally through the year. The system held up remarkably during real market stress, as new integrations and use cases came online across the ecosystem. The peg remained very tight as usual during volatile conditions and crvUSD supply increased from a bit less than 100M to more than 361M, a 3x increase. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2026/01/crvusd-supply.png) ### **crvUSD Improvements and Market Expansion** 2025 was a year of steady iteration for crvUSD. New mint markets and collateral types went live, alongside smart contract upgrades that improved robustness and flexibility. At the same time, work continued on one of crvUSD’s defining features, its adaptive borrow rate, designed to keep the stablecoin tightly on peg. [Enhanced crvUSD Markets & New Collateral Assets Go LiveNew crvUSD mint markets with upgraded smart contracts—borrow crvUSD using cbBTC, weETH, or LBTC.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-30.png)Curve NewsSaint Rat![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/New-crvUSD-mint-markets-2-1.png)](https://news.curve.finance/enhanced-crvusd-markets-new-collateral-assets-go-live/) While this mechanism reacts quickly to market conditions, it can also introduce volatility during periods of stress. In 2025, the first changes to smooth borrow rate adjustments were deployed, with further improvements already in the pipeline. [Inside crvUSD Borrow RateLearn how crvUSD borrow rates work, why volatility increased in recent months, and what the latest Curve DAO changes mean for a smoother, more predictable borrowing experience.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-31.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/New-crvUSD-mint-markets-1.png)](https://news.curve.finance/inside-crvusd-borrow-rate/) ### Liquidation Protection in Practice Llamalend’s liquidation protection proved itself repeatedly throughout the year. Instead of abrupt liquidations, positions were gradually de-risked, saving a large number of borrowers during volatile market conditions. [Liquidation Protection: Making Volatile Markets ManageableLlamalend’s liquidation protection turns sudden wipeouts into a controlled, manageable process. It helps loans survive volatility and gives borrowers more time to react and adjust. Find out how.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-32.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/Frame-1171274425.png)](https://news.curve.finance/liquidation-protection-making-volatile-markets-manageable/) The result was not just better user experience, but a practical demonstration that on-chain lending can handle volatility without relying on centralized risk management. This approach reflects Curve’s broader preference for gradual risk adjustment over abrupt system shocks. ## **Curve as a Building Block** As Curve’s core primitives matured, a growing number of protocols began using them as foundational infrastructure rather than end products. Governance also became more accessible. In 2025, the DAO [removed the veCRV whitelist](https://www.curve.finance/dao/ethereum/proposals/1062-ownership), allowing any smart contract to lock CRV. This expanded who can participate in the vote-escrow system and strengthened Curve’s role as shared infrastructure for other protocols. ### Resupply In March, Resupply launched as a protocol built directly on top of Llamalend. By allowing users to borrow reUSD against crvUSD supplied to Curve lending markets, Resupply added an additional layer of capital efficiency without reinventing the underlying mechanics. [Curve x Resupply: Unlocking capital efficiency for crvUSDThe launch of Resupply has already had a notable impact on Curve’s ecosystem - driving a surge in Llamalend TVL and a sharp increase in crvUSD supply. Let’s find out what it is and how it works: Resupply Resupply is a decentralized stablecoin protocol that leverages the liquidity![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-33.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/curve-x-resupply-banner.png)](https://news.curve.finance/curve-x-resupply-unlocking-capital-efficiency-for-crvusd/) [Curve ✗ Resupply: A Proposal to Mint 5M crvUSDA new Curve DAO proposal would mint and supply 5M crvUSD directly into the sreUSD Llamalend market. Introduced by Resupply, it expands crvUSD utility, supports reUSD market growth, and generates additional yield for the DAO.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-34.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/Frame-1171274456--1-.png)](https://news.curve.finance/curve-resupply-a-proposal-to-mint-5m-crvusd/) Resupply quickly became a case study in how Curve primitives can be composed safely and productively. ### YieldBasis Initially teased at Curve’s Belgrade event, YieldBasis launched in 2025 with an ambitious goal: **addressing impermanent loss**. Built by Curve’s founder, YieldBasis explores a new AMM design that builds directly on Curve’s Cryptoswap pools and crvUSD architecture, enabling liquidity provision for BTC without traditional impermanent loss dynamics. [Yield Basis: How to Solve Impermanent LossCurve Founder Michael Egorov presents Yield Basis at BEL-CRV: a breakthrough protocol designed to eliminate impermanent loss, long seen as a fundamental trade-off in AMMs.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-35.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/New-Basepool--1--1.png)](https://news.curve.finance/yield-basis-how-to-solve-impermanent-loss/) To make this model work, YieldBasis leverages liquidity by **2x** and uses **crvUSD** as the leverage layer. By the end of 2025, the protocol was already utilizing **over 200M crvUSD**, even with market caps in place, highlighting both demand for the model and crvUSD’s growing role as a core building block within the system. In return for supplying crvUSD, Curve receives YieldBasis’s governance tokens ($YB), which are currently used as incentives to support crvUSD liquidity and ecosystem growth. ### **A Growing Ecosystem** Resupply, Spectra Finance, liquid lockers, and community boost mechanisms all highlighted the same pattern. Curve works best when others build on top of it. [Resupply: A Curve Ecosystem Success StoryHow Resupply Unlocks Yield-on-Yield with Curve: Built on Curve’s Llamalend, Resupply lets you supply crvUSD, use the yield bearing vault token as collateral, and mint reUSD, boosting capital efficiency, deepening Llamalend liquidity, and aligning value with veCRV.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-38.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/image-5.png)](https://news.curve.finance/resupply-success-story/) [Spectra Finance: A Curve Ecosystem Success StoryBuilt on Curve’s Stableswap and oracle pools, Spectra splits deposits into PT/IBT/YT so markets can price future yield without selling principal. Curve’s deep liquidity, stable pricing, and fee share make it the settlement layer for on-chain interest.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-37.png)Curve NewsSaint Rat![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/image-4.png)](https://news.curve.finance/spectra-finance-a-curve-ecosystem-success-story/) [Liquid Lockers and Community BoostsLiquid lockers like Convex, Yearn, and StakeDAO pool CRV into veCRV, unlocking community boosts and higher yields. They make Curve rewards accessible to all users without the four-year lock.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-36.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/ll.png)](https://news.curve.finance/liquid-lockers-and-community-boosts/) ## **Security, Risk, and Protocol Resilience** 2025 also reinforced a core lesson of on-chain finance: the frontend can fail without the protocol failing. During the DNS incident, Curve’s contracts continued to operate and markets kept trading, underscoring why immutable infrastructure matters when things go wrong. [Curve Domain IncidentOn May 12, 2025, Curve.fi was hijacked via a DNS attack at the registrar level. No contracts or data were compromised. Curve moved to https://curve.finance and urges a shift to ENS for safer, decentralized access.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-39.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/image--1--2.png)](https://news.curve.finance/curve-domain-incident/) Emergency DAO controls were expanded over crvUSD. LlamaRisk introduced Curve Market Health Scores, providing a transparent framework for assessing risk across markets. [Curve Market Health Scores Methodology - Llama RiskDeFi Risk Specialists: Building Trust, Transparency, and Growth in Decentralized Finance![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/BG1zDImP7EiT0vymvEuk4Joppgo.png)Llama Risk![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/RCa3IGmVjKig7OrzuIo7iy92EjU.png)](https://research.llamarisk.com/research/curve-market-health-methodology) Curve documented incidents openly and in detail. Deep dives into oracle security and the state of Vyper and Curve smart contracts reinforced Curve’s emphasis on clarity, reviewability, and education over obscurity. [State of Vyper & Curve Smart ContractsCurve dev Alberto shares how Curve’s production needs have shaped Vyper, from non-reentrancy by default to new compiler tooling. A look at what’s improved, what’s next, and why Curve still builds in Vyper.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-40.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/vyper.png)](https://news.curve.finance/state-of-vyper-curve-smart-contracts/) [Curve’s Oracle Security ExplainedAn overview of Curve’s Oracle Design and Security:![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-41.png)Curve NewsSaint Rat![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/oracle.png)](https://news.curve.finance/curves-oracle-security-explained/) ## **Education, Research, and the Community** On the research side, Curve published deeper explorations into veCRV and sustainable tokenomics, as well as Curve’s role as the home of stablecoins. These efforts reinforced Curve’s long-standing belief that education is a form of infrastructure. [Beyond Burn: Why veCRV Unlocks Sustainable Tokenomics for CurveveCRV locks tokens for governance and rewards, aligning users with long-term protocol success. Unlike buyback-and-burn, it builds sustainable value through commitment - not scarcity.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-42.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/image-15-1.png)](https://news.curve.finance/beyond-burn-why-vecrv-unlocks-sustainable-tokenomics-for-curve/) [Curve Finance: The Rise of the Home of StablecoinsSince 2020, Curve has evolved from a niche stablecoin AMM into DeFi’s liquidity backbone. Secure, efficient swaps, a powerful veCRV governance system, and innovations like crvUSD and Llamalend that rethink liquidations and unlock high-LTV borrowing.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-43.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/image-2-1.png)](https://news.curve.finance/curve-finance-the-rise-of-the-home-of-stablecoins/) Curve Ecosystem Day in Belgrade brought together builders, researchers, and community members. [Curve Finance Takes Over Belgrade with Ecosystem Day During Blockchain WeekCurve Finance brought DeFi builders together in Belgrade for a day of deep dives, cross-chain conversations, and ecosystem breakthroughs—featuring founder Michael Egorov and a standout lineup of speakers.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-44.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/image--7--2.png)](https://news.curve.finance/curve-finance-takes-over-belgrade-with-ecosystem-day-during-blockchain-week/) ## Deployments and Housekeeping 2025 was also a major year for deployments. Curve’s DEX infrastructure expanded to more than 9 additional chains, including Sonic, Taiko, Plume, Hyperliquid, XDC, Etherlink, Plasma, Monad, and others. The permissionless nature of pool creation ensured that Curve could continue growing without centralized coordination. On the infrastructure side, Curve introduced the Curve Block Oracle, a modular and open-source framework for secure multichain messaging, live across more than twenty networks. [Curve Block OracleCurve’s Roman Agureev presents a modular, open-source framework for secure multichain messaging—built with storage proofs, bridge-agnostic transport, and already live across 20+ networks. It’s now available to any team building cross-chain infrastructure.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-45.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/New-Basepool--3--2.png)](https://news.curve.finance/curve-block-oracle/) Toward the end of the year, Curve began consolidating and cleaning up deployments, including deprecating the Llamalend deployment on Sonic ahead of the launch of Llamalend V2. In June 2025, the DAO [voted in](https://www.curve.finance/dao/ethereum/proposals/1123-ownership) a dedicated [**Treasury**](https://etherscan.io/address/0x6508ef65b0bd57eabd0f1d52685a70433b2d290b), allocating 10% of protocol revenue to a reserve under direct DAO control. Previously, almost all fees were redistributed to stakeholders and liquidity providers, and there was no mechanism to grow a treasury on an ongoing basis. The creation of this Treasury gives the DAO a more durable financial foundation for audits, development, risk mitigation, and other long-term priorities, reflecting a more mature governance approach while preserving full DAO oversight. ## **Looking Ahead: What 2026 Is About** 2025 was about foundations, 2026 is about expansion. The roadmap ahead points toward on-chain FX markets, crvUSD expansion through YieldBasis and Llamalend V2, and a new generation of borrowing and lending primitives. By the end of 2025, Curve had positioned itself not just as the home of stablecoin liquidity, but as a full DeFi suite spanning exchange, lending, and emerging FX markets. With crvUSD as a settlement layer, FXSwap enabling on-chain foreign exchange, and Llamalend V2 expanding lending beyond a single asset, the core pieces are now in place. Five years in, Curve is not slowing down. It is deliberately preparing for its next phase. ### Llamalend V2: Scaling Lending Beyond crvUSD Expected to launch in early 2026, **Llamalend V2** marks a major expansion of Curve’s lending framework. It introduces stronger risk steering through borrow limits, improved internal accounting, and upgraded contract standards, giving the DAO more precise tools to scale markets safely. Together, these changes strengthen security while making Llamalend easier to integrate into the broader Curve ecosystem. Most importantly, Llamalend V2 removes the strict dependency on crvUSD as the sole borrowable asset. Lending markets can now be created for widely used pairs such as ETH against USDC or BTC against USDT, with the option for the DAO to apply admin fees on non-crvUSD markets. This expands Curve’s addressable lending markets while creating new, sustainable revenue streams for the DAO. Capital efficiency is also extended through support for LP tokens and fixed-yield assets as collateral, allowing users to earn yield while borrowing against the same positions. Combined with optional mechanisms that reduce risk automatically as positions weaken, Llamalend V2 forms a natural bridge between Curve’s stablecoin liquidity, emerging on-chain FX markets, and the next generation of lending. Alongside FXSwap and crvUSD, it is a key pillar in Curve’s push toward a more complete and interconnected DeFi suite in 2026. --- ### Curve Best Yields & Key Metrics | Week 1, 2026 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-1-2026/ Last updated: 2026-01-01T14:17:36.000Z ## Market Overview Welcome to 2026, a whole new year! 🥳 Curve doesn't stop and neither will the yields (for the next 100 years at least). As the market chop continues, TVL has declined modestly, **down** **2.3%** to **$2.465B** over the past week. Check out all the highlighted opportunities and weekly metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $36M | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $32.1M | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $20.9M | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $15.5M | 4.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $40M | 3.7% | ### Other Top USD Yields | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 19.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-628/deposit) | Pool | 18.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/plasma.png "Plasma") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-plasma/0xb8ce59fc3717ada4c02eadf9682a9e934f625ebb.png)USDT0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-plasma/0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2.png)sUSDe](https://curve.finance/dex/plasma/pools/factory-stable-ng-1/deposit) | Pool | 16.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | Llamalend | 14.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 11.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-501/deposit) | Pool | 11.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | Pool | 10.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x677ddbd918637e5f2c79e164d402454de7da8619.png)VUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-212/deposit) | Pool | 10.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | Llamalend | 8.7% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 18.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xb0f70c0bd6fd87dbeb7c10dc692a2a6106817072.png)BTC.b](https://curve.finance/dex/monad/pools/factory-stable-ng-8/deposit) | BTC | 11.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 6.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 5.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09db87a538bd693e9d08544577d5ccfaa6373a48.png)ynETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-649/deposit) | ETH | 5.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 5.0% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV 2](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 14.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 11.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT | FOREX | 9.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 8.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 6.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 6.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 6.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 4.4% | ## Weekly Metrics ### crvUSD & scrvUSD The crvUSD minted supply continues to climb, posting a notable **4.2% increase** this week. This growth is particularly significant as it persists despite a slight struggle across broader crypto markets and the typical holiday lull. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $76.7M | +4.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 0.8% | +0.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 26.3% | \-8.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9994 | \-$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 1.0% | +0.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $57M | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $0 | \-$6.92k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics have once again mostly increased this week. The only exception is the amount of crvUSD supplied to markets, which decreased slightly as lenders rotate capital toward better yield opportunities currently available within Curve pools. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $228M | +2.3% | | 🦙 Supplied | $83.6M | \-0.6% | | 🦙 Borrowed | $146M | +3.2% | | 🦙 Collateral | $213M | +3.4% | | 🦙 Loans | 1202 | +14 | ### DEX [DEX pool](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance)'s saw a decline, mostly from an outflow of Sky's stUSDS in pools as they modified their incentive structure. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.42B | \-2.9% | | 🔄 Volume | $1.07B | \-19.3% | | 🔄 Swaps | 313k | \-19.0% | | 🔄 Total Fees | $141k | \-28.4% | ### DAO As volatility slows and crvUSD borrow rates remain low to incentivize supply expansion, veCRV holders saw a lower-than-usual distribution this week. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.46B | +1.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 859M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 794M | +0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $57.3k | \-47.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $858k (2.22M CRV) | +8.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.946% | \-0.005% | ## Top Stableswap Pools Demand for crvUSD continues to climb, with two of its pools now ranking in the top 10\. Additionally, USDS and PYUSD pools are seeing high demand this week, reflecting a strong appetite for these assets within the ecosystem. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $368.5M | $4.1k | | 2 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $64.9M | $6.5k | | 3 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $59.7M | $9.0k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $49.9M | $1.3k | | 5 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $29.8M | $3.0k | | 6 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $26.5M | $1.5k | | 7 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $24.8M | $474.5 | | 8 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $23.5M | $2.4k | | 9 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $22.0M | $2.6k | | 10 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-16/deposit) | $21.2M | $2.1k | ## Top Cryptoswap Pools As usual, the Tricrypto pools led the week in volume. The standout surprise was the YB/crvUSD pool, which jumped up seven spots in the rankings to secure a top position. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $20.9M | $9.3k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $16.6M | $7.2k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $13.6M | $13.1k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $10.2M | $4.9k | | 5 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $1.7M | $6.3k | | 6 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $1.7M | $6.3k | ## DEX Winners & Losers ### Fees Winners & Losers With the surge in YB demand, it led the week in terms of fee growth from swappers. PYUSD pools also saw strong growth for the week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $1.74M | $6.29k | +$4.22k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $369M | $4.15k | +$2.42k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $22M | $2.56k | +$1.63k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $5.86M | $586 | \-$7.18k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $59.7M | $8.96k | \-$7.57k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $13M | $2.66k | \-$9.59k | ### Volume Winners & Losers PYUSD pools led the week in volume growth, while stETH pools saw a decline in activity. This shift may be attributed to the ETH staking withdrawal queue reducing to less than four days, potentially lowering the immediate need for secondary market liquidity. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $369M | $4.15k | +$205M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $22M | $2.56k | +$12.9M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-16/deposit) | $21.2M | $2.12k | +$4.6M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $49.9M | $1.31k | \-$54.5M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $4.19M | $335 | \-$62.6M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $5.86M | $586 | \-$71.8M | ### TVL Winners & Losers DOLA continues to see strong TVL increases across Curve, while the hemiBTC pool also posted robust growth fueled by its generous incentives. Conversely, the [sUSDS/stUSDS pool](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/factory-stable-ng-627/deposit) experienced a large outflow this week as its specific incentive program concluded. However, significant opportunity remains in the other [USDS/stUSDS pool](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/factory-stable-ng-628/deposit), which is still offering over 18% APR. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $85M | +$4.05M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | $5.5M | +$3.75M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | $17.9M | +$3.05M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $25.1M | \-$5.53M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-628/deposit) | $13.8M | \-$21.7M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-627/deposit) | $5.23M | \-$57.8M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers With a negative real interest rate for borrowing against ETH staking derivatives, it’s no surprise they saw the highest growth this week. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $14.3M | $7.89M | +$1.57M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $2.04M | $1.14M | +$1.01M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $64.3M | $35.3M | +$846k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $478k | $150k | \-$14 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $11M | $7.16M | \-$130k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $33.6M | $18.9M | \-$223k | ### Lend Markets - Borrowing Winners & Losers The sDOLA and sreUSD markets both maintained their growth momentum this week. In contrast, several other staked stablecoin markets saw modest outflows as yields across the broader DeFi landscape continue to compress. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $32.1M | $25.9M | +$1.95M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $20.9M | $17.9M | +$671k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $990k | $748k | +$71.7k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $3.09M | $2.68M | \-$233k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $9.32M | $8.71M | \-$495k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $7.45M | $6.42M | \-$578k | ### Lend Markets - Supplying Winners & Losers sDOLA saw a notable increase in crvUSD supplied to its market this week. In contrast, sreUSD deviated from its usual trend, experiencing an outflow of supplied crvUSD which slightly pushed up borrow rates for remaining users. This marks the first time a single market has simultaneously landed in both the "winners" and "losers" categories within a single week. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $32.1M | $25.9M | +$1.81M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-10/vault/deposit) | $728k | $367k | +$41.1k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/lend/#/fraxtal/markets/one-way-market-0/vault/deposit) | $907k | $540k | +$33.8k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $20.9M | $17.9M | \-$469k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $7.45M | $6.42M | \-$559k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $9.32M | $8.71M | \-$640k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 52, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-52-2025/ Last updated: 2025-12-25T13:20:01.000Z ## 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*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Large crvUSD Markets | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $30.3M | 4.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $35.2M | 4.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $21.4M | 4.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $16.4M | 3.9% | ### Other Top USD Yields | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 19.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 16.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | Pool | 14.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 13.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/plasma.png "Plasma") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-plasma/0xb8ce59fc3717ada4c02eadf9682a9e934f625ebb.png)USDT0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-plasma/0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2.png)sUSDe](https://curve.finance/dex/plasma/pools/factory-stable-ng-1/deposit) | Pool | 12.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xde17a000ba631c5d7c2bd9fb692efea52d90dee2.png)USDN](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-354/deposit) | Pool | 12.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x677ddbd918637e5f2c79e164d402454de7da8619.png)VUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-212/deposit) | Pool | 11.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-628/deposit) | Pool | 9.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/lend/#/ethereum/markets/one-way-market-32/vault/deposit) | Llamalend | 9.1% | ### Top BTC & ETH Yields The top two markets below are offering the best yields of the week, with [Hemi](https://hemi.xyz/)'s BTC pool offering 64.3% and [CrossCurve](https://crosscurve.fi/)'s WETH ARB pool offering 23.6%. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 64.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve WETH ARB](https://www.curve.finance/dex/sonic/pools/factory-stable-ng-87/deposit) | ETH | 23.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xb0f70c0bd6fd87dbeb7c10dc692a2a6106817072.png)BTC.b](https://curve.finance/dex/monad/pools/factory-stable-ng-8/deposit) | BTC | 12.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09db87a538bd693e9d08544577d5ccfaa6373a48.png)ynETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-649/deposit) | ETH | 11.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 7.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 5.2% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 25.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 12.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 9.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 7.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 6.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | 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 | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $73.5M | +6.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 0.7% | \-1.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 34.9% | \-3.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9995 | \-$0.0003 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 0.9% | \-1.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $57M | +$25M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $6.92k | \-$778 | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) 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. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $223M | +3.4% | | 🦙 Supplied | $84.1M | \-1.1% | | 🦙 Borrowed | $141M | +1.5% | | 🦙 Collateral | $206M | +3.1% | | 🦙 Loans | 1188 | +11 | ### DEX [DEX pools](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) saw reduced volumes and fees this week as volatility was slightly muted for all Crypto markets. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.5B | \-0.7% | | 🔄 Volume | $1.32B | \-13.2% | | 🔄 Swaps | 386k | \-9.2% | | 🔄 Total Fees | $197k | \-17.9% | ### 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 | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.44B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 860M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 791M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $109k | \-4.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $793k (2.22M CRV) | \-5.8% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.95% | \-0.005% | ## Top Stableswap Pools | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $163.5M | $1.7k | | 2 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $110.2M | $16.5k | | 3 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $104.4M | $2.0k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $101.3M | $10.1k | | 5 | +9 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $77.6M | $7.8k | | 6 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $66.8M | $5.3k | | 7 | \-4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $56.9M | $12.3k | | 8 | \-6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $53.6M | $788.7 | | 9 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $52.4M | $5.2k | | 10 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $29.3M | $1.7k | ## Top Cryptoswap Pools | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $27.8M | $13.7k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $25.3M | $12.2k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $12.8M | $7.4k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $9.6M | $16.0k | | 5 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $1.7M | $5.7k | | 6 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x320623b8e4ff03373931769a31fc52a4e78b5d70.png)RSR](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-21/deposit) | $1.6M | $1.1k | ## DEX Winners & Losers ### Fees Winners & Losers | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $77.6M | $7.76k | +$6.24k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $66.8M | $5.34k | +$4.12k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $110M | $16.5k | +$4.01k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $52.4M | $5.24k | \-$4.69k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $9.55M | $16k | \-$4.94k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $56.9M | $12.3k | \-$12.3k | ### Volume Winners & Losers example | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $77.6M | $7.76k | +$62.4M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $164M | $1.73k | +$59.8M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $66.8M | $5.34k | +$51.4M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $52.4M | $5.24k | \-$46.9M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $56.9M | $12.3k | \-$61.9M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $53.6M | $789 | \-$77.4M | ### TVL Winners & Losers | 📍 | Chain | Pool | TVL | Change | | --- | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $90.1M | +$28.7M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $131M | +$2.72M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-628/deposit) | $35.5M | +$1.8M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xbfc94cd2b1e55999cfc7347a9313e88702b83d0f.png)WBTC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-1/deposit) | $2.57M | \-$5.6M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $35.2M | \-$5.97M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-252/deposit) | $206M | \-$16.3M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $62.5M | $34.5M | +$2.96M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $33.8M | $19.1M | +$945k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $12M | $6.33M | +$231k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $240k | $138k | \-$77.9 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $369k | $251k | \-$1.06k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $11.1M | $7.29M | \-$56.3k | ### Lend Markets - Borrowing Winners & Losers | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $30.3M | $23.9M | +$1.01M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.19M | $3.29M | +$110k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $3.35M | $2.92M | +$41.3k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $697k | $519k | \-$212k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $8.01M | $7M | \-$779k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $1.07M | $677k | \-$1.97M | ### Lend Markets - Supplying Winners & Losers | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $30.3M | $23.9M | +$1.79M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $21.4M | $17.2M | +$494k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.19M | $3.29M | +$101k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $697k | $519k | \-$174k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $8.01M | $7M | \-$595k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $1.07M | $677k | \-$2.1M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 51, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-51-2025/ Last updated: 2025-12-18T13:14:02.000Z ## Market Overview It’s the final week of yields before Christmas, and as always, there is plenty of yield to go around for all the good boys and girls in DeFi. While the broader DeFi space weathered a **5.6% decrease** this week, Curve’s TVL remained resilient, climbing **0.6% to $2.546B**. Outperforming the general market by over 6% is a massive win heading into the holidays. Check out all the highlighted opportunities and core metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Large crvUSD Markets *All highlighted markets below have more than $10M of TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $20.9M | 6.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $28.5M | 5.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $17.1M | 4.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $10.1M | 4.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $41.2M | 4.7% | ### Other Top USD Yields | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdc.png "Xdc") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0xfa2958cb79b0491cc627c1557f441ef849ca8eb1.png)USDC](https://curve.finance/dex/xdc/pools/factory-stable-ng-11/deposit) | Pool | 28.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdde3ec717f220fc6a29d6a4be73f91da5b718e55.png)USDU](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-596/deposit) | Pool | 27.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x4917a5ec9fcb5e10f47cbb197abe6ab63be81fe8.png)AZND![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x00000000efe302beaa2b3e6e1b18d08d69a9012a.png)AUSD](https://curve.finance/dex/monad/pools/factory-stable-ng-0/deposit) | Pool | 24.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 20.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 15.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 13.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09fd37d9aa613789c517e76df1c53aece2b60df4.png)ebUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-487/deposit) | Pool | 12.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | Pool | 11.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x10398abc267496e49106b07dd6be13364d10dc71.png)HAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x03569cc076654f82679c4ba2124d64774781b01d.png)BOLD](https://curve.finance/dex/#/optimism/pools/factory-stable-ng-81/deposit) | Pool | 10.9% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve WETH ARB](https://www.curve.finance/dex/sonic/pools/factory-stable-ng-87/deposit) | ETH | 32.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 14.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xb0f70c0bd6fd87dbeb7c10dc692a2a6106817072.png)BTC.b](https://curve.finance/dex/monad/pools/factory-stable-ng-8/deposit) | BTC | 9.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x005f893ecd7bf9667195642f7649da8163e23658.png)dgnETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-224/deposit) | ETH | 9.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | ETH | 7.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | 1.7% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 22.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 14.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 9.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT | FOREX | 8.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 7.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 6.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 3.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 2.3% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD supply from minting markets rose to **$69.4M (+0.9%)** despite a volatile week. The standout story, however, is the **PegKeepers**, which generated **$7.7k in profit** over the last seven days. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $69.4M | +0.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 1.7% | +0.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 38.5% | \-4.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9998 | \-$0.0002 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 2.2% | +1.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $32M | \-$40.3M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $7.7k | +$7.7k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics are a mixed bag this week. While total TVL dipped due to declining collateral prices, core usage metrics (supplied assets, borrowed assets, and total loan counts) all trended upward. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $215M | \-2.1% | | 🦙 Supplied | $85M | +2.4% | | 🦙 Borrowed | $139M | +0.9% | | 🦙 Collateral | $200M | \-2.9% | | 🦙 Loans | 1177 | +16 | ### DEX [DEX pool](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance)s saw a minor TVL decline, but all other growth metrics remain overwhelmingly positive across the board. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.51B | \-0.2% | | 🔄 Volume | $1.53B | +16.7% | | 🔄 Swaps | 425k | +17.8% | | 🔄 Total Fees | $240k | +1.4% | ### DAO The DAO saw a significant **23.3% jump** in veCRV distributions compared to last week. CRV emissions fell slightly, following the recent decline in CRV price, while all other metrics remained steady. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.44B | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 861M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 793M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $114k | +23.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $842k (2.22M CRV) | \-4.8% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.955% | \-0.005% | ## Top Stableswap Pools The main highlight this week is the surge in crvUSD usage: it facilitated over **$400M in volume** and was involved in **one out of every four swaps** on Curve over the week. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $135.9M | $1.9k | | 2 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $131.0M | $1.6k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $118.8M | $24.6k | | 4 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $106.9M | $10.7k | | 5 | \-4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $103.7M | $1.1k | | 6 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $99.3M | $9.9k | | 7 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $83.4M | $12.5k | | 8 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $51.5M | $3.0k | | 9 | +9 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-193/deposit) | $39.6M | $4.1k | | 10 | +9 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $30.6M | $3.3k | ## Top Cryptoswap Pools | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | -- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $33.4M | $17.4k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $31.3M | $15.6k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $14.0M | $10.2k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $9.1M | $20.9k | | 5 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x320623b8e4ff03373931769a31fc52a4e78b5d70.png)RSR](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-21/deposit) | $2.6M | $2.5k | | 6 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-2/deposit) | $2.0M | $6.0k | ## DEX Winners & Losers ### Fees Winners & Losers The 3pool led the pack for fee growth this week, followed closely by Ripple’s RLUSD. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $83.4M | $12.5k | +$6.31k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $119M | $24.6k | +$5.31k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $31.3M | $15.6k | +$4.1k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $9.15M | $20.9k | \-$4.45k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $6.96M | $1.79k | \-$5.04k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $1.17M | $4.04k | \-$7.66k | ### Volume Winners & Losers The Curve Strategic Reserves (USDC/USDT) and the 3pool led volume growth. Meanwhile, Lido’s stETH pool saw a decline in activity as [validator entry and exit queues have shortened](https://www.validatorqueue.com/). | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $131M | $1.64k | +$44.2M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $83.4M | $12.5k | +$42.1M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $136M | $1.93k | +$36.7M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $19.7M | $1.99k | \-$21.1M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $104M | $1.08k | \-$27.8M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $15.2M | $1.52k | \-$32.4M | ### TVL Winners & Losers Large inflows and outflows were driven by PegKeepers removing liquidity from the USDC pool and depositing into the USDT pool. YieldBasis’s cbBTC pool was the week's standout performer, doubling its TVL. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-252/deposit) | $222M | +$117M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $61.4M | +$21.3M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x99cd4ec3f88a45940936f469e4bb72a2a701eeb9.png)stUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-627/deposit) | $62M | +$7.54M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $71.1M | \-$8.42M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $128M | \-$15.5M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $45.8M | \-$59.3M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers As LTVs tightened slightly for the WETH market, users rotated into wstETH and BTC-backed markets. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $56.4M | $31.5M | +$3M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $11M | $6.1M | +$1.3M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $2.99M | $1.95M | +$142k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $5.45M | $3.81M | \-$59.1k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $11.3M | $7.34M | \-$226k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $32.1M | $18.2M | \-$3.53M | ### Lend Markets - Borrowing Winners & Losers The sDOLA market continues to climb and increase demand, adding **$1.4M** in TVL this week. Conversely, the sUSDe market continued its decline in popularity as yields compressed. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $28.5M | $22.9M | +$1.4M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.16M | $2.65M | +$107k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $20.9M | $17.3M | +$53.4k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $725k | $425k | \-$114k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $10.1M | $9.18M | \-$172k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $3.49M | $2.88M | \-$500k | ### Lend Markets - Supplying Winners & Losers sDOLA again led crvUSD lend supplied growth with a **$1.87M** increase, while sreUSD also saw a strong showing with a **$1.14M** gain. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $28.5M | $22.9M | +$1.87M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $20.9M | $17.3M | +$1.14M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.16M | $2.65M | +$139k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-14/vault/deposit) | $56.7k | $21.1k | \-$49.2k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $8.6M | $7.78M | \-$499k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $3.49M | $2.88M | \-$592k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 50, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-50-2025/ Last updated: 2025-12-11T13:52:52.000Z ## Market Overview Don't worry that the year is almost over, because Curve yields will be around for another 300 years, keep earning with Curve. Here's the weekly news: - TVL has increased 0.2% to $2.529B. - c[rvUSD is getting a change in monetary policy](https://news.curve.finance/inside-crvusd-borrow-rate/) - The [$1B crvUSD loan vote to YieldBasis is ongoing](https://www.curve.finance/dao/ethereum/proposals/1279-ownership), but set to pass overwhelmingly with the highest quorum ever seen in a veCRV vote. See all the highlighted yields and metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### High TVL crvUSD Yields *All pools and lending markets below have at least $10M TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $19.8M | 8.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $10.1M | 6.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $26.6M | 5.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $17.3M | 5.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $38.2M | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $105M | 4.0% | ### Top USD Yields | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x48f9e38f3070ad8945dfeae3fa70987722e3d89c.png)iUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-465/deposit) | Pool | 38.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdde3ec717f220fc6a29d6a4be73f91da5b718e55.png)USDU](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-596/deposit) | Pool | 32.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/lend/#/ethereum/markets/one-way-market-32/vault/deposit) | Llamalend | 22.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09fd37d9aa613789c517e76df1c53aece2b60df4.png)ebUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-487/deposit) | Pool | 19.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 17.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x2c03058c8afc06713be23e58d2febc8337dbfe6a.png)USDT](https://curve.finance/dex/etherlink/pools/factory-stable-ng-0/deposit) | Pool | 17.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdc.png "Xdc") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0xfa2958cb79b0491cc627c1557f441ef849ca8eb1.png)USDC](https://curve.finance/dex/xdc/pools/factory-stable-ng-11/deposit) | Pool | 16.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 15.6% | ### Top BTC & ETH Yields The HemiBTC pool has a huge yield of 32.4% this week, and its TVL has increased to over $400k. | Chain | Market | Asset | Yield | | ------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x06ea695b91700071b161a434fed42d1dcbad9f00.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | 32.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xbfc94cd2b1e55999cfc7347a9313e88702b83d0f.png)WBTC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-1/deposit) | BTC | 9.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x005f893ecd7bf9667195642f7649da8163e23658.png)dgnETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-224/deposit) | ETH | 9.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 9.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xb0f70c0bd6fd87dbeb7c10dc692a2a6106817072.png)BTC.b](https://curve.finance/dex/monad/pools/factory-stable-ng-8/deposit) | BTC | 8.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | ETH | 8.2% | ### Other Top Yields People like the Frankencoin's ZCHF/crvUSD yields, with the TVL has tripling in a week. It's no wonder, as the new FXSwap pool technology is the same that YieldBasis was built upon. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 27.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 13.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 11.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT | FOREX | 11.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 8.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 7.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 3.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3231cb76718cdef2155fc47b5286d82e6eda273f.png)EURe](https://curve.finance/dex/#/ethereum/pools/factory-v2-231/deposit) | EUR | 2.3% | ## Weekly Metrics ### crvUSD & scrvUSD Another great week again for crvUSD minting, with over $6M minted. It's no wonder as borrow rates have remained under 1% for a few weeks now. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $68.8M | +11.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 1.4% | \-6.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 42.7% | \-26.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $1.0 | \-$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 0.4% | +0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $72.3M | \-$21.4M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $0 | \-$3.99k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics have largely been positive, with only the amount of crvUSD supplied reducing slightly. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $220M | +2.8% | | 🦙 Supplied | $83M | \-0.7% | | 🦙 Borrowed | $138M | +3.8% | | 🦙 Collateral | $206M | +2.3% | | 🦙 Loans | 1161 | \-8 | ### DEX [DEX pool](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance)s saw a marginal increase in TVL, however it was a slow week for pools, as many assets saw low volatility and low trade volumes. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.52B | +0.1% | | 🔄 Volume | $1.31B | \-31.4% | | 🔄 Swaps | 361k | \-10.2% | | 🔄 Total Fees | $237k | \-1.3% | ### DAO Due to cheap crvUSD minting rates and low volatility creating low DEX fees, the DAO saw a smaller than usual veCRV distribution, but all other metrics largely remained the same. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.43B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 860M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 792M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $92.4k | \-5.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $885k (2.22M CRV) | \-3.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.96% | \-0.005% | ## Top Stableswap Pools Once again USDS pools topped the list for the top stableswap pools by volume. The DAI/USDC/USDT pool saw lower than usual volumes as well; however all other pools stayed similar to previous weeks. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $131.5M | $1.4k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $99.2M | $1.7k | | 3 | +11 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $95.1M | $19.3k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $86.8M | $1.3k | | 5 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $83.1M | $8.3k | | 6 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $74.3M | $7.4k | | 7 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $47.7M | $4.8k | | 8 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $42.6M | $2.6k | | 9 | \-5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $41.3M | $6.2k | | 10 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $40.7M | $4.1k | ## Top Cryptoswap Pools There was no change at all within the rankings of the top Cryptoswap pools by volume this week. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | -- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $25.8M | $14.7k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $19.4M | $11.5k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $13.6M | $7.9k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $12.7M | $25.4k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $3.4M | $11.7k | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $2.3M | $7.2k | | 7 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x320623b8e4ff03373931769a31fc52a4e78b5d70.png)RSR](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-21/deposit) | $1.9M | $1.4k | | 8 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-2/deposit) | $1.4M | $4.1k | | 9 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae78736cd615f374d3085123a210448e74fc6393.png)rETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-14/deposit) | $987.1k | $429.3 | | 10 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9.png)USD₮0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/tricrypto/deposit) | $911.6k | $634.8 | ## DEX Winners & Losers ### Fees Winners & Losers RLUSD saw a huge increase in fees this week, possibly to due to an up-spike in demand from Ripple's stock sale news. It's also great to see YB here on this list, as large fees for veYB holders start flowing, creating demand. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $95.1M | $19.3k | +$15.1k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $12.7M | $25.4k | +$7.46k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $3.36M | $11.7k | +$4.69k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-274/deposit) | $7.3M | $2.92k | \-$4.71k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $47.7M | $4.77k | \-$6.23k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $41.3M | $6.2k | \-$11.6k | ### Volume Winners & Losers RLUSD also topped the winners in terms of volume, with the USDai coin in 2nd, and USDS pools losing compared to last week's volumes, but interestingly they still led the week in terms of total volume. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $95.1M | $19.3k | +$74.3M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $40.7M | $4.14k | +$17.1M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $42.6M | $2.59k | +$14.2M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $41.3M | $6.2k | \-$77.6M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $132M | $1.36k | \-$169M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $99.2M | $1.68k | \-$201M | ### TVL Winners & Losers A triple crown for the RLUSD/USDC pool this week, as it also increased its TVL the most out any pool. As usual, the crvUSD PegKeeper pools had normal fluctuations in TVL from their PegKeeper depositing/withdrawing liquidity actions. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $82.9M | +$6.78M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $38.2M | +$5.75M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8daebade922df735c38c80c7ebd708af50815faa.png)TBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeb4c2781e4eba804ce9a9803c67d0893436bb27d.png)renBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfe18be6b3bd88a2d2a7f928d00292e7a9963cfc6.png)sBTC](https://curve.finance/dex/#/ethereum/pools/tbtc/deposit) | $4.85M | +$4.63M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x73a15fed60bf67631dc6cd7bc5b6e8da8190acf5.png)USD0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x35d8949372d46b7a3d5a56006ae77b215fc69bc0.png)bUSD0](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-189/deposit) | $22.6M | \-$4.06M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1202f5c7b4b9e47a1a484e8b270be34dbbc75055.png)wstUSR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-568/deposit) | $42.3M | \-$5.21M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $105M | \-$9.2M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers No market had a net outflow for the week, a huge achievement for crvUSD and its dynamic and automatic system. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $39.7M | $21.7M | +$4.83M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $9.95M | $4.8M | +$1.44M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $2.86M | $1.8M | +$505k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $380k | $252k | +$12.1k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $262k | $138k | +$2.56k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $508k | $150k | +$37.7 | ### Lend Markets - Borrowing Winners & Losers The sDOLA market continues its march with another positive and huge increase in the amount borrowed, at the same time that other stablecoin markets saw outflows. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $26.6M | $21.5M | +$730k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.07M | $3.23M | +$146k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $10.1M | $9.35M | +$134k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $4.09M | $3.38M | \-$417k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $19.8M | $17.2M | \-$886k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $9.1M | $7.89M | \-$1.16M | ### Lend Markets - Supplying Winners & Losers As always, the supply and amount borrowed seem to move together, with this table perfectly mimicking the borrowed winners & losers chart. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $26.6M | $21.5M | +$1M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.07M | $3.23M | +$191k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $10.1M | $9.35M | +$149k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $4.09M | $3.38M | \-$187k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $19.8M | $17.2M | \-$254k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $9.1M | $7.89M | \-$1.15M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Inside crvUSD Borrow Rate URL: https://news.curve.finance/inside-crvusd-borrow-rate/ Last updated: 2025-12-10T16:20:45.000Z Ahead of the Llamalend V2 launch, crvUSD’s borrow rate is undergoing important updates aimed at making the borrowing experience on Llamalend significantly smoother. Curve already offers great features such as liquidation protection and very high LTVs, but user feedback has consistently highlighted one major friction point: **borrow-rate volatility**. Even when the average cost of borrowing was reasonable, the rapid swings in the rate made the experience unpredictable and often discouraged users from opening loans. This volatility was further amplified by recent changes around crvUSD. New mint-market integrations such as YieldBasis partly increased the variability of PegKeeper debt and, as a result, contributed to sharper rate fluctuations. This article focuses specifically on the mint markets, where users mint crvUSD and pay the borrow rate. Borrow rates in user-supplied lending pools are based solely on market utilization and are not covered here. Importantly, **while the rate often felt high, perception did not match reality**. When comparing the effective cost of borrowing USDC on Aave versus borrowing crvUSD on Curve using WBTC or WETH as collateral, the average borrow rate over the past year was **identical at 6.83 percent**. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/12/aave_vs_curve.jpeg) 365-day borrow rate comparison: USDC on AAVE vs crvUSD on Curve. Recognizing this, and with the goal of making borrowing more stable and intuitive, [LlamaRisk](https://x.com/LlamaRisk) and [Pangea](https://x.com/in%5Fpangea) conducted a detailed analysis and proposed a series of targeted improvements. Curve DAO approved these changes on December 3rd, following the governance proposal outlined here: [Adjust Parameters (TargetFraction and rate0) for crvUSD Monetary PolicySummary Curve’s new mint markets introduce a parallel issuance channel for crvUSD that operates outside the PegKeeper mint–burn stabilisation loop. As these credit lines expanded - especially via YieldBasis -peg volatility increased, PegKeeper activity became more erratic, and mint-market debt contracted. Borrow rates in crvUSD mint markets are highly volatile compared to competitors, suppressing demand and amplifying system instability. Analysis shows that falling total debt causes the PegKeep…![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/8b124f7d448c2829ce00fa7212028ee695140a1e_2_32x32-9.svg)Curve.finance GovernanceLlamaRisk![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/2c6acf13541bd13f21a5b28a95470d3e75e43e52_2_1024x557.png)](https://gov.curve.finance/t/adjust-parameters-targetfraction-and-rate0-for-crvusd-monetary-policy/10939) ## crvUSD Borrow Rates Explained The crvUSD borrow rate is the primary tool Curve uses to help maintain the stablecoin’s peg. If borrowing becomes too cheap, users can mint crvUSD and sell it, pushing the price below $1\. If borrowing becomes too expensive, users avoid taking loans, reducing usage and weakening competitiveness. To balance this, the monetary policy adjusts the borrow rate dynamically based on market conditions, most importantly the price of crvUSD: - **Above peg (> $1.00):** rates decrease to incentivize borrowing and selling crvUSD, bringing the price back down. - **Below peg (< $1.00):** rates increase to incentivize users to buy crvUSD and repay loans, pushing the price back up. This makes crvUSD’s peg mechanism primarily incentive-driven, not intervention-driven. ### Peg Stabilization Reserve (PSR) The **Peg Stabilization Reserve (PSR)**, formerly known as PegKeepers, complements the interest-rate mechanism. It allows permissionless minting or withdrawing of crvUSD into specific pools depending on the price and balances of the pools: - **Above $1.00:** PSR mints crvUSD into pools, increases liquidity, and pushes the price down. - **Below $1.00:** PSR withdraws crvUSD from pools, reduces liquidity, and pushes the price up. The size of the PSR directly affects rate dynamics. A larger reserve tends to lower borrow rates, while a smaller reserve tends to raise them. ## **Rates in Depth and What Is Changing** Let’s get a bit more technical to understand the upcoming changes. crvUSD’s borrow rate is set by the following monetary policy formula: ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/12/Screenshot-2025-12-10-at-15.29.34.png) where ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/12/Screenshot-2025-12-10-at-15.30.22.png) and ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/12/Screenshot-2025-12-10-at-15.30.59.png) The price term behaves predictably. The recent volatility came mainly from the debt fraction term. When total crvUSD debt falls, `PegKeeperDebt/TotalDebt` ratio naturally becomes larger and more unstable. Because this term is subtracted in the formula, even small swings in PSR balance caused disproportionately large swings in the final borrow rate. An interactive tool that lets you explore how the crvUSD borrow rate responds to different parameters is available here: The expansion of mint-market credit lines like YieldBasis amplified this effect. These markets introduce issuance and repayment flows outside the normal PSR mint and burn loop, which caused the PSR to fluctuate more aggressively. ## What Was Approved and Why It Matters To stabilize the borrow rate and improve competitiveness, Curve DAO voted in two key parameter changes on December 3rd ([Proposal #1269](https://www.curve.finance/dao/ethereum/proposals/1269-ownership)): - **Increasing `TargetFraction` from 0.20 to 0.2667**, which reduces how strongly the rate responds to changes in PSR size. This directly smooths the main source of volatility without changing the core peg mechanism. - **Lowering `rate0` by 10 percent**, which makes borrowing cheaper and more competitive. This encourages more borrowing activity and increases total system debt, which also stabilizes the PSR ratio and reduces rate fluctuations. These changes represent the first step in a broader effort to modernize crvUSD’s monetary policy. A third lever, **EMA smoothing for the borrow rate**, is already being explored and is likely to become the next improvement to the system. Smoothing would reduce short-term spikes by averaging rates over time, while keeping the monetary policy responsive to meaningful shifts in crvUSD demand. One approach currently being worked on is applying a longer-term EMA specifically to the PegKeeper debt ratio, smoothing the term `PegKeeperDebt/TotalDebt`. Curve founder [Michael Egorov](https://x.com/newmichwill) suggested using a **three-week EMA** for this ratio, which would significantly dampen short-lived fluctuations in PSR activity while still preserving responsiveness to crvUSD price changes. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/12/ema.png) Work on EMA smoothing will continue in parallel with monitoring the newly approved parameters. Once the short-term impact of the recent updates is understood, EMA smoothing is expected to be the next major refinement to further stabilize the borrow rate. ## Conclusion The approved adjustments to crvUSD’s monetary policy are an important step toward making Llamalend borrowing more predictable and user-friendly. By reducing sensitivity to PSR movements and lowering the baseline borrowing rate, Curve has smoothed out the biggest source of volatility while preserving the self-correcting peg mechanism that makes crvUSD unique. These upgrades directly improve the borrowing experience. Llamalend users can expect steadier rates and clearer incentives, especially as Llamalend V2 expands access to new collateral types and markets. Curve will continue monitoring the system and is prepared to refine the parameters further to ensure that crvUSD remains stable, scalable, and competitive across the broader DeFi landscape. The direction is clear: a smoother, more reliable borrowing experience that unlocks Llamalend’s full potential. Ready to borrow? [Go to Llamalend! ](https://www.curve.finance/llamalend/ethereum/markets) --- ### Curve Best Yields & Key Metrics | Week 49, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-49-2025/ Last updated: 2025-12-04T14:36:01.000Z ## Market Overview It's been a **very positive week for Curve**, with key metrics seeing significant gains: - **TVL has climbed to $2.528B, marking a strong 6.7% increase.** - **New FXSwap Pool:** A new pool has launched, facilitating swaps between **crvUSD and ZCHF (Swiss Francs)**. This is [Frankencoin's new pool](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit), utilizing the FXSwap pool type which is optimized for **low-volatility assets like national currencies**. - **crvUSD Minting Optimization:** To help borrowers predict costs more easily, parameters in crvUSD minting markets [have been optimized to reduce interest rate volatility](https://gov.curve.finance/t/adjust-parameters-targetfraction-and-rate0-for-crvusd-monetary-policy/10939). - **crvUSD Supply Surge:** Minted supply in crvUSD markets increased by **12.6%** this week, driven by borrowing rates nearing **0% interest**. See the highlighted yields and all the metrics below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Large crvUSD Markets *All the markets highlighted below have more than $10M in TVL.* | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) | $42.6M | 7.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $20M | 6.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $32.5M | 5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $114M | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $25.6M | 5.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $10.2M | 5.0% | ### Other Top USD Yields | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdde3ec717f220fc6a29d6a4be73f91da5b718e55.png)USDU](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-596/deposit) | Pool | 45.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 25.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 19.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x2c03058c8afc06713be23e58d2febc8337dbfe6a.png)USDT](https://curve.finance/dex/etherlink/pools/factory-stable-ng-0/deposit) | Pool | 18.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdc.png "Xdc") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0xfa2958cb79b0491cc627c1557f441ef849ca8eb1.png)USDC](https://curve.finance/dex/xdc/pools/factory-stable-ng-11/deposit) | Pool | 16.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x4917a5ec9fcb5e10f47cbb197abe6ab63be81fe8.png)AZND![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x00000000efe302beaa2b3e6e1b18d08d69a9012a.png)AUSD](https://curve.finance/dex/monad/pools/factory-stable-ng-0/deposit) | Pool | 16.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 16.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x00000000efe302beaa2b3e6e1b18d08d69a9012a.png)AUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x754704bc059f8c67012fed69bc8a327a5aafb603.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xe7cd86e13ac4309349f30b3435a9d337750fc82d.png)USDT0](https://curve.finance/dex/monad/pools/factory-stable-ng-2/deposit) | Pool | 15.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0d86883faf4ffd7aeb116390af37746f45b6f378.png)USD3![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-503/deposit) | Pool | 15.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0ed3359902eff692e5b8167038133a73d641909.png)USDFI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-527/deposit) | Pool | 14.6% | ### Top BTC & ETH Yields The hemiBTC pool below is a new pool, currently with over 300% APR in CRV, however it currently only has a small TVL of $38k, which is why it wasn't highlighted in the title image. Get in fast for the yields! | Chain | Market | Asset | Yield | | ------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://curve.finance/images/default-crypto.png)hemiBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-625/deposit) | BTC | \>100% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x0555e30da8f98308edb960aa94c0db47230d2b9c.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xb0f70c0bd6fd87dbeb7c10dc692a2a6106817072.png)BTC.b](https://curve.finance/dex/monad/pools/factory-stable-ng-8/deposit) | BTC | 13.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xbfc94cd2b1e55999cfc7347a9313e88702b83d0f.png)WBTC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-1/deposit) | BTC | 10.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd11c452fc99cf405034ee446803b6f6c1f6d5ed8.png)tETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-270/deposit) | ETH | 9.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd11c452fc99cf405034ee446803b6f6c1f6d5ed8.png)tETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-302/deposit) | ETH | 7.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | ETH | 7.6% | ### Other Top Yields With the launch of [Frankencoin](https://frankencoin.com/)'s new [crvUSD/ZCHF pool](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-276/deposit), we've added some Forex pool yields below. Note that the ZCHF pool is the new FXSwap pool type, specifically built for efficiency for low-volatility swaps like forex. Its design ensures great prices for traders and **maximizes LP profitability** automatically. As a Liquidity Provider, you can **sit back and relax**, earning passive yields with full-range liquidity. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb58e61c3098d85632df34eecfb899a1ed80921cb.png)ZCHF](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-276/deposit) | FOREX | 40.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 28.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 17.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xcb444e90d8198415266c6a2724b7900fb12fc56e.png)EURe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xe91d153e0b41518a2ce8dd3d7944fa863463a97d.png)WXDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0xddafbb505ad214d7b80b1f830fccc89b60fb7a83.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdai/0x4ecaba5870353805a9f068101a40e0f32ed605c6.png)USDT](https://www.curve.finance/dex/xdai/pools/eureusd/deposit) | FOREX | 13.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1cfa5641c01406ab8ac350ded7d735ec41298372.png)CJPY](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-4/deposit) | FOREX | 9.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 7.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 3.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 2.7% | ## Weekly Metrics ### crvUSD & scrvUSD Despite recent market volatility, **Curve's peg stability mechanisms for crvUSD have performed exceptionally well.** The [recent parameter changes to crvUSD markets](https://gov.curve.finance/t/adjust-parameters-targetfraction-and-rate0-for-crvusd-monetary-policy/10939) are expected to deliver **more stable borrowing rates**, with further improvements currently being researched. It is no surprise that the strong performance and current **low borrowing rates** have driven the crvUSD minted supply to grow by **over 12%** this week. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $61.7M | +12.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 7.3% | \-0.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 69.1% | \-6.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $1.0001 | +$0.0003 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 0.2% | \-0.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $93.8M | +$47.6M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $3.99k | +$3.53k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics are mostly positive this week. Supplied crvUSD has decreased slightly, as borrowers move to mint from the cheaper minting markets. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $214M | +6.8% | | 🦙 Supplied | $83.6M | \-4.5% | | 🦙 Borrowed | $133M | +3.8% | | 🦙 Collateral | $201M | +8.4% | | 🦙 Loans | 1169 | \-7 | ### DEX [DEX pool](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) metrics are a mixed bag, on one hand TVL has increased over 7%, however it was a slower than usual week for swaps, volume and fees. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.51B | +7.3% | | 🔄 Volume | $1.91B | \-35.6% | | 🔄 Swaps | 402k | \-27.0% | | 🔄 Total Fees | $240k | \-46.4% | ### DAO Due to the crvUSD rates being so low, and DEX volumes being lower than usual, veCRV holders saw a lower than usual distribution this week. However, the value of CRV emissions increased due to a slight increase in CRV price. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.43B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 861M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 793M | \-0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $97.7k | \-62.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $917k (2.22M CRV) | +3.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.965% | \-0.004% | ## Top Stableswap Pools weETH and fxUSD made appearances in the list this week, but otherwise it was all the usual suspects here, with USDS pools once again topping the volumes. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $300.9M | $3.2k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $300.2M | $4.5k | | 3 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $149.5M | $1.7k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $118.9M | $17.8k | | 5 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $110.0M | $11.0k | | 6 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $105.7M | $10.6k | | 7 | \-4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $86.6M | $8.7k | | 8 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $51.4M | $4.1k | | 9 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-193/deposit) | $44.8M | $5.4k | | 10 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $28.4M | $2.1k | ## Top Cryptoswap Pools Just a small reshuffle between the top Cryptoswap pools this week. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $20.4M | $13.1k | | 2 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $14.5M | $9.8k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $13.7M | $7.6k | | 4 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $5.5M | $17.9k | | 5 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $1.8M | $7.0k | | 6 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $1.8M | $5.8k | ## DEX Winners & Losers ### Fees Winners & Losers With the unfortunate hack on yETH due to it's custom Stableswap pool logic, the pool saw high usage. However, luckily, because this was a custom pool with unique logic, no other Stableswap pools are at risk. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-274/deposit) | $19.1M | $7.63k | +$6.91k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1bed97cbc3c24a4fb5c069c6e311a967386131f7.png)yETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-347/deposit) | $5.74M | $1.81k | +$1.7k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-193/deposit) | $44.8M | $5.42k | +$1.67k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $20.8M | $4.19k | \-$25.7k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $12.6M | $3.63k | \-$28k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $5.55M | $17.9k | \-$37.7k | ### Volume Winners & Losers Curve's strategic USD reserves pool saw high volumes this week, and frxETH to stETH liquidity was also in high demand. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $149M | $1.75k | +$45.7M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-274/deposit) | $19.1M | $7.63k | +$17.3M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-193/deposit) | $44.8M | $5.42k | +$8.61M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $12.6M | $3.63k | \-$99.7M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $20.8M | $4.19k | \-$121M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $300M | $4.48k | \-$360M | ### TVL Winners & Losers Flows in and out of PegKeeper pools mean they showed up at the top and bottom of this list. With the stETH pool also having significant increases in TVL due to the ETH price once again increasing. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $114M | +$79.8M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $143M | +$8.32M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $32.5M | +$6.24M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1e33e98af620f1d563fcd3cfd3c75ace841204ef.png)DUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-580/deposit) | $19.5M | \-$2.18M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe343167631d89b6ffc58b88d6b7fb0228795491d.png)USDG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbdc7c08592ee4aa51d06c27ee23d5087d65adbcd.png)USDL](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-582/deposit) | $3M | \-$3M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $40.8M | \-$29.6M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers After significant falls in the ETH price, leading to closed loans, borrowers have started appearing and taking advantage of the near 0% interest rates available. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $33.3M | $16.9M | +$7.05M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $7.4M | $3.36M | +$385k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $5.99M | $3.76M | +$153k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $377k | $240k | \-$265 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $2.07M | $1.3M | \-$17.4k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $12.2M | $7.49M | \-$737k | ### Lend Markets - Borrowing Winners & Losers Both sreUSD and sDOLA markets continue to show strength week on week from borrowers, even as some other stablecoin markets see outflows. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $20M | $18.1M | +$1.03M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $25.6M | $20.8M | +$443k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $156k | $93.9k | +$30.5k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $9.95M | $9.22M | \-$189k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $4.27M | $3.79M | \-$520k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $10.2M | $9.05M | \-$2.28M | ### Lend Markets - Supplying Winners & Losers The sDOLA market also saw a significant increase to it's loaned crvUSD supply. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $25.6M | $20.8M | +$1.03M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $156k | $93.9k | +$38.5k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/lend/#/fraxtal/markets/one-way-market-1/vault/deposit) | $341k | $219k | +$22.4k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $20M | $18.1M | \-$474k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $4.27M | $3.79M | \-$875k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $10.2M | $9.05M | \-$2.35M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Monthly Recap November, 2025 URL: https://news.curve.finance/curve-monthly-recap-november-2025/ Last updated: 2025-12-02T15:38:24.000Z ### **Key Highlights of November** - Liquidation protection deep-dive and case study - Emergency DAO multisig authority expanded - New **stUSDS** pools deployed by Sky - YieldBasis pools enabled leverage for crvUSD markets - Swiss Stake quarterly grant report - crvUSD trading volume reached new highs - Curve launched on **Monad** - **Ethereum Protocol Advocacy Alliance** --- ### **Liquidation Protection** **LlamaLend’s liquidation protection** redefines how liquidations work by replacing sudden wipeouts with a controlled, step-by-step process. Instead of being liquidated at a fixed price, positions enter a protection range where LLAMMA gradually converts collateral to crvUSD (and vice versa) as prices go down increases, helping stabilize the loan. This **gives borrowers time to react, repay, or adjust their positions** — often surviving market dips that would instantly liquidate them elsewhere. The system is driven by ***health***, not LTV, and conversions inside the range can partially reverse when prices recover. Losses accumulate only during prolonged volatility, and full liquidation occurs solely when health reaches zero — not when price crosses a specific threshold. A detailed case study from November showed a large ETH-backed position staying open for **an entire week of violent market swings**, even falling below its liquidation range without being liquidated. The user had multiple opportunities to repay debt, restored the loan’s health, and ultimately closed the position voluntarily. **Despite extreme turbulence, the position avoided instant liquidation penalties and preserved most of its collateral value.** This example highlights how liquidation protection provides borrowers with resilience, control, and time by turning extreme volatility into a manageable process rather than a sudden loss. Read more here: ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/12/liq-protection.webp) ### **Emergency DAO Multisig** With crvUSD now diversifying its backing through **YieldBasis** and **Resupply**, and with the potential for further scale, strong checks and balances are increasingly important to ensure protocol safety. A new [proposal](https://www.curve.finance/dao/ethereum/proposals/1252-ownership) expands the **Emergency DAO’s authority**, giving the multisig and the DAO shared control over several critical risk parameters to ensure fast, safe responses to market stress. - **Mint Factory:** - Reduce, but never increase, debt ceilings for any component relying on crvUSD minting (including YB, FlashMinter, etc.). - **Controller (Llamalend markets):** - Adjust AMM fees. - Modify monetary policy. - Update the liquidity-mining callback. - Manage borrowing discounts (without triggering liquidation for any users). - **Vaults:** - Set deposit limits. ### **New stUSDS Pools on Curve - Actually Two** After the [Spark.fi PYUSD Reserve](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-561/deposit) pool ($103M TVL) and the [Spark.fi USDT Reserve](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-411/deposit) pool ($50M TVL) were established on Curve and proved themselves to be fundamental pillars for USDS onchain liquidity, a new [sUSDS/stUSDS pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-627/deposit) was deployed by Sky alongside 500,000 USDS in incentives for the next three months. Unfortunately, the pool was deployed with incorrect settings. stUSDS was treated as a regular ERC-20 instead of an ERC-4626 vault token. This caused the pool to become heavily imbalanced; not dangerous at all for LPs, but not functional as a trading pool, effectively acting as a supply sink for stUSDS. > for anyone wondering what was misconfigured: > > Curve pools can be setup to track yield generating assets, e.g. [$sUSDS](https://twitter.com/search?q=%24sUSDS&src=ctag&ref%5Fsrc=twsrc%5Etfw), [$sUSDe](https://twitter.com/search?q=%24sUSDe&src=ctag&ref%5Fsrc=twsrc%5Etfw), etc. > > As they generate yield, you need to move the center of liquidity to the new fair trade value between the assets, for example here's the [$crvUSD](https://twitter.com/search?q=%24crvUSD&src=ctag&ref%5Fsrc=twsrc%5Etfw) /… [pic.twitter.com/IfzoikaeWO](https://t.co/IfzoikaeWO) > > — Saint Rat (@saint\_rat) [November 30, 2025](https://twitter.com/saint%5Frat/status/1995007438542795104?ref%5Fsrc=twsrc%5Etfw) Shortly after, the Sky team deployed a [corrected sUSDS/stUSDS pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-628/deposit), again with 500k USDS in incentives. This new version uses the proper pool parameters and functions normally for both swaps and liquidity provision. > A new USDS/stUSDS pool has been deployed on [@CurveFinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw) with 500,000 USDS in incentives over three months for liquidity providers. > > This new pool is designed to build supporting liquidity between USDS and stUSDS, functioning as the intended discount market for stUSDS. > > The old… [pic.twitter.com/BPnoJtMbWO](https://t.co/BPnoJtMbWO) > > — Sky (@SkyEcosystem) [November 29, 2025](https://twitter.com/SkyEcosystem/status/1994863064206733440?ref%5Fsrc=twsrc%5Etfw) ### **YieldBasis Pools for BTC Market Leverage** The original Bitcoin crvUSD markets, which previously lacked access to deep and liquid routes for leverage, now integrate **YieldBasis pools**. This enables users to create leveraged BTC positions with minimal slippage and deeper liquidity routing. > Thanks to [@yieldbasis](https://twitter.com/yieldbasis?ref%5Fsrc=twsrc%5Etfw) pools, OG BTC mint markets can now leverage in size swapping right on Curve [pic.twitter.com/wbBlW7ADAc](https://t.co/wbBlW7ADAc) > > — Curve Finance (@CurveFinance) [November 15, 2025](https://twitter.com/CurveFinance/status/1989595622375051486?ref%5Fsrc=twsrc%5Etfw) ### **Quarterly Swiss Stake Grant Report** Swiss Stake, the main company behind the development of Curve, released its quarterly update covering progress across LlamaLend V2, FXSwap, and Curve’s cross-chain infrastructure. LlamaLend received its largest upgrade yet, adding broader asset support like non-crvUSD lending markets, stronger risk controls, and simpler integrations, while FXSwap moved from internal testing into early pilot use after simulations and audits. The team also expanded backend and frontend capabilities, improved multi-chain monitoring, and supported new deployments on TAC, Etherlink, and Hyperliquid. Business development, educational efforts, and global event participation continued to drive adoption. Swiss Stake expects remaining grant funds to cover several more months of operations, with a follow-up proposal planned for early 2026. [Quarterly Progress Report: June 2025 - August 2025Grant Period: June 2025 - August 2025 1\. Executive Summary Covering the period from June to August 2025, the fourth quarter of the Curve Ecosystem Grant marked steady progress across core initiatives. Over the past few months, Swiss Stake AG focused on advancing several core protocol developments, strengthening cross-chain capabilities, and supporting Curve’s broader ecosystem growth. Major technical progress was achieved with the continued development of Llamalend V2 and FXSwap. Llamalend V2…![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/8b124f7d448c2829ce00fa7212028ee695140a1e_2_32x32-8.svg)Curve.finance Governancemichwill![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/236e8d42f0282109552eb0849f8987a75ca5b51b-3.png)](https://gov.curve.finance/t/quarterly-progress-report-june-2025-august-2025/10931) ### crvUSD Trading Volume Surges On November 17th, crvUSD recorded the third-highest daily stablecoin volume — trailing only USDT and USDC. Much of this activity stems from YieldBasis mechanics, which generate trading flows as BTC price moves. > Ok. crvUSD is third stablecoin by volume after USDC and USDT on Ethereum. Wow! [pic.twitter.com/x7lsq4WbMy](https://t.co/x7lsq4WbMy) > > — Curve Finance (@CurveFinance) [November 17, 2025](https://twitter.com/CurveFinance/status/1990382301474349217?ref%5Fsrc=twsrc%5Etfw) ### Curve Live on Monad End of October, Curve launched on **Monad**, bringing deep stablecoin liquidity to a high-performance EVM-compatible Layer 1 optimized for efficient execution and low-latency interactions. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/12/monad.png) ### Curve joins the Ethereum Advocacy Alliance Curve joined the newly formed **Ethereum Protocol Advocacy Alliance (EPAA)**, a coalition of leading Ethereum teams working together to protect and advance the Ethereum protocol. The alliance focuses on public-policy education, defending open smart-contract execution, and ensuring Ethereum remains a neutral, permissionless global settlement layer. > We are joining Ethereum Protocol Advocacy Alliance! [pic.twitter.com/PdjZ3ChJLR](https://t.co/PdjZ3ChJLR) > > — Curve Finance (@CurveFinance) [November 5, 2025](https://twitter.com/CurveFinance/status/1986080490093244855?ref%5Fsrc=twsrc%5Etfw) --- ### Curve Best Yields & Key Metrics | Week 48, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-48-2025/ Last updated: 2025-11-27T15:15:52.000Z ## 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](https://news.curve.finance/curve-live-on-monad/), with some great yields available, some shown below - 650k crvUSD has been minted to fund the [FastBridge](https://gov.curve.finance/t/fastbridge-for-crvusd-from-l2s/10833), which will help users bypass the 7 day delays on L2 native bridges - Read the deep dive into [Llamalend's Liquidation Protection](https://news.curve.finance/liquidation-protection-making-volatile-markets-manageable/) 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*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Yields | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) | $41.6M | 7.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $24.1M | 7.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $34.4M | 6.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $70.3M | 6.6% | ### Other Top USD Yields | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x4917a5ec9fcb5e10f47cbb197abe6ab63be81fe8.png)AZND![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x00000000efe302beaa2b3e6e1b18d08d69a9012a.png)AUSD](https://curve.finance/dex/monad/pools/factory-stable-ng-0/deposit) | Pool | 55.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdc.png "Xdc") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0xfa2958cb79b0491cc627c1557f441ef849ca8eb1.png)USDC](https://curve.finance/dex/xdc/pools/factory-stable-ng-11/deposit) | Pool | 37.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/monad.png "Monad") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x00000000efe302beaa2b3e6e1b18d08d69a9012a.png)AUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0x754704bc059f8c67012fed69bc8a327a5aafb603.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-monad/0xe7cd86e13ac4309349f30b3435a9d337750fc82d.png)USDT0](https://curve.finance/dex/monad/pools/factory-stable-ng-2/deposit) | Pool | 28.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x2c03058c8afc06713be23e58d2febc8337dbfe6a.png)USDT](https://curve.finance/dex/etherlink/pools/factory-stable-ng-0/deposit) | Pool | 25.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0ed3359902eff692e5b8167038133a73d641909.png)USDFI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-527/deposit) | Pool | 21.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 19.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 18.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-1/vault/deposit) | Llamalend | 16.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-501/deposit) | Pool | 14.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/kava.png "Kava") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-kava/0x7f5373ae26c3e8ffc4c77b7255df7ec1a9af52a6.png)axlUSDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-kava/0x919c1c267bc06a7039e03fcc2ef738525769109c.png)USDt](https://curve.finance/dex/#/kava/pools/factory-v2-13/deposit) | Pool | 14.9% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x3bce5cb273f0f148010bbea2470e7b5df84c7812.png)scETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x43edd7f3831b08fe70b7555ddd373c8bf65a9050.png)frxETH](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-26/deposit) | ETH | 18.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve WETH ARB](https://www.curve.finance/dex/sonic/pools/factory-stable-ng-87/deposit) | ETH | 13.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xbfc94cd2b1e55999cfc7347a9313e88702b83d0f.png)WBTC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-1/deposit) | BTC | 12.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | ETH | 10.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 3.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x972966bcc17f7d818de4f27dc146ef539c231bdf.png)DBIT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-581/deposit) | BTC | 1.6% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 36.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd1b5651e55d4ceed36251c61c50c889b36f6abb5.png)sdCRV](https://curve.finance/dex/#/ethereum/pools/factory-v2-300/deposit) | CRV | 16.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 8.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 6.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 2.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 2.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | 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 | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $54.8M | \-32.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 7.5% | \-2.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 75.9% | +30.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9998 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 0.4% | \-11.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $46.2M | +$46.2M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $457 | \-$1.83k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) metrics have decreased, mostly due to the decrease in crvUSD supply. | Metric | Value | Change | | ---------------- | ----- | ------- | | 🦙 Llamalend TVL | $201M | \-13.4% | | 🦙 Supplied | $88M | \-5.8% | | 🦙 Borrowed | $128M | \-18.4% | | 🦙 Collateral | $186M | \-13.1% | | 🦙 Loans | 1176 | \-26 | ### DEX [DEX pool](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance)s have seen a mostly positive week, with TVL and volume both increasing. | Metric | Value | Change | | ------------ | ------ | ------ | | 🔄 TVL | $2.34B | +2.5% | | 🔄 Volume | $2.96B | +21.5% | | 🔄 Swaps | 551k | \-3.8% | | 🔄 Fees Paid | $447k | \-5.6% | ### 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 | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.43B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 862M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 796M | +0.6% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $261k (4.3% APR) | +7.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $888k (2.22M CRV) | \-8.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)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 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $660.2M | $12.0k | | 2 | +6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $335.0M | $3.8k | | 3 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $167.1M | $16.7k | | 4 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $148.8M | $22.3k | | 5 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $141.6M | $29.9k | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $128.6M | $12.9k | | 7 | +12 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $112.3M | $31.7k | | 8 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $103.8M | $1.3k | | 9 | \-5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $101.5M | $10.1k | | 10 | +10 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $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 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $60.9M | $33.5k | | 2 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $34.6M | $55.6k | | 3 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $30.7M | $17.6k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $18.1M | $13.0k | | 5 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-2/deposit) | $3.2M | $7.8k | | 6 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $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 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $112M | $31.7k | +$27.1k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $660M | $12k | +$9.73k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $76.7M | $7.86k | +$5.62k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $33.8M | $3.21k | \-$5.87k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $142M | $29.9k | \-$9.96k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $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 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $660M | $12k | +$535M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $335M | $3.76k | +$213M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $112M | $31.7k | +$94.4M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-193/deposit) | $36.2M | $3.75k | \-$50.6M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $33.8M | $3.21k | \-$93.5M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $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 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $70.3M | +$42.7M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $76.4M | +$10.9M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $34.4M | +$6.18M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $134M | \-$3.11M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1e33e98af620f1d563fcd3cfd3c75ace841204ef.png)DUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-580/deposit) | $21.7M | \-$3.64M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-178/deposit) | $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 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $367k | $241k | \- | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $473k | $150k | +$286 | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $242k | $136k | \-$3.84k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $50.5M | $28.3M | \-$488k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $12.6M | $8.23M | \-$862k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $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 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $24.6M | $20.4M | +$82.1k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $3.89M | $3.26M | +$72.6k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $117k | $63.4k | +$32.9k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $998k | $676k | \-$228k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $20.5M | $17.1M | \-$798k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $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 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $117k | $63.4k | +$57.5k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x050c24dbf1eec17babe5fc585f06116a259cc77a.png)IBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-15/vault/deposit) | $65.7k | $61.4k | +$4.87k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/lend/#/fraxtal/markets/one-way-market-0/vault/deposit) | $898k | $618k | +$2.8k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $20.5M | $17.1M | \-$634k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $12.6M | $11.3M | \-$1M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $3.19M | $2.69M | \-$1.51M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Liquidation Protection: Making Volatile Markets Manageable URL: https://news.curve.finance/liquidation-protection-making-volatile-markets-manageable/ Last updated: 2025-11-26T19:00:34.000Z **TL;DR** Llamalend turns liquidations from sudden wipeouts into a **slow, and controllable process**. Instead of a hard liquidation price, positions enter a liquidation range where collateral is gradually adjusted to keep the loan alive as long as health stays above 0. - No single liquidation price — **health** determines liquidation, not LTV. - Inside the protection range, LLAMMA **gradually adjusts the collateral**, not all at once. - Borrowers get **time to react**, often surviving dips that would instantly liquidate on other platforms. - Case study: a large ETH loan survived **7 days of extreme volatility** without liquidation. --- Volatile markets are one of the biggest risks when taking out onchain loans. Prices can collapse in seconds, and on many lending platforms, a single sharp move can liquidate a user before they even have time to respond. Llamalend’s **liquidation protection** solves this problem. Instead of liquidating a position the moment it reaches a specific price, Llamalend gives borrowers **time, flexibility, and breathing room**. Even during the extremest market swings, the system often manages to keep a loan alive automatically. This turns the liquidation experience on its head. A sudden, irreversible liquidation becomes a **gradual and predictable process**. With Llamalend, borrowers can: - navigate extreme conditions with much higher resilience - increase their odds of surviving flash crashes and sudden volatility - adjust or repay their loan before it is too late - remain safe even when the market briefly dips below their “liquidation price” - avoid surprise liquidation spikes ****Liquidation protection is one of the most powerful and misunderstood mechanisms in Llamalend:** ****\- Health** is the only factor that determines liquidation. ****\- Liquidation protection range** triggers gradual conversions, not instant liquidation. ****\- Losses only occur inside the range**, and they accumulate with volatility. Now let’s look at how it actually works. ## Liquidation Protection Liquidation protection in Llamalend works differently from systems that use a fixed liquidation price. There is **no single price** at which your loan suddenly disappears. A position is only liquidated when its **health reaches 0%**. ****Important notice:** in Llamalend, health is not a direct correlation of LTV. To prevent health from collapsing instantly during volatility, every loan is given a **liquidation range**, defined by two price points. When the market price enters this range, the system begins **gradually adjusting your collateral** to keep the loan stable. The **Liquidation Range** is defined by: - the **Liquidation Threshold**, which is the price below which liquidation begins — essentially the start of the liquidation range. - the **Bottom of the Liquidation Range**, where collateral has been fully converted. Important: this is **not** the price at which a position becomes fully liquidated. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/11/Frame-1171274768--2-.png) Here is what happens when the collateral price inside the range: - **When prices fall**, the system automatically and gradually **sells off parts of your collateral asset** (for example ETH) **for crvUSD**. This reduces exposure to the falling asset and helps preserve the value supporting loans. - **When prices rise** again, the system uses the **previously obtained crvUSD to buy back the initial collateral**, restoring part of the original asset balance. These adjustments happen continuously and automatically while the price moves up and down inside the range. Instead of a sudden liquidation at a single price, the loan is stabilized through **small, ongoing conversions** that give users more time to act. However, these conversions come with a cost. Because the system needs to incentivize arbitrage traders to perform them, each conversion incurrs a slight loss. When the market moves up and down inside the range, these losses accumulate and gradually reduce your health. This can happen both on the way down and on the way back up. The more volatility and the less liquidity in the liquidation zone, the faster health gets eroded. But as long as **health stays above 0%**, the loan survives. Only when health reaches zero — regardless of the current price — is the position fully liquidated. The good news is that users have full control over the health of the loan: - If the loan is **not yet in liquidation protection**, they can prevent entering the zone by adding collateral or repaying debt, which shifts the liquidation range downward. - If the loan **is already inside liquidation protection**, repaying so me debt immediately increases health and slows further conversion. 📑 You want to learn more? Check out the docs: [Liqudiation Protection](https://docs-curvedocs.vercel.app/user/llamalend/liquidation-protection/how-it-works). Need more convenience in monitoring your loan and watching your health? Check out the [LLamalend Telegram Monitoring Bot](https://news.curve.finance/llamalend-telegram-bot/)! In short, liquidation protection turns sudden liquidation into a controlled, step-by-step process that helps borrowers manage volatility rather than be wiped out by it. ### **Quick Reference** | **Concept** | **What It Means** | | | | | | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------- | -------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------------- | ------------------------------------------ | ------------------ | | **Liquidation Protection Range** | A price zone where the system starts protecting your position by adjusting collateral. It is not a hard liquidation price. | **Liquidation Protection** | When price enters the liquidation protection range, your collateral is gradually converted to keep the loan stable. Conversions reverse when price recovers. | | | | | **Health** | A measure of how close you are to full liquidation. At **0**, the position is closed. Above 0, the loan survives. | | | | | | | **Full Liquidation** | Happens only when health reaches 0, regardless of the collateral price. | | | | | | | **Losses in Protection** | Each conversion incurs small losses that accumulate with volatility. Losses do not revert even if prices return to the top of the range. | | | | | | | Case Study: User 0x…9abdThis case study shows how liquidation protection kept a large loan alive during one of the most volatile weeks of late 2025\. The position survived extended periods below its liquidation protection range, something that would normally result in an immediate liquidation on most lending platforms. 0:00 /1:19 1× The graphic shows the user’s liquidation protection from 13–24 November 2025\. The “oracle price” refers to Llamalend’s EMA oracle, not spot price. The green and blue bars represent the liquidation range ($3,200–$2,900) and the user’s shifting collateral composition. Status at the StartOn 13 November 2025 the user held 9,942.545 ETH (valued at 31,390,004.75 USD) as collateral and had borrowed 27,510,720.93 crvUSD. Market conditions were already unstable and volatility was rising quickly.Entering Liquidation ProtectionOn 13 November at around 20:30 UTC, the price of ETH fell into the user’s liquidation protection range. The loan entered the range with 3.02 health, and the system started converting ETH into crvUSD to protect the position.Inside the range, price fluctuated repeatedly. The user’s health rose and fell with price but continued trending downward. This is expected. Losses accumulate inside the liquidation protection range whenever trades occur, both when price goes down and when it recovers. This erodes collateral over time, impacting the position's ability to survive volatility.This slow decline is part of how liquidation protection works: it replaces sudden, all-at-once liquidations (often with large penalties) with a smooth, controlled process.Repaying Some DebtOver the next three days, as health moved closer to zero, the user took action. Across four transactions, the user paid off around 1.2 million crvUSD debt to improve the position's health and increasing its odds of surviving.This increased health from roughly 1.14 to 5.78, creating a much larger safety buffer. Liquidation protection kept the loan alive long enough for the user to intervene, even though the price stayed inside the liquidation range for more than a week during extreme volatility.The loan remained open the entire time.Market Crashes FurtherOn 20 November, ETH dropped sharply to around 2,600 USD. At this point, the oracle price fell below the user’s entire liquidation protection range. LLAMMA had now converted all remaining ETH into crvUSD.Once fully converted:No additional losses occurred because the collateral was entirely stable and outside the liquidation rangeThe loan remained protected as long as price stayed below the liquidation rangeHowever, this state is temporary. If ETH rises back into the protection range, LLAMMA begins converting crvUSD back into ETH, which reintroduces losses impacting health. If health drops to zero during this recovery, liquidation can still occur on the way up.Monitoring health during a rebound is just as important as monitoring it during the decline.An Interesting Surprise: Market-Making ProfitsWhen a loan enters liquidation protection, its collateral sits inside LLAMMA, the automated market maker that performs conversions. LLAMMA uses bands, similar to concentrated liquidity. A large borrower often owns most of the liquidity in the active bands, so unusually large trades can temporarily improve the user’s position.That is exactly what happened here.Between blocks 23844310 and 23844327, the user’s health increased from 0.64 to 1.9 due to one massive trade routed through LLAMMA.The Key Trades in Block 23844318: | Tx Hash | Sold | Amount Sold | Bought | Amount Bought | Notes | | **dd2609a7…785ba** | **WETH** | **3,509.06** | crvUSD | **9,299,110.10** | *Huge WETH → crvUSD buy; dominates volume* | | | **a3586ba1…8179** | **crvUSD** | **1,255,357.62** | WETH | **469.18** | crvUSD → WETH sell | | | The first trade was unusually impactful:Effective price paid: 2,650.03 crvUSD per ETHChainlink ETH oracle at the same block: 2,846.42 USDRouting such a large trade through LLAMMA temporarily shifted its internal price. Because the user provided most of the liquidity in that band, this deviation increased the total value of their collateral.Why the big trade helpedThe user owned most of the liquidity in the active LLAMMA band. When the huge WETH to crvUSD trade hit the AMM at an unfavorable price, the user effectively sold ETH above the oracle price. This increased their collateral value and boosted loan health before arbitrage trades corrected the price.Follow-Up Arbitrage Activity (Blocks 23844319 – 23844328)Arbitrage traders quickly restored LLAMMA’s price toward the real ETH market price. | Block | Trades | crvUSD Sold | WETH Sold | Total Volume (USD) | Net Flow Direction | | **23844319** | 5 | 4,437,569 | 0 | 4,437,569 | crvUSD → WETH | | | **23844320** | 8 | 1,390,670 | 0 | 1,390,670 | crvUSD → WETH | | | **23844321–23844328** | 44 | 1,712,835 | 0 | 1,712,835 | crvUSD → WETH | | | These trades gradually arbitraged LLAMMA’s price back to the spot ETH price.Impact on the Loan's Collateral Value | Block | Date & Time | Total Collateral Value | | | | | 23844310 - 23844317 | 2025-11-21 02:08:59 | 28,243,659.55 | | | | | | 23844318 | 2025-11-21 02:09:23 | 29,119,794.21 | | | | | | 23844319 | 2025-11-21 02:09:35 | 28,709,456.80 | | | | | | 23844320 | 2025-11-21 02:09:47 | 28,644,318.83 | | | | | | The large trade increased collateral value by about 1M USD. Follow-up arbitrage reduced this by about 600k USD, leaving the user with a net gain of roughly 400k USD, a rare but possible outcome for large LLAMMA liquidity providers.Closing the PositionOn November 24th, while the position was still below the liquidation protection range, the user chose to close the loan manually.To close the position, 26,412,885 crvUSD from the collateral was used to repay the outstanding debt. The remaining 2,185,149 crvUSD was sent back to the user’s wallet.At this point, the collateral consisted entirely of crvUSD because the loan had already moved through the full liquidation protection range, converting all 9,942.545 ETH into stable collateral. The total collateral value at closure was 28,598,034.72 crvUSD, compared to 31,390,004.75 USD when liquidation protection began, which corresponds to an overall reduction of about 8.9%.Notably, this reduction is broadly in line with the underlying ETH price movement inside the protection range itself — roughly $3,200 down to $2,900, a decline of about 9.9%. While LLAMMA losses don’t always match the size of the market move exactly (since they depend on band count, AMM curvature, and the price path), the similarity here provides helpful context for interpreting the outcome.LLAMMA not only reduced the downside but even delivered about a 1% relative gain compared to simply holding ETH — a remarkable outcome that highlights the value of liquidation protection.These losses may look high because the user selected only 10 bands, which creates a narrow protection range and faster conversion. More bands spread conversions out and usually reduce losses.But crucially, the user was not liquidated — they only incurred partial conversion losses instead of losing the entire position plus penalties, as would happen in a traditional liquidation.A subtle but important detail: ETH buying power was largely preservedAlthough the user ended with an 8.9% loss in USD terms, the picture looks very different when viewed in ETH terms. By the time the loan was closed, the remaining 28.6 million crvUSD in collateral was enough to buy roughly 10,034 ETH at the prevailing price of about $2,850 per ETH.In other words, the remaining collateral at closure was enough to buy more ETH than the position originally held as collateral, which started with 9,942 ETH.The user did repay 1.2 million crvUSD earlier, when ETH was around 3,100 dollars, which corresponds to about 387 ETH in value at the time. Including this repayment gives an effective starting exposure of around 10,329 ETH. Compared to this figure, the closing value represents almost the same ETH exposure despite a major market crash and seven days inside liquidation protection.This illustrates one of the understated strengths of liquidation protection: it may preserve a user’s ability to regain nearly the same amount of collateral at much lower prices, rather than losing everything in an instant-liquidation event.ConclusionThis loan stayed open for seven full days inside liquidation protection range during one of the most volatile market periods of late 2025\. Despite repeated price swings, crashes, recoveries, and arbitrage activity, the position’s health never reached zero, and the position was never fully liquidated.Liquidation protection turned what would normally have been an instant liquidation into a long, manageable process. The user had:time to react even during sharp crashesmultiple opportunities to repay or adjustprotection during extended periods below their traditional “liquidation price”the ability to exit the loan voluntarily on their own termsEven after passing through the entire protection range and converting fully to crvUSD, the loan remained open until the user chose to close it manually.This case demonstrates the power of liquidation protection:It transforms liquidation from a sudden, irreversible event into a gradual, survivable process that gives users real control over their positions, even in the most extreme market conditions. | | | | | | | ### Curve Live On Monad URL: https://news.curve.finance/curve-live-on-monad/ Last updated: 2025-11-24T15:13:56.000Z ## Why Monad Monad is a next-generation EVM-compatible chain that delivers high throughput, fast finality, low fees, and scalable decentralization. The network is designed to support substantial onchain activity while maintaining a consistent and predictable user experience when it comes to fees. ## What Curve Brings Curve’s DEX infrastructure deployment allows for deep, efficient, and reliable liquidity that supports asset issuers, protocols, and users to establish, grow, and maintain onchain asset liquidity. The deployment includes: - **Full DEX Deployment:** Smart contracts for Stableswap and Cryptoswap pools, enabling efficient and capital-optimized trading across a wide range of assets. - **Permissionless Pool Creation:** Asset issuers and protocols can launch pools for stablecoins, liquid staking tokens, and other tokenized assets, enabling low-slippage trading from the outset. - **Interface Integration:** Direct integration into the Curve frontend, allowing users to access pools on Monad through the same interface used across other networks. Three pools are already live with Merkel incentives: - [AZND/AUSD](https://www.curve.finance/dex/monad/pools/factory-stable-ng-0/deposit) - [muBOND/AUSD](https://www.curve.finance/dex/monad/pools/factory-stable-ng-1/deposit) - [3pool](https://www.curve.finance/dex/monad/pools/factory-stable-ng-2/deposit) ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/11/Screenshot-2025-11-24-at-16.12.08.png) ## **What Comes Next** As the Monad ecosystem grows, additional pools and integrations will be added. Curve’s presence on the network will continue to expand in line with new applications launching on Monad and the evolving needs of users interacting with the chain. Ready to explore? [Curve on Monad ](https://www.curve.finance/dex/monad/pools/) --- ### Curve Best Yields & Key Metrics | Week 47, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-47-2025/ Last updated: 2025-11-20T16:07:03.000Z ## 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](https://resupply.fi/)'s increased [crvUSD credit line proposal was successful](https://gov.curve.finance/t/raise-lending-limit-of-crvusd-to-the-sreusd-lending-market-to-15m/10928) and it is now in use within the [sreUSD lending market](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9/create). Furthermore, a vote for a further increase to [YieldBasis](https://yieldbasis.com/)'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*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *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 | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) | $36.9M | 10.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $27.6M | 6.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $23.6M | 5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $28.2M | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $2.82M | 3.2% | ### Other Top USD Yields | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdc.png "Xdc") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0xfa2958cb79b0491cc627c1557f441ef849ca8eb1.png)USDC](https://curve.finance/dex/xdc/pools/factory-stable-ng-11/deposit) | Pool | 43.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09fd37d9aa613789c517e76df1c53aece2b60df4.png)ebUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-487/deposit) | Pool | 33.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x2c03058c8afc06713be23e58d2febc8337dbfe6a.png)USDT](https://curve.finance/dex/etherlink/pools/factory-stable-ng-0/deposit) | Pool | 25.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 20.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 19.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xd3dce716f3ef535c5ff8d041c1a41c3bd89b97ae.png)scUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-25/deposit) | Pool | 19.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0ed3359902eff692e5b8167038133a73d641909.png)USDFI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-527/deposit) | Pool | 16.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 15.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/plasma.png "Plasma") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-plasma/0xb8ce59fc3717ada4c02eadf9682a9e934f625ebb.png)USDT0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-plasma/0x5d3a1ff2b6bab83b63cd9ad0787074081a52ef34.png)USDe](https://curve.finance/dex/plasma/pools/factory-stable-ng-0/deposit) | Pool | 15.0% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x3bce5cb273f0f148010bbea2470e7b5df84c7812.png)scETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x43edd7f3831b08fe70b7555ddd373c8bf65a9050.png)frxETH](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-26/deposit) | ETH | 31.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xbfc94cd2b1e55999cfc7347a9313e88702b83d0f.png)WBTC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-1/deposit) | BTC | 13.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve WETH ARB](https://www.curve.finance/dex/sonic/pools/factory-stable-ng-87/deposit) | ETH | 13.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 8.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 2.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 1.7% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 36.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV 2](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 15.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 9.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 7.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 2.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 2.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | 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 | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $81.1M | \-14.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 10.4% | +2.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 45.5% | +8.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9994 | \-$0.0005 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 11.9% | +9.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $22.2k | \-$28.9M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $2.29k | +$1.16k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) has seen a significant increase with the amount supplied, mostly due increases in the sDOLA and sreUSD markets. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $233M | \-3.3% | | 🦙 Supplied | $93.4M | +19.5% | | 🦙 Borrowed | $157M | \-3.5% | | 🦙 Collateral | $215M | \-6.6% | | 🦙 Loans | 1202 | \-81 | ### DEX [DEX pool](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance)'s were a mixed bag. TVL and volumes were down, but number of swaps and total fees paid by swappers increased. | Metric | Value | Change | | ------------ | ------ | ------- | | 🔄 TVL | $2.29B | \-6.9% | | 🔄 Volume | $2.44B | \-11.8% | | 🔄 Swaps | 573k | +8.9% | | 🔄 Fees Paid | $474k | +13.5% | ### 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 | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.43B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 862M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 791M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $244k | \-23.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $966k (2.22M CRV) | \-7.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)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 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $254.9M | $38.2k | | 2 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $199.9M | $20.0k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $175.0M | $39.8k | | 4 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $130.9M | $13.1k | | 5 | +8 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $127.4M | $9.1k | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $127.2M | $12.7k | | 7 | \-6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $125.5M | $2.3k | | 8 | \-6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $121.7M | $1.3k | | 9 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-193/deposit) | $86.8M | $9.4k | | 10 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $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 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $55.4M | $30.8k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $34.0M | $20.0k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $29.5M | $55.0k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $20.2M | $13.3k | | 5 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x320623b8e4ff03373931769a31fc52a4e78b5d70.png)RSR](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-21/deposit) | $3.0M | $2.4k | | 6 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-2/deposit) | $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 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $29.5M | $55k | +$25.7k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $55.4M | $30.8k | +$14.4k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $255M | $38.2k | +$12k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $175M | $39.8k | \-$8.91k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xaf5191b0de278c7286d6c7cc6ab6bb8a73ba2cd6.png)STG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-crypto-37/deposit) | $862k | $2.8k | \-$9.07k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-391/deposit) | $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 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $200M | $20k | +$106M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $127M | $9.08k | +$94.6M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $255M | $38.2k | +$79.9M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $122M | $1.31k | \-$102M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $67M | $1.16k | \-$145M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $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 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $13.3M | +$11.9M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1202f5c7b4b9e47a1a484e8b270be34dbbc75055.png)wstUSR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-568/deposit) | $46.4M | +$11.6M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $65.4M | +$3.44M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $74.6M | \-$14.8M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $138M | \-$23.5M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $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 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $14.5M | $9.09M | +$677k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $270k | $140k | +$2.44k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $471k | $150k | +$83.3 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $2.29M | $1.52M | \-$1.27M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $47.9M | $34.2M | \-$4.57M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $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 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $21.1M | $17.9M | +$6.58M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $25M | $20.3M | +$2.73M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-14/vault/deposit) | $217k | $121k | +$100k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $5.79M | $4.41M | \-$271k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-10/vault/deposit) | $1.21M | $664k | \-$293k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $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 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $21.1M | $17.9M | +$8.35M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $25M | $20.3M | +$6.32M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $13.6M | $11.3M | +$1.45M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $1.04M | $833k | \-$125k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-10/vault/deposit) | $1.21M | $664k | \-$198k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $1.24M | $904k | \-$337k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 46, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-46-2025/ Last updated: 2025-11-13T14:10:08.000Z ## Market Overview Markets have stabilized this week, and TVL has started to increase once again. Curve currently has a **TVL of $2.532B, up 1.4%** from last week. There's never been a better time to set and forget your yields within a crvUSD pool, or stay extra comfy and simply stake crvUSD into scrvUSD. As always Curve has some of the best yields available in DeFi, and this week is no different. Check out the top 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*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools These pools offer some great yields for even the biggest LPs, paired with some of the safest USD stablecoins available. The risk/reward is hard to beat. | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $25.6M | 5.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $55.5M | 4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $32.5M | 4.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $6.53M | 2.2% | ### Other Top USD Yields | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-599/deposit) | Pool | 209.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09fd37d9aa613789c517e76df1c53aece2b60df4.png)ebUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-487/deposit) | Pool | 67.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01ba69727e2860b37bc1a2bd56999c1afb4c15d8.png)ynRWAx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-578/deposit) | Pool | 57.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdc.png "Xdc") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0xfa2958cb79b0491cc627c1557f441ef849ca8eb1.png)USDC](https://curve.finance/dex/xdc/pools/factory-stable-ng-11/deposit) | Pool | 46.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x2c03058c8afc06713be23e58d2febc8337dbfe6a.png)USDT](https://curve.finance/dex/etherlink/pools/factory-stable-ng-0/deposit) | Pool | 32.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-518/deposit) | Pool | 27.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/plasma.png "Plasma") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-plasma/0xb8ce59fc3717ada4c02eadf9682a9e934f625ebb.png)USDT0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-plasma/0x5d3a1ff2b6bab83b63cd9ad0787074081a52ef34.png)USDe](https://curve.finance/dex/plasma/pools/factory-stable-ng-0/deposit) | Pool | 23.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 20.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/plasma.png "Plasma") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-plasma/0xb8ce59fc3717ada4c02eadf9682a9e934f625ebb.png)USDT0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-plasma/0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2.png)sUSDe](https://curve.finance/dex/plasma/pools/factory-stable-ng-1/deposit) | Pool | 17.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/kava.png "Kava") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-kava/0x7f5373ae26c3e8ffc4c77b7255df7ec1a9af52a6.png)axlUSDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-kava/0x919c1c267bc06a7039e03fcc2ef738525769109c.png)USDt](https://curve.finance/dex/#/kava/pools/factory-v2-13/deposit) | Pool | 16.7% | ### Top BTC & ETH Yields There's some great yields available this week for BTC and ETH pools, with [CrossCurve's frxETH FRAXTAL](https://www.curve.finance/dex/sonic/pools/factory-stable-ng-105/deposit?ref=news.curve.finance) pool currently offering 98% yield, but as it only has $24k TVL, we normalize yields at a minimum $100k TVL. | Chain | Market | Asset | Yield | | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve frxETH FRAXTAL](https://www.curve.finance/dex/sonic/pools/factory-stable-ng-87/deposit) | ETH | 23.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xbfc94cd2b1e55999cfc7347a9313e88702b83d0f.png)WBTC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-1/deposit) | BTC | 14.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve WETH ARB](https://www.curve.finance/dex/sonic/pools/factory-stable-ng-87/deposit) | ETH | 12.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 6.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/base/pools/factory-stable-ng-317/deposit) | BTC | 2.4% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 26.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 14.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 7.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 2.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.5% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD supply increased **6.4%** this week through Curve’s minting markets as borrowing rates moved lower. If BTC and ETH markets remain stable, and as YieldBasis YB incentives continue flowing to crvUSD pools, further growth in crvUSD supply is very likely. | Metric | Value | Change | | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Minted | $94.8M | +6.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD Yield | 8.3% | +4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD | 37.3% | +3.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9999 | +$0.0005 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 2.6% | \-9.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $28.9M | +$28.9M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)PegKeeper Profit | $1.13k | \-$4.18k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance)'s TVL has increased this week, while the amount of crvUSD supplied decreased. It is likely that users shifted to the premier crvUSD pools, where the current risk–reward profile is more attractive. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $240M | +2.2% | | 🦙 Supplied | $78.1M | \-8.1% | | 🦙 Borrowed | $163M | +0.8% | | 🦙 Collateral | $230M | +3.4% | | 🦙 Loans | 1283 | \-69 | ### DEX [DEX pools](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) saw an increase in TVL this week along with higher swap counts, while volume and fees decreased as markets stabilized, which is the expected pattern after volatility eases. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.46B | +1.5% | | 🔄 Volume | $2.76B | \-19.4% | | 🔄 Swaps | 526k | +5.7% | | 🔄 Total Fees | $418k | \-23.0% | ### DAO The DAO saw a very significant distribution this week, up 62% over last week. All other metrics have remained steady. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.42B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 863M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 791M | \-0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $317k | +62.6% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $1.04M (2.22M CRV) | +1.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.978% | \-0.005% | ## Top Stableswap Pools [Sky](https://sky.money/)'s USDS pools have once again topped the week in terms of volumes. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $735.2M | $10.0k | | 2 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $224.2M | $2.7k | | 3 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $219.7M | $48.7k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $212.3M | $2.5k | | 5 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $175.0M | $26.2k | | 6 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $94.6M | $9.5k | | 7 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $93.5M | $9.3k | | 8 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $67.6M | $6.8k | | 9 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-193/deposit) | $57.8M | $6.0k | | 10 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $55.1M | $4.4k | ## Top Cryptoswap Pools As usual the Tricrypto pools topped the week, however it's great to see the STG pool as a new addition to the top Cryptoswap pools by volumes. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $27.8M | $16.4k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $23.3M | $13.2k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $20.8M | $15.1k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $16.4M | $29.3k | | 5 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xaf5191b0de278c7286d6c7cc6ab6bb8a73ba2cd6.png)STG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-crypto-37/deposit) | $3.6M | $11.9k | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $3.3M | $11.7k | ## DEX Winners & Losers ### Fees Winners & Losers In terms of raw fees paid by swappers, **USDf** saw the largest increase this week. The **STG** and **ALCX** Cryptoswap pools followed closely, supported by price increases in their underlying assets. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-391/deposit) | $38.9M | $14.4k | +$7.67k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xaf5191b0de278c7286d6c7cc6ab6bb8a73ba2cd6.png)STG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-crypto-37/deposit) | $3.63M | $11.9k | +$5.14k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdbdb4d16eda451d0503b854cf79d55697f90c8df.png)ALCX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-crypto-96/deposit) | $2.02M | $8.22k | +$4.49k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $16.4M | $29.3k | \-$11.5k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $2.34M | $9.1k | \-$12.1k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $175M | $26.2k | \-$16k | ### Volume Winners & Losers **USDf** and **cbBTC/tBTC** both saw a resurgence in volume this week. The **4pool on Base** (three types of USDC plus crvUSD) also recorded very strong volumes and high liquidity utilization. In contrast, the **DAI/USDC/USDT** pool on Ethereum, which has a higher fee and is designed for larger swaps, typically cools down when volatility is low, which is why it appears as the loser this week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-391/deposit) | $38.9M | $14.4k | +$20.7M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | $20.5M | $2.17k | +$11.2M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xd9aaec86b65d86f6a7b5b1b0c42ffa531710b6ca.png)USDbC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xeb466342c4d449bc9f53a865d5cb90586f405215.png)axlUSDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-v2-1/deposit) | $13.7M | $137 | +$7.29M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $67.6M | $6.76k | \-$51.1M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $735M | $10k | \-$66.3M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $175M | $26.2k | \-$106M | ### TVL Winners & Losers The crvUSD PegKeeper pools naturally experience TVL fluctuations as PegKeepers deposit or withdraw liquidity to help maintain the peg, which explains the larger swings seen in these pools. We also welcome the NUSD/USDC pool, a new which saw a huge $10M inflow within the last few days. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $55.5M | +$30.8M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $62M | +$13.1M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe556aba6fe6036275ec1f87eda296be72c811bce.png)NUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-595/deposit) | $10.6M | +$10.6M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x73a15fed60bf67631dc6cd7bc5b6e8da8190acf5.png)USD0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x35d8949372d46b7a3d5a56006ae77b215fc69bc0.png)USD0++](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-189/deposit) | $29.2M | \-$6.22M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $6.53M | \-$8.97M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1e33e98af620f1d563fcd3cfd3c75ace841204ef.png)DUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-580/deposit) | $27.2M | \-$10M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers It was a positive week for crvUSD minting markets, with broad increases across most markets, and only minor declines in a few select markets. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $66.1M | $36.4M | +$3.68M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $4.95M | $2.79M | +$1.21M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $8.66M | $3.92M | +$815k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $548k | $150k | +$127 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $365k | $248k | \-$82k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $60M | $38.8M | \-$171k | ### Lend Markets - Borrowing Winners & Losers crvUSD remains in high demand in the **sreUSD** market, where borrowers could still loop profitably to boost their yield until recently. Other stablecoin markets saw outflows, as borrowing rates rose above the yields available on those assets. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $12.8M | $11.3M | +$324k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $1.58M | $1.3M | +$122k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $10.8M | $9.48M | +$109k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $12.2M | $11.4M | \-$271k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $5.71M | $4.68M | \-$1.2M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $18.7M | $17.5M | \-$3.12M | ### Lend Markets - Supplying Winners & Losers Nearly all lending markets saw net crvUSD outflows this week. Lenders remain cautious, and the current risk–reward profile in the crvUSD pools is difficult to beat. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/lend/#/ethereum/markets/one-way-market-32/vault/deposit) | $185k | $123k | +$13.7k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $4.67M | $4.09M | +$11k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x050c24dbf1eec17babe5fc585f06116a259cc77a.png)IBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-15/vault/deposit) | $60.1k | $60.1k | +$703 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $12.2M | $11.4M | \-$747k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $5.71M | $4.68M | \-$1.19M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $18.7M | $17.5M | \-$3.96M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 45, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-45-2025/ Last updated: 2025-11-06T16:21:40.000Z ## Market Overview It was a tough week across DeFi and crypto markets. We were very saddened to see Balancer, a respected peer protocol to Curve, suffer a major exploit. In the aftermath, Curve understandably saw some TVL outflows and now sits at **$2.50 B**, down **8.7%** from last week. Even so, Curve held up notably better than the broader DeFi market, which declined **13.3%** over the same period. Despite the volatility, there are still strong yield opportunities available, you can find all these, along with other highlights and weekly metrics, detailed below. ## Top Yields *All yields shown below are the unboosted rates offered directly through Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer boosting for these yields.* ### Premier crvUSD Pools | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $17M | 8.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $24.7M | 6.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $26.9M | 6.0% | ### Top USD Yields It’s important to do your own research on the assets listed below. Inclusion here is not an endorsement of safety. Some pools include USD investment fund assets, which can offer very high yields but also carry significant risks, as recent events have highlighted. Always take the time to understand the underlying assets before investing. | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x2c03058c8afc06713be23e58d2febc8337dbfe6a.png)USDT](https://curve.finance/dex/etherlink/pools/factory-stable-ng-0/deposit) | Pool | 130.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x5542f82389b76c23f5848268893234d8a63fd5c8.png)mMEV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-4/deposit) | Pool | 84.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdc.png "Xdc") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0xfa2958cb79b0491cc627c1557f441ef849ca8eb1.png)USDC](https://curve.finance/dex/xdc/pools/factory-stable-ng-11/deposit) | Pool | 62.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 23.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x733d504435a49fc8c4e9759e756c2846c92f0160.png)mRe7YIELD](https://curve.finance/dex/etherlink/pools/factory-stable-ng-8/deposit) | Pool | 18.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-518/deposit) | Pool | 15.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x2247b5a46bb79421a314ab0f0b67ffd11dd37ee4.png)mBASIS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-3/deposit) | Pool | 15.6% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xbfc94cd2b1e55999cfc7347a9313e88702b83d0f.png)WBTC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-1/deposit) | BTC | 15.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve WETH ARB](https://www.curve.finance/dex/sonic/pools/factory-stable-ng-87/deposit) | ETH | 11.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd11c452fc99cf405034ee446803b6f6c1f6d5ed8.png)tETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-302/deposit) | ETH | 5.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd11c452fc99cf405034ee446803b6f6c1f6d5ed8.png)tETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-270/deposit) | ETH | 5.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-69/deposit) | BTC | 1.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 1.1% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 19.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV 2](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 11.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 7.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 6.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 3.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 2.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.8% | ## Weekly Metrics ### crvUSD & scrvUSD After briefly surpassing $100M in crvUSD minted on Curve, declines in ETH and BTC prices led many users to close loans and reduce supply. This initially pushed borrowing rates lower, but they have since risen again as new demand returns. The scrvUSD yield will adjust upward shortly to help balance demand across the system. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $89.1M | \-7.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 3.8% | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 33.7% | \-3.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $0.9994 | \-$0.0004 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 12.5% | +10.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $22.2k | \-$34.9M | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)PegKeeper Profit | $5.3k | \-$873 | ### Llamalend The market has been turbulent this week, with many users taking a conservative approach and closing loans in response. Even so, [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) held up well and continued to operate smoothly throughout the volatility. As sentiment improves, activity and borrowing demand are expected to strengthen again. | Metric | Value | Change | | ---------------- | ----- | ------- | | 🦙 Llamalend TVL | $235M | \-16.0% | | 🦙 Supplied | $85M | \-11.5% | | 🦙 Borrowed | $161M | \-9.8% | | 🦙 Collateral | $222M | \-16.5% | | 🦙 Loans | 1352 | \-46 | ### DEX Trading volumes, swaps, and fees all increased this week, which is typical during periods of higher volatility. TVL did decline, largely reflecting the drop in BTC and ETH prices, but overall trading activity across Curve remains strong. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.42B | \-8.7% | | 🔄 Volume | $3.43B | +60.2% | | 🔄 Swaps | 498k | +25.4% | | 🔄 Total Fees | $543k | +58.3% | ### DAO veCRV distributions have returned to normal levels following last week’s unusually high payout. CRV emissions are lower this week, reflecting the recent decrease in CRV’s price, which moved in line with most other DeFi tokens across the broader market. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.42B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 863M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 794M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $195k | \-25.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $1.03M (2.22M CRV) | \-14.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.983% | \-0.005% | ## Top Stableswap Pools The DAO earned $42.2k in fees from the [DAI/USDC/USDT pool](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/3pool/deposit) this week, as it remains the only pool with 100% admin fees. Liquidity utilization was high across many other pools as well, driving strong volumes. RLUSD was the standout performer for fees, generating nearly 4× its previous week’s revenue. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $801.6M | $9.9k | | 2 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $281.4M | $42.2k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $262.4M | $2.9k | | 4 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $251.8M | $2.6k | | 5 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $227.8M | $48.1k | | 6 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $135.1M | $13.5k | | 7 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $118.7M | $11.9k | | 8 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $94.7M | $9.5k | | 9 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-193/deposit) | $66.7M | $6.9k | | 10 | +8 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $61.2M | $16.0k | ## Top Cryptoswap Pools It’s no surprise to see all the Tricrypto pools among the top performers this week with the volatility, and the [USDC pool](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/factory-tricrypto-0/deposit) leading the group. The new-generation USDT/WBTC/WETH pool ([TricryptoUSDT](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/factory-tricrypto-1/deposit)) once again generated substantially higher fees than the first-generation [Tricrypto2 pool](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/tricrypto2/deposit), although, the first-generation pool had slightly higher volumes. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $46.3M | $26.9k | | 2 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $25.0M | $16.7k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $21.1M | $40.8k | | 4 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $20.5M | $17.6k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $6.0M | $21.2k | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $5.1M | $16.2k | ## DEX Winners & Losers ### Fees Winners & Losers It’s great to see the winning two pools this week both being stablecoin pools, especially during such a volatile market. Each generated around 4× their usual fees, showing strong stability and sustained trading demand through the market turbulence. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $228M | $48.1k | +$33.5k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $281M | $42.2k | +$31.2k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $21.1M | $40.8k | +$20.3k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x912ce59144191c1204e64559fe8253a0e49e6548.png)ARB](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-204/deposit) | $169k | $508 | \-$2.77k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-342/deposit) | $23M | $2.36k | \-$3.29k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x912ce59144191c1204e64559fe8253a0e49e6548.png)ARB![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-198/deposit) | $668k | $2k | \-$4.74k | ### Volume Winners & Losers Once again, the [sUSDS pool](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/factory-stable-ng-411/deposit) led the week in volume growth. The [3pool](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/3pool/deposit) (DAI/USDC/USDT) also performed strongly, remaining one of the deepest liquidity pools for single swaps in all of DeFi and consistently seeing high demand during periods of volatility. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $802M | $9.95k | +$256M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $281M | $42.2k | +$208M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $228M | $48.1k | +$156M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $28.6M | $2.21k | \-$10.6M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $2.98M | $353 | \-$11.5M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-342/deposit) | $23M | $2.36k | \-$32.6M | ### TVL Winners & Losers The crvUSD pools were the main TVL losers this week, though primarily due to PegKeepers withdrawing liquidity rather than a decline in user confidence. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | $15.5M | +$9.56M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $24.7M | +$9.2M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1202f5c7b4b9e47a1a484e8b270be34dbbc75055.png)wstUSR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-568/deposit) | $29.1M | +$8.79M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $157M | \-$21.6M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $26.9M | \-$26.3M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $15.5M | \-$36.3M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers There were no major gainers this week. The only increase in borrowing came from debt accumulation in the older sfrxETH market, while other markets experienced outflows. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $532k | $150k | +$40.4 | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $269k | $136k | \-$14.6k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $494k | $330k | \-$20.7k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $6.93M | $3.1M | \-$1.43M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $58.4M | $38.9M | \-$1.9M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $15M | $8.38M | \-$2.47M | ### Lend Markets - Borrowing Winners & Losers There were a few positive signs this week, with smaller markets showing modest borrowing increases. However, many markets still saw overall outflows, reflecting continued caution among borrowers. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x050c24dbf1eec17babe5fc585f06116a259cc77a.png)IBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-15/vault/deposit) | $59.4k | $59.4k | +$51.2k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-2/vault/deposit) | $150k | $82.5k | +$49.3k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $63.2k | $37.8k | +$14.6k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $6.89M | $5.88M | \-$1.64M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $13.1M | $11M | \-$1.93M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $22.7M | $20.7M | \-$3.55M | ### Lend Markets - Supplying Winners & Losers Some markets recorded small increases in supply, though most lenders continued to reduce exposure and withdraw liquidity in line with the broader risk-off sentiment. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/lend/#/fraxtal/markets/one-way-market-0/vault/deposit) | $977k | $606k | +$37k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-10/vault/deposit) | $1.45M | $924k | +$26.4k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-9/vault/deposit) | $951k | $513k | +$17.6k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $12.9M | $11.7M | \-$1.56M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $6.89M | $5.88M | \-$1.94M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $22.7M | $20.7M | \-$3.63M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Monthly Recap October, 2025 URL: https://news.curve.finance/curve-monthly-recap-october-2025/ Last updated: 2025-11-04T16:31:32.000Z **Key Highlights of September:** - YieldBasis credit line expanded from 60M to 300M crvUSD - PegKeeper capacity increased to 300M to support crvUSD stability - $YB emissions redirected to vote incentives for major crvUSD pools - 5M crvUSD minted into the sreUSD LlamaLend market via Resupply - LlamaRisk launched the first crvUSD Optimizer Vault on Arbitrum - $10M incentives program on XDC Network - Curve deployed on OKX's X-Layer ### All about YieldBasis: Vote Incentives, Airdrop and expanded PegKeeper capacities On October 7, Curve governance voted to expand YieldBasis’ crvUSD credit line from 60M to 300M. After the proposal passed on October 14, the three $100M market caps filled almost immediately, adding roughly $300M in new TVL to Curve pools. This demand reflects the rapid uptake of YieldBasis as a leveraged liquidity mechanism within the Curve ecosystem. Following the vote, Michael Egorov, founder of Curve and YieldBasis, published a roadmap outlining additional proposals required to scale the protocol responsibly. The proposals focused on system liquidity and stability parameters, including PegKeeper capacity increases and the introduction of $YB token incentives for Curve governance voting. [Set of proposals for further increasing YB pool capacity and scaling crvUSDSummary Utilize YB available to Curve DAO fully for bribing for crvUSD stablecoin pools (mostly to crvUSD/USDC and crvUSD/USDT, crvUSD/pyUSD, but also can include crvUSD/frxUSD, crvUSD/USDf etc if those collaborate for partner rewards). This stream is dynamic, up to 360k YB per week. Raise PegKeeper limits from current $108M crvUSD in total to $300M crvUSD in total. Give $1B crvUSD allocation for Yield Basis, giving a capacity of $500M to Yield Basis. (1) and (2) are necessary economic prerequ…![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/8b124f7d448c2829ce00fa7212028ee695140a1e_2_32x32-7.svg)Curve.finance Governancemichwill![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/a0f736fd79c0f2f41218f2587b0e2615d63c8825_2_1024x625-1.png)](https://gov.curve.finance/t/set-of-proposals-for-further-increasing-yb-pool-capacity-and-scaling-crvusd/10897) ### $YB Vote Incentives On October 27, the DAO approved a proposal to redirect $YB emissions to a new permissionless contract that automatically distributes tokens between [Votium](https://votium.app/) and [Votemarket](https://votemarket.stakedao.org/). These platforms provide incentives to users who vote for certain gauges with their veCRV voting power. More gauge votes increase gauge weight, which results in higher CRV emissions going to the corresponding liquidity pools. The initial targeted pools are: - [crvUSD/USDT](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-1/deposit) - [crvUSD/USDC](https://www.curve.finance/dex/ethereum/pools/factory-crvusd-0/deposit) - [crvUSD/frxUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-510/deposit) These incentives are designed to run long-term and the mechanism won't change as long as the Curve DAO does not pass another vote to e.g. change the recipient of the YB emissions or change the allocation (e.g. by adding or removing pools). ### $YB Airdrop to Curve Governance On October 15th, YieldBasis airdropped 5M $YB tokens to veCRV holders who voted “YES” on proposals [1206](https://www.curve.finance/dao/ethereum/proposals/1206-ownership), [1213](https://www.curve.finance/dao/ethereum/proposals/1213-ownership), and [1222](https://www.curve.finance/dao/ethereum/proposals/1222-ownership), all of which were important to the development and launch of YieldBasis. > YB airdrop with [@yieldbasis](https://twitter.com/yieldbasis?ref%5Fsrc=twsrc%5Etfw) is happening! > > \- To [@CurveFinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw) veCRV voters who supported proposals important for YB: 5M YB - choose claim() here ; > > \- To Early LPs - 5.625M, amounts are as if they farmed a constant stream during this airdrop season; > \- If… > > — Michael Egorov (@newmichwill) [October 15, 2025](https://twitter.com/newmichwill/status/1978433479525257446?ref%5Fsrc=twsrc%5Etfw) ### Increased PegKeeper capacity To support recent growth in YieldBasis activity and maintain stability across crvUSD markets, Curve governance voted to increase PegKeeper capacity from approximately 103M to 300M. Increasing PegKeeper limits allows the system to absorb larger market movements and maintain the crvUSD peg as lending activity scales. PegKeepers are a core stabilization mechanism in the crvUSD system. They help maintain the peg by automatically supplying or removing crvUSD liquidity from specific pools when price deviates from the target range. More information is available here: [**Peg Stabilization Reserve (PSR)**](https://resources.curve.finance/risks-security/risks/crvusd/#peg-stabilization-reserve-psr) | PegKeeper | Old Capacity | New Capacity | | ------------- | ------------ | ------------ | | crvUSD/USDC | 45M | 135M | | crvUSD/USDT | 45M | 135M | | crvUSD/pyUSD | 15M | 45M | | crvUSD/frxUSD | 3M | 9M | ### Resupply Credit Line On October 27, Curve governance passed Vote [1237](https://www.curve.finance/dao/ethereum/proposals/1237-ownership), minting 5M crvUSD into the sreUSD LlamaLend market through the Resupply program. Resupply proposals are used to expand lending capacity in LlamaLend markets when demand increases and risk parameters allow it. This allocation supports borrowing activity, liquidity depth, and overall efficiency within the crvUSD lending ecosystem. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/11/resupply.png) ### LlamaRisk crvUSD Optimizer Vault on Arbitrum LlamaRisk launched the first crvUSD Optimizer Vault on IPOR Fusion, introducing automated yield optimization for crvUSD holders on Arbitrum. The vault allocates deposits into StakeDAO v2 strategies with Convex integration and uses IPOR’s autocompounding logic to automatically reinvest rewards. Risk controls are handled by LlamaRisk, which manages exposure limits and allocation caps. The vault currently distributes capital across WBTC, WETH, and ARB LlamaLend markets. This provides users with a streamlined way to access leveraged crvUSD strategies with risk parameters managed at the protocol level. > The first LlamaRisk crvUSD Optimizer Vault on IPOR Fusion is now live on Arbitrum! > > Big thanks to our partners [@CurveFinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw), [@StakeDAOHQ](https://twitter.com/StakeDAOHQ?ref%5Fsrc=twsrc%5Etfw), and [@ipor\_io](https://twitter.com/ipor%5Fio?ref%5Fsrc=twsrc%5Etfw). Curve Finance powers [$crvUSD](https://twitter.com/search?q=%24crvUSD&src=ctag&ref%5Fsrc=twsrc%5Etfw), one of the most trusted stablecoins in DeFi, StakeDAO brings a proven platform for staking and… [pic.twitter.com/5BE6hNHWLC](https://t.co/5BE6hNHWLC) > > — LlamaRisk (@LlamaRisk) [October 2, 2025](https://twitter.com/LlamaRisk/status/1973798146053480601?ref%5Fsrc=twsrc%5Etfw) ### **October 10: crvUSD Stability and Oracle Performance** On October 10, crypto markets experienced the largest liquidation event in history, with more than **$19B liquidated** following geopolitical developments related to U.S.–China trade policy. Despite extreme volatility, **crvUSD remained stable**, trading between **0.996 and 1.012** (excluding single-block MEV effects), supported by PegKeeper intervention. > How big was the effect of the Friday crypto crash on [@CurveFinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw) crvUSD? It's important to measure properly: using state prices at the end of block. > > If you exclude 1- and 2-block sandwiches, price fluctuated from 0.996 to 1.012 during that time, fixed by PegKeepers [pic.twitter.com/SEaoYu7kjN](https://t.co/SEaoYu7kjN) > > — Michael Egorov (@newmichwill) [October 16, 2025](https://twitter.com/newmichwill/status/1978734490068353233?ref%5Fsrc=twsrc%5Etfw) During the event, several platforms mis-priced stablecoins due to oracle issues. Curve’s on-chain, liquidity-based oracle system continued to report accurate prices, demonstrating resilience during stress conditions. > While we share these suggestions privately with any partner we work with across both DeFi and CeFi, want to surface this publicly so there is zero doubt going forward on what we view as appropriate oracle design and risk management for USDe: [pic.twitter.com/lb4OeaGn9Y](https://t.co/lb4OeaGn9Y) > > — G | Ethena (@gdog97\_) [October 12, 2025](https://twitter.com/gdog97%5F/status/1977302774636540403?ref%5Fsrc=twsrc%5Etfw) This reinforces Curve’s design philosophy: **real-trade and real-liquidity oracles provide superior reliability compared to external price feeds**. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/11/oracle.png) ### XDC Rewards Program On October 29, the XDC Network launched a $10M Surge incentives program, with Curve included as one of the initial participating platforms. During Epoch 001, the program distributed a total of $1.25M in WXDC through Merkl, incentivizing liquidity for the following Curve pools: ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/11/Screenshot-2025-11-03-at-13.48.11-1.png) Incentives were designed to deepen liquidity across the network and attract additional stablecoin and cross-chain capital. Demand for crvUSD on XDC increased significantly following the program launch, and daily bridge limits were reached as users moved funds to participate in the rewards. ### Curve on X-Layer [Curve](https://www.curve.finance/dex/x-layer/pools) launched its DEX on **X-Layer**, OKX’s Layer-2 network built using the Optimism stack. X Layer offers low transaction costs and full EVM compatibility, providing an additional environment for Curve users and liquidity providers to access the protocol. This deployment expands Curve’s multichain presence and availability across rollup ecosystems. > Curve is live on X Layer. > Stablecoins move fast here. [pic.twitter.com/PoZMoYEQd3](https://t.co/PoZMoYEQd3) > > — Curve Finance (@CurveFinance) [October 9, 2025](https://twitter.com/CurveFinance/status/1976180836165619934?ref%5Fsrc=twsrc%5Etfw) ### Curve User Observation A new industry metric released for Q3 2025 showed Curve ranked **number one in Average Trading Volume per User** with almost $70,000, recording nearly twice the user trading volume of Uniswap. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/11/curve_user.png) This highlights that **Curve continues to attract high-value users and institutional-scale volume**, reinforcing its position as foundational liquidity infrastructure in DeFi. ### Curve Best Yields & Key Metrics | Week 44, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-44-2025/ Last updated: 2025-10-30T14:07:06.000Z ## Market Overview It’s been a productive week for Curve — here’s the news: - **TVL:** $2.737 B (-0.7%) - **YB incentives** have begun for crvUSD’s leading PegKeeper pools, offering high yields on very safe asset pairs (see below). - **Resupply’s 5M crvUSD mint** was approved, deployed, and quickly absorbed by borrowers on the crvUSD/sreUSD lending market. As always, see below for this week’s top yields, metrics, and winners and losers. ## Top Yields *All yields shown below are the unboosted rates offered directly on Curve. However, projects such as* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *all offer additional boosting for these yields.* ### Premier crvUSD Pools YB voting incentives started flowing this week, giving all PegKeeper pools strong yields. These are exceptionally high returns for such deep-liquidity pools. Voting incentives will continue for these markets, making them an excellent option to park funds and earn some of the safest yields in DeFi. | Chain | Market | TVL | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $51.8M | 15.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $14.5M | 15.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $15.5M | 13.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $53.3M | 9.5% | ### Other Top USD Yields *\*Note that the* [*scrvUSD/USDC pool*](https://curve.finance/dex/xdc/pools/factory-stable-ng-11/deposit?ref=news.curve.finance) *on XDC is offering a huge 161% yield; however, the *daily limit for bridging scrvUSD to XDC has been reached*, so additional bridges may be* [*delayed by up to 24hrs*](https://x.com/XDC%5FIntern/status/1983843599356678371)*.* | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdc.png "Xdc") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0x3d8eadb739d1ef95dd53d718e4810721837c69c1.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-xdc/0xfa2958cb79b0491cc627c1557f441ef849ca8eb1.png)USDC](https://curve.finance/dex/xdc/pools/factory-stable-ng-11/deposit) | Pool | 161.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9cf12ccd6020b6888e4d4c4e4c7aca33c1eb91f8.png)USDaf![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-583/deposit) | Pool | 53.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-521/deposit) | Pool | 25.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x5542f82389b76c23f5848268893234d8a63fd5c8.png)mMEV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-4/deposit) | Pool | 24.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 18.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x2247b5a46bb79421a314ab0f0b67ffd11dd37ee4.png)mBASIS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-3/deposit) | Pool | 18.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x733d504435a49fc8c4e9759e756c2846c92f0160.png)mRe7YIELD](https://curve.finance/dex/etherlink/pools/factory-stable-ng-8/deposit) | Pool | 17.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x476ef9ac6d8673e220d0e8bc0a810c2dc6a2aa84.png)USPD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-609/deposit) | Pool | 17.3% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xbfc94cd2b1e55999cfc7347a9313e88702b83d0f.png)WBTC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-1/deposit) | BTC | 14.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve WETH ARB](https://www.curve.finance/dex/sonic/pools/factory-stable-ng-87/deposit) | ETH | 9.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x3d15fd46ce9e551498328b1c83071d9509e2c3a0.png)uniETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-84/deposit) | ETH | 5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | ETH | 5.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | 2.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/base/pools/factory-stable-ng-317/deposit) | BTC | 1.4% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 35.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV 2](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 18.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 7.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 5.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 1.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 0.9% | ## Weekly Metrics ### crvUSD & scrvUSD The crvUSD supply increased by 6% this week as yields for crvUSD pools rose substantially. The amount of crvUSD held in scrvUSD decreased significantly, meaning a greater share of revenue will now flow to veCRV holders. PegKeeper profit has also been added as a weekly metric. As PegKeepers deploy and withdraw reserves, they effectively sell crvUSD when it’s above $1 and buy it back when it’s below $1 — generating revenue for the Curve DAO. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $96.2M | +6.0% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 4.0% | +1.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 37.1% | \-12.0% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $0.9998 | +$0.0001 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 2.4% | +0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $34.9M | \-$2.95M | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)PegKeeper Profit | $6.18k | \-$2.42k | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance)'s TVL increased substantially this week, aligning with the higher yields on crvUSD pools. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $280M | +4.4% | | 🦙 Supplied | $96M | +7.0% | | 🦙 Borrowed | $179M | +9.6% | | 🦙 Collateral | $266M | +6.2% | | 🦙 Loans | 1398 | +3 | ### DEX [DEX pool](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) volumes increased slightly; however, fees and swaps declined after last week’s higher-than-usual activity, with TVL remaining largely unchanged. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.65B | \-0.1% | | 🔄 Volume | $2.14B | +3.7% | | 🔄 Swaps | 397k | \-16.2% | | 🔄 Total Fees | $343k | \-17.6% | ### DAO veCRV holders are eating well this week after a higher-than-usual distribution, driven by [frxETH pool fees being harvested](https://www.curve.finance/dao/ethereum/proposals/1229-ownership). CRV emissions were also slightly higher this week thanks to the stronger CRV price, while veCRV supply increased due to additional CRV relocks. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.42B | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 863M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 796M | +1.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $260k | +40.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $1.21M (2.22M CRV) | +0.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.988% | \-0.004% | ## Top Stableswap Pools The top Stableswap pools by volume were largely unchanged this week, with the only major move being the [frxUSD/sUSDS pool](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/factory-stable-ng-342/deposit), which jumped 37 places. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $545.5M | $9.7k | | 2 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $246.4M | $2.9k | | 3 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $164.1M | $2.2k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $80.7M | $8.1k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $73.2M | $11.0k | | 6 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $72.2M | $14.6k | | 7 | +37 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-342/deposit) | $55.6M | $5.7k | | 8 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $47.7M | $4.8k | | 9 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $43.1M | $4.3k | | 10 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-193/deposit) | $40.2M | $4.1k | ## Top Cryptoswap Pools Below, you can see two USDT/WBTC/WETH pools. The pool in position 4 has slightly less volume but over 2x the fees. Notably, the higher-fee pool ([TricryptoUSDT](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-1/deposit?ref=news.curve.finance)) is a 2nd-generation Cryptoswap pool, while the lower-fee pool ([Tricrypto2](https://www.curve.finance/dex/ethereum/pools/tricrypto2/deposit?ref=news.curve.finance)) is a 1st-generation pool. Curve continues to optimize and improve the efficiency of all its products. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $23.2M | $13.1k | | 2 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $16.0M | $9.3k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $15.1M | $9.0k | | 4 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $13.5M | $20.6k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $5.8M | $20.8k | | 6 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $3.3M | $11.4k | ## DEX Winners & Losers ### Fees Winners & Losers sUSDS pools were the big winners in terms of fees this week, while Cryptoswap pools landed in the loser category due to a decline in volatility from last week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $545M | $9.75k | +$5.82k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-342/deposit) | $55.6M | $5.66k | +$5.19k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x912ce59144191c1204e64559fe8253a0e49e6548.png)ARB![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-198/deposit) | $2.25M | $6.74k | +$4.15k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $16M | $9.35k | \-$8.2k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $23.2M | $13.1k | \-$11.6k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $13.5M | $20.6k | \-$29.1k | ### Volume Winners & Losers Both USDS and sUSDS pools led the week in volume growth, contributing nearly $500M in additional volume for Curve from these assets alone. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $545M | $9.75k | +$347M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $246M | $2.86k | +$80.7M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-342/deposit) | $55.6M | $5.66k | +$50.9M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $23.2M | $13.1k | \-$24.3M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $43.1M | $4.31k | \-$24.8M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $80.7M | $8.07k | \-$52.3M | ### TVL Winners & Losers With the addition of higher yields for crvUSD pools, they were the big winners this week. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | $14.5M | +$12.9M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $69.4M | +$12.2M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $51.8M | +$10.7M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $39.2M | \-$5.05M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/tac.png "Tac") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0xf9775085d726e782e83585033b58606f7731ab18.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0x7048c9e4abd0cf0219e95a17a8c6908dfc4f0ee4.png)cbBTC](https://curve.finance/dex/tac/pools/factory-stable-ng-8/deposit) | $240k | \-$10.5M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x66a1e37c9b0eaddca17d3662d6c05f4decf3e110.png)USR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-337/deposit) | $16.2M | \-$11.3M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers A great week for crvUSD minting markets, with substantial growth across the board and almost no outflows from any market. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $67.5M | $40.8M | +$3.25M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $23.9M | $10.8M | +$1.12M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $68.8M | $33.8M | +$538k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $324k | $150k | +$42.4 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $563k | $350k | \-$19.5k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $6.54M | $3.87M | \-$61k | ### Lend Markets - Borrowing Winners & Losers The [crvUSD/sreUSD lending market](https://curve.finance/lend/?ref=news.curve.finance#/ethereum/markets/one-way-market-41/vault/deposit) has issued over $5M in new loans after the [Curve DAO voted to mint an additional 5M crvUSD](https://www.curve.finance/dao/ethereum/proposals/1237-ownership). The [crvUSD/sDOLA market](https://curve.finance/lend/?ref=news.curve.finance#/ethereum/markets/one-way-market-30/vault/deposit) also saw a $4.7M increase in borrows from last week. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $14.1M | $12.9M | +$5.37M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $26.3M | $24.2M | +$4.74M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $14.5M | $12.5M | +$268k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-9/vault/deposit) | $933k | $549k | \-$6.63k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/lend/#/ethereum/markets/one-way-market-32/vault/deposit) | $211k | $123k | \-$20.4k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $8.83M | $7.52M | \-$668k | ### Lend Markets - Supplying Winners & Losers Here we can clearly see the additional [5M crvUSD minted by the DAO](https://www.curve.finance/dao/ethereum/proposals/1237-ownership) deployed to the [crvUSD/sreUSD market](https://curve.finance/lend/?ref=news.curve.finance#/ethereum/markets/one-way-market-41/vault/deposit), along with solid growth in the crvUSD/sDOLA market. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $14.1M | $12.9M | +$5.04M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $26.3M | $24.2M | +$2.15M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.17M | $3.3M | +$167k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $5.51M | $4.82M | \-$184k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $10.8M | $9.51M | \-$196k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $8.83M | $7.52M | \-$697k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve ✗ Resupply: A Proposal to Mint 5M crvUSD URL: https://news.curve.finance/curve-resupply-a-proposal-to-mint-5m-crvusd/ Last updated: 2025-10-24T17:29:49.000Z Following the recent **crvUSD minting approvals** for YieldBasis, a new proposal has been introduced by **Resupply**, a lending protocol built on top of Llamalend. The proposal would **mint and supply 5 million crvUSD** directly into the **sreUSD Llamalend market** and is currently undergoing a DAO vote with about two days remaining: [Curve.financeCurve-frontend is a user interface application designed to connect to Curve’s deployment of smart contracts.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/apple-touch-icon-5.png)![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/logo-5.png)](https://www.curve.finance/dao/ethereum/proposals/1237-ownership) ### **What is Resupply?** [**Resupply**](https://resupply.fi/?ref=news.curve.finance) is a decentralized stablecoin protocol that leverages the liquidity and stability of **Curve’s lending markets** to improve capital efficiency. Built on top of [**Llamalend**](https://www.curve.finance/llamalend/ethereum/markets), , it allows users to **borrow reUSD against crvUSD** supplied to lending markets on Curve, turning idle collateral into productive liquidity. The protocol issues two stablecoins: **reUSD**, its core stablecoin, and **sreUSD**, a yield-bearing version that earns protocol revenue based on platform performance and the stability of reUSD’s peg. ### **What’s the Proposal About?** The Curve DAO is voting on a proposal to **mint and supply 5 million crvUSD** through a factory contract capable of minting directly into Curve lending markets, starting with the [**sreUSD** market](https://www.curve.finance/lend/ethereum/markets/0x4F79Fe450a2BAF833E8f50340BD230f5A3eCaFe9/create). [Mint and lend crvUSD to the sreUSD Lending MarketSummary Create a new factory layer that enables minting directly into the sreUSD lending market on Curve Lend, with an initial 5M crvUSD borrow cap. Motivation Novel Minting Mechanism This proposal introduces a new approach to crvUSD minting that utilizes lending pairs rather than traditional collateralized minting pairs. Lending markets provide alternative monetary policy tools that can be strategically valuable for specific use cases. Strategic Rationale for sreUSD While we generally maintai…![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/8b124f7d448c2829ce00fa7212028ee695140a1e_2_32x32-6.svg)Curve.finance GovernanceC2tP![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/236e8d42f0282109552eb0849f8987a75ca5b51b-2.png)](https://gov.curve.finance/t/mint-and-lend-crvusd-to-the-sreusd-lending-market/10887) In practice, the DAO would mint **5 million crvUSD** and supply it to the **sreUSD lending market** on Llamalend. This introduces a new minting model that uses **lending pairs** instead of traditional **collateralized minting pairs**. Lending markets follow independent monetary policies that are not tied to the crvUSD price, making them strategically useful for targeted use cases. ### **Why Do This?** The proposal aims to strengthen the overall Resupply system by improving the dynamics between **reUSD**, **sreUSD**, and **crvUSD**. Because many users leverage their positions, **reUSD** has tended to trade slightly below $1\. This persistent discount discourages new leverage since users effectively sell **reUSD** below peg and realize an immediate loss. A few weeks ago, Resupply introduced **sreUSD**, the yield-bearing version of **reUSD**, to help ease this imbalance. The token receives a fixed portion of Resupply’s platform revenue, and the system allocates additional protocol revenue to it whenever **reUSD** trades below $1\. While this has helped, the effect has not been strong enough to restore balance on its own. By minting and supplying **5 million crvUSD** to the **sreUSD Llamalend market**, the DAO would introduce several reinforcing effects: - **Higher borrowing capacity and liquidity:** The additional 5 million crvUSD increases the total supply available for lending, which lowers borrowing rates and makes borrowing against sreUSD more attractive. This stimulates market activity and demand for sreUSD. - **Reduced sell pressure on reUSD:** With deeper lending liquidity, users can convert **reUSD → sreUSD**, use it as **collateral**, and borrow crvUSD directly from Llamalend instead of selling reUSD on the market. This reduces sell pressure and supports a healthier reUSD market structure. - **Restored leverage efficiency:** The increased liquidity allows users to “loop” their positions again — borrowing crvUSD against sreUSD without first selling reUSD — which reactivates Resupply’s core leverage mechanism and supports sustainable growth. Together, these effects improve market efficiency and create healthier conditions for both reUSD and sreUSD to scale, while aligning the incentives of Resupply and Curve. ### **What’s in It for Curve?** Generally speaking, all assets supplied to **Llamalend** generate yield, including the **5 million crvUSD** allocated through this proposal. The contracts are designed so that anyone can permissionlessly claim the accrued profits, ensuring transparency and decentralization. All revenue generated from this activity flows directly back to the **Curve DAO**, while Resupply does not take any share of the proceeds. For Curve, this setup creates a new and more stable source of protocol revenue. Unlike traditional **crvUSD** borrowing, which depends on market price movements and PegKeeper activity, Llamalend lending rates are determined purely by **market utilization** — how much of the supplied liquidity is borrowed. This mechanism avoids the sharp rate fluctuations seen in other markets and provides a steadier income stream for the DAO. Based on the average **sreUSD market** supply rate of around **8.1%**, the DAO could expect an annual return of approximately **$405,000** from this **5 million crvUSD** allocation. Beyond the additional revenue, the structure also diversifies Curve’s earning sources, introducing a yield stream that is more predictable and less exposed to market volatility. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/10/sreusd_lend_apr_chart-2.png) Supply APR for lending out crvUSD to the sreUSD market ### **Design and Security of the System** The smart contracts introduced by the proposal were developed by the Resupply team and are intentionally kept simple. They mint **crvUSD**, supply it to the **Llamalend** market, and include logic for withdrawing generated profit back to the DAO. To ensure safety, the system was audited by [Electi](https://electisec.com/) (formerly yAudit) and [ChainSecurity](https://www.chainsecurity.com/), with all reports publicly available on [GitHub](https://github.com/resupplyfi/resupply/tree/main/audits). Control over the contracts (and the **minted crvUSD**) remains entirely with the **Curve DAO**. Any changes, such as **increasing the minted amount** or **adding new markets**, must go through a DAO vote. **Resupply** cannot redirect or modify the allocation independently. --- ### Curve Best Yields & Key Metrics | Week 43, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-43-2025/ Last updated: 2025-10-23T13:31:30.000Z ## Market Overview Another turbulent week has come and gone, yet Curve continues to hold strong. **Total value locked (TVL)** sits at **$2.769 B**, down just **2.0%** over the week. It’s been an active period for **governance**, with three major proposals currently up for vote: - [Resupply's 5M crvUSD credit line vote for a sreUSD market](https://www.curve.finance/dao/ethereum/proposals/1237-ownership) - [Setting the YB emissions recipient](https://www.curve.finance/dao/ethereum/proposals/1238-ownership) so Curve's YB emissions can be used as voting incentives for crvUSD pools - [Tripling the PegKeeper crvUSD allocations](https://www.curve.finance/dao/ethereum/proposals/1241-ownership) to accommodate for significant growth in pool size and circulating supply For more on how YieldBasis has positively impacted Curve since launch—and what’s next—see yesterday's article: [YieldBasis on Curve: What’s Happened So Far](https://news.curve.finance/yieldbasis-on-curve-whats-happened-so-far/) As always, there are strong yield opportunities across many assets on Curve. Explore some of the week’s highlights and metrics below. ## Top Yields ### USD Stablecoins | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-521/deposit) | Pool | 33.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-518/deposit) | Pool | 26.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 21.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x41a5477364bf60d8936b90310fecfda79593304e.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x9fb76f7ce5fceaa2c42887ff441d46095e494206.png)wstkscUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-115/deposit) | Pool | 18.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3b5f2810fb2168ffa9c73160f97bf9f2461ffa5c.png)litUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-562/deposit) | Pool | 16.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x53a6abb52b2f968fa80df6a894e4f1b1020da975.png)dUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-102/deposit) | Pool | 15.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | Pool | 15.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x58acc2600835211dcb5847c5fa422791fd492409.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-67/deposit) | Pool | 14.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xdd629e5241cbc5919847783e6c96b2de4754e438.png)mTBILL![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-2/deposit) | Pool | 14.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 14.4% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/tac.png "Tac") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0xae4efbc7736f963982aacb17efa37fcbab924cb3.png)SolvBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0xc99f5c922dae05b6e2ff83463ce705ef7c91f077.png)xSolvBTC](https://curve.finance/dex/tac/pools/factory-stable-ng-20/deposit) | BTC | 16.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xbfc94cd2b1e55999cfc7347a9313e88702b83d0f.png)WBTC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-1/deposit) | BTC | 13.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve WETH ARB](https://www.curve.finance/dex/sonic/pools/factory-stable-ng-87/deposit) | ETH | 12.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd11c452fc99cf405034ee446803b6f6c1f6d5ed8.png)tETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-302/deposit) | ETH | 6.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 5.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 2.8% | ### Other Top Yields The [XAUt/PAXG gold pool](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/factory-stable-ng-397/deposit) continues to deliver strong organic yield for a stableswap pool. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 41.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV 2](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 19.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 5.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 3.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 1.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 1.4% | ## Weekly Metrics ### crvUSD & scrvUSD Following recent market-wide liquidations, users appear cautious about taking on new loans, leaving crvUSD supply largely unchanged this week. The peg remains strong, and with YB incentives soon flowing to crvUSD pools, borrowing demand is expected to rise—creating a healthy incentive to mint and deploy crvUSD. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $90.8M | \-0.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $37.8M | \-$3.9M | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 2.9% | \-4.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 49.1% | \-15.9% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $0.9998 | \-$0.0007 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 2.0% | +0.7% | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance)'s TVL dipped slightly this week as markets look to stabilize following recent volatility and liquidations. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $268M | \-4.8% | | 🦙 Supplied | $89.8M | \-3.8% | | 🦙 Borrowed | $163M | \-1.0% | | 🦙 Collateral | $251M | \-4.3% | | 🦙 Loans | 1395 | \-26 | ### DEX After last week’s volatility drove unusually high [DEX](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) volumes, both volume and fees have now normalized, with TVL remaining largely unchanged. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.66B | \-1.6% | | 🔄 Volume | $2.06B | \-29.7% | | 🔄 Swaps | 474k | \-39.7% | | 🔄 Total Fees | $416k | \-55.5% | ### DAO The value of CRV emissions declined this week following a drop in the CRV token price. The veCRV distribution also returned to typical levels after last week’s unusually high payout. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.42B | +0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 863M | \-0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 786M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $185k | \-49.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $1.2M (2.22M CRV) | \-9.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.992% | \-0.005% | ## Top Stableswap Pools The top pool lists are back, below are the top weekly Stableswap pools ranked by volume. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------ | | 1 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $198.8M | $3.9k | | 2 | +10 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $171.8M | $2.7k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $165.7M | $1.9k | | 4 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $132.9M | $13.3k | | 5 | \-4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $79.8M | $12.0k | | 6 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $78.4M | $16.0k | | 7 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-1/deposit) | $67.8M | $6.8k | | 8 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $65.1M | $6.5k | | 9 | +25 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $41.8M | $4.3k | | 10 | +6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-193/deposit) | $40.8M | $4.2k | ## Top Cryptoswap Pools Here are the top Cryptoswap pools of the week ranked by volume. Notice that the Tricrypto pools (BTC/ETH/USD pools) largely dominate these rankings. | 📍 | 🔄 | Chain | Pool | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $47.6M | $24.7k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $37.7M | $49.6k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $29.0M | $15.4k | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $24.7M | $17.5k | | 5 | +6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $7.1M | $24.0k | | 6 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0d69e286b938e21cbf7e51d71f6a4c8918f482f.png)eUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x320623b8e4ff03373931769a31fc52a4e78b5d70.png)RSR](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-21/deposit) | $3.9M | $3.5k | ## DEX Winners & Losers ### Fees Winners & Losers YieldBasis’s [YB/crvUSD pool](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/factory-twocrypto-271/deposit) led the week with the largest increase in fees, followed by the [PYUSD/crvUSD pool](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/factory-stable-ng-42/deposit) after the introduction of direct YB incentives. The BTC/ETH/USD pools saw lower fees, mainly reflecting a return to normal levels after last week’s spike. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x01791f726b4103694969820be083196cc7c045ff.png)YB](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-271/deposit) | $7.07M | $24k | +$11.1k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $41.8M | $4.25k | +$2.78k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $20.1M | $5.27k | +$1.47k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $47.6M | $24.7k | \-$34.4k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $37.7M | $49.6k | \-$91k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $24.7M | $17.5k | \-$95.4k | ### Volume Winners & Losers | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $172M | $2.66k | +$98.4M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $199M | $3.93k | +$77.9M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $41.8M | $4.25k | +$28.7M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $28.8M | $11.5k | \-$58.6M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-12/deposit) | $20.2M | $2.08k | \-$77.4M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $79.8M | $12k | \-$156M | ### TVL Winners & Losers With 14% APR available on the [PYUSD/crvUSD pool](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/factory-stable-ng-42/deposit), it's no wonder the TVL has increased by a factor of 4. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-42/deposit) | $41.1M | +$30.2M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1202f5c7b4b9e47a1a484e8b270be34dbbc75055.png)wstUSR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-568/deposit) | $17M | +$6.17M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $52.6M | +$2.86M | | ... | ... | ... | ... | ... | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-264/deposit) | $4.99M | \-$5.25M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $57.2M | \-$6.08M | | 0 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $179M | \-$6.85M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers Borrowing in crvUSD markets saw minor shifts among users, but overall levels were steady week-on-week. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $68.6M | $33.2M | +$2.5M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $6.78M | $3.94M | +$270k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $607k | $370k | +$240k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $326k | $150k | \-$1.13M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $21.2M | $9.73M | \-$1.14M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $59.7M | $37.6M | \-$1.29M | ### Lend Markets - Borrowing Winners & Losers sreUSD demand continues to rise, with borrowing up more than 10% this week. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $9.04M | $7.54M | +$808k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $5.69M | $4.82M | +$170k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4M | $3.15M | +$81.9k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $11M | $9.41M | \-$322k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $9.52M | $8.19M | \-$594k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $24.1M | $19.5M | \-$940k | ### Lend Markets - Supplying Winners & Losers Users largely rotated capital within stablecoin lending markets this week, with sreUSD emerging as the biggest gainer. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $9.04M | $7.54M | +$1.02M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $5.69M | $4.82M | +$201k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-14/vault/deposit) | $606k | $184k | +$153k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $11M | $9.41M | \-$321k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $24.1M | $19.5M | \-$351k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $9.52M | $8.19M | \-$3.57M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### YieldBasis on Curve: What’s Happened So Far URL: https://news.curve.finance/yieldbasis-on-curve-whats-happened-so-far/ Last updated: 2025-10-22T14:57:42.000Z The Curve and YieldBasis partnership has started on a strong note, with the mutually beneficial relationship benefiting both protocols even amid recent market turbulence. It’s easy to lose track of all the moving parts, so here’s a quick recap of what’s happened so far, and what’s coming next. ### What is YieldBasis and how is it related to Curve? YieldBasis is a protocol built on top of Curve’s liquidity infrastructure that aims to solve one of the longest-standing challenges in AMMs: **impermanent loss (IL)**. It enables users to provide liquidity using various BTC wrappers (currently **cbBTC**, **tBTC**, and **WBTC**) without being exposed to impermanent loss — while still earning trading fees. The mechanism is elegant yet powerful: YieldBasis maintains a **2x compounding leverage** on deposited BTC by matching it with an equal value of **crvUSD**. You can learn more about the mechanics here: [YieldBasis Documentation](https://docs.yieldbasis.com/user/how-it-works). YieldBasis relies on two core components from Curve: - **Curve AMM (specifically: FXSwap)** - **A crvUSD credit line approved by the DAO**, which sustains the 2x compounding leverage on positions. ### **How YieldBasis Benefits Curve** Curve stands to gain a new revenue stream from the **75 million $YB tokens** to be vested to the DAO over the coming years. The current plan is to use these tokens to **expand the crvUSD supply** by incentivizing crvUSD pools, an approach that should, in turn, **boost DAO revenue**. However, the **Curve DAO retains full discretion** over how these tokens are used, and can redirect them as it chooses through a governance vote. ### Recent DAO Votes 1. **September 24, 2025: Initial Credit Line Approval:** The initial proposal to grant YieldBasis a **crvUSD credit line of up to 60M** passed and [executed](https://etherscan.io/tx/0xa77fabf198d697ffbd1dcd1f96fa80763de100c6eef2347ab5d1c89f4566612b). Shortly after execution, the first three markets, **cbBTC**, **WBTC**, and **tBTC**, went live on YieldBasis with a cap of **1M worth of BTC per pool**.Due to immense demand, the UI briefly struggled to handle traffic, and some users even deposited directly via Etherscan. Once the interface recovered, all pools filled within a minute. 2. **October 2, 2025: Market Cap Increase to 10M:** After the successful launch of initial markets, a second vote on the YieldBasis side approved an increase in pool caps to **10M per market**. As before, pools reached full capacity within minutes. 3. **October 7–14, 2025: Credit Line Expansion to 300M:** In response to continued demand, another Curve DAO proposal was created on **October 7** to expand YieldBasis’s credit line to **300M crvUSD**. The vote passed and was executed on **October 14**, allowing market caps to rise again — this time to **100M per pool**. Unsurprisingly, the markets filled almost instantly once more. 4. **October 15, 2025: YB Token Emissions and Airdrop:** At **10:00 UTC**, YieldBasis initiated **YB token emissions**, marking the start of inflationary vesting to the Curve DAO. This also included the setup of a **YB/crvUSD pool** and an **airdrop for veCRV holders** who voted *Yes* on proposals [**#1206**](https://www.curve.finance/dao/ethereum/proposals/1206-ownership), [**#1213**](https://www.curve.finance/dao/ethereum/proposals/1213-ownership), and [**#1222**](https://www.curve.finance/dao/ethereum/proposals/1222-ownership). --- ## YB Impact in Numbers Since launch, YB has had a clear positive effect on Curve. It’s boosted TVL, trading volumes, and DAO revenue. Let’s take a look at the impact so far. ### TVL Every dollar worth of BTC deposited into YieldBasis results in **two dollars of TVL** for Curve, since YieldBasis leverages its liquidity 2x through crvUSD. Because each round of pool caps was filled almost instantly, Curve’s TVL saw three sharp jumps: **6M → 60M → 300M.** ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/10/curve_tvl_stacked_chart.png) **Additional Curve TVL from the launch of the YieldBasis pools.* ### Revenue Impact With YieldBasis operating for a few weeks now, we can now analyze its effect on Curve’s trading volume and fee generation. Data was obtained on the 21st of October. First, looking at **liquidity pools**: ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/10/yb_vs_adjacent_comparison.png) **Adjacent Volume = additional volume generated via trades through YB pools.* Interestingly, every **$1 of volume** on the YieldBasis pools generated **$1.32 of adjacent volume** on other Curve pools, mainly **crvUSD/USDC** and **crvUSD/USDT**. For example, when a user sells USDC for BTC, the routing path typically looks like: `USDC → crvUSD → BTC`. This adjacent trading activity generated about $33.6K in total revenue on Curve — split evenly between LPs and the DAO. Another YieldBasis-related revenue source came from **PegKeepers**, which generated roughly **$35K** in profit. PegKeepers help stabilize **crvUSD’s peg** by depositing crvUSD into their pools when the price is above $1 (effectively *selling* crvUSD) and withdrawing when it’s below $1 (effectively *buying* crvUSD). This process creates profit opportunities while supporting the peg. Most trades in YieldBasis pools originate from **arbitrage** as BTC prices move: - When BTC rises, arbitrageurs **buy crvUSD** to then **buy BTC**. - When BTC falls, they **sell BTC for crvUSD**, adding sell pressure. Because of recent volatility and the large size of the YieldBasis pools (**around $300M**), these arbitrage cycles caused **greater crvUSD price movement,** leading to **more PegKeeper activity** and, in turn, **additional revenue for the Curve DAO**. To dampen short-term crvUSD volatility, YieldBasis decided to **incentivize the pyUSD/crvUSD pool** with **200,000 YB tokens (\~$90K)** for one week, ahead of the main emissions (more on that below). Finally, the **YB/crvUSD liquidity pool**, which serves as the main trading venue for the $YB token, currently holds **$1.4M in TVL** and has generated **over $30K in revenue** since launch. In total, YieldBasis has generated approximately **$188K in revenue** (for LPs and the DAO combined). This is a **conservative estimate**, as it doesn’t include secondary effects, such as new crvUSD minted in response to higher demand. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/10/curve_revenue_stacked.png) --- ### Whats Ahead? Before Curve can extend additional credit lines to YieldBasis and raise pool caps further, **crvUSD liquidity must deepen significantly**. Current liquidity levels are only just sufficient to support the existing 300M in YieldBasis pools — expanding beyond that without stronger crvUSD markets would risk higher volatility and potential price instability. The next major step is [**Proposal #1238**](https://www.curve.finance/dao/ethereum/proposals/1238-ownership), which redirects the **$YB vesting emissions** to a dedicated `DepositPlatformDivider` contract. This contract will use the vested $YB tokens as **vote incentives** on platforms like [**Votium**](https://votium.app/) and [**VoteMarket**](https://votemarket.stakedao.org/) to attract gauge weights for **crvUSD pools**. In practice, this means those pools will attract more **CRV emissions**, making liquidity provision in crvUSD pairs far more appealing for LPs. [Redirect YB emissions to a distributor contract for gauge vote incentivesSummary: Hello. Tommy from Votium here. In collaboration with Votemarket, we have developed some helper contracts to automate allocating YB for gauge voting incentives. There are three contracts: DepositPlatformDivider - 0x0997f89c451124eadf00f87de77924d77a38419a DepositHelperVotium - 0x5005DE019301aB6b744B6EFbB942E9A8999EEeC7 DepositHelperVoteMarket - 0xfD97b14E1d91B82936e35aE7b20dA4FD16C855B1 starting split is set to 65% Votium, 35% Votemarket, this split follows the efficiency data th…![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/8b124f7d448c2829ce00fa7212028ee695140a1e_2_32x32-4.svg)Curve.finance GovernanceTommyGenesis![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/236e8d42f0282109552eb0849f8987a75ca5b51b-1.png)](https://gov.curve.finance/t/redirect-yb-emissions-to-a-distributor-contract-for-gauge-vote-incentives/10896) The start of YB emissions has already set things in motion — activating the vesting of **75M YB tokens** to the Curve DAO. This creates a continuous stream of incentives that can be strategically redirected toward strengthening crvUSD liquidity. Following this, **Michael Egorov** (founder of Curve and YieldBasis) introduced a broader proposal package to scale YieldBasis responsibly: [Set of proposals for further increasing YB pool capacity and scaling crvUSDSummary Utilize YB available to Curve DAO fully for bribing for crvUSD stablecoin pools (mostly to crvUSD/USDC and crvUSD/USDT, crvUSD/pyUSD, but also can include crvUSD/frxUSD, crvUSD/USDf etc if those collaborate for partner rewards). This stream is dynamic, up to 360k YB per week. Raise PegKeeper limits from current $108M crvUSD in total to $300M crvUSD in total. Give $1B crvUSD allocation for Yield Basis, giving a capacity of $500M to Yield Basis. (1) and (2) are necessary economic prerequ…![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/8b124f7d448c2829ce00fa7212028ee695140a1e_2_32x32-5.svg)Curve.finance Governancemichwill![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/a0f736fd79c0f2f41218f2587b0e2615d63c8825_2_1024x625.png)](https://gov.curve.finance/t/set-of-proposals-for-further-increasing-yb-pool-capacity-and-scaling-crvusd/10897) These proposals focus on: - **Increasing crvUSD liquidity** through deeper incentives and emissions alignment. - **Raising PegKeeper limits** to allow larger crvUSD supply flexibility. - Preparing the system for **safe scaling** of YB pool caps once liquidity conditions improve. Relevant votes are already up for voting: - [Proposal #1238:](https://www.curve.finance/dao/ethereum/proposals/1238-ownership) Setting the $YB emission recipient to `DepositPlatformDivider` - [Proposal #1241:](https://www.curve.finance/dao/ethereum/proposals/1241-ownership) Increasing PegKeeper capacities by a factor of 3 In short: YieldBasis has proven its potential, but **sustainable growth now depends on expanding crvUSD liquidity**. The upcoming DAO votes aim to create exactly that foundation, ensuring both protocols can scale together without compromising stability. --- ### Curve Best Yields & Key Metrics | Week 42, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-42-2025/ Last updated: 2025-10-16T15:08:58.000Z ## Market Overview It's been a tough week for all markets, but Curve saw growth. **TVL increased 1.8% to $2.832B**, a rise largely driven by the [YieldBasis](https://yieldbasis.com/) deposit cap increase and in stark contrast to the 9.0% drop observed across all of DeFi, according to [DefiLlama](https://defillama.com/). Following the [DAOs vote](https://www.curve.finance/dao/ethereum/proposals/1222-ownership) to increase YieldBasis's crvUSD credit line to $300M, YB's pools (which utilize Curve's FXSwap technology) almost instantly hit their deposit cap. The YB token generation event then took place, including an [airdrop available](https://x.com/newmichwill/status/1978433479525257446?s=12) to all veCRV holders who voted for the YB proposals. There are some great yields available this week, with solvBTC surprisingly topping the charts. See the highlighted yields and metrics below. ## Top Yields ### USD Stablecoins | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-521/deposit) | Pool | 36.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-518/deposit) | Pool | 30.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 23.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x5542f82389b76c23f5848268893234d8a63fd5c8.png)mMEV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-4/deposit) | Pool | 20.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x733d504435a49fc8c4e9759e756c2846c92f0160.png)mRe7YIELD](https://curve.finance/dex/etherlink/pools/factory-stable-ng-8/deposit) | Pool | 20.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x41a5477364bf60d8936b90310fecfda79593304e.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x9fb76f7ce5fceaa2c42887ff441d46095e494206.png)wstkscUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-115/deposit) | Pool | 19.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x53a6abb52b2f968fa80df6a894e4f1b1020da975.png)dUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-102/deposit) | Pool | 17.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x2247b5a46bb79421a314ab0f0b67ffd11dd37ee4.png)mBASIS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-3/deposit) | Pool | 17.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3b5f2810fb2168ffa9c73160f97bf9f2461ffa5c.png)litUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-562/deposit) | Pool | 17.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 16.2% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/tac.png "Tac") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0xae4efbc7736f963982aacb17efa37fcbab924cb3.png)SolvBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0xc99f5c922dae05b6e2ff83463ce705ef7c91f077.png)xSolvBTC](https://curve.finance/dex/tac/pools/factory-stable-ng-20/deposit) | BTC | 54.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve WETH ARB](https://www.curve.finance/dex/sonic/pools/factory-stable-ng-87/deposit) | ETH | 29.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xbfc94cd2b1e55999cfc7347a9313e88702b83d0f.png)WBTC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-1/deposit) | BTC | 14.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/taiko.png "Taiko") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve WETH](https://www.curve.finance/dex/taiko/pools/factory-stable-ng-6/deposit) | ETH | 6.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 6.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 3.2% | ### Other Top Yields Gold is a very in demand asset currently, and so with the new [Better Gold Pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-397/deposit) seeing strong demand and organic yield generation, we've included it below. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 40.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://www.curve.finance/dex/sonic/pools/factory-twocrypto-29/deposit) | CRV | 20.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 7.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9.png)USD₮0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/tricrypto/deposit) | TRICRYPTO | 7.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x68749665ff8d2d112fa859aa293f07a622782f38.png)XAUt![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x45804880de22913dafe09f4980848ece6ecbaf78.png)PAXG](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-397/deposit) | GOLD | 4.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3231cb76718cdef2155fc47b5286d82e6eda273f.png)EURe](https://curve.finance/dex/#/ethereum/pools/factory-v2-231/deposit) | EUR | 2.3% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD saw a severe decline in minted supply on Curve this week, as users anxiously closed loans following the flash crash. This brief dip in supply caused crvUSD to temporarily trade slightly above its peg, prompting PegKeepers to deploy significant reserves to the market and quickly stabilize the price. With rates this low, it is a great time to borrow. All [crvUSD minting markets](https://www.curve.finance/llamalend/ethereum/markets) are functioning perfectly following the volatility. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $91.3M | \-21.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $41.7M | +$41.7M | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 7.1% | \-4.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 65.2% | +14.8% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $1.0001 | +$0.0003 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 1.3% | \-11.5% | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets?ref=news.curve.finance) unfortunately saw some liquidations and a small amount of [bad debt](https://gov.curve.finance/t/temp-check-use-treasury-funds-to-repay-bad-debt/10876/7) during the flash crash, due to the rapid drop in prices and the simultaneous spike in gas costs. This explains the drop in all Llamalend metrics this week; however, with borrow rates remaining so low, new borrowers should reappear once the dust settles. This also presents a great learning opportunity for effectively parametrizing lending markets for safety, and Llamalend is becoming stronger and more robust after this event. | Metric | Value | Change | | ---------------- | ------ | ------- | | 🦙 Llamalend TVL | $284M | \-19.0% | | 🦙 Supplied | $93.6M | \-11.7% | | 🦙 Borrowed | $165M | \-18.7% | | 🦙 Collateral | $263M | \-20.5% | | 🦙 Loans | 1423 | \-86 | ### DEX [DEX pools](https://www.curve.finance/dex/ethereum/pools/?ref=news.curve.finance) saw huge volumes and fees this week due to the volatility. Total TVL also increased, a rise largely attributed to YB pools, which added approximately $240M. *Note: YB pools are included in these TVL and volume calculations; however, their pool fees have been excluded as they flow directly to the YB protocol.* | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.71B | +3.5% | | 🔄 Volume | $2.93B | +51.7% | | 🔄 Swaps | 786k | +72.7% | | 🔄 Total Fees | $936k | +80.1% | ### DAO With the decline in altcoins this week, the CRV price also declined, which in turn decreased the value of CRV emissions. However, the veCRV distribution increased by over 50%, and CRV inflation is now forever below 5%. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.41B | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 865M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 788M | +0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $365k | +50.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $1.32M (2.22M CRV) | \-22.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 4.997% | \-0.005% | ## DEX Winners & Losers ### Fees Winners & Losers The biggest increase in fees this week were all Tricrypto pools, as swappers paid for access to the deep liquidity these pools offer across each of their three assets. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $71.7M | $141k | +$125k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $47.8M | $113k | +$102k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $90.2M | $59k | +$46.8k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $26.5M | $7.4k | \-$4.12k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xda10009cbd5d07dd0cecc66161fc93d7c9000da1.png)DAI](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-200/deposit) | $204k | $610 | \-$4.5k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xda10009cbd5d07dd0cecc66161fc93d7c9000da1.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9.png)USD₮0](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-201/deposit) | $199k | $598 | \-$4.93k | ### Volume Winners & Losers The biggest increase in volume this week came from the 3Pool. It's also great to see the crvUSD/USDC pool among the top volume winners, as the YB pools continue to increase demand for crvUSD liquidity. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $236M | $35.3k | +$115M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $145M | $14.5k | +$89.6M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-12/deposit) | $97.6M | $10.2k | +$84.7M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $26.5M | $7.4k | \-$31M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-193/deposit) | $56.9M | $6.01k | \-$37.1M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $144M | $1.71k | \-$174M | ### TVL Winners & Losers The biggest TVL increases came from the three YB pools, with each pool increasing by **$40M in BTC and $40M in crvUSD.** | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-251/deposit) | $101M | +$80.3M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-252/deposit) | $101M | +$80M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-253/deposit) | $101M | +$79.9M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x19ebd191f7a24ece672ba13a302212b5ef7f35cb.png)yUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x80ac24aa929eaf5013f6436cda2a7ba190f5cc0b.png)syrupUSDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-513/deposit) | $0 | \-$9.28M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $188M | \-$17.4M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-178/deposit) | $12.7M | \-$23M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers Mostly there were net outflows from crvUSD minting markets; however, the tBTC market saw a $1.2M increase in its borrowed amount, and sfrxETH saw an increase of $170k as well. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $23.2M | $10.9M | +$1.23M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $6.71M | $3.66M | +$170k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $640k | $150k | +$186 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $64.5M | $38.9M | \-$989k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $10.3M | $4.08M | \-$5.21M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $66.6M | $30.7M | \-$19.5M | ### Lend Markets - Borrowing Winners & Losers Only small increases in borrowing markets existed this week, as users sought a flight to safety and closed leveraged and loan positions. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-10/vault/deposit) | $1.52M | $1.06M | +$27.6k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $14.9M | $12.5M | +$18.4k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/lend/#/fraxtal/markets/one-way-market-0/vault/deposit) | $896k | $623k | +$14.1k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $2.24M | $1.62M | \-$1.52M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $13.1M | $8.78M | \-$3.84M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $24.7M | $20.4M | \-$4.02M | ### Lend Markets - Supplying Winners & Losers The WBTC lend market on Ethereum still saw a strong increase in crvUSD supplied, as did the ycvxCRV market relative to its TVL. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $5.49M | $4.65M | +$362k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x95f19b19aff698169a1a0bbc28a2e47b14cb9a86.png)ycvxCRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-35/vault/deposit) | $129k | $89.1k | +$16.4k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-17/vault/deposit) | $11.2k | $8.47k | +$1.68k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $2.24M | $1.62M | \-$1.72M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $13.1M | $8.78M | \-$1.79M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $24.7M | $20.4M | \-$3.6M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools?ref=news.curve.finance) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets?ref=news.curve.finance) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD?ref=news.curve.finance) ***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***](https://t.me/curvefi?ref=news.curve.finance) ***or*** [***Discord***](https://discord.gg/twUngQYz85?ref=news.curve.finance)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/?ref=news.curve.finance), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/?ref=news.curve.finance), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/?ref=news.curve.finance). ### Curve Best Yields & Key Metrics | Week 41, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-41-2025/ Last updated: 2025-10-09T13:44:09.000Z ## Market Overview Another great week for Curve, with **TVL increasing 2.5% to $2.782B.** Here's the news: - [Research by Pangea](https://blog.pangea.foundation/does-yieldbasis-benefit-curve/) suggests every $1 in YB pool volume is equating to more than $1 of Curve pool volume - [Curve is live on X-layer](https://x.com/CurveFinance/status/1976180836165619934) - [Curve's October monthly recap was released](https://news.curve.finance/curve-monthly-recap-september-2025/) As always there are some great yields available, see the highlighted opportunities below, and check out the weekly metrics. ## Top Yields ### USD Stablecoins [Parallel](https://app.parallel.best/)'s USDp pool took the top spot this week, with [Mezo](https://mezo.org/)'s MUSD pools coming in second and third. | Chain | Market | Type | Yield | | ------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x08417cdb7f52a5021bb4eb6e0deaf3f295c3f182.png)USDp![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-116/deposit) | Pool | 101.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-521/deposit) | Pool | 35.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-518/deposit) | Pool | 33.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xd3dce716f3ef535c5ff8d041c1a41c3bd89b97ae.png)scUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-25/deposit) | Pool | 31.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x53a6abb52b2f968fa80df6a894e4f1b1020da975.png)dUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-102/deposit) | Pool | 27.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x5542f82389b76c23f5848268893234d8a63fd5c8.png)mMEV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0x796ea11fa2dd751ed01b53c372ffdb4aaa8f00f9.png)USDC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-4/deposit) | Pool | 25.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3b5f2810fb2168ffa9c73160f97bf9f2461ffa5c.png)litUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-562/deposit) | Pool | 23.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x41a5477364bf60d8936b90310fecfda79593304e.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x9fb76f7ce5fceaa2c42887ff441d46095e494206.png)wstkscUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-115/deposit) | Pool | 22.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/kava.png "Kava") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-kava/0x7f5373ae26c3e8ffc4c77b7255df7ec1a9af52a6.png)axlUSDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-kava/0x919c1c267bc06a7039e03fcc2ef738525769109c.png)USDt](https://curve.finance/dex/#/kava/pools/factory-v2-13/deposit) | Pool | 21.8% | ### Top BTC & ETH Yields The [LBTC/WBTC pool on Etherlink](https://www.curve.finance/dex/etherlink/pools/factory-stable-ng-1/deposit) is offering some huge BTC yield this week at 13.2%. | Chain | Market | Asset | Yield | | ------------------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xbfc94cd2b1e55999cfc7347a9313e88702b83d0f.png)WBTC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-1/deposit) | BTC | 13.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-142/deposit) | ETH | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000006.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-6/deposit) | ETH | 4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-113/deposit) | ETH | 4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | 2.0% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-106/deposit) | CRV | 34.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV2](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-106/deposit) | CRV | 19.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9.png)USD₮0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/tricrypto/deposit) | TRICRYPTO | 11.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 4.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 2.6% | ## Weekly Metrics ### crvUSD & scrvUSD The amount of crvUSD minted increased by 5% this week, and this borrowing demand pushed the borrow rate to 13%. The good news is that this high borrow rate is keeping the [scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) yield elevated, at 11.7% APY. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $116M | +5.0% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $91.7k | \-$7.19M | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 11.7% | +0.8% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 50.4% | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $0.9994 | \-$0.0006 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 13.0% | +4.1% | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets) saw its borrowed figure increase by 4.8%, while only seeing a smaller 1.6% increase in collateral, and a reduction in total loans open. This suggests users staying in the market are borrowing more, and taking on more risk. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $348M | +0.2% | | 🦙 Supplied | $106M | \-0.5% | | 🦙 Borrowed | $203M | +4.8% | | 🦙 Collateral | $329M | +1.6% | | 🦙 Loans | 1509 | \-20 | ### DEX [DEX pools](https://www.curve.finance/dex/ethereum/pools/) saw a great week, with swap numbers and total volumes down, however the most important metrics of total fees and TVL were up on the week. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.61B | +2.3% | | 🔄 Volume | $1.93B | \-37.5% | | 🔄 Swaps | 455k | \-7.7% | | 🔄 Total Fees | $520k | +7.9% | ### DAO This is the last ever week CRV inflation will be above 5%. Next week it will fall to 4.996%. It will continue falling gradually forever, just as programmed. The veCRV distribution was down slightly after last weeks higher than usual amount, however the price of CRV increased over the week, leading to a higher $ value of CRV emissions. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.41B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 865M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 785M | \-0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $238k | \-17.0% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $1.69M (2.22M CRV) | +13.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 5.001% | \-0.005% | ## DEX Winners & Losers ### Fees Winners & Losers The top pools here are all the YB BTC pools, which are built on top of Curve's technology. They show the power of the new FXSwap pools, which are the future of volatile swaps on Curve. [Let the Curve team know](https://t.me/curvefi) if you would like your own FXSwap pool for your project. *Note: next week we will remove these YB pools from any further calculations of fees and volumes, as they only indirectly benefit Curve.* | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-252/deposit) | $5.83M | $58.3k | +$53.2k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-253/deposit) | $5.38M | $53.8k | +$50.5k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-251/deposit) | $4.88M | $48.8k | +$43.9k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-twocrypto-2/deposit) | $2.01M | $5.1k | \-$12k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000006.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/fraxtal/pools/factory-tricrypto-2/deposit) | $2.01M | $5.1k | \-$12k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-391/deposit) | $29.5M | $9.06k | \-$30.9k | ### Volume Winners & Losers After last week's huge volumes, we've seen some cooling across the biggest volume pools, which is normal. However, weETH, RLUSD, and fxUSD all showed increased demand. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $90.6M | $4.7k | +$31.7M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $154M | $30.7k | +$25.8M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-193/deposit) | $94M | $9.49k | +$16.7M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-391/deposit) | $29.5M | $9.06k | \-$104M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $70.3M | $921 | \-$118M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $318M | $3.26k | \-$439M | ### TVL Winners & Losers The crvUSD/USDC pool's TVL regularly fluctuates from PegKeeper's deploying and withdrawing their allocated crvUSD reserves to the pool. While the [sUSDai](https://usd.ai/) pool has almost doubled it's TVL, and the new Dialectic ETH pools by [Makina](https://app.makina.finance/) have also seen huge inflows. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-178/deposit) | $35.5M | +$16.9M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x871ab8e36cae9af35c6a3488b049965233deb7ed.png)DETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-579/deposit) | $38.2M | +$14M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1e33e98af620f1d563fcd3cfd3c75ace841204ef.png)DUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-580/deposit) | $35.2M | +$11.2M | | ... | ... | ... | ... | ... | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-303/deposit) | $4.22M | \-$3.18M | | 0 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x66a1e37c9b0eaddca17d3662d6c05f4decf3e110.png)USR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-337/deposit) | $35.3M | \-$4M | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $14.9M | \-$4.9M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers Regular old ETH and WBTC markets were the winners this week, with both markets minting substantial amounts of crvUSD. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png)ETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $71M | $40.2M | +$2.9M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $97.7M | $50.2M | +$2.72M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $17.6M | $9.29M | +$127k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $279k | $130k | \-$443 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $3M | $1.55M | \-$157k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $23.9M | $9.62M | \-$214k | ### Lend Markets - Borrowing Winners & Losers fxSAVE continues to show it's strength, as does sDOLA and sreUSD. Reassuringly, there were no large outflows from any lend market this week. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $12M | $10.3M | +$2.35M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $28.3M | $24.4M | +$589k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $8.99M | $7.77M | +$527k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $15.6M | $12.5M | \-$19.3k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/lend/#/fraxtal/markets/one-way-market-1/vault/deposit) | $499k | $369k | \-$58.9k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $14.9M | $12.6M | \-$247k | ### Lend Markets - Supplying Winners & Losers From the metrics we saw the total supplied to lending markets was almost unchanged this week. However, there did seem to be some rotation between markets, which is shown below. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $12M | $10.3M | +$2.48M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $15.6M | $12.5M | +$644k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $3.96M | $3.15M | +$349k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $28.3M | $24.4M | \-$560k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $5.09M | $4.65M | \-$615k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $14.9M | $12.6M | \-$3.16M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Monthly Recap September, 2025 URL: https://news.curve.finance/curve-monthly-recap-september-2025/ Last updated: 2025-10-04T06:57:50.000Z **Key Highlights of September:** - First FXSwap pools in production, outperforming tricrypto - YieldBasis launches their pools on Curve - Plasma live with Curve day one, $25M TVL in week one - Spark added PYUSD<>USDS pool (PayPal partnership), $80M TVL - Savings-crvUSD yields hit record highs above 9% APY - CRV listed on Robinhood for U.S. retail access --- ### **FXSwap In Production** Curve introduced a new pool design last month: **FXSwap**, optimized for swaps between two correlated assets. Built as an upgrade to Cryptoswap, FXSwap is designed for low-volatility pairs such as BTC<>crvUSD, EUR<>USD, or GOLD<>USD. 🧪 These pools are currently being tested to gather data and ensure a smooth full rollout. The new design adds a **refuel mechanism** that allows pools to rebalance liquidity smoothly when markets move. Refuels act like a drip-released buffer that offsets impermanent loss for LPs while keeping spreads tight for traders. The result: LPs retain more yield and traders get better execution, without relying on short-term emissions to keep markets aligned. Early results highlight the design’s efficiency. As noted by a Curve developer on X, the [crvUSD<>WBTC](https://www.curve.finance/dex/ethereum/pools/factory-twocrypto-251/deposit) pool with only $2M TVL is **already offering better exchange rates** than the original [tricrypto pool](https://www.curve.finance/dex/ethereum/pools/factory-tricrypto-1/deposit) with $27M TVL. This efficiency positions FXSwap as a likely new standard for correlated asset trading on Curve, with broader applications once integrations and pool caps expand. > The new version of twocrypto is very efficient! I'm proud of our work at [@CurveFinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw). > The crvUSD-wBTC pool on [@yieldbasis](https://twitter.com/yieldbasis?ref%5Fsrc=twsrc%5Etfw), with $2M TVL, offers better rates than the og tricrypto ($27M TVL). These pools will be the primary place to swap bitcoin once deposit caps are raised. [pic.twitter.com/25xvPJ02jQ](https://t.co/25xvPJ02jQ) > > — heswithme (@heswithme\_eth) [September 26, 2025](https://twitter.com/heswithme%5Feth/status/1971627879240028301?ref%5Fsrc=twsrc%5Etfw) ### **YieldBasis Launch** [**YieldBasis**](https://x.com/yieldbasis), a protocol built on Curve and powered by the new FXSwap pools, launched on September 24\. It enables BTC liquidity provision without impermanent loss by maintaining 2x compound leverage. The launch of YieldBasis followed the execution of DAO proposal [#1206](https://www.curve.finance/dao/ethereum/proposals/1206-ownership), which approved a **60M crvUSD credit line** used to maintain a 2x compounding leverage in the system. Three BTC markets — WBTC, cbBTC, and tBTC — opened with **$1M caps each, all filling instantly**. Thanks to the leverage mechanism, this translated into a **$6M TVL increase on Curve** across the three pools. > Cryptopools at [@CurveFinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw) related to [@yieldbasis](https://twitter.com/yieldbasis?ref%5Fsrc=twsrc%5Etfw) are heating up. Looks like all organic volume so far - DEX aggregators and arbitrage [pic.twitter.com/s0IYfRgs5J](https://t.co/s0IYfRgs5J) > > — Michael Egorov (@newmichwill) [September 29, 2025](https://twitter.com/newmichwill/status/1972736408428384289?ref%5Fsrc=twsrc%5Etfw) During the rollout, minor deposit issues were identified. A follow-up governance proposal ([#1213](https://www.curve.finance/dao/ethereum/proposals/1213-ownership)) went live to adjust pool parameters and passed on October 2\. As a result, pool caps were raised to $10M per pool — and once again filled within minutes (another **+26M in TVL for Curve**). ### **Plasma Launch** Plasma officially **launched on September 25**, marking the debut of a new layer for incentivized liquidity. Curve deployed its DEX infrastructure on day one, **providing deep and reliable liquidity** for all trades on the chain. The launch began with Merkle-distributed incentives, fueling rapid adoption: within just a week, Plasma attracted **over $25M in TVL**. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/10/plasma.png) Ecosystem integrations followed quickly. [Gearbox](https://x.com/GearboxProtocol/status/1972693987250327880) enabled users to leverage Curve LP positions on Plasma up to 12x, while [Gluex](https://x.com/GluexProtocol/status/1968337167949951296), a DEX aggregator, integrated Curve pools into its liquidity module, giving traders access to Curve’s deep liquidity and routing trades for the best available rates. ### **Spark Liquidity Layer - “It just works!”** Spark Protocol expanded its **liquidity layer on Curve** this month with a new **PYUSD<>USDS pool**, launched through a **PayPal–Spark partnership**. Just over a week after launch, the pool is already sitting at **$80M in TVL** and has facilitated more than **$850M in trading volume**. This addition builds on Spark’s existing presence on Curve, where the **sUSDS<>USDT pool already holds over $51M in TVL**. Together, these markets strengthen the secondary liquidity backing Spark’s stablecoin ecosystem. As [MonetSupply](https://x.com/MonetSupply), Head of Strategy at Spark, explained, Spark chose Curve for its **rock-solid infrastructure, universal integrations, and ease of use for liquidity providers** — ensuring deep, reliable, and efficient markets for its stablecoins. With Spark deepening its Curve integrations, Curve further solidifies its role as **reliable, efficient base-layer infrastructure for stablecoin liquidity**. > trust and safety- curve is rock solid infra and we feel comfortable holding 8-9 figures in curve smart contracts > > integrations- whether users go to curve frontend or an aggregator/wallet, they’ll always have access to curve liquidity > > usability- curve just works, very easy to… > > — monetsupply.eth (@MonetSupply) [September 25, 2025](https://twitter.com/MonetSupply/status/1971271560670638494?ref%5Fsrc=twsrc%5Etfw) ## **Savings-crvUSD Yield at Record Heights!** Over the past six months, savings-crvUSD **yields have steadily climbed**, reaching record highs above 10% APY. In September 2025, the average APY was a staggering **9.08%** — placing it among the highest-yielding stablecoins alongside savings-reUSD and fxSAVE. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/10/scrvusd-yield.png) ### **CRV on Robinhood** On September 18, Curve’s governance token **CRV** was listed on Robinhood, giving millions of U.S. retail users the ability to purchase and trade CRV directly through one of the most widely used investing apps. > [$CRV](https://twitter.com/search?q=%24CRV&src=ctag&ref%5Fsrc=twsrc%5Etfw) is now available to trade on Robinhood and Robinhood Legend. [pic.twitter.com/rVeUb78Wao](https://t.co/rVeUb78Wao) > > — Robinhood (@RobinhoodApp) [September 18, 2025](https://twitter.com/RobinhoodApp/status/1968664576246890814?ref%5Fsrc=twsrc%5Etfw) --- ### Curve Best Yields & Key Metrics | Week 40, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-40-2025/ Last updated: 2025-10-02T15:16:16.000Z ## Market Overview What a week for Curve! **Total Value Locked (TVL) surged by 9.4% to reach $2.704B**, propelled by significant growth and volume across the DEX pools. In a testament to high demand, [YieldBasis](https://yieldbasis.com/) optimized parameters in their three BTC pools and increased their caps to $10M, and all pools hit these caps in under 20 minutes! The yields are incredible this week. Let's dive into some of the standout opportunities and key metrics from across the ecosystem. ## Top Yields *Note yields shown are available directly on Curve, other partner projects like* [*Convex*](https://www.convexfinance.com/)*,* [*StakeDAO*](https://www.stakedao.org/) *and* [*Yearn*](https://yearn.fi/) *may allow you to boost yields more than listed here.* ### USD Stablecoins | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1202f5c7b4b9e47a1a484e8b270be34dbbc75055.png)wstUSR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-568/deposit) | Pool | 68.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0ed3359902eff692e5b8167038133a73d641909.png)USDFI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9cf12ccd6020b6888e4d4c4e4c7aca33c1eb91f8.png)USDaf![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09fd37d9aa613789c517e76df1c53aece2b60df4.png)ebUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6440f144b7e50d6a8439336510312d2f54beb01d.png)BOLD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-564/deposit) | Pool | 59.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-521/deposit) | Pool | 57.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0ed3359902eff692e5b8167038133a73d641909.png)USDFI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-527/deposit) | Pool | 47.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3b5f2810fb2168ffa9c73160f97bf9f2461ffa5c.png)litUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-562/deposit) | Pool | 46.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdd468a1ddc392dcdbef6db6e34e89aa338f9f186.png)MUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-518/deposit) | Pool | 40.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/kava.png "Kava") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-kava/0x7f5373ae26c3e8ffc4c77b7255df7ec1a9af52a6.png)axlUSDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-kava/0x919c1c267bc06a7039e03fcc2ef738525769109c.png)USDt](https://curve.finance/dex/#/kava/pools/factory-v2-13/deposit) | Pool | 39.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3db228fe836d99ccb25ec4dfdc80ed6d2cddcb4b.png)ynUSDx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-501/deposit) | Pool | 29.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-539/deposit) | Pool | 27.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3b5f2810fb2168ffa9c73160f97bf9f2461ffa5c.png)litUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-529/deposit) | Pool | 26.4% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xbfc94cd2b1e55999cfc7347a9313e88702b83d0f.png)WBTC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-1/deposit) | BTC | 15.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/tac.png "Tac") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0x61d66bc21fed820938021b06e9b2291f3fb91945.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0xaf368c91793cb22739386dfcbbb2f1a9e4bcbebf.png)wstETH](https://curve.finance/dex/tac/pools/factory-stable-ng-10/deposit) | ETH | 7.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/tac.png "Tac") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0x61d66bc21fed820938021b06e9b2291f3fb91945.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0x5448bbf60ee2edbcd32f032f3294982f4ad1119e.png)wrsETH](https://curve.finance/dex/tac/pools/factory-stable-ng-12/deposit) | ETH | 7.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf1376bcef0f78459c0ed0ba5ddce976f1ddf51f4.png)uniETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-499/deposit) | ETH | 6.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 3.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/tac.png "Tac") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0xf9775085d726e782e83585033b58606f7731ab18.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0xe82dbd543fd729418613d68cd1e8fc67b0f46e31.png)M-BTC](https://curve.finance/dex/tac/pools/factory-stable-ng-7/deposit) | BTC | 3.1% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-106/deposit) | CRV | 29.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV2](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-106/deposit) | CRV | 16.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 6.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 1.9% | ## Weekly Metrics ### crvUSD & scrvUSD The scrvUSD yield remains high for another week. The borrow rate has decreased to 8.8%, and the peg stability reserves have begun to refill. In the future with more liquidity available in crvUSD pools, we should see these fluctuations in borrowing rates subside. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | ------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $111M | \-2.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $7.28M | +$6.57M | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 10.9% | \-1.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 50.3% | +6.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $1.0000 | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 8.8% | \-3.2% | ### Llamalend Loan metrics remained mostly steady this week, with only small declines in supplied, borrowed, and total number of loans. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $347M | \-0.6% | | 🦙 Supplied | $107M | \-3.5% | | 🦙 Borrowed | $194M | \-3.1% | | 🦙 Collateral | $324M | \-0.7% | | 🦙 Loans | 1529 | \-38 | ### DEX The DEX had a fantastic week, with a huge 80% increase in volume. This led to a 46% rise in total fees and a significant increase in TVL. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.55B | +11.1% | | 🔄 Volume | $3.09B | +79.9% | | 🔄 Swaps | 493k | +25.3% | | 🔄 Total Fees | $482k | +46.6% | ### DAO Total veCRV increased this week as users relocked their CRV. veCRV holders were rewarded with an almost 20% increase in distributed revenue. The value of the CRV token was down an average of 10% during the week, leading to a lower dollar value of emissions. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ----------------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.41B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 866M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 788M | +0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $287k | +17.9% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $1.5M (2.22M CRV) | \-10.0% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 5.006% | \-0.005% | ## DEX Winners & Losers ### Fees Winners & Losers [Falcon](https://falcon.finance/)'s USDf had a great week across multiple metrics, including fees, driven largely by hype surrounding their FF token launch. Also, the week's volatility meant Tricrypto pools saw good fee generation and volumes. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-391/deposit) | $133M | $40k | +$24.1k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $21.2M | $25.3k | +$14.2k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000006.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/fraxtal/pools/factory-tricrypto-2/deposit) | $3.97M | $17.1k | +$12k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $69.8M | $6.98k | \-$3.01k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $3.18M | $10.8k | \-$6.42k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $37.9M | $3.79k | \-$12.8k | ### Volume Winners & Losers The PayPal and Spark PYUSD/USDS pool saw an incredible $758M in volume as Curve becomes the default swap venue for these stablecoins, with users migrating away from the PYUSD/USDC pool. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $758M | $7.58k | +$668M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-391/deposit) | $133M | $40k | +$80.5M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $91.5M | $9.15k | +$66.5M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-370/deposit) | $23.9M | $4.78k | \-$14.5M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $69.8M | $6.98k | \-$30.1M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $37.9M | $3.79k | \-$128M | ### TVL Winners & Losers USDf and the PYUSD/USDS pool were the big TVL winners for the week. We can also see a YieldBasis pool among the top gainers, reflecting its successful launch. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $80.2M | +$55M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-391/deposit) | $52.1M | +$18.7M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-252/deposit) | $20M | +$18M | | ... | ... | ... | ... | ... | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $177M | \-$7.32M | | 0 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbdc7c08592ee4aa51d06c27ee23d5087d65adbcd.png)USDL![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-243/deposit) | $705 | \-$9.91M | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $20.9M | \-$10.7M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers We're observing users strategically moving capital in response to changing borrowing rates, which in turn helps to balance those rates. As crvUSD liquidity increases in time, we should see less rate volatility, making Curve an even more attractive borrowing venue. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $95.2M | $47.6M | +$736k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $18.3M | $9.16M | +$204k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $7.13M | $3.45M | +$82.5k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $3.17M | $1.71M | \-$119k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $70.2M | $37.4M | \-$1.69M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $23.8M | $9.83M | \-$1.79M | ### Lend Markets - Borrowing Winners & Losers fxSAVE was the big winner this week due to its highly negative borrowing rate, allowing users to leverage and earn extra yield. The same dynamic was seen with sreUSD. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $9.73M | $7.98M | +$2.08M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $8.71M | $7.24M | +$1.67M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $3.61M | $2.68M | +$275k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000002.png)WFRAX](https://curve.finance/lend/#/fraxtal/markets/one-way-market-2/vault/deposit) | $844k | $389k | \-$175k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $28.9M | $24M | \-$1.77M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $18M | $12.9M | \-$5.3M | ### Lend Markets - Supplying Winners & Losers This week showed a truly symbiotic relationship: as borrowers looped to access extra yield, more capital entered the market to supply them. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $9.73M | $7.98M | +$2.4M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $8.71M | $7.24M | +$1.35M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $5.71M | $4.56M | +$274k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-17/vault/deposit) | $258k | $186k | \-$988k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $28.9M | $24M | \-$1.14M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $18M | $12.9M | \-$4.87M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Best Yields & Key Metrics | Week 39, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-39-2025/ Last updated: 2025-09-25T14:17:49.000Z ## Market Overview Crypto markets are down across the board this week; here are the key updates for [Curve](https://www.curve.finance/dex/ethereum/pools): - TVL decreased **6.3%** to **$2.476B**, outperforming the average **8.2%** decline across the DeFi sector. - [scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) made its debut among the top yields this week, offering **12.6%**. - Using a credit line from Curve, [YieldBasis](https://yieldbasis.com/) successfully launched and has reached its initial **$1M** deposit limit for its three markets (WBTC, tBTC, and cbBTC). - [Curve is now live on Plasma](https://news.curve.finance/curve-live-on-plasma/). ## Top Yields ### USD Stablecoins | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x41a5477364bf60d8936b90310fecfda79593304e.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x9fb76f7ce5fceaa2c42887ff441d46095e494206.png)wstkscUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-115/deposit) | Pool | 17.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x58acc2600835211dcb5847c5fa422791fd492409.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-67/deposit) | Pool | 16.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x7a10f506e4c7658e6ad15fdf0443d450b7fa80d7.png)EYWA](https://curve.finance/lend/#/arbitrum/markets/one-way-market-21/vault/deposit) | Llamalend | 15.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/lend/#/fraxtal/markets/one-way-market-1/vault/deposit) | Llamalend | 15.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 13.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 13.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/lend/#/optimism/markets/one-way-market-0/vault/deposit) | Llamalend | 12.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD scrvUSD 12.6% ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") ](https://www.curve.finance/crvusd/ethereum/scrvUSD)[![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xda10009cbd5d07dd0cecc66161fc93d7c9000da1.png)DAI](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-200/deposit) | Pool | 12.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xda10009cbd5d07dd0cecc66161fc93d7c9000da1.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9.png)USD₮0](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-201/deposit) | Pool | 12.5% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-303/deposit) | ETH | 5.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000006.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-6/deposit) | ETH | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 3.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | 1.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-69/deposit) | BTC | 1.3% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV/USD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-106/deposit) | CRV | 26.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV2](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-106/deposit) | CRV | 18.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 2.0% | ## Weekly Metrics ### crvUSD & scrvUSD Borrow rates remain high, however, the crvUSD peg has now recovered to exactly $1\. Consequently, rates should begin to decline, and peg stability reserves will slowly be deployed. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $113M | \-2.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $713k | \-$244k | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 12.6% | +6.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 44.5% | \-3.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $1.0000 | +$0.0002 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 12.1% | +0.3% | ### Llamalend Llamalend TVL is down, but this seems to be mostly due to collateral values decreasing, as loans and borrowed amounts seem to be sticky in comparison. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $350M | \-8.4% | | 🦙 Supplied | $111M | +1.6% | | 🦙 Borrowed | $199M | \-0.8% | | 🦙 Collateral | $326M | \-9.1% | | 🦙 Loans | 1568 | \-1 | ### DEX TVL is down, however swaps and volumes increased. Interestingly, the total swapping fees remained the almost exactly the same at $328k, up only $107 this week compared to last week. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.29B | \-5.5% | | 🔄 Volume | $1.72B | +6.1% | | 🔄 Swaps | 394k | +3.6% | | 🔄 Total Fees | $328k | \- | ### DAO veCRV holders saw a substantial increase in generated fees this week, up over 29% from last week to $243k. While a decline in the CRV token price affected emission values, other key metrics remained steady. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.41B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 866M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 785M | \-0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $243k | +29.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $1.66M (2.22M CRV) | \-5.0% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 5.011% | \-0.005% | ## DEX Winners & Losers ETH pools in general were the big losers this week. With the decline in ETH price came a decline in liquidity demand, especially between stETH and ETH. The 3pool (DAI/USDC/USDT pool) had a great week however, as did sUSDe pools. ### Fees Winners & Losers | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x83f20f44975d03b1b09e64809b757c47f942beea.png)sDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-102/deposit) | $40.5M | $8.11k | +$5.56k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $157M | $23.5k | +$5.28k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-370/deposit) | $38.4M | $7.68k | +$5.17k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $26.4M | $5.28k | \-$4.59k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $5.48M | $11.1k | \-$9.12k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $99.9M | $9.99k | \-$12.5k | ### Volume Winners & Losers sUSDS and PYUSD saw great volumes this week, while reUSD and stETH pools struggled compared to last week's figures. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $149M | $1.49k | +$70.5M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $157M | $23.5k | +$35.2M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $166M | $16.6k | +$34.5M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $26.4M | $5.28k | \-$22.9M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $42.6M | $3.41k | \-$30.3M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $99.9M | $9.99k | \-$125M | ### TVL Winners & Losers PYUSD and USDS got their own Strategic Reserves pool this week, leading to $25.2M of extra TVL. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdc035d45d973e3ec169d2276ddab16f1e407384f.png)USDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-561/deposit) | $25.2M | +$25.2M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $45.7M | +$3.14M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $19.2M | +$2.9M | | ... | ... | ... | ... | ... | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xdbfefd2e8460a6ee4955a68582f85708baea60a3.png)superOETHb](https://curve.finance/dex/#/base/pools/factory-stable-ng-143/deposit) | $98M | \-$11.1M | | 0 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $102M | \-$13.7M | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $190M | \-$27M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers WBTC was the preferred asset during the week's volatility, with plain WETH seeing the largest borrowing outflows. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $89M | $46.9M | +$301k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $6.69M | $2.57M | +$77.2k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $4.76M | $1.27M | +$3.9k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $17.4M | $8.96M | \-$234k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $256k | $130k | \-$289k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $75.2M | $39.1M | \-$2.1M | ### Lend Markets - Borrowing Winners & Losers The sreUSD market saw a $4.4M increase in crvUSD supply this week, which spurred over $3.3M in new borrowing as users engaged in profitable yield looping. It also appears that borrowers have migrated from the older sDOLA market to the new, larger market. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $7.36M | $5.57M | +$3.32M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $30M | $25.7M | +$971k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.99M | $3.86M | +$94k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $3.5M | $2.4M | \-$533k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-17/vault/deposit) | $1.25M | $213k | \-$1M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $22.9M | $18.2M | \-$1.15M | ### Lend Markets - Supplying Winners & Losers As borrowers closed loans for ETH and it's derivatives, crvUSD supply seems to have moved to other markets. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $7.36M | $5.57M | +$4.4M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $30M | $25.7M | +$383k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx](https://curve.finance/lend/#/ethereum/markets/one-way-market-29/vault/deposit) | $157k | $70.7k | +$83.5k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $3.5M | $2.4M | \-$277k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $2.25M | $1.84M | \-$285k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $22.9M | $18.2M | \-$1.46M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Live on Plasma URL: https://news.curve.finance/curve-live-on-plasma/ Last updated: 2025-09-25T13:00:53.000Z ## Why Plasma Plasma is built for one purpose: moving money. Instead of being a general-purpose chain, it focuses on stablecoins, with USD₮ as its core currency. Zero-fee transactions for USD₮ make it uniquely suited for real-world use cases like merchant payments, payroll, and remittances. Plasma is about creating an ecosystem where stablecoins are the default unit of account, combining: - **Speed**: instant confirmation and fast settlement. - **Focus**: built entirely around stables, not speculative assets. - **Distribution**: backed by Tether, connecting to the largest stablecoin network. - **Utility**: zero-fee USD₮ payments make it viable for everyday spending. As stablecoins move through Plasma, they will need reliable and liquid markets between them. Curve will provide that depth, while Plasma creates the conditions for volume to grow. Together they make up the infrastructure for a stablecoin-first economy. ## Launch Pools At launch, Curve will support the following pools on Plasma: - [USD₮0/USDe](https://www.curve.finance/dex/plasma/pools/factory-stable-ng-0/deposit) - [USD₮0/sUSDe](https://www.curve.finance/dex/plasma/pools/factory-stable-ng-1/deposit) - [USD₮0/USDai](https://www.curve.finance/dex/plasma/pools/factory-stable-ng-2/deposit) - [USD₮0/USDO](https://www.curve.finance/dex/plasma/pools/factory-stable-ng-3/deposit) - [USD₮0/syrupUSDT](https://www.curve.finance/dex/plasma/pools/factory-stable-ng-4/deposit) ## What’s next Curve will expand on Plasma by supporting new stablecoin use cases as they emerge. And with FXSwap launching soon, Curve will add efficient cross-currency trading and open the door to broader FX markets. ### Curve Best Yields & Key Metrics | Week 38, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-38-2025/ Last updated: 2025-09-18T13:47:23.000Z ## Market Overview It was a positive week for Curve, here's the news: - TVL has increased to $2.645B, up 1.8% this week. - Minted crvUSD is up 5.7% for the week. - The [governance vote for YieldBasis's crvUSD loan](https://www.curve.finance/dao/ethereum/proposals/1206-ownership) is live and ongoing. If it passes, YB is clear to launch next week. As always, Curve has some great yields available. Check out the highlighted opportunities and metrics below. ## Top Yields ### USD Stablecoins | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | Llamalend | 24.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd9a442856c234a39a81a089c06451ebaa4306a72.png)pufETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-10/vault/deposit) | Llamalend | 19.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x41a5477364bf60d8936b90310fecfda79593304e.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x9fb76f7ce5fceaa2c42887ff441d46095e494206.png)wstkscUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-115/deposit) | Pool | 16.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 15.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-336/deposit) | Pool | 15.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 13.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x7a10f506e4c7658e6ad15fdf0443d450b7fa80d7.png)EYWA](https://curve.finance/lend/#/arbitrum/markets/one-way-market-21/vault/deposit) | Llamalend | 13.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-194/deposit) | Pool | 12.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x58acc2600835211dcb5847c5fa422791fd492409.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-67/deposit) | Pool | 12.5% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000006.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-6/deposit) | ETH | 5.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa1290d69c65a6fe4df752f95823fae25cb99e5a7.png)rsETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-67/deposit) | ETH | 5.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf1376bcef0f78459c0ed0ba5ddce976f1ddf51f4.png)uniETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-499/deposit) | ETH | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 3.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | 1.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 1.8% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV 2](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-106/deposit) | CRV | 22.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 14.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 6.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 6.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 4.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 2.3% | ## Weekly Metrics ### crvUSD & scrvUSD The amount of crvUSD minted increased by over 5% this week. The peg stability reserves bought back $14M of deployed crvUSD to profit from the very slight depeg and keep the crvUSD peg firm. Because of this slight depeg, the borrow rate has also increased. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $115M | +5.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $957k | \-$14.9M | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 6.5% | \-3.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 47.6% | \-3.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $0.9996 | \-$0.0006 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 11.9% | +5.5% | ### Llamalend Llamalend's metrics are up across the board this week. Interestingly, the number of loans actually decreased, which suggests the increase is from current users growing their position sizes and supplied amounts. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $382M | +5.6% | | 🦙 Supplied | $109M | +6.7% | | 🦙 Borrowed | $201M | +5.6% | | 🦙 Collateral | $359M | +5.3% | | 🦙 Loans | 1570 | \-2 | ### DEX All metrics are higher this week, with the largest increase being the generated fees. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.43B | +1.1% | | 🔄 Volume | $1.62B | +11.4% | | 🔄 Swaps | 380k | +10.9% | | 🔄 Total Fees | $328k | +25.0% | ### DAO DAO metrics stayed steady, the CRV price did lift slightly, which increased the value of emissions, but overall these metrics remain very similar to last week. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.4B | +0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 866M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 789M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $188k | \-1.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $1.75M (2.22M CRV) | +2.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 5.015% | \-0.005% | ## DEX Winners & Losers *All metrics are compared to their previous week's value.* ### Fees Winners & Losers Ripple's [RLUSD/USDC pool](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) had the largest increase in fees this week, with the [DAI/USDC/USDT pool](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) a close second and PayPal's [PYUSD/USDC pool](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) in third. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $98.4M | $19.7k | +$12.8k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $122M | $18.3k | +$11k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $131M | $13.1k | +$7.93k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-370/deposit) | $12.5M | $2.5k | \-$3.52k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x41d5d79431a913c4ae7d69a668ecdfe5ff9dfb68.png)INV](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-101/deposit) | $620k | $2.92k | \-$4.61k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://curve.finance/images/default-crypto.png)ELG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xc2132d05d31c914a87c6611c10748aeb04b58e8f.png)USDT0](https://curve.finance/dex/#/polygon/pools/factory-twocrypto-151/deposit) | $620k | $2.92k | \-$4.61k | ### Volume Winners & Losers The [PYUSD/USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) and [DAI/USDC/USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) pools saw a substantial volume increase this week. However, some pools that have been performing well recently saw huge drops in their volumes, such as the [sUSDS/USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) and [USDT/USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) pools. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $131M | $13.1k | +$79.3M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $122M | $18.3k | +$73.3M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $98.4M | $19.7k | +$64.2M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $39.1M | $3.91k | \-$19.3M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $52.1M | $521 | \-$82.7M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $78.9M | $789 | \-$277M | ### TVL Winners & Losers TVL in ETH pools was up this week, mostly due to the increase in ETH's price. On the other hand, the [crvUSD/USDC pool](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) was the biggest loser, losing just under 50% of its TVL, largely because $14M of Peg Stability Reserves were withdrawn. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $217M | +$11.5M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $117M | +$6.95M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x73a15fed60bf67631dc6cd7bc5b6e8da8190acf5.png)USD0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x35d8949372d46b7a3d5a56006ae77b215fc69bc0.png)USD0++](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-189/deposit) | $50.4M | +$5.25M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-178/deposit) | $10.7M | \-$4.41M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x15700b564ca08d9439c58ca5053166e8317aa138.png)deUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-207/deposit) | $8.89M | \-$5.65M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $16.3M | \-$15.7M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers crvUSD minting markets saw over $5M of new borrows this week, with wstETH being the growth winner. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $19.6M | $9.19M | +$3.31M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $27M | $11.7M | +$1.76M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $7.5M | $2.49M | +$745k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $761k | $419k | +$179 | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $726k | $149k | +$77.1 | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $5.42M | $1.26M | \-$23.2k | ### Lend Markets - Borrowing Winners & Losers It has become a weekly tradition now that the lend markets with the largest supply increases are also the markets with the largest borrowing increases. Demand and supply seem to be moving in unison. The biggest growth stories this week are the fxSAVE and sreUSD markets, both of which grew substantially in percentage terms. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $30M | $24.8M | +$3.24M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $7.58M | $6.02M | +$2.58M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $2.74M | $2.25M | +$2.14M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $15.3M | $12.6M | \-$477k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-17/vault/deposit) | $1.42M | $1.22M | \-$579k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $24.4M | $19.3M | \-$1.84M | ### Lend Markets - Supplying Winners & Losers The weekly winners and losers here are once again almost the same as the winners and losers from the borrowing markets. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $30M | $24.8M | +$4.43M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $7.58M | $6.02M | +$3.17M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x557ab1e003951a73c12d16f0fea8490e39c33c35.png)sreUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-41/vault/deposit) | $2.74M | $2.25M | +$2.61M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/lend/#/ethereum/markets/one-way-market-32/vault/deposit) | $1.77M | $1.23M | \-$470k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-17/vault/deposit) | $1.42M | $1.22M | \-$607k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $24.4M | $19.3M | \-$2.33M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Best Yields & Key Metrics | Week 37, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-37-2025/ Last updated: 2025-09-11T14:01:39.000Z ## Market Overview It's been a relatively quiet week for Curve, as markets stabilize. This week's news: - Curve's total TVL is **$2.607B**, down -0.3% from last week - A vote for [new deployments for FXSwap pools is ongoing](https://www.curve.finance/dao/ethereum/proposals/1197-ownership), as Curve devs continue to find even more efficiency improvements. - [Curve made a proposal](https://x.com/newmichwill/status/1965114685105090956) for a new decentralized stablecoin on Hyperliquid called dUSDH to supplement its [DEX deployment on Hyperliquid.](https://www.curve.finance/dex/hyperliquid/pools) As always, the top highlighted yields of the week are below, along with ecosystem metrics. ## Top Yields ### USD Stablecoins | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x41a5477364bf60d8936b90310fecfda79593304e.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x9fb76f7ce5fceaa2c42887ff441d46095e494206.png)wstkscUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-115/deposit) | Pool | 17.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x7fff4c4a827c84e32c5e175052834111b2ccd270.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x29219dd400f2bf60e5a23d13be72b486d4038894.png)USDC](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-7/deposit) | Pool | 15.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x58acc2600835211dcb5847c5fa422791fd492409.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-67/deposit) | Pool | 15.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x7a10f506e4c7658e6ad15fdf0443d450b7fa80d7.png)EYWA](https://curve.finance/lend/arbitrum/markets/one-way-market-21/vault/deposit) | Llamalend | 15.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 15.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x000000096cb3d4007fc2b79b935c4540c5c2d745.png)jUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-447/deposit) | Pool | 14.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/lend/ethereum/markets/one-way-market-2/vault/deposit) | Llamalend | 13.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 13.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x15700b564ca08d9439c58ca5053166e8317aa138.png)deUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-217/deposit) | Pool | 12.6% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x294eecec65a0142e84aedfd8eb2fbea8c9a9fbad.png)tacETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-428/deposit) | ETH | 6.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfae103dc9cf190ed75350761e95403b7b8afa6c0.png)rswETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-80/deposit) | ETH | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 2.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | 2.1% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV 2](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-106/deposit) | CRV | 32.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 14.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 12.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 7.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 4.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 2.3% | ## Weekly Metrics ### crvUSD & scrvUSD Borrowing rates for crvUSD continue to decline. This is a deliberate and automatic action to incentivize more borrowing, as Peg Stability Reserves are deployed to push the crvUSD price lower and help it maintain its peg. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $109M | \-2.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $15.9M | +$4.71M | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 9.7% | +0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 51.1% | \-0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $1.0002 | +$0.0002 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 6.4% | \-1.0% | ### Llamalend [Llamalend](https://www.curve.finance/llamalend/ethereum/markets)'s overall TVL increased, driven by strong growth in its stablecoin lending markets. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $362M | +1.6% | | 🦙 Supplied | $102M | +1.2% | | 🦙 Borrowed | $190M | +0.2% | | 🦙 Collateral | $341M | +2.1% | | 🦙 Loans | 1572 | +6 | ### DEX While the total volume increased substantially, the number of swaps dropped significantly. This divergence was driven by a decline in low-value swaps on Fraxtal, while at the same time, the average swap size on Ethereum and Arbitrum increased. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.41B | \-0.5% | | 🔄 Volume | $1.45B | +13.8% | | 🔄 Swaps | 342k | \-17.0% | | 🔄 Total Fees | $263k | \-0.8% | ### DAO The DAO saw no significant changes this week, with the CRV price remaining relatively stable. However, veCRV fees did experience a slight drop, primarily due to decreasing crvUSD borrowing rates. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.4B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 868M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 790M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $190k | \-4.8% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $1.71M (2.22M CRV) | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 5.02% | \-0.005% | ## DEX Winners & Losers *All metrics are compared to their previous week's value.* ### Fees Winners & Losers stETH pools saw high volumes again this week, while USDf also experienced significant increases in both volume and fees. In contrast, many Cryptoswap pools had lower volumes and fees due to reduced volatility in their underlying assets. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $237M | $23.7k | +$13.5k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-391/deposit) | $41.4M | $12.4k | +$9.36k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-370/deposit) | $30.1M | $6.03k | +$4.92k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $18.3M | $8.98k | \-$5.59k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $16.9M | $19.5k | \-$6.77k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $2.3M | $6.81k | \-$12.1k | ### Volume Winners & Losers stETH volume doubled this week. Additionally, the new USDai stablecoin also saw a significant increase in volume, and some USDC↔USDT volume appears to have shifted from the [3pool](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) to the [Curve.fi Strategic Reserves pool](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit). | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $237M | $23.7k | +$135M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $135M | $1.35k | +$49.6M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $58.4M | $5.84k | +$46.1M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-193/deposit) | $22.2M | $2.22k | \-$12.9M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $7.38M | $1.48k | \-$15.5M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $48.5M | $7.27k | \-$36.9M | ### TVL Winners & Losers After last week's decline, the TVL of the [USDC/crvUSD pool](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) has once again increased. Meanwhile, some DOLA pools were among the week's underperformers. | 📍 | Chain | Pool | TVL | Change | | --- | ------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $32M | +$6.32M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | $15.2M | +$5.17M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/etherlink.png "Etherlink") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xecac9c5f704e954931349da37f60e39f515c11c1.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-etherlink/0xbfc94cd2b1e55999cfc7347a9313e88702b83d0f.png)WBTC](https://curve.finance/dex/etherlink/pools/factory-stable-ng-1/deposit) | $11.3M | +$3.82M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-298/deposit) | $42.7M | \-$7.34M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x294eecec65a0142e84aedfd8eb2fbea8c9a9fbad.png)tacETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-428/deposit) | $451k | \-$8.21M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x66a1e37c9b0eaddca17d3662d6c05f4decf3e110.png)USR](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-337/deposit) | $35M | \-$10.5M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers As crvUSD borrowing rates were high over the last few weeks, we've seen the system work as designed, resulting in net outflows. However, now that the Peg Stability Reserves are being deployed, rates are decreasing, so we expect borrowing to pick up again. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $23.4M | $9.98M | +$94.5k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $5.29M | $1.29M | +$30.1k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $3.41M | $1.84M | +$2.79k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $7.72M | $1.75M | \-$471k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $88.7M | $41M | \-$520k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $89.4M | $46.4M | \-$1.04M | ### Lend Markets - Borrowing Winners & Losers Users continue to rotate through stablecoin lending markets in search of the highest yields. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/ethereum/markets/one-way-market-30/vault/deposit) | $25.6M | $21.5M | +$3.08M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/ethereum/markets/one-way-market-39/vault/deposit) | $4.41M | $3.45M | +$2.29M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/ethereum/markets/one-way-market-12/vault/deposit) | $3.91M | $3M | +$129k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/ethereum/markets/one-way-market-17/vault/deposit) | $2.02M | $1.8M | \-$436k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/lend/ethereum/markets/one-way-market-32/vault/deposit) | $2.24M | $1.36M | \-$624k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/ethereum/markets/one-way-market-11/vault/deposit) | $26.7M | $21.2M | \-$1.73M | ### Lend Markets - Supplying Winners & Losers Once again, the winners and losers in supplying and borrowing for lending were almost exactly matched. This trend reflects users' ongoing rotation through stablecoin lending markets to find the best yields, with suppliers and borrowers alike moving to optimize their returns. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/ethereum/markets/one-way-market-30/vault/deposit) | $25.6M | $21.5M | +$3.29M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/ethereum/markets/one-way-market-39/vault/deposit) | $4.41M | $3.45M | +$2.83M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/ethereum/markets/one-way-market-12/vault/deposit) | $3.91M | $3M | +$213k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/lend/ethereum/markets/one-way-market-32/vault/deposit) | $2.24M | $1.36M | \-$501k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/ethereum/markets/one-way-market-28/vault/deposit) | $14.7M | $13.1M | \-$1.8M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/ethereum/markets/one-way-market-11/vault/deposit) | $26.7M | $21.2M | \-$2.07M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Liquid Lockers and Community Boosts URL: https://news.curve.finance/liquid-lockers-and-community-boosts/ Last updated: 2025-09-10T20:10:26.000Z ## From veCRV to Liquid Lockers Locking CRV directly into veCRV is the foundation of Curve governance, but in practice very few users do it themselves. Locking requires a commitment of up to four years, veCRV cannot be transferred or unlocked early, and the main benefit — boosting CRV rewards — only makes sense if a very large amount of veCRV is controlled. For most users, that is out of reach. To solve this, protocols like [Convex](https://www.convexfinance.com/), [Yearn](https://yearn.fi/), and [StakeDAO](https://www.stakedao.org/) pool CRV from their users and lock it as veCRV. Within each platform, this creates a large “communal” veCRV position. When users later deposit LP tokens into these platforms, they unlock boosts that would otherwise be unattainable and at a fraction of the costs. Effectively, the LP tokens get staked in Curve gauges under the pooled veCRV of the host protocol. This system of pooled veCRV is what makes community boosts possible and accessible to everyone — to understand why, it helps to first look at how boosting works. --- ## Community Boosts Explained The real draw of liquid lockers is that they turn boosting into a community benefit. Here’s how it works: - Normally, to earn boosted CRV rewards, users would need to lock a huge amount of veCRV relative to their LP position. See an example further below. - Each liquid locker pools veCRV from its own users and applies it as one giant boost. - When users deposit Curve LP tokens into these protocols, the tokens are staked into the Curve gauge **as one big position** under the platform’s veCRV boost. Redistributing the CRV rewards on a pro-rata basis. - This lets all depositors earn boosted CRV rewards, even if they hold no veCRV directly. In other words, liquid lockers make it possible for users of all sizes to benefit from the same rewards that would otherwise only be available to the very largest veCRV holders. The trade-off is that users give up direct control and these platforms take a small fee on the yield earned. Another trade-off is that liquid locker tokens like cvxCRV, yCRV, and sdCRV are **transferable and sellable, but not redeemable for the underlying CRV**. Once CRV is deposited into a locker, it is locked as veCRV permanently, effectively acting as a CRV supply sink. Exiting requires selling the derivative token on the market, which may trade at a discount or premium to CRV depending on supply and demand. To see how this plays out in practice, here’s a snapshot of CRV rewards for the [**scrvUSD/reUSD pool**](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-392/deposit) across Curve and its major liquid lockers (as of 10th September 2025): | Platforms | Boost | CRV Rewards (APR/APY) | TVL ($) | | --------------------- | ----- | --------------------- | ------- | | Unboosted CRV Rewards | \- | 6.93% APR | \- | | Convex | 2.12x | 15.98% APR | $32.1M | | StakeDAO | 2.50x | 16.59% APR | $11.12M | | Yearn | 2.21x | 14.93% APY | 7.22M | These figures change over time. Boost levels depend on how much veCRV each platform controls and how much TVL is deposited. The more liquidity that flows into a given platform, the harder it becomes to reach the maximum 2.5x boost. To put this into perspective, fully boosting a **$100,000 position** in the crvUSD/reUSD pool would require **1,550,505 veCRV**. That equals locking **1,550,505 CRV for four years** or **6,202,020 CRV for one year**. At the time of writing, with CRV trading around **$0.7955**, this is clearly out of reach for most individual users. This is why pooled community boosts through liquid lockers have become the norm. Try out the calculator [here](https://dao-old.curve.finance/minter/calc)! ## The Curve Wars Liquid lockers became especially important during the so-called **Curve Wars**. Yearn was the first to build a liquid locker for CRV, followed by StakeDAO, and shortly after Convex. When Convex entered in 2021, it began accumulating CRV at scale and quickly became the dominant player. Protocols competing for Curve gauge votes realized that large veCRV positions held the keys to liquidity. Incentives and bribes poured in to sway voting power, creating a new meta-game around Curve governance. Today, Yearn, StakeDAO, and Convex each run their own lockers and compete to attract CRV deposits. A bigger veCRV base means stronger boosts and more influence, and together these three DAOs hold the overwhelming majority of veCRV, shaping how Curve incentives are distributed. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/09/vecrv_share.png) veCRV market share of Convex, StakeDAO, and Yearn over time (as of 10 September 2025) ## The Big Three The three largest liquid lockers — [Convex](https://www.convexfinance.com/), [Yearn](https://yearn.fi/), and [StakeDAO](stakedao.org) — each control their own massive veCRV holdings. Together, they dominate Curve governance, with each platform competing in its own way to attract users, CRV locks and TVL. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/09/photo_2025-09-10-17.35.04.jpeg) TVL distribution across Convex, Yearn, and StakeDAO, counting only pools with gauges (as of 10 September 2025) ### Convex (cvxCRV) Convex is the largest liquid locker with around 53% of all veCRV. Users deposit CRV and receive cvxCRV, while the CRV is locked as veCRV. cvxCRV is transferable and can be staked on Convex to earn Curve admin fees plus platform incentives. Convex charges a **17% performance fee on CRV revenue**. The distribution is **10% to cvxCRV stakers**, **4.5% to CVX stakers**, **2% to the treasury**, and **0.5% to harvest callers**. Users give up direct CRV voting rights, which are exercised via vlCVX, but Convex’s large veCRV base delivers strong communal boosts and competitive yields. ### StakeDAO (sdCRV) StakeDAO issues **sdCRV** when users deposit CRV, which is locked as veCRV. sdCRV is transferable and can be staked for rewards from Curve fees, CRV emissions, SDT incentives, and vote incentives, or paired in sdCRV/CRV liquidity. sdCRV holders can **replicate Curve governance votes** through StakeDAO, earning vote incentives and indirect governance influence. StakeDAO charges a **17% performance fee on rewards** of which **6% go to veSDT, 5.5% to the treasury, 5% to sdCRV, and 0.5% as caller incentives**. Interestingly, they control around 14% of veCRV, plus an additional 41M veCRV delegated from the founder of Curve, which they can use for boosting as per [SDGP-57](https://gov.stakedao.org/t/sdgp-57-authorization-of-a-second-vecrv-boost-delegation-agreement/1093). ### Yearn (yCRV) Yearn’s locker issues **yCRV** when users lock CRV through Yearn. yCRV is transferable and can be deposited into Yearn vaults that **auto-compound** rewards. At the time of writing, they hold 10.5% of voting power. Their **yCRV has a 10% performance fee**. Yearn manages voting, so users do not retain direct Curve voting rights, but it provides a simple, automated path to boosted rewards through its pooled veCRV base. ## Liquid Lockers vs. Locking CRV Directly Locking CRV directly into veCRV gives users the full range of benefits: **voting power, boosts, and a share of Curve’s revenue**, without paying fees to a third party. For large holders and protocols, direct veCRV positions are powerful because they provide both influence in governance and the ability to maximize rewards. For most individual users, however, the trade-offs are heavy. veCRV is non-transferable, the lock cannot be undone before its expiry, and reaching meaningful boost levels requires a very large amount of CRV. Direct veCRV is also only redeemable at the end of the lock, whereas liquid locker tokens can be sold on the market at any time (though often at a discount to the actual value of CRV). Liquid lockers were created to make these benefits more accessible. By pooling CRV together, they make communal boosts available to everyone, provide a liquid token that can be traded at any time, and often deliver higher yields. ## Conclusion Liquid lockers solved the impracticality of locking CRV individually for smaller users. In doing so, they not only created community boosts but also reshaped governance in Curve and gave rise to new markets around incentives and voting power. For users, the main takeaway is simple: adding liquidity on Curve earns CRV rewards, and liquid lockers offer an easy path to boosted yields without committing to a four-year lock. Direct veCRV remains valuable for those who want to retain their maximum governance power and long-term influence, but for most, liquid lockers are the practical gateway into Curve’s reward system. ### Curve Best Yields & Key Metrics | Week 36, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-36-2025/ Last updated: 2025-09-04T15:10:48.000Z ## Market Overview Crypto vibes have been a bit low this past week, and unfortunately, [Curve](https://www.curve.finance) is not immune. However, there have been some great developments within Curve and its ecosystem - Total **TVL is $2.67B**, down 2.1% from last week. - The first [FXSwap pool is live on BSC](https://www.curve.finance/dex/bsc/pools/factory-twocrypto-75/deposit), with [BBRL](https://www.brazabank.com.br/braza-holdings/) (Brazilian Real) and USDC. It is open to all, and deposits are expected to increase over time - [StakeDAO launched their markets V2](https://x.com/StakeDAOHQ/status/1962916048702738466) - [Resupply launched sreUSD](https://x.com/ResupplyFi/status/1963395713917690000) Check out all the weekly metrics and highlighted top yields below. ## Top Yields ### USD Stablecoins | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x41a5477364bf60d8936b90310fecfda79593304e.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x9fb76f7ce5fceaa2c42887ff441d46095e494206.png)wstkscUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-115/deposit) | Pool | 20.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x53a6abb52b2f968fa80df6a894e4f1b1020da975.png)dUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-102/deposit) | Pool | 20.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/ethereum/markets/one-way-market-39/vault/deposit) | Llamalend | 17.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x58acc2600835211dcb5847c5fa422791fd492409.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-67/deposit) | Pool | 17.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x6e58089d8e8f664823d26454f49a5a0f2ff697fe.png)SQUID](https://curve.finance/lend/fraxtal/markets/one-way-market-4/vault/deposit) | Llamalend | 15.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x000000096cb3d4007fc2b79b935c4540c5c2d745.png)jUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-447/deposit) | Pool | 15.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1ec28d129707052df4df418d58a2d46d5f51.png)sUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-371/deposit) | Pool | 14.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x788d96f655735f52c676a133f4dfc53cec614d4a.png)dUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-48/deposit) | Pool | 14.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x788d96f655735f52c676a133f4dfc53cec614d4a.png)dUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-45/deposit) | Pool | 14.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/lend/ethereum/markets/one-way-market-2/vault/deposit) | Llamalend | 13.8% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | ETH | 7.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 6.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 6.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 3.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 3.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | 2.6% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV 2](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-106/deposit) | CRV | 19.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x331b9182088e2a7d6d3fe4742aba1fb231aecc56.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-twocrypto-45/deposit) | CRV | 13.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 11.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 8.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 3.2% | ## Weekly Metrics ### crvUSD & scrvUSD Last week, crvUSD borrowing rates increased after peg stability reserves were emptied, which led to some users closing their loans. However, the high rates didn't last long, and peg stability reserves have been redeployed, making it an attractive time to borrow. The [scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD) yield also remains one of the top available in DeFi. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $111M | \-3.9% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $11.2M | +$11.2M | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 9.4% | +1.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 50.7% | +3.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $0.9999 | \-$0.0001 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 7.5% | \-4.8% | ### Llamalend While a full red week is never nice, it's a good reminder that markets can't be up forever. TVL and loans both decreased, largely due to increased minting rates from crvUSD's peg mechanics, which have now once again decreased. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $359M | \-4.8% | | 🦙 Supplied | $99.7M | \-4.2% | | 🦙 Borrowed | $189M | \-4.9% | | 🦙 Collateral | $337M | \-5.4% | | 🦙 Loans | 1567 | \-11 | ### DEX After a strong week last week, we've seen lower volumes and fees across the board. While the number of swaps stayed high, the average swap size decreased substantially. TVL, however, remained sticky, which is a good sign of continued user trust and engagement. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.43B | \-1.4% | | 🔄 Volume | $1.28B | \-40.8% | | 🔄 Swaps | 413k | \-13.2% | | 🔄 Total Fees | $265k | \-40.6% | ### DAO The DAO saw no substantial changes this week. VeCRV distribution decreased, primarily because of a reduction in swap fees. Additionally, the lower crvUSD borrowing rate also contributed to a decrease in overall revenue. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.4B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 868M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 791M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $200k | \-33.9% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $1.71M (2.22M CRV) | \-9.6% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 5.025% | \-0.005% | ## DEX Winners & Losers *All metrics are compared to their previous week's value.* ### Fees Winners & Losers Only a few pools saw higher fees this week compared to last week, so it's great to see some new names on the leaderboard. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa1f82e14bc09a1b42710df1a8a999b62f294e592.png)eCFX![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH](https://curve.finance/dex/#/ethereum/pools/factory-crypto-235/deposit) | $872k | $3.05k | +$1.5k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $22.9M | $4.57k | +$1.2k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $12.3M | $1.23k | +$1.14k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | $27.2M | $14.6k | \-$13.6k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $15.1M | $26.2k | \-$17.3k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $85.4M | $12.8k | \-$24.5k | ### Volume Winners & Losers Because overall volumes were depressed this week, the assets that saw positive change were primarily newcomers, with the [USDai](https://usd.ai/) pools leading the way. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0a1a1a107e45b7ced86833863f482bc5f4ed82ef.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $12.3M | $1.23k | +$11.4M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x0b2b2b2076d95dda7817e785989fe353fe955ef9.png)sUSDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-178/deposit) | $11.5M | $1.15k | +$6.09M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $22.9M | $4.57k | +$6M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $85.2M | $852 | \-$104M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $356M | $3.56k | \-$111M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $85.4M | $12.8k | \-$163M | ### TVL Winners & Losers There are also a few new pools within this category, with a new frxUSD pool at the top of the list. It's great to see Curve's [TAC](https://tac.build/) deployment getting significant TVL in some of its pools as well. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-539/deposit) | $11.6M | +$11.6M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/tac.png "Tac") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0xf9775085d726e782e83585033b58606f7731ab18.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0x7048c9e4abd0cf0219e95a17a8c6908dfc4f0ee4.png)cbBTC](https://curve.finance/dex/tac/pools/factory-stable-ng-8/deposit) | $11.1M | +$9.63M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $25.7M | +$8.51M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $54M | \-$7.52M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $206M | \-$7.58M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x657d9aba1dbb59e53f9f3ecaa878447dcfc96dcb.png)ynETHx![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-303/deposit) | $6.24M | \-$7.85M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers Unfortunately, most [crvUSD minting markets](https://www.curve.finance/llamalend/ethereum/markets) were not winners this week. However, it's great to see that the weETH market remains quite positive, even with the high rates we've seen over the past week. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $5.2M | $1.26M | +$26.3k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $694k | $148k | +$251 | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $7.62M | $2.22M | \-$3.08k | | ... | ... | ... | ... | ... | ... | | 7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $88.9M | $47.5M | \-$865k | | 8 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $3.37M | $1.86M | \-$1.26M | | 9 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $89M | $41.5M | \-$1.34M | ### Lend Markets - Borrowing Winners & Losers Lending markets are seeing more usage, especially now that the [Llamalend](https://www.curve.finance/llamalend/ethereum/markets/) displays when you can positively loop your stablecoins for added yield. Negative borrowing rates anyone? | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $22.4M | $18.4M | +$645k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $1.47M | $1.17M | +$393k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $3.72M | $2.87M | +$200k | | ... | ... | ... | ... | ... | ... | | 76 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-17/vault/deposit) | $2.52M | $2.23M | \-$700k | | 77 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $28.2M | $22.9M | \-$1.56M | | 78 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $16.5M | $13.1M | \-$2.09M | ### Lend Markets - Supplying Winners & Losers Interestingly, the top two markets and bottom three markets on this list are identical to those in the borrowing section. This suggests that borrowers and suppliers are actively moving in sync with one another. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $22.4M | $18.4M | +$876k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $1.47M | $1.17M | +$425k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $6.19M | $5.14M | +$286k | | ... | ... | ... | ... | ... | ... | | 76 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-17/vault/deposit) | $2.52M | $2.23M | \-$983k | | 77 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $28.2M | $22.9M | \-$1.49M | | 78 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $16.5M | $13.1M | \-$1.64M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Monthly Recap August, 2025 URL: https://news.curve.finance/curve-monthly-recap-august-2025/ Last updated: 2025-09-02T14:48:23.000Z **Key Highlights of August:** - Llamalend frontend updates alongside with major performance boost - FXSwap launched after record DAO vote - YieldBasis credit line proposal sparked active governance debate - frxUSD PSR onboarded with 3M crvUSD ceiling - Curve-Core on TAC grew TVL from $5.6M to $30M+ - SwissStake quarterly progress report ## Llamalend Frontend Improvements This August, the frontend team rolled out a big round of updates to the Curve UI, with Llamalend receiving most of the attention. The headline change was a **major performance boost**. By removing Next.js from the stack and streamlining the frontend, the **app now loads significantly faster**. Pages render almost instantly, making the overall user experience much smoother. [Try it out!](https://www.curve.finance/llamalend/ethereum/markets) The Llamalend markets page keeps on being improved and received its share of updates. It now includes **expanded filtering options** that allow users to toggle between views of liquidity, utilization, total debt, collateral, TVL, borrow rates, supply yields, and short-term rate charts. This makes it far easier for users to compare markets and identify opportunities, whether borrowing or lending. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/09/Screenshot-2025-09-01-at-11.42.44.png) Another quality-of-life improvement is the **new positions table at the top of the page**. This provides a clean overview of all active loans, showing position health, borrow amounts, and rates at a glance. Tracking multiple positions has become far more convenient for users. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/09/Screenshot-2025-09-01-at-11.36.15.png) **Individual position cards** were also redesigned. They now display **more detailed borrower and market information**, giving users a clearer picture of both their own positions and overall market conditions without extra navigation. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/09/Screenshot-2025-09-01-at-11.37.05.png) Alongside these headline changes, numerous smaller fixes and refinements were introduced, like tooltips and yield breakdown wherever possible, smoothing out rough edges and making Llamalend more intuitive to use. --- ## FXSwap (Refuel Implementation) Curve also introduced FXSwap, a new design that expands Curve into new market opportunities such as supporting future onchain FX markets for non-USD denominated assets. Despite the name, FXSwap is not limited to forex pairs and can also be applied to other volatile and low-volatility assets such as non-USD stablecoins or gold. The new algorithm **makes volatile-asset pools more efficient and sustainable**. This improved take on Cryptoswap (the former algorithm for volatile-asset pools such as EUR<>USDC) lets pools add a **refuel budget** so they can track market price and rebalance liquidity more smoothly. For LPs, refuels offset part of the impermanent loss, making liquidity provision more attractive, profitable, and sustainable. Traders benefit from tighter spreads and smoother execution thanks to highly concentrated liquidity. In short, LPs keep more of what they earn, and traders get better rates. *A win-win for everyone in the market.* Here’s the idea: concentrated liquidity gives great prices, but when the market moves the pool has to shift its liquidity, which can hurt LPs. With FXSwap, anyone (projects, treasuries, power users) can add **refuels** to the pool. This refuel is a drip-released buffer the AMM can tap when it needs to move the liquidity concentration. The result is **tighter spreads for traders** and **less wear and tear on LPs** when prices drift. Learn more about the technicalities [here](https://docs.curve.finance/cryptoswap-exchange/twocrypto-ng/implementations/refuel/). **BUT:** Refuel is not simply a token handout. Think of it like topping up the engine oil so the machine runs cleanly. Teams can use real revenue to keep their markets sharp instead of leaning on short-term emissions. 🗳️ FXSwap shipped after the DAO approved [****Proposal #1178**](https://www.curve.finance/dao/ethereum/proposals/1178-ownership), which was executed on ****Aug 22, 2025 at around 19:00 UTC**. It was the ****highest-participation** vote across all DAO votes, with ****90% of all veCRV** taking part and casting their voting power. In short: FXSwap enables Curve to support FX markets onchain by keeping concentrated liquidity aligned with the market, powered by a simple refuel buffer. Traders enjoy tighter execution while LPs hold onto more of their yield without the need to manage rebalancing. *It is still early days for FXSwap, and pools will be tuned one by one (fees, parameters, assets).* --- ## YieldBasis: Discussions Ahead of the Launch [YieldBasis](https://x.com/yieldbasis) is a protocol built on top of Curve that aims to eliminate IL by keeping a **constant 2× compounding leverage**. Users can **single-side deposit BTC**, which is then paired with an equal dollar value of crvUSD sourced from a dedicated crvUSD CDP credit line. To enable this, YieldBasis kicked off a discussion in Curve Governance for a **60M crvUSD credit line** (a pre-mint borrowing cap similar to PegKeepers), targeting three BTC pools (WBTC, cbBTC, tBTC) with **$10M deposit caps each -** i.e., **$30M of BTC deposits live**, with the **other $30M** kept as buffer so the AMM can maintain **2× leverage** if BTC price goes up (it would need to borrow more crvUSD as price rises). [Create a crvUSD credit line to Yield BasisSummary Yield Basis removes impermanent loss in Curve cryptopools by automatically keeping constant leverage via a special-purpose AMM. For operation, Yield Basis needs a credit line (implemented as a pre-mint allocation) of crvUSD, similarly to how crvUSD mint markets and PegKeepers operate. I propose to start from 60M crvUSD credit limit which will be enough to safely create 3 pools - for WBTC, cbBTC and tBTC capped for deposits up to $10M worth of BTC each. This is a comfortable minimum to…![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/8b124f7d448c2829ce00fa7212028ee695140a1e_2_32x32-1.svg)Curve.finance Governancemichwill![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/a4a3b833715b2fcc8187a43c2c20f5cc28fcc0bc_2_1024x733-1.png)](https://gov.curve.finance/t/create-a-crvusd-credit-line-to-yield-basis/10774) ### What’s in it for Curve? In exchange for the crvUSD facility, YB proposes directing **\~20% of total YB token inflation to Curve**, which can be used to incentivise crvUSD pools. Additional value is expected from **stableswap routing** (e.g., BTC<>crvUSD trades often pair with a crvUSD<>USDC/USDT hop on Curve, generating fees shared with veCRV and LPs). Modeling in the post estimates **Curve’s total take at \~35–65%** of what veYB earns, depending on parameters and competitive routing in practice. ### Risks and Proposed Safeguards A **60M crvUSD credit line** introduces tail risks. If YieldBasis were exploited, Curve could face **bad debt** and peg pressure, though audits and a bug bounty help reduce this. There is also **economic-model risk** if live markets diverge from backtests, which could lead to underperformance. In that case, Curve could simply scale down the allocation without bad debt. Finally, **competitive routing risk** exists if other venues launch highly concentrated, low-fee crvUSD<>USDC/USDT pools, which could siphon volume from Curve. To address these issues, community members have suggested a cautious rollout. [**Wavey**](https://x.com/wavey0x?utm%5Fsource=chatgpt.com) proposes a **phased credit line** of $10M → $20M → $60M, with each step requiring DAO approval and KPI checks such as peg stability and routing share. He also recommends raising Curve’s share of YB emissions from \~20% to \~35% to better align incentives. [**LlamaRisk**](https://x.com/LlamaRisk?utm%5Fsource=chatgpt.com) outlines a similar framework with a **guardian multisig**, bug bounty, and transparency dashboards as pre-launch safeguards, followed by a stepwise rollout (**20M → 40M → 60M**) over 4–8 weeks, gated by KPIs like rebalancing solvency, ≥50% BTC–stable routing through Curve, no peg or security issues, and Curve earning at least 35% of veYB fees. *The discussions have been extensive, and the community will see the final shape of YieldBasis’ proposal once it moves to an on-chain vote.* --- ## frxUSD PSR Onboarded Curve governance moved to onboard a **Peg Stabilization Reserve (PSR)** for the [frxUSD<>crvUSD](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-510/deposit) pool with a 3M crvUSD ceiling. The PSR is the mechanism that helps keep crvUSD stable by minting or withdrawing crvUSD when the pool drifts off peg. For frxUSD, the proposal also raised the caller reward share to 50% to better cover gas and encourage timely upkeep. As part of the onboarding, the pair was added to the PSR Regulator and to crvUSD monetary policies, and its oracle was included in the aggregated crvUSD price basket. For context, existing PSR assets include USDC, USDT, and PYUSD with current ceilings of 45M, 15M, and 15M crvUSD. LlamaRisk also shared due diligence in the governance thread, covering peg mechanics, oracle setup, and operational considerations. [Add frxUSD/crvUSD to Pegkeepers with 3m Debt CeilingSummary Add frxUSD as a crvUSD PegKeeper utilizing the frxUSD/crvUSD pool. Set the initial debt ceiling for the PegKeeper at 3m frxUSD. Abstract Vote actions as part of this proposal include: Increase frxUSD PK caller\_share from 20% to 50% Set frxUSD PK debt ceiling to 3m in the Controller Factory Add frxUSD PK to the Pegkeeper Regulator Add frxUSD PK to Pegkeepers in active crvUSD Monetary Policies: non-yielding, yielding, sfrxETH Add the frxUSD/crvUSD oracle proxy to the aggregated price of…![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/8b124f7d448c2829ce00fa7212028ee695140a1e_2_32x32-2.svg)Curve.finance GovernanceLlamaRisk![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/b6720693e8acfc0deac0508ecf11a0cc229d3200.jpeg)](https://gov.curve.finance/t/add-frxusd-crvusd-to-pegkeepers-with-3m-debt-ceiling/10738) --- ## Curve on TAC The [**Curve-Lite**](https://news.curve.finance/curve-lite-launch/) **deployment on TAC** saw strong momentum in August. Curve-Core is a lightweight, fast-to-deploy instance of the Curve DEX, and its launch on TAC quickly attracted users and capital. Total value locked jumped by more than 500% during the month, climbing from $5.6M to over $30M. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/09/Screenshot-2025-09-02-at-11.33.51.png) --- ## SwissStake Quarterly Progress Report SwissStake, a key driver of Curve’s ecosystem, published its March to May 2025 progress report. The update builds on their 2024 Curve DAO grant and showcases steady advances across cross-chain infrastructure, Llamalend, and cryptoswap. A major milestone this quarter was the rollout of the **Curve Block Oracle**, built to support secure and DAO-controlled cross-chain deployments. SwissStake also added oracle propagation using storage proofs, including support for the **scrvUSD price oracle**. [Curve Block OracleCurve’s Roman Agureev presents a modular, open-source framework for secure multichain messaging—built with storage proofs, bridge-agnostic transport, and already live across 20+ networks. It’s now available to any team building cross-chain infrastructure.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-26.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/New-Basepool--3--1.png)](https://news.curve.finance/curve-block-oracle/) On the Llamalend side, the team laid the foundation for **LP token collateral**. While this has not been rolled out yet, the system is already technically capable of supporting it. The focus has now shifted to **Llamalend v2**, which is set to bring a wide range of upgrades. At present, Llamalend only supports markets where **crvUSD is either the collateral or the borrowable asset**. With v2, that restriction will be lifted. The new version will feature **out-of-the-box support for LP tokens, PT tokens, and other interesting assets**, greatly expanding the types of markets that can be created. In addition, the team has already implemented **fee routing to the DAO**, ensuring that lending activity feeds more directly into Curve governance. For Cryptoswap, SwissStake focused on upgrades that allow **external refuels to influence liquidity distribution**. This is especially relevant for FX and low-volatility markets where efficient liquidity allocation is key. Beyond protocol development, the team also pushed forward on internal tooling and frontend improvements, expanded their analytics stack, and launched **Cyfrin Updraft**, a developer certification program. [Quarterly Progress Report: March 2025 - May 2025Grant Period: March 2025 to May 2025 1\. Executive Summary This report covers the third quarter of the Curve Ecosystem Grant, spanning March to May 2025\. During this period, we at Swiss Stake AG focused on finalizing key cross-chain infrastructure related software, advancing new features for Llamalend, and improving cryptoswap efficiency for FX and low-volatility markets. We completed key deliverables this quarter including the Curve Block Oracle software, which now enables secure cross-chain g…![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/8b124f7d448c2829ce00fa7212028ee695140a1e_2_32x32-3.svg)Curve.finance Governancemichwill![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/236e8d42f0282109552eb0849f8987a75ca5b51b.png)](https://gov.curve.finance/t/quarterly-progress-report-march-2025-may-2025/10767) --- ### Curve Best Yields & Key Metrics | Week 35, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-35-2025/ Last updated: 2025-08-28T15:24:50.000Z ## Market Overview Curve has had a relatively quiet but good week: - TVL has increased to $2.732B, up a modest 0.5% - veCRV holders saw a 25% increase in their distribution this week - wrapped-Sonic rewards are live for the [crvUSD/USDC pool](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-7/deposit) on Sonic, offering huge yields to increase crvUSD liquidity. - [dTrinity](http://dtrinity.org)'s new staked-dUSD pools are offering more than 30% yields See all the highlighted yield opportunities and metrics below. ## Top Yields ### USD Stablecoins | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x7fff4c4a827c84e32c5e175052834111b2ccd270.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x29219dd400f2bf60e5a23d13be72b486d4038894.png)USDC](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-7/deposit) | Pool | \>100% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x41a5477364bf60d8936b90310fecfda79593304e.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x9fb76f7ce5fceaa2c42887ff441d46095e494206.png)wstkscUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-115/deposit) | Pool | 32.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x58acc2600835211dcb5847c5fa422791fd492409.png)sdUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-67/deposit) | Pool | 28.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x53a6abb52b2f968fa80df6a894e4f1b1020da975.png)dUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-102/deposit) | Pool | 27.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x000000096cb3d4007fc2b79b935c4540c5c2d745.png)jUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-447/deposit) | Pool | 26.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x788d96f655735f52c676a133f4dfc53cec614d4a.png)dUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-45/deposit) | Pool | 18.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x3b5f2810fb2168ffa9c73160f97bf9f2461ffa5c.png)litUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-529/deposit) | Pool | 18.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x6e58089d8e8f664823d26454f49a5a0f2ff697fe.png)SQUID](https://curve.finance/lend/#/fraxtal/markets/one-way-market-4/vault/deposit) | Llamalend | 17.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/lend/#/fraxtal/markets/one-way-market-1/vault/deposit) | Llamalend | 17.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 14.2% | ### Top BTC & ETH Yields Yields for BTC and ETH pools are compressing. However, over 5% is still very high for both of these assets. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | 6.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfae103dc9cf190ed75350761e95403b7b8afa6c0.png)rswETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-80/deposit) | ETH | 5.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000006.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-6/deposit) | ETH | 5.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 2.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-69/deposit) | BTC | 2.0% | ### Other Top Yields Once again, [CrossCurve](https://crosscurve.fi/) pools have the best CRV yield on offer, and Curve still offers higher Euro rates than government bonds. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV 2](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-106/deposit) | CRV | 24.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x331b9182088e2a7d6d3fe4742aba1fb231aecc56.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-twocrypto-45/deposit) | CRV | 15.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 11.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 8.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 4.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 3.3% | ## Weekly Metrics ### crvUSD & scrvUSD The borrow rate has skyrocketed to its highest point in months. This is slowly increasing the yield available within scrvUSD, and it should soon exceed 10%, making it one of the highest and safest among DeFi stablecoins. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $116M | \-1.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $22.2k | \-$11M | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 8.2% | +0.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 47.6% | +1.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $0.9999 | +$0.0003 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 12.3% | +4.8% | ### Llamalend Apart from a few suppliers leaving [Llamalend](https://www.curve.finance/llamalend/ethereum/markets) this week, there were no significant changes. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $378M | \-0.4% | | 🦙 Supplied | $104M | \-4.3% | | 🦙 Borrowed | $199M | \-0.8% | | 🦙 Collateral | $357M | +0.8% | | 🦙 Loans | 1579 | \-15 | ### DEX Swaps were down this week, but TVL, volumes, and fee generation were all higher. It was a strong week for pools and the DEX. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.47B | +0.5% | | 🔄 Volume | $2.16B | +12.2% | | 🔄 Swaps | 475k | \-3.5% | | 🔄 Total Fees | $446k | +9.8% | ### DAO veCRV holders are rejoicing with a 25% increase in payouts this week, from strong volumes in pools, and higher than usual crvUSD minting rates. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.39B | +0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 868M | \-0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 793M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $302k | +24.9% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $1.89M (2.22M CRV) | \-3.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 5.030% | \-0.005% | ## DEX Winners & Losers ### Fees Winners & Losers The [DAI/USDC/USDT pool](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) took the top spot in fee generation this week, with all fees going to the DAO and contributing to the significant weekly veCRV distribution. Volatility in the GEAR token also helped it climb into the top 3, with the [Tricrypto pool](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) securing the second spot. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $249M | $37.3k | +$16.4k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $19.8M | $43.6k | +$11.9k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xba3335588d9403515223f109edc4eb7269a9ab5d.png)GEAR![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH](https://curve.finance/dex/#/ethereum/pools/factory-crypto-192/deposit) | $3.21M | $12.7k | +$10.1k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $178M | $17.8k | \-$4.71k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8207c1ffc5b6804f6024322ccf34f29c3541ae26.png)OGN![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-52/deposit) | $1.2M | $1.76k | \-$4.88k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $32.7M | $3.27k | \-$9.86k | ### Volume Winners & Losers The [Spark.fi USDT Reserve](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-411/deposit) won the volume race this week; however, volume isn't everything. The [DAI/USDC/USDT pool](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) actually generated nearly 10 times the fees on about half the volume. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $467M | $4.67k | +$270M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $249M | $37.3k | +$110M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $189M | $1.89k | +$53.7M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-365/deposit) | $334k | $10 | \-$36.9M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $178M | $17.8k | \-$47.1M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $32.7M | $3.27k | \-$98.6M | ### TVL Winners & Losers ETH's appreciation helped TVL within ETH pools rise, but there were also net inflows. Some stablecoin pools saw rotations; however, on a net basis, TVL for pools slightly increased. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $215M | +$14.3M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xdbfefd2e8460a6ee4955a68582f85708baea60a3.png)superOETHb](https://curve.finance/dex/#/base/pools/factory-stable-ng-143/deposit) | $111M | +$10.5M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x15700b564ca08d9439c58ca5053166e8317aa138.png)deUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-207/deposit) | $16.7M | +$8.61M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x73a15fed60bf67631dc6cd7bc5b6e8da8190acf5.png)USD0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x35d8949372d46b7a3d5a56006ae77b215fc69bc0.png)USD0++](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-189/deposit) | $41.6M | \-$5.43M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $61.5M | \-$6.92M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-crvusd-0/deposit) | $17.2M | \-$14.7M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers Users like ETH. Even with the increase in interest rates, three were still over $2M more borrows for the [ETH crvUSD minting market](https://www.curve.finance/crvusd/ethereum/markets/ETH/create). Meanwhile, users seem to be closing BTC loans. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.png)ETH](https://www.curve.finance/crvusd/ethereum/markets/ETH/create) | $93.4M | $42.8M | +$2.43M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $23.6M | $10.2M | +$129k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xac3e018457b222d93114458476f3e3416abbe38f.png)sfrxETH](https://www.curve.finance/crvusd/ethereum/markets/sfrxeth/create/) | $725k | $148k | +$258 | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $18.4M | $6.88M | \-$118k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $5.22M | $3.12M | \-$826k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $92.2M | $48.4M | \-$2.83M | ### Lend Markets - Borrowing Winners & Losers Users largely rotated between different staked stablecoin markets this week. In some of these markets, borrower collateral is appreciating faster than crvUSD debt can accrue. sDOLA and fxSAVE are both examples of these markets. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $21.5M | $17.8M | +$1.31M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $1.05M | $782k | +$273k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.8M | $3.69M | +$210k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-9/vault/deposit) | $1.31M | $665k | \-$112k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-17/vault/deposit) | $3.5M | $2.93M | \-$127k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $29.7M | $24.4M | \-$1.43M | ### Lend Markets - Supplying Winners & Losers Suppliers entered the same markets where borrowers' demand for loans began to rise. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $21.5M | $17.8M | +$967k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $1.05M | $782k | +$381k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x11cdb42b0eb46d95f990bedd4695a6e3fa034978.png)CRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-4/vault/deposit) | $90.4k | $44k | +$15.5k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $5.9M | $5.24M | \-$407k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $18.1M | $15.2M | \-$566k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $29.7M | $24.4M | \-$3.44M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Resupply: A Curve Ecosystem Success Story URL: https://news.curve.finance/resupply-success-story/ Last updated: 2025-08-27T14:00:30.000Z What if you could earn yield while borrowing assets? Resupply makes this possible. Built directly on Curve’s Llamalend lending markets, it lets users supply crvUSD, take the resulting yield-bearing vault token, and use it as collateral to mint a new stablecoin: `reUSD`. The result is higher capital efficiency for users, deeper Llamalend liquidity, and more demand for `crvUSD`, all built on top of Curve’s rails. --- ## How Resupply Works: A Practical Example Let’s walk through how a typical user can earn yield while borrowing: 1. **Supply to Llamalend:**The user supplies `crvUSD` (or other supported assets) to Curve’s **Llamalend**. This deposit earns lending yield, and even CRV incentives that can be boosted via Convex on supported markets. 2. **Use the vault token as collateral to mint `reUSD`**The user takes the vault token to Resupply to use as collateral to borrow `reUSD`. This results in the user still earning yield on their vault token, while having access to newly borrowed funds. 3. **(Optional) Loop to increase exposure**The user can swap `reUSD` → `crvUSD`, deposit it again into Llamalend, and repeat the process. This boosts yield and capital efficiency, but also increases liquidation risk, so managing the LTV ratio is critical. **Why the Yield is Higher Than the Borrowing Costs** Resupply is designed so that the interest paid on borrowed `reUSD` is typically lower than the yield earned on the vault token used as collateral. This is what enables users to earn more than they pay — a positive carry. The interest rate is calculated as the highest of: - **50% of the underlying Llamalend supply rate (what your collateral is earning)** - **50% of a benchmark “risk‑free” rate, like the sfrxUSD APY** - **A flat 2% minimum** This structure ensures that under normal conditions, most users earn more on their supplied collateral than they pay to borrow. **Supported markets**: Resupply supports a range of Curve’s Llamalend markets, including`sDOLA`, `sUSDe`, `sUSDS`, `sfrxUSD`, `WETH`, `wstETH`, `USDe`, `WBTC`, and selected Frax markets. ## Why This Matters for Curve & Why Builders Choose It Resupply strengthens Curve’s stablecoin ecosystem by amplifying usage, revenue, and composability: - **More crvUSD demand:** To borrow `reUSD`, users first supply `crvUSD` to Llamalend, increasing demand and growing `crvUSD` circulation - **Deeper Llamalend liquidity:** Additional deposits expand the lending side, enabling better rates and larger borrow capacity across supported markets, including ETH and BTC. - **Value to veCRV holders:** More borrowing activity increases protocol revenue, which flows to veCRV holders through fee sharing. - **Composability drives new use cases:** Builders can launch Curve pools and Llamalend markets around stable or yield-bearing assets, and tap into Curve’s liquidity engine to support new primitives. - **LLAMMA enables higher LTVs:** Resupply chose Curve because its unique liquidation engine (LLAMMA) allows for especially high loan-to-value ratios, while reducing liquidation risk through gradual conversions. In short, Resupply doesn't extract value from Curve, it compounds it. The system creates a feedback loop where user-level efficiency translates into protocol-level growth. ## Early Impact & Future Outlook Resupply had an immediate and measurable impact on Curve’s lending ecosystem: - **Llamalend TVL nearly tripled**, jumping from $37M to over $181M within four weeks of launch and is currently sitting at around $215M. - **`crvUSD` supply almost doubled**, rising from $61M to $121M over the same period This early traction reflects strong user demand for capital-efficient borrowing and how composable protocols like Resupply can rapidly amplify growth across Curve’s stablecoin stack. After the initial launch sprint, **growth** **settled into a steadier phase**. The early looping meta where you supply `crvUSD` → borrow `reUSD` → swap to `crvUSD` → resupply, amplified leverage but added persistent sell pressure on reUSD. This put downward pressure on the peg, which made looping (or simply swapping `reUSD` for other crypto assets) less attractive and slowed the rate of expansion. Resupply’s next deployment, **`savings-reUSD`** **(a yield-bearing version of reUSD)**, is designed to flip that dynamic. By streaming protocol revenue directly to holders, it creates organic demand for reUSD **without using $RSUP token incentives**. `sreUSD` earns from **two sources**: a **baseline 15%** of protocol revenue **plus** an additional **“off-peg”** stream that scales with how far `reUSD` trades below $1 and tapers as it returns to peg. More details are available on the [**Resupply Governance Forum**](https://gov.resupply.fi/t/savings-reusd-sreusd/68). This design create a feedback loop where `reUSD` demand → stronger peg stability → looping becomes attractive again → larger Llamalend deposits and healthier utilization → lower borrowing rates → more sustainable `crvUSD` issuance. In short, `sreUSD` aims to create a virtuous cycle that grows Curve’s Llamalend TVL and stabilizes Curve’s broader stablecoin stack. The on-chain [Proposal #17](https://resupply.fi/governance/proposals?id=17) to ship sreUSD is already live and currently being voted on. ## Building on the Biggest Stablecoin House Resupply is a clear example of how new stablecoin and lending primitives can be built directly on top of Curve’s infrastructure. It uses yield-bearing vault tokens from Llamalend as productive collateral, mints a capital-efficient stablecoin (`reUSD`), and feeds liquidity and revenue back into Curve. For builders, Curve offers more than just liquidity, as it provides: - **Permissionless markets** through Llamalend - **Deep liquidity** across stable and volatile assets - **Native Oracles** with predictable pricing behavior - **A liquidation engine (LLAMMA)** that enables high LTV ratios safely - **Direct alignment with veCRV incentives** If you're building a product that needs stablecoin liquidity, lending integration, or yield-aware borrowing, you’ll find that Curve’s infrastructure is ready. As Resupply shows, the composability is real, and the upside can be shared. --- ### Curve Best Yields & Key Metrics | Week 34, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-34-2025/ Last updated: 2025-08-21T14:20:15.000Z ## Market Overview Well, after a few weeks of up only, we had a down week. There was still a lot of positive news for Curve though, here's what you need to know: - After a record TVL for 2025 last week, TVL has moderated slightly, down 6.0% to $2.715B. - [Yield basis](https://yieldbasis.com/) is getting ready to launch, with thorough discussion happening around their current [Curve governance proposal](https://gov.curve.finance/t/pre-mint-crvusd-allocation-to-yield-basis/10774/8). - [Binance has integrated Curve directly into their wallet](https://x.com/BinanceWallet/status/1958491620606964118). - The new [smart contracts for Cryptoswap pools have been released](https://www.curve.finance/dao/ethereum/proposals/1178-ownership), this version will be called FxSwap, because it enables efficient use cases like forex pools, better BTC/USD swaps, and more. See all the weekly metrics and some of the best opportunities for yield available below. ## Top Yields ### USD Stablecoins | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x000000096cb3d4007fc2b79b935c4540c5c2d745.png)jUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-447/deposit) | Pool | 66.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-0/vault/deposit) | Llamalend | 49.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x3b5f2810fb2168ffa9c73160f97bf9f2461ffa5c.png)litUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-529/deposit) | Pool | 19.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x95f19b19aff698169a1a0bbc28a2e47b14cb9a86.png)ycvxCRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-35/vault/deposit) | Llamalend | 19.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | Llamalend | 18.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xde17a000ba631c5d7c2bd9fb692efea52d90dee2.png)USDN](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-354/deposit) | Pool | 15.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x53a6abb52b2f968fa80df6a894e4f1b1020da975.png)dUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-102/deposit) | Pool | 14.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x6e58089d8e8f664823d26454f49a5a0f2ff697fe.png)SQUID](https://curve.finance/lend/#/fraxtal/markets/one-way-market-4/vault/deposit) | Llamalend | 14.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 13.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xde17a000ba631c5d7c2bd9fb692efea52d90dee2.png)USDN](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-387/deposit) | Pool | 12.4% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | 7.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf1376bcef0f78459c0ed0ba5ddce976f1ddf51f4.png)uniETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-499/deposit) | ETH | 6.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x3bce5cb273f0f148010bbea2470e7b5df84c7812.png)scETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x43edd7f3831b08fe70b7555ddd373c8bf65a9050.png)frxETH](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-26/deposit) | ETH | 5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000006.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-6/deposit) | ETH | 5.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 3.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 1.2% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV 2](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-106/deposit) | CRV | 26.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-2/deposit) | CRV | 19.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 10.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 10.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 2.2% | ## Weekly Metrics ### crvUSD & scrvUSD Lately it's been a great time to be in the [scrvUSD vault](https://www.curve.finance/crvusd/ethereum/scrvUSD), with many weeks of high yield now. The peg remains strong, and the amount of minted crvUSD is not subsiding substantially even with this pullback in markets, a positive signal. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $117M | \-3.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $11M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 7.7% | +0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 46.3% | +4.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $0.9997 | \-$0.0005 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 7.5% | \-0.1% | ### Llamalend TVL is down, but this is mostly due to collateral values decreasing. Users are largely keeping their loans open, and with Curve's in liquidation protection, this makes sense. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $263M | \-9.4% | | 🦙 Supplied | $109M | \-1.8% | | 🦙 Borrowed | $200M | \-1.7% | | 🦙 Collateral | $354M | \-7.6% | | 🦙 Loans | 1593 | \-6 | ### DEX Number of swaps are up, however volumes and TVL has subsided. Yet total fees paid by swappers have not decreased as much as volume. So this must mean users this week are swapping in higher fee pools. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.46B | \-5.2% | | 🔄 Volume | $1.93B | \-23.5% | | 🔄 Swaps | 493k | +3.7% | | 🔄 Total Fees | $406k | \-12.2% | ### DAO Most metrics across the DAO stayed the same this week. However, the value of CRV emissions has reduced, because the CRV price has reduced. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | ------ | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.39B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 871M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 794M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $242k | \-1.8% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $1.96M (2.22M CRV) | \-8.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 5.0% | \-0.1% | ## DEX Winners & Losers ### Fees Winners & Losers Stableswap pools were the winners this week for fees, even in a time of volatility, with [Metronome](https://metronome.io/)'s msETH/WETH pool the biggest winner for the week. Also, because stETH volatility and has now decreased, their pools were the largest losers for the week. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $52.3M | $20.9k | +$10.4k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $131M | $13.1k | +$10k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-251/deposit) | $54.7M | $21.9k | +$9.65k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $77.4M | $6.2k | \-$7.96k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $4.25M | $15.6k | \-$9.47k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $225M | $22.5k | \-$27.2k | ### Volume Winners & Losers Some of the fee winners and losers can be seen within these volume numbers. However [PayPal](https://www.paypal.com/)'s PYUSD pool has topped the charts for the winners, with a huge extra $100M volume this week, nearly 4 times it's usual value. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6c3ea9036406852006290770bedfcaba0e23a0e8.png)PYUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-43/deposit) | $131M | $13.1k | +$100M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-365/deposit) | $37.2M | $1.12k | +$30.7M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | $52.3M | $20.9k | +$26M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $136M | $1.36k | \-$99M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $77.4M | $6.2k | \-$99.5M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $225M | $22.5k | \-$272M | ### TVL Winners & Losers BTC pools on [TAC](https://tac.build/) (Telegram's EVM network) were some of the biggest winners for the week for TVL. Also, USDL's TVL seems to have moderated after it's huge rise and fall in popularity over the last few weeks. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-35/deposit) | $75.2M | +$7.5M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/tac.png "Tac") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0xf9775085d726e782e83585033b58606f7731ab18.png)uniBTC![](https://curve.finance/images/default-crypto.png)satUniBTC](https://curve.finance/dex/tac/pools/factory-stable-ng-11/deposit) | $2.74M | +$2.71M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/tac.png "Tac") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0xf9775085d726e782e83585033b58606f7731ab18.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-tac/0xe82dbd543fd729418613d68cd1e8fc67b0f46e31.png)M-BTC](https://curve.finance/dex/tac/pools/factory-stable-ng-7/deposit) | $2.66M | +$2.62M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbdc7c08592ee4aa51d06c27ee23d5087d65adbcd.png)USDL![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-243/deposit) | $9.89M | \-$11M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x83f20f44975d03b1b09e64809b757c47f942beea.png)sDAI](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-32/deposit) | $204k | \-$11.4M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $201M | \-$17.7M | ## Llamalend Winners & Losers ### crvUSD Minting Markets - Borrowing Winners & Losers Small changes across the board for crvUSD markets, with only the LBTC market unfortunately seeing substantial changes as a large borrower closed their loan. | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://www.curve.finance/crvusd/ethereum/markets/weeth/create/) | $5.3M | $1.34M | +$352k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $18.2M | $6.99M | +$187k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $23.5M | $10.1M | +$2.97k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $6.31M | $3.95M | \-$1.29M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $86.6M | $40.3M | \-$1.4M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $857k | $496k | \-$1.45M | ### Lend Markets - Borrowing Winners & Losers The biggest borrowing winners and losers seemed to come out roughly even. With the WETH market being the biggest winner, and [f(x)](https://fx.aladdin.club/v2/trade/)'s fxSAVE rising quickly in popularity and demand, with borrows doubling during the week. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $3.58M | $2.65M | +$778k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | $557k | $509k | +$268k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $20.6M | $16.5M | +$252k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.9M | $3.48M | \-$197k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-17/vault/deposit) | $3.59M | $3.06M | \-$320k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $6.3M | $5.23M | \-$401k | ### Lend Markets - Supplying Winners & Losers People liked to lend to yield bearing stablecoin markets this week, while withdrawing supply to volatile assets. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $33.5M | $25.4M | +$786k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $18.7M | $15.3M | +$366k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $20.6M | $16.5M | +$306k | | ... | ... | ... | ... | ... | ... | | 76 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-17/vault/deposit) | $3.59M | $3.06M | \-$341k | | 77 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $3.58M | $2.65M | \-$529k | | 78 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $6.3M | $5.23M | \-$2.4M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Spectra Finance: A Curve Ecosystem Success Story URL: https://news.curve.finance/spectra-finance-a-curve-ecosystem-success-story/ Last updated: 2025-12-22T11:53:40.000Z What if you could access next year’s interest today? In traditional finance, that typically requires complex derivatives. In DeFi, it’s becoming a reality thanks to protocols like [Spectra Finance](https://www.spectra.finance/). Spectra allows users to separate interest-bearing assets from the future yield they generate. By tokenizing that yield, it enables fixed-rate returns, directional interest rate trades, and access to upfront capital, without selling the underlying asset. None of this would be possible without the liquidity and pricing reliability provided by [Curve](https://www.curve.finance/dex/ethereum/pools/)’s Stableswap pools, which serve as the liquidity foundation for Spectra’s yield markets. ## How Spectra Works: A Practical Example Let’s walk through a practical example to see how this works. > *This is a hypothetical scenario, there is currently no active Spectra market for a 1-year scrvUSD term.* ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/07/Frame-1171274403-1-.png) The user deposits $1000 in crvUSD to the scrvUSD Vault and then into the Spectra market. The deposited scrvUSD are then split into 1000 YT-scrvUSD and 1000 PT-scrvUSD. Imagine a user gets an unexpected expense and needs cash while holding crvUSD but doesn’t want to sell it. Instead of selling, he could do the following: 1. They deposit their crvUSD into Curve’s scrvUSD savings vault, currently yielding [around 6.9% annually](https://www.curve.finance/crvusd/ethereum/scrvUSD). For this example, we’ll assume a 5% annual yield for simplicity. 2. Next, they take their scrvUSD to Spectra and deposit it into a 1-year market. In return, Spectra issues them: - **Principal Token (PT-scrvUSD):** Represents the original crvUSD without the yield. One PT token can be redeemed for one crvUSD after one year. - **Yield Token (YT-scrvUSD):** Represents the right to all yield generated by the scrvUSD over the next year. At a 5% rate, this would trade for about $0.05 today. 3. The user can now **sell their YT token** immediately for upfront cash, helping them cover their short-term needs, all while still holding the PT token and reclaiming their original crvUSD after maturity. Because scrvUSD earns a share of Curve DAO revenue from crvUSD mint markets, trading YT-scrvUSD is effectively **a bet on whether that revenue of the DAO**, and the vault’s yield, **will rise or fall over the term**. ## How Curve Powers Spectra’s Yield Markets Spectra’s yield tokenization relies on liquid and precise markets between three types of tokens: - **Interest-Bearing Token** (IBT) - **Principal Token** (PT) - **Yield Token** (YT) To create this liquidity, Spectra uses **Curve's oraclized Stableswap pools**. This mechanism already enables highly liquid and efficient pools for other assets with predictable price changes, for example an scrvUSD/USDT pool, or an wstETH/ETH pool. Spectra applies this same technology to its yield markets by creating a PT/IBT pool. Because any user can redeem 1 IBT by returning 1 PT plus 1 YT, a single PT/IBT pool creates liquidity for all three tokens. As PT and IBT change in value over time, a **custom oracle** is integrated into the pool that **feeds their** **expected prices into the Curve AMM**. This allows the AMM to focus on pricing the difference between the expected rate and the actual market rate, which is set by traders buying and selling based on their views of future yields. The diagram below illustrates how a liquidity provider contributes to this foundational PT/IBT market: ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/07/providing-liquidity.jpeg) Curve's Stableswap pools are the liquidity foundation of Spectra's yield markets. ## **Spectra’s Growth & Benefits for Curve** Spectra has seen significant growth over the past year, with total value locked (TVL) rising from around $20 million to **$100 million, a 5x increase in 12 months**. This growth reflects increasing demand for on-chain interest rate markets and broader adoption of tokenized yield strategies. However, it also speaks to Spectra’s strong execution, attention to detail, slick UI and positive sum interactions with the broader DeFi ecosystem. Spectra builds its markets on Curve's specialized Stableswap pools, gaining access to highly efficient and proven infrastructure. In return, the Curve DAO receives **20% of all swap fees** from these pools. This ensures that as Spectra's trading volume grows, it continuously generates direct revenue for the Curve ecosystem, creating a positive sum relationship. ## **Building With Curve** Spectra’s growth highlights how protocols can build new financial primitives on top of Curve’s infrastructure, in a sustainable and positive sum way for both Spectra and Curve. As adoption of DeFi accelerates, Curve is positioning itself as a core layer for the ecosystem. If you're building in DeFi and need deep liquidity, oracle support, or stable pricing infrastructure, **Curve is ready to support your integration**. --- Talk to Curve about creating your own pool or integrating Curve's infrastructure [Get in Touch! ](https://t.me/curvefi) --- ### Five Years of Curve DAO URL: https://news.curve.finance/five-years-of-curve-dao-2/ Last updated: 2025-08-15T15:09:54.000Z # How a Chad Launched the Curve DAO Five years ago, the Curve DAO went live in a way no one expected. The token and governance contract had been publish ahead of launch for public review. The team was getting ready to deploy. But someone moved first. **0xc4ad**, an anonymous community member, hit deploy. The community got excited. The team rushed to verify that the bytecode and parameters matched the public code. It did. The community made it canonical. **And just like that, the Curve DAO was born.** > Yo, [@CurveFinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw) ! Saw your DAO is ready to rock and I gots to MAXIMIZE MY ALPHA ! So I went ahead and deployed it for you. Get at me in DM to verify and lets get this party started!! [pic.twitter.com/D0KqEg4Ldr](https://t.co/D0KqEg4Ldr) > > — 0xc4ad (@0xc4ad) [August 13, 2020](https://twitter.com/0xc4ad/status/1293977012550467584?ref%5Fsrc=twsrc%5Etfw) ## What the launch changed for DeFi Curve introduced **vote-escrowed tokenomics**. By locking your governance token (CRV into veCRV), you get a **share of the revenue** *and* **governance rights**, a powerful combo to pull people into the DAO. With veCRV, you would also gain the power to influence where future CRV emissions went. This created a competition for governance power early on. That contest would later be called the Curve Wars. The design proved durable and contagious. In the years that followed, projects like Balancer, Frax, Velodrome, Aerodrome, and Pendle shipped their own ve-style systems. Each built on the same idea: **aligning incentives and making emissions programmable**. # Curve Wars & Vote Incentives If veCRV made emissions **programmable**, vote incentives made them **priced**. The **Curve Wars** were a scramble by protocols to accumulate or influence **veCRV** so they could direct weekly gauge votes toward their own pools. Protocols locked **CRV** directly, used liquid lockers, or accumulated **CVX** to access aggregated voting power. For example, as of today, **Convex holds \~52.7%**, **Stake DAO \~14.72%**, and **Yearn \~10.45%**of veCRV voting power. Other protocols, including **Liquity** and **Aave**, have also accumulated **CRV** or **CVX** as a proxy for veCRV voting power. Because veCRV holders decide where CRV emissions go through gauge weight votes, and attention is scarce, decisions run on a **weekly schedule**, with measurable outcomes. Projects also began paying voters to direct voting weight toward specific pools to attract liquidity. Platforms emerged, used primarily by *other* protocols, where anyone could post incentives for veCRV holders to vote for specific pools. Put simply, vote incentives let anyone post rewards for veCRV holders to incentivize weekly gauge weight votes toward a chosen pool. That puts a clear **price on influence**, keeps coordination quick (weights can shift each week), and boosts emissions on the targeted pool so LPing there is more attractive. An easy way to **attract (and essentially “rent”) liquidity** for a period. ## Five years of weekly revenue Here is what five years of holding veCRV got you: - **$159.25M** in **real yield ($)** to veCRV, paid across **256 consecutive weeks** - **$622.07k average payout per week** (about **$33.38M per year**) and peaking at **$4.47M** in a single week - Paid in **3CRV** initially (LP token with a mix of USDT, USDC and DAI)**,** now in **crvUSD** to better align incentives On a per-unit basis, **one veCRV** held from day one would have earned **approximately $0.524** in 3CRV/crvUSD rewards. Even more if you include additional airdrops to **veCRV** holders such as **CVX**, **Ellipsis**, and many others. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/08/IMG_2068.png) And by design, fee distribution is **permissionless**. **Anyone** can call the contracts to trigger distribution. No multisig or manual approval is required. The result is governance that pays. Lock, vote, and share fees from protocol activity. Five years in, the loop still clears each week. ## Revenue to scrvUSD Then came scrvUSD, the savings version of Curve's decentralized stablecoin crvUSD. Borrowers who mint crvUSD pay interest, and that interest funds the savings rate paid to scrvUSD holders. A total of **1.35M crvUSD** has been distributed to scrvUSD since the launch in [October 2024,](https://etherscan.io/tx/0x47955d156bf68da3189b23020e8d2682103924050dfc9645a3c3cc0486913d80) resulting in a 9 month average yield of approximately 6%. The newest payout route in the DAO, scrvUSD shifts a share of the borrower interest to savers. By soaking up crvUSD and encouraging new minting, it can grow the total interest pie even as payouts are split between veCRV and scrvUSD. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/08/IMG_2069.png) ## Governance The governance model launched with the DAO has also held for five years without interruption. Every major change is put to a public vote, and participation has stayed high enough to keep quorum almost every time. The result is a DAO that is both active and broad, not dominated by a few voters. In that time, the community has handled **1,276** proposals with an average **participation rate of \~46.7%** (peaking near **90%**), and hit **quorum \~97.6%** of the time. Voters have cast **\~384.6B CRV**, averaging **\~301.4M CRV** per proposal. An average support rate of \~93.2% shows consistent alignment among voters. Combined with large turnouts and fully public decision-making, shows the decentralization is real. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/08/IMG_2070.png) ## Most notable DAO votes In five years the DAO has made calls that shaped Curve’s direction. From funding Swiss Stake AG to keep core development moving, to backing LlamaRisk’s ongoing risk oversight. More recently, the DAO approved a mechanism to redirect 10% of protocol revenue to a community fund, laying the groundwork for long-term sustainability and future growth. Votes like these show how the community can move fast on big decisions when it matters. # Curve as a building block We should also not forget that the DAO governs infrastructure that other protocols depend on. Reliable parameters, predictable emissions, and open deployment frameworks, along with the core efficiencies Curve brings, mean other teams can plan around Curve for the long term. That trust is why some of the most active protocols in DeFi have chosen to integrate directly with Curve. - **Yearn, Convex Finance, and Stake DAO** aggregate veCRV voting power to boost rewards for Curve LPs, provide liquid lockers, and add auto-compounding so users capture more yield with less effort. - **Resupply** builds on Curve’s lending layer and lets users borrow against assets supplied to Curve lending markets, improving capital efficiency. - **Spectra** uses Curve’s AMMs to power yield trading markets. There are many other solid projects building on top of Curve, made possible in large part by the Curve DAO’s consistent support and involvement. ## Conclusion Curve built more than a DEX or lending layer. It built a **rules-based revenue machine** and a **market for coordination**with transparent, credibly neutral rules. Revenue is shared automatically with those who commit (veCRV) and those who save (scrvUSD). With active governance, thousands of votes with consistent quorum prove it. That’s why Curve is successful, and why others build on top. **On to the next five.** ### Curve Best Yields & Key Metrics | Week 33, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-33-2025/ Last updated: 2025-08-14T15:15:15.000Z ## Market Overview What a week! The Curve DAO just turned 5, and we're celebrating with some great numbers to match. - Total Value Locked (TVL) is **up 11.7%**, hitting **$2.888B**, a new high for 2025! - To celebrate its birthday, the Curve DAO saw its programmed yearly decrease in CRV emissions, which **reduced yearly inflation from 6% to 5%**. - Read about the Rise of Curve here: [Curve Finance: The Rise of the Home of Stablecoins](https://news.curve.finance/curve-finance-the-rise-of-the-home-of-stablecoins/) Below, you'll find a breakdown of the week's metrics and a look at some of the best yield opportunities on Curve right now. ## Top Yields ### USD Stablecoins This week, we're seeing yields spread across a variety of pools, with many offering attractive opportunities over 12%. Leading the pack are the Llamalend markets, which are topping the charts with the best available crvUSD yields. As sUSD has now recovered its peg, we've included it in our list of top opportunities as well. | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x95f19b19aff698169a1a0bbc28a2e47b14cb9a86.png)ycvxCRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-35/vault/deposit) | Llamalend | 22.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x6e58089d8e8f664823d26454f49a5a0f2ff697fe.png)SQUID](https://curve.finance/lend/#/fraxtal/markets/one-way-market-4/vault/deposit) | Llamalend | 16.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x53a6abb52b2f968fa80df6a894e4f1b1020da975.png)dUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-102/deposit) | Pool | 15.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1ec28d129707052df4df418d58a2d46d5f51.png)sUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-371/deposit) | Pool | 14.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 14.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | Llamalend | 14.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 13.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x8c6f28f2f1a3c87f0f938b96d27520d9751ec8d9.png)sUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xda10009cbd5d07dd0cecc66161fc93d7c9000da1.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x7f5c764cbc14f9669b88837ca1490cca17c31607.png)USDC.e![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x94b008aa00579c1307b0ef2c499ad98a8ce58e58.png)USDT](https://curve.finance/dex/#/optimism/pools/factory-v2-0/deposit) | Pool | 13.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-251/deposit) | Pool | 12.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | Llamalend | 12.7% | ### Top BTC & ETH Yields Yields across major crypto assets have seen a slight downturn this week. [Bedrock](https://app.bedrock.technology/unibtc)'s uniBTC once again holds the top spot, while the real standout is the stETH concentrated pool, which delivered an impressive organic yield of over 8%. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | 8.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-117/deposit) | ETH | 8.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 6.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfae103dc9cf190ed75350761e95403b7b8afa6c0.png)rswETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-80/deposit) | ETH | 5.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 4.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://curve.finance/dex/#/optimism/pools/factory-v2-63/deposit) | BTC | 1.4% | ### Other Top Yields Leading the CRV yield charts is [CrossCurve](https://crosscurve.fi/)'s CRV pool. Meanwhile, for those holding Euros, Curve continues to offer a compelling alternative, with its Euro yields comfortably outperforming traditional bonds. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x38dd6b3c096c8cbe649fa0039cc144f333be8e61.png)xCRV![](https://curve.finance/images/default-crypto.png)sCRV\_t![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x5af79133999f7908953e94b7a5cf367740ebee35.png)CRV](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-106/deposit) | CRV | 39.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 20.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 11.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 8.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 5.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 2.5% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD supply continues its steady increase, finding homes in Llamalend markets and DEX pools. Interestingly, this comes as the ratio of crvUSD staking for the 7.3% yielding scrvUSD pool decreases, a rate that is 50% more than [Sky](https://sky.money)'s savings rate. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $121M | +2.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $11M | \-$3.94M | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 7.3% | +0.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 43.0% | \-4.9% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $1.0 | +$0.0002 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 7.6% | +1.8% | ### Llamalend Llamalend metrics are on the rise across the board, with the exception of the total number of loans. This suggests that current borrowers are highly confident in the system and its robust, built-in liquidation protection. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $291M | +9.4% | | 🦙 Supplied | $112M | +2.3% | | 🦙 Borrowed | $203M | +3.0% | | 🦙 Collateral | $383M | +8.0% | | 🦙 Loans | 1598 | \-28 | ### DEX As is often the case, volatility proved to be beneficial for liquidity providers this week. Average swap sizes increased by approximately 20%, contributing to a 25% increase in total fees paid by swappers. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.59B | +11.4% | | 🔄 Volume | $2.52B | +19.4% | | 🔄 Swaps | 475k | \-0.2% | | 🔄 Total Fees | $462k | +25.2% | ### DAO This week, the programmed annual 16% CRV emissions reduction went into effect. This yearly reduction, which mirrors Bitcoin's halving model (reducing emissions by 50% every four years), successfully lowered the annual inflation rate from 6% to 5%. This dropped weekly CRV emissions from **2.64M** to **2.22M**, which is the direct cause of the decrease in the weekly CRV emission amount. Interestingly, total veCRV is up, suggesting that some CRV lockers renewed their commitments this week. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | ------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.39B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 872M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 795M | +0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $246k | +3.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $2.14M (2.22M CRV) | \-11.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 5.0% | \-16.0% | ## DEX Winners & Losers Looking at the DEX, it was a great week for **stETH** pools. Thanks to the bump in ETH's price, they came out on top in TVL, volumes, and fees for liquidity providers. ### Fees Winners & Losers It's great to see [Stargate](https://stargate.finance/)'s STG Cryptoswap pool have significant fee generation for their LPs, while it's interesting to see some of the winning pools from last week turning into the losers for fee generation this week as markets ebb and flow. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $497M | $49.7k | +$30.6k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xaf5191b0de278c7286d6c7cc6ab6bb8a73ba2cd6.png)STG![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-crypto-37/deposit) | $3.78M | $13.4k | +$10.6k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $177M | $14.2k | +$9.29k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x83f20f44975d03b1b09e64809b757c47f942beea.png)sDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-102/deposit) | $38.2M | $7.65k | \-$7.43k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $6.97M | $25.1k | \-$8.72k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbdc7c08592ee4aa51d06c27ee23d5087d65adbcd.png)USDL![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-243/deposit) | $12.6M | $1.26k | \-$8.89k | ### Volume Winners & Losers Liquidity demand shifted this week, with ETH being the star of the show while USD stablecoins were a bit less sought after. | 📍 | Chain | Pool | Volume | Fees | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $497M | $49.7k | +$306M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $138M | $6.88k | +$118M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $177M | $14.2k | +$116M | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x83f20f44975d03b1b09e64809b757c47f942beea.png)sDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-102/deposit) | $38.2M | $7.65k | \-$37.1M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbdc7c08592ee4aa51d06c27ee23d5087d65adbcd.png)USDL![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-243/deposit) | $12.6M | $1.26k | \-$88.9M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $274M | $2.74k | \-$140M | ### TVL Winners & Losers Curve's Base deployment had the biggest TVL winner this week, as [Origin](https://www.originprotocol.com/super-oeth)'s SuperOETH pool almost doubled it's TVL. | 📍 | Chain | Pool | TVL | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xdbfefd2e8460a6ee4955a68582f85708baea60a3.png)superOETHb](https://curve.finance/dex/#/base/pools/factory-stable-ng-143/deposit) | $109M | +$50.2M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $216M | +$35M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $115M | +$18.7M | | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $55.6M | \-$2.66M | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8daebade922df735c38c80c7ebd708af50815faa.png)TBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeb4c2781e4eba804ce9a9803c67d0893436bb27d.png)renBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfe18be6b3bd88a2d2a7f928d00292e7a9963cfc6.png)sBTC](https://curve.finance/dex/#/ethereum/pools/tbtc/deposit) | $1.02M | \-$5.12M | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6bf340db729d82af1f6443a0ea0d79647b1c3ddf.png)tacBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc96de26018a54d51c097160568752c4e3bd6c364.png)FBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-446/deposit) | $6.98M | \-$8.54M | ## Llamalend Winners & Losers An interesting trend emerged in Llamalend user behavior this week: - Users with WETH collateral shifted from Lend markets to crvUSD Minting markets. - Conversely, users with WBTC collateral moved from crvUSD Minting markets to Lend markets. Despite these internal reallocations, the platform saw a net increase of **$6M** in total borrows and a **$5M** increase in crvUSD supplied to Lend markets, highlighting a strong overall growth for the protocol. ### crvUSD Minting Markets - Borrowing Winners & Losers | 📍 | Chain | Market | Collateral | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://www.curve.finance/crvusd/ethereum/markets/weth/create/) | $94.6M | $41.7M | +$6.26M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://www.curve.finance/crvusd/ethereum/markets/tbtc/create/) | $25.3M | $10.1M | +$82.4k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://www.curve.finance/crvusd/ethereum/markets/cbbtc/create/) | $8.55M | $5.24M | +$31k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC](https://www.curve.finance/crvusd/ethereum/markets/lbtc/create/) | $3.19M | $1.95M | \-$5.53k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://www.curve.finance/crvusd/ethereum/markets/wsteth/create/) | $20.9M | $6.81M | \-$764k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://www.curve.finance/crvusd/ethereum/markets/wbtc/create/) | $104M | $51.8M | \-$2.92M | ### Lend Markets - Borrowing Winners & Losers | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $20.3M | $16.2M | +$3.43M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $8.7M | $5.63M | +$725k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $32.7M | $25.6M | +$269k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-1/vault/deposit) | $198k | $77.2k | \-$133k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $4.11M | $1.87M | \-$842k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $19M | $15.2M | \-$951k | ### Lend Markets - Supplying Winners & Losers | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-30/vault/deposit) | $20.3M | $16.2M | +$3.76M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $8.7M | $5.63M | +$1.98M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC](https://curve.finance/lend/#/arbitrum/markets/one-way-market-10/vault/deposit) | $1.94M | $1.05M | +$139k | | ... | ... | ... | ... | ... | ... | | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $32.7M | $25.6M | \-$272k | | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-17/vault/deposit) | $3.93M | $3.38M | \-$279k | | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $19M | $15.2M | \-$2.12M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Finance: The Rise of the Home of Stablecoins URL: https://news.curve.finance/curve-finance-the-rise-of-the-home-of-stablecoins/ Last updated: 2025-08-12T14:14:24.000Z Since 2020, Curve Finance has grown from a niche stablecoin AMM into one of DeFi’s most battle-tested and influential platforms. It solved a real problem: legacy AMMs like Uniswap weren’t built for assets with similar prices, where swapping DAI to USDC or USDT meant eating unnecessary slippage. Curve fixed that with math. Efficient, low-slippage swaps for pegged assets quickly became essential infrastructure, powering all of DeFi. ### Innovation from the Start Curve began with founder Michael Egorov’s [StableSwap whitepaper](https://www.curve.finance/files/stableswap-paper.pdf) in late 2019, which introduced an optimized AMM formula combining constant sum and constant product market makers to minimize slippage for pegged asset swaps. The protocol launched in early 2020, immediately outperforming generalized AMMs for stablecoin trades and wrapped BTC pairs. Traders, LPs, and arbitrageurs piled in. In true crypto fashion, the CRV governance token and DAO contracts were deployed in August 2020, not by the Curve team, but by an anonymous community member ([0xc4ad](https://x.com/0xc4ad)), using code that had been made public to give the community an opportunity to review it ahead of launch. Curve verified the deployment and the community adopted it as a legitimate launch. ### The Curve Wars and DeFi Liquidity Power The CRV token introduced a novel governance system known as veCRV (vote-escrowed CRV), giving long-term stakers increased voting power, used for governance, to direct CRV emissions across liquidity pools and to boost LP rewards. This kicked off a competitive flywheel: the more CRV you earned, the more veCRV you could lock, which in turn increased your ability to influence where future emissions went. Within a week, Curve’s TVL tripled to over $400M. By mid-2021, it peaked around $19B, which was number one in DeFi at the time. What followed became known as the **Curve Wars**. Protocols like Convex, Yearn, and StakeDAO raced to accumulate veCRV or court its voters. Why? Because owning Curve vote power meant controlling where liquidity flowed. If you launched a stablecoin and wanted truly deep liquidity, you needed veCRV, or at least the leverage to influence those who held it. ### From Stable to Volatile: Cryptoswap and Multichain Expansion In 2021, Curve rolled out Cryptoswap (Curve v2), extending its AMM design to volatile pairs. In comparison to Uniswap v3, it had no manual range orders, no active LP micromanagement. Just automated, dynamic concentration of liquidity around price. TriCrypto (wETH/wBTC/USDT) proved it worked. At the same time, Curve expanded across L2s and alt L1s, such as Polygon, Arbitrum, Avalanche and Fantom, and launched its **Factory pools**, enabling anyone to spin up new Curve markets. Curve’s architecture scaled across chains, bringing its liquidity engine to new ecosystems, while making it easier than ever for asset issuers to deploy on it. ### Security and Smart Design From the outset, Curve prioritized security and rigorous smart-contract engineering, opting for Vyper, a Python-inspired language optimized for safety and readability of math-heavy contracts, and originally developed by Vitalik Buterin. Curve’s contributions to Vyper development, including improved compiler features and reentrancy protection, highlight its commitment to security. The core AMM contracts have maintained a strong security track record despite managing billions in value. ### crvUSD and Llamalend: Rethinking Liquidations Curve reached another major milestone in 2023 with the launch of its native stablecoin, crvUSD, a fully decentralized, overcollateralized stablecoin with a twist: the LLAMMA (Lending-Liquidating AMM). Instead of triggering hard liquidations at a single price point, LLAMMA gradually shifts collateral into and out of stablecoins within a price range. This helps manage risk smoothly during market volatility and allows collateral to be automatically rebought if its price recovers, a common pattern in crypto markets. Because of this protection, LLAMMA enables users to borrow with exceptionally high loan-to-value ratios. Then came **Llamalend** in early 2024: a lending protocol built around crvUSD and the LLAMMA engine. Llamalend offers exceptionally high loan-to-value ratios, enabling users to safely borrow or lend with built-in liquidation protections. Its permissionless design has attracted integrations from major DeFi projects, creating strong incentives and enhancing Curve’s ecosystem. ### Why Builders Come to Curve - Deep liquidity for pegged assets and volatile pairs without active management required - Open, composable architecture with a battle-tested codebase - Permissionless by design—anyone can deploy, integrate, or extend - A governance model that aligns long-term stakeholders - Proven track record in security and risk management Curve isn’t just a place to swap stablecoins, it’s where new primitives get tested, launched, and scaled. If you’re issuing a stable asset, launching a DeFi product, or building yield strategies, you need Curve in your stack. ### **Looking Forward** Curve is infrastructure where liquidity happens, reliably, efficiently, and securely. Whether you're launching a new stablecoin, building a custom lending market, or designing custom yield strategies that plug directly into Curve’s liquidity engine, Curve gives builders and issuers the tools to plug directly into DeFi’s most resilient infrastructure. Come build what’s next. ### Curve Best Yields & Key Metrics | Week 32, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-32-2025/ Last updated: 2025-08-07T14:55:08.000Z ## Market Overview Green shoots are all around this week. [**Curve**](https://curve.finance)**'s TVL has increased to $2.585B, up 0.8%**. There have also been a few big updates: - Curve [launched on Etherlink, Tezos's native-EVM rollup](https://news.curve.finance/curve-now-live-on-etherlink/). - The [Llamalend UI](https://www.curve.finance/llamalend/ethereum/markets/) had some major updates, and will continue to change quickly over the coming months to make it easier than ever to lend and borrow. - It's also the last week of the Curve year, with the [5 year anniversary of the DAO next Thursday](https://news.curve.finance/crv-emission-rate-gets-a-cut-as-programmed/), which tprogrammed yearly \~16% CRV emission reduction. Curve continues to offer strong yields across a wide range of assets. Check them out below, along with this week’s key metrics and the new winners and losers sections for pools and lending markets, highlighting the top and bottom performers across several metrics. ## Top Yields ### USD Stablecoins [Asymmetry Finance](https://www.asymmetry.finance/)'s USDaf has been redeployed, and their [scrvUSD/USDaf pool](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-516/deposit) is absolutely printing this week! Also [Ebisu](https://ebisu.money/)'s ebUSD is a new entrant to this list. Plenty of options to explore. | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9cf12ccd6020b6888e4d4c4e4c7aca33c1eb91f8.png)USDaf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-516/deposit) | Pool | 63.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09fd37d9aa613789c517e76df1c53aece2b60df4.png)ebUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-487/deposit) | Pool | 48.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-336/deposit) | Pool | 29.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE](https://curve.finance/lend/#/ethereum/markets/one-way-market-39/vault/deposit) | Llamalend | 27.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/kava.png "Kava") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-kava/0x7f5373ae26c3e8ffc4c77b7255df7ec1a9af52a6.png)axlUSDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-kava/0x919c1c267bc06a7039e03fcc2ef738525769109c.png)USDt](https://curve.finance/dex/#/kava/pools/factory-v2-13/deposit) | Pool | 25.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x53a6abb52b2f968fa80df6a894e4f1b1020da975.png)dUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-102/deposit) | Pool | 25.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-0/vault/deposit) | Llamalend | 20.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x95f19b19aff698169a1a0bbc28a2e47b14cb9a86.png)ycvxCRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-35/vault/deposit) | Llamalend | 20.3% | ### Top BTC & ETH Yields [Bedrock Technology](https://www.bedrock.technology/)'s uniBTC pool has been constantly the top of this list with more than 12% yield for the last month, and their uniETH pools are also giving great yield. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | 14.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf1376bcef0f78459c0ed0ba5ddce976f1ddf51f4.png)uniETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-499/deposit) | ETH | 8.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x3bce5cb273f0f148010bbea2470e7b5df84c7812.png)scETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x43edd7f3831b08fe70b7555ddd373c8bf65a9050.png)frxETH](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-26/deposit) | ETH | 8.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 7.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 4.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-69/deposit) | BTC | 2.6% | ### Other Top Yields This section highlights Euro pools, CRV pools, and Tricrypto pools which have a equal and balanced exposure to BTC, ETH, and USD. | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x331b9182088e2a7d6d3fe4742aba1fb231aecc56.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-twocrypto-45/deposit) | CRV | 22.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 19.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x40d16fc0246ad3160ccc09b8d0d3a2cd28ae6c2f.png)GHO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-47/deposit) | TRICRYPTO | 16.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 10.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 5.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 3.1% | ## Weekly Metrics ### crvUSD & scrvUSD Importantly, crvUSD minted through borrows has increased, possibly due to the borrow rate decreasing, and the peg remains very firm. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $118M | +2.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $15M | +$2.95M | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 6.8% | \-0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 47.9% | +2.7% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $0.9999 | \-$0.0001 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 5.9% | \-1.3% | ### DEX TVL and volumes both increased this week, but due to dynamic fees and varying structures across pools, higher volumes don’t always result in higher fees. Fees also tend to peak during periods of market stress, which isn’t necessarily a positive sign. This week, volumes were up but overall fees declined, suggesting the activity was healthy and orderly. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.32B | +0.6% | | 🔄 Volume | $2.11B | +4.8% | | 🔄 Swaps | 476k | \-3.8% | | 🔄 Total Fees | $369k | \-22.2% | ### Llamalend Every key metric for Llamalend is up this week, coinciding with a recent UI update. [Check it out](https://www.curve.finance/llamalend/ethereum/markets/), and keep an eye out for more improvements in the coming months. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $266M | +3.5% | | 🦙 Supplied | $109M | +6.1% | | 🦙 Borrowed | $197M | +2.8% | | 🦙 Collateral | $354M | +2.4% | | 🦙 Loans | 1626 | +3 | ### DAO This is the last week you will ever see Curve's inflation above 6%, because next week it will automatically decrease \~16%. This means **inflation will fall to 5.0%**, coinciding with the [5 year DAO anniversary](https://news.curve.finance/crv-emission-rate-gets-a-cut-as-programmed/). The amount distributed to veCRV holders is only down this because last week was a double distribution. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | ------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.38B | +0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 872M | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 792M | \-0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $237k | \-58.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $2.42M (2.64M CRV) | \-9.9% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 6.0% | \-0.1% | ## Pools Winners & Losers ### Fees Winners & Losers Here we compare this week’s top pools for fee generation with last week’s. The pools with the largest increase in fees are shown as the top three winners, while those with the biggest decreases appear as the bottom three losers. It’s great to see USD stablecoins leading fee generation this week, with a standout performance from [Lift Dollar](https://liftdollar.com/)'s USDL, which jumped into these top lists for the first time. | 📍 | Chain | Pool | Volume | Fees | Change | | ---- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x83f20f44975d03b1b09e64809b757c47f942beea.png)sDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-102/deposit) | $75.4M | $15.1k | +$9.37k | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbdc7c08592ee4aa51d06c27ee23d5087d65adbcd.png)USDL![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-243/deposit) | $102M | $10.2k | +$8.61k | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-370/deposit) | $30.3M | $6.05k | +$2.78k | | ... | ... | ... | ... | ... | ... | | 1114 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | $26M | $15.9k | \-$12.3k | | 1115 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $191M | $19.1k | \-$15.8k | | 1116 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $10.1M | $33.8k | \-$34k | ### Volume Winners & Losers Here we compare this week’s top pools by volume with last week’s. The pools that saw the biggest increase in volume are shown as the top three winners, while those with the largest decreases are the bottom three losers. Swappers favored USD stablecoins this week, leading to the highest volumes in those pools, with the Spark.fi USDT pool topping the charts. As the ETH staking withdrawal queue continues to ease and stETH regains its peg, volumes in those pools are beginning to decline. | 📍 | Chain | Pool | Volume | Fees | Change | | ---- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | -------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $415M | $4.15k | +$211M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xbdc7c08592ee4aa51d06c27ee23d5087d65adbcd.png)USDL![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-243/deposit) | $102M | $10.2k | +$86.1M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $263M | $2.63k | +$82.1M | | ... | ... | ... | ... | ... | ... | | 1114 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd11c452fc99cf405034ee446803b6f6c1f6d5ed8.png)tETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-302/deposit) | $4.58M | $916 | \-$27.9M | | 1115 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-303/deposit) | $60.8M | $4.87k | \-$64.8M | | 1116 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $191M | $19.1k | \-$158M | ## Lending Market Winners & Losers ### Borrowing Winners & Losers Here are the winners and losers in lending markets that saw increases or decreases in the amount borrowed this week. Staked stablecoin markets continue to lead, with all top markets falling into this category. It’s clear that users are actively searching for yield. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/lend/#/ethereum/markets/one-way-market-32/vault/deposit) | $4.03M | $2.23M | +$3.71M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $32.9M | $25.3M | +$1.93M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $21.1M | $16.2M | +$1.27M | | ... | ... | ... | ... | ... | ... | | 76 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $3.04M | $2.15M | \-$192k | | 77 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000002.png)WFRAX](https://curve.finance/lend/#/fraxtal/markets/one-way-market-2/vault/deposit) | $942k | $520k | \-$253k | | 78 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-17/vault/deposit) | $4.21M | $3.37M | \-$847k | ### Supplying (Lending) Winners & Losers Here are the winners and losers for lending markets which saw increases or decreases for their amount supplied (lent) for the week. It's a similar story for the Supplying winners & losers to the borrowed, people are really focusing on trying to max their yields right now. | 📍 | Chain | Market | Supplied | Borrowed | Change | | --- | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | ------- | | 1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/lend/#/ethereum/markets/one-way-market-32/vault/deposit) | $4.03M | $2.23M | +$3.71M | | 2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $32.9M | $25.3M | +$1.93M | | 3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $21.1M | $16.2M | +$1.27M | | ... | ... | ... | ... | ... | ... | | 76 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | $3.04M | $2.15M | \-$192k | | 77 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000002.png)WFRAX](https://curve.finance/lend/#/fraxtal/markets/one-way-market-2/vault/deposit) | $942k | $520k | \-$253k | | 78 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/lend/#/ethereum/markets/one-way-market-17/vault/deposit) | $4.21M | $3.37M | \-$847k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Now Live on Etherlink URL: https://news.curve.finance/curve-now-live-on-etherlink/ Last updated: 2025-11-23T19:56:29.000Z Curve is now deployed on **Etherlink**, an EVM-compatible rollup built on top of the Tezos protocol. While most Ethereum L2s rely on separate governance and upgrade paths, Etherlink is designed as a **Tezos-native Smart Rollup**, meaning it benefits from Tezos’ on-chain governance, low fees, and fast finality. This deep protocol integration makes Etherlink unique among L2s, and positions Curve as the first major liquidity engine bridging Tezos and EVM ecosystems. To support the launch, Curve is included in [**Apple Farm Season 2**](https://app.applefarm.xyz/), a rewards program aimed at accelerating DeFi activity on Etherlink. Over $3 million in incentives are being distributed to participating apps, with Curve pools prioritized to help jumpstart stablecoin liquidity. With this launch, Curve becomes the stablecoin backbone for both Etherlink and Tezos, bringing deep liquidity to a uniquely integrated rollup and L1 pairing. It marks a step toward seamless stablecoin infrastructure across Tezos' growing modular ecosystem. Ready to explore? [Curve on Etherlink ](https://www.curve.finance/dex/etherlink/pools) ### CRV Emission Rate Gets a Cut - As Programmed URL: https://news.curve.finance/crv-emission-rate-gets-a-cut-as-programmed/ Last updated: 2025-08-06T14:00:18.000Z It’s that time of year again: **CRV emissions are getting cut.** The rate of new CRV will decrease from **\~137.4M CRV/year** (\~4.36 CRV/second) to **\~115.5M CRV/year** (\~3.66 CRV/second), marking the start of **Epoch 5**. The CRV emission rate decreases every August under Curve’s hardcoded emission schedule. The previous reduction kicked in on **Mon, Aug 12, 2024 at 22:17 UTC**. 🎂 ****5th birthday for Curve DAO!** CRV launched on ****August 12, 2020**, so Curve’s ****5-year anniversary** is right around the corner - and it arrives with this year’s emission reduction. ## The Emission Schedule CRV emissions follow a fixed, immutable schedule based on **epochs**, each lasting exactly **one year**. At the start of every new epoch, the emission rate decreases by a constant factor of: **2^(1/4) ≈ 1.189** This results in a **\~15.9%** reduction in emissions every August. As of today, all vesting CRV, including team allocations, investor distributions, and early user incentives, has been fully distributed. From here on, the only CRV entering circulation is through **gauge-weighted emissions**, where pools with more votes receive a larger share of the remaining supply. ## Why CRV Gets More Scarce Over Time Emission reduction is a key part of CRV’s long-term design: reduce inflation over time by tapering the supply of new tokens. This August’s cut continues that schedule, further lowering annual issuance and reinforcing CRV’s scarcity. ## **Historical Emissions Schedule** | **DATE** | **EPOCH** | **CRV EMISSIONS per YEAR** | | ------------------- | --------- | -------------------------- | | Aug 2020 - Aug 2021 | 0 | 274,815,283,00 | | Aug 2021 - Aug 2022 | 1 | 231,091,186,332 | | Aug 2022 - Aug 2023 | 2 | 194,323,750,18 | | Aug 2023 - Aug 2024 | 3 | 163,406,144,93 | | Aug 2024 - Aug 2025 | 4 | 137,407,641.50 | | Aug 2025 - Aug 2026 | 5 | 115,545,593.17 | ## How Does the Emission Reduction Happen? As with all mechanisms on Curve, the emission reduction is **fully permissionless**. It is not controlled by a multisig or any external administrator. When the CRV token contract was deployed on **August 12, 2020**, the entire emission schedule was set in stone. The first epoch began on that same day, and the code has enforced a gradual, permissionless reduction in emissions every year since, with no way to modify or reverse it. In practice, the reduction occurs when someone calls the `update_mining_parameters()` function on the CRV token contract after the one-year mark of the current epoch. **Anyone can trigger this update**, and once called, the emission rate is reduced for the next 12 months. 💡 Since the emission reduction isn’t automatically triggered, the exact timing can vary slightly. The `update_mining_parameters()` function must be called manually after the one-year mark — usually around ****August 12**, but the update might happen a day later depending on when someone calls it. The new emission rate always applies from the moment the function is called and lasts for the next 12 months. --- With another cut locked in, CRV gets scarcer — and that makes future veCRV revenues all the more valuable. ### Curve Monthly Recap July, 2025 URL: https://news.curve.finance/curve-monthly-recap-july-2025/ Last updated: 2025-08-14T13:30:20.000Z ## Key highlights of July - **Sidechain Boosts!** - **Launch on TAC:** Curve is live on TAC (EVM on TON) with a wallet-native Mini-App. - **scrvUSD Yield Is UP:** the savings rate printed multi-week highs (c. 9% at peak) before settling near \~7% by month-end. - **Power of Llamalend & LLAMMA:** How Curve’s liquidation mechanism saves position from liquidation. - **wstETH liquidity scare avoided:** a “liquidity crisis that didn’t happen” thanks to Curve pools. - **Notable on-chain Curve swap:** a single \~$30M stablecoin swap tapped Curve’s 3pool and Strategic Reserves. - Michael becomes a **Ethereum** **Torch Bearer** - **First half of 2025 in numbers!** --- ## Crosschain Boosts While Boosting infrastructure on sidechains/L2s has been live for a while, in July the first major integrators began using it. **StakeDAO** (and partly **Convex)** now deliver boosted Curve yields beyond Ethereum mainnet. And **StakeDAO’s OnlyBoost** optimizer allocates LP positions across StakeDAO, Yearn, and Convex to capture the highest effective boost per pool. > Boosting is utilized on more chains! > > — Curve Finance (@CurveFinance) [July 29, 2025](https://twitter.com/CurveFinance/status/1950273830620164322?ref%5Fsrc=twsrc%5Etfw) Cross-chain boosts became possible with the deployment of the [**Curve Block Oracle**](https://news.curve.finance/curve-block-oracle/) public-good infrastructure. A dashboard showing **live storage proofs** and **veCRV balances** across chains can be found here: ## Curve ships to Telegram via TAC Curve is now [live on TAC](https://www.curve.finance/dex/tac/pools/), the EVM layer on **TON**, with a **Telegram Mini-App**. Users can swap or provide liquidity from a Telegram wallet, no extensions or bridges needed, and TAC is backing early pools with incentives. TAC mainnet itself went live mid-July. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/08/tac.png) Curve’s most mobile-native surface yet, swaps and LP inside Telegram, opening a direct line to Telegram’s massive audience. --- ## scrvUSD Yield Up again With borrow rates across DeFi rising, including for **crvUSD,** the **scrvUSD** savings yield moved higher accordingly. It climbed from \~4.5% at the beginning of June to briefly **\>9%**, before settling around \~**7%**. All this yield for simply holding a stablecoin! The higher yield coincided with growth in **scrvUSD** supply from \~$45M to \~$50M. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/08/scrvusd.png) --- ## The Power of Llamalend & LLAMMA A clear real-world example comes from [**@ilivinskiy**](https://x.com/ilivinskiy/status/1949800748541210655): a **5× leveraged ETH** position opened around **$3,000** survived a drop to **\~$1,500**. It entered Llamalend’s **liquidation protection zone** in early March, stayed there for about a month, exited to the downside, later re-entered, and eventually exited on the upside. **All without the loan being closed or liquidated**. Llamalend uses **LLAMMA** (Lending-Liquidating AMM Algorithm). Instead of a hard liquidation at a single price, collateral is rebalanced **gradually** inside a protection range, shifting between collateral and crvUSD as price moves. That buys time to repay or wait for a bounce, and avoids the “one-and-done” liquidations common on fixed-threshold systems. **TL;DR:** Even through a heavy drawdown, the user kept the position alive for months. On many other protocols, it likely would have been fully liquidated much earlier. You want to learn more about the magic of Curve’s liquidation protection? Check out the resources here: ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/08/llamma.jpeg) --- ## Resilience in Need: Curve helped avoid a wstETH liquidity crisis As Aave saw large ETH withdrawals due to whale activity, some levered wstETH/ETH farmers experienced increased borrow rates for ETH and were forced to unwind their positions and sell wstETH at the same time, pushing the wstETH price off the \~1:1 peg. Arbitrageurs bought the discount and redeemed via Lido, swelling the validator exit queue (\~$2.2B, \~11 days). On tight “range” AMMs like Uniswap, liquidity vanishes once price leaves the bands around the peg where most LPs provide their liquidity. But the last frontier of crypto still holds: Curve’s **stableswap** keeps liquidity at every price (deepest near 1:1), so routes stayed efficient and avaliable, and the wobble didn’t become a full depeg with cascading effects across the lending markets. **All praise to passive, always in-range concentrated liquidity (no manual rebalancing needed).** > Some people did not quite understand, so this needs explanation. > > Concentrated liquidity in ranges (like Uniswap3 and others doing that) tend to have liquidity from price A to price B. And this range of prices for stable pairs is VERY tight. > > Asset sometimes like to go out of… > > — Curve Finance (@CurveFinance) [July 24, 2025](https://twitter.com/CurveFinance/status/1948353175808798931?ref%5Fsrc=twsrc%5Etfw) **Curve’s EMA-based oracles also held up under stress,** smoothing short-lived spikes and feeding reliable prices to crvUSD and Llamalend. That kept positions tied to their fair value. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/08/oracle.png) --- ## On-chain moment: $30M swap Curve flagged a **\~$30M** stablecoin trade (USDT → USDC) executed via CoWSwap and Kyber, with **\~$16.6M** routed through [3pool](https://www.curve.finance/dex/ethereum/pools/3pool/deposit/) (across two legs) and **\~$2M** through [Strategic USD Reserves](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-355/deposit/). It’s a good snapshot of Curve as neutral routing liquidity even when the RFQ is external. And a reminder: **3pool remains Ethereum’s most reliable stablecoin liquidity.** It’s sheer depth makes it the default pool for trades with size. Even when other protocols undercut swap fees to win order flow, slippage and execution risk dominate, so large routes still go through Curve. --- ## 10 Years of Ethereum: Michael becomes a Torch Bearer The **Ethereum Torch**, an NFT passed **wallet-to-wallet** over the 10 days leading up to Ethereum’s 10-year anniversary, reached **Michael Egorov** ([@newmichwill](https://x.com/newmichwill)) on **July 24** as the **fifth torchbearer**. Michael emphasized Ethereum’s *next step*: real-world integration via **resilient, transparent core infrastructure**, not hype metrics. He highlighted building on **Vyper** for clarity and security, and argued the future of DeFi will be defined by trust. **Something even whole nations can rely on.** > 1/8 [@ethereum](https://twitter.com/ethereum?ref%5Fsrc=twsrc%5Etfw) is turning 10 years old: the time flies! Over that time, it has grown from an idea to the foundation of the new financial system. > > — Michael Egorov (@newmichwill) [July 24, 2025](https://twitter.com/newmichwill/status/1948411579688489413?ref%5Fsrc=twsrc%5Etfw) --- ## First Half of 2025 in Numbers Curve Finance delivered a solid H1 2025: TVL ended at **$2.16B** ($2.04B on Ethereum) while trading **volume rose to $62.53B** from $56.48B in H2 2024\. Builder activity remained strong with **1,078 new liquidity pools** (847 in H2 2024) and \~40,000 active users across the DEX and Llamalend (not counting users via aggregators). **Curve’s Liquidation Protection** was a standout in H1 2025: $107.6M of positions entered liquidation protection and only $31.9M ended up being hard liquidated, **saving users $75.6M** (up 82% from $41.5M in H2 2024). Unlike regular liquidations, LLAMMA gradually converts collateral into crvUSD as prices fall and, if prices recover, automatically converts it back to restore the initial collateral, avoiding instant liquidations and giving borrowers time to repay debt or close positions. --- ### Curve Best Yields & Key Metrics | Week 31, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-31-2025/ Last updated: 2025-07-31T14:15:10.000Z ## 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 | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x000000096cb3d4007fc2b79b935c4540c5c2d745.png)jUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-447/deposit) | Pool | 25.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 22.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x15700b564ca08d9439c58ca5053166e8317aa138.png)deUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-217/deposit) | Pool | 19.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xd3dce716f3ef535c5ff8d041c1a41c3bd89b97ae.png)scUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-25/deposit) | Pool | 18.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5c5b196abe0d54485975d1ec29617d42d9198326.png)sdeUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x15700b564ca08d9439c58ca5053166e8317aa138.png)deUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-488/deposit) | Pool | 18.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x6e58089d8e8f664823d26454f49a5a0f2ff697fe.png)SQUID](https://curve.finance/lend/#/fraxtal/markets/one-way-market-4/vault/deposit) | Llamalend | 17.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-300/deposit) | Pool | 17.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-510/deposit) | Pool | 16.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x15700b564ca08d9439c58ca5053166e8317aa138.png)deUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-207/deposit) | Pool | 15.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-344/deposit) | Pool | 14.5% | ### Top BTC & ETH Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x3bce5cb273f0f148010bbea2470e7b5df84c7812.png)scETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x43edd7f3831b08fe70b7555ddd373c8bf65a9050.png)frxETH](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-26/deposit) | ETH | 11.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | 9.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | ETH | 7.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xdbfefd2e8460a6ee4955a68582f85708baea60a3.png)superOETHb](https://curve.finance/dex/#/base/pools/factory-stable-ng-143/deposit) | ETH | 6.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000006.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-6/deposit) | ETH | 6.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 5.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 2.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x661c70333aa1850ccdbae82776bb436a0fcfeefb.png)EBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-183/deposit) | BTC | 2.0% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x331b9182088e2a7d6d3fe4742aba1fb231aecc56.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-twocrypto-45/deposit) | CRV | 27.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 24.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 12.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 10.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 6.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | 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 | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | --------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $116M | \-0.5% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $12M | \-$553k | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Interest Rate | 7.1% | \-0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 45.2% | +0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $0.9997 | \-$0.0006 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)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. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.31B | \-1.1% | | 🔄 Volume | $2.01B | \-9.2% | | 🔄 Swaps | 495k | \-0.6% | | 🔄 Total Fees | $474k | \-17.0% | ### Llamalend A few more borrowers have come to Llamalend, with all other metrics remaining steady. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $257M | \-1.7% | | 🦙 Supplied | $103M | \-0.2% | | 🦙 Borrowed | $192M | +1.6% | | 🦙 Collateral | $346M | \-0.3% | | 🦙 Loans | 1623 | +11 | ### 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 | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | ------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.38B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 873M | +0.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 796M | \-0.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $569k | +614.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $2.69M (2.64M CRV) | +5.0% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)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 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | 3.3k | $17.8M | $67.8k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | 1.7k | $349.2M | $34.9k | | 3 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | 2.5k | $22.3M | $31.2k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | 12.4k | $38.8M | $28.2k | | 5 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | 1.5k | $142.5M | $21.4k | | 6 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/factory-crypto-234/deposit) | 1.4k | $4.7M | $17.3k | | 7 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | 7.4k | $32.4M | $16.1k | | 8 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | 114 | $66.5M | $13.3k | | 9 | +11 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xba3335588d9403515223f109edc4eb7269a9ab5d.png)GEAR![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH](https://curve.finance/dex/#/ethereum/pools/factory-crypto-192/deposit) | 1.2k | $2.8M | $11.4k | | 10 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | 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 | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | ------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $19.9M | $15.4M | +$1.63M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $31.2M | $23.9M | +$1.31M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | $4.61M | $3.33M | +$337k | ### Borrowing Losers | Chain | Market | Supplied | Borrowed | Change | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/lend/#/ethereum/markets/one-way-market-32/vault/deposit) | $301k | $181k | \-$288k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/lend/#/arbitrum/markets/one-way-market-13/vault/deposit) | $247k | $32.9k | \-$178k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-9/vault/deposit) | $1.42M | $457k | \-$93k | ### Supplying Winners | Chain | Market | Supplied | Borrowed | Change | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | ------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD](https://curve.finance/lend/#/ethereum/markets/one-way-market-28/vault/deposit) | $19.9M | $15.4M | +$1.47M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-11/vault/deposit) | $31.2M | $23.9M | +$958k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/lend/#/arbitrum/markets/one-way-market-9/vault/deposit) | $1.42M | $457k | +$204k | ### Supplying Losers | Chain | Market | Supplied | Borrowed | Change | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | -------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-9/vault/deposit) | $6.64M | $5.51M | \-$1.03M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/lend/#/ethereum/markets/one-way-market-32/vault/deposit) | $301k | $181k | \-$533k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-12/vault/deposit) | $3.8M | $2.6M | \-$513k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Best Yields & Key Metrics | Week 30, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-30-2025/ Last updated: 2025-07-25T01:28:30.000Z ## Market Overview It's been another great week for **Curve** with total **TVL up 3.9% to $2.59B**, just below the 12 month ATH of $2.62B. Volatility in Aave’s ETH borrowing rates has led to the unwinding of leveraged ETH staking positions. This has pushed many CLAMMs out of range and driven large volumes to Curve’s stETH pools, which remain consistently in range. All metrics are up across the board for Curve’s products. However, due to an issue with automatic crvUSD fee conversion via CowSwap, most of this week’s pool fees will be distributed next week. This explains the drop in veCRV fees for the week. There are many strong yield opportunities right now, check them out, along with the latest metrics, below. ## Top Yields ### USD Stablecoins | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x865377367054516e17014ccded1e7d814edc9ce4.png)DOLA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-300/deposit) | Pool | 57.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x83f20f44975d03b1b09e64809b757c47f942beea.png)sDAI](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-32/deposit) | Pool | 49.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x677ddbd918637e5f2c79e164d402454de7da8619.png)VUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-212/deposit) | Pool | 47.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x15700b564ca08d9439c58ca5053166e8317aa138.png)deUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-217/deposit) | Pool | 41.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x000000096cb3d4007fc2b79b935c4540c5c2d745.png)jUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-447/deposit) | Pool | 30.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x15700b564ca08d9439c58ca5053166e8317aa138.png)deUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-207/deposit) | Pool | 29.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5c5b196abe0d54485975d1ec29617d42d9198326.png)sdeUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x15700b564ca08d9439c58ca5053166e8317aa138.png)deUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-488/deposit) | Pool | 21.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x788d96f655735f52c676a133f4dfc53cec614d4a.png)dUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-45/deposit) | Pool | 21.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-485/deposit) | Pool | 20.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://curve.finance/images/default-crypto.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 19.6% | ### Top BTC & ETH Yields A great selection of different yields for BTC and ETH this week, with a BTC pool yielding 29%, the highest we've seen while doing this newsletter! | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | 29.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | ETH | 9.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x3bce5cb273f0f148010bbea2470e7b5df84c7812.png)scETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x43edd7f3831b08fe70b7555ddd373c8bf65a9050.png)frxETH](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-26/deposit) | ETH | 8.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x3d15fd46ce9e551498328b1c83071d9509e2c3a0.png)uniETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-84/deposit) | ETH | 6.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://curve.finance/images/default-crypto.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 6.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 5.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-266/deposit) | BTC | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x661c70333aa1850ccdbae82776bb436a0fcfeefb.png)EBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-183/deposit) | BTC | 3.5% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 39.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x38dd6b3c096c8cbe649fa0039cc144f333be8e61.png)xCRV![](https://curve.finance/images/default-crypto.png)sCRV\_t![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x5af79133999f7908953e94b7a5cf367740ebee35.png)CRV](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-106/deposit) | CRV | 35.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 17.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 16.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 5.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 4.6% | ## Weekly Metrics ### crvUSD & scrvUSD All metrics are up across the board, except for the scrvUSD yield, which is moderating toward the average crvUSD minting rate. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $116M | +2.6% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $12.6M | +$824k | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 7.2% | \-1.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 44.9% | +2.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $1.0002 | +$0.0002 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 7.0% | \-0.1% | ### DEX Volumes, fees, swaps, and TVL all increased this week by significant amounts. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $2.34B | +4.1% | | 🔄 Volume | $2.21B | +42.1% | | 🔄 Swaps | 498k | +25.0% | | 🔄 Total Fees | $571k | +35.8% | ### Llamalend Usage in Llamalend has increased, as borrowers and lenders take advantage of the great deals available. | Metric | Value | Change | | ---------------- | ----- | ------ | | 🦙 Llamalend TVL | $259M | +2.3% | | 🦙 Supplied | $103M | +3.2% | | 🦙 Borrowed | $189M | +4.8% | | 🦙 Collateral | $345M | +3.3% | | 🦙 Loans | 1612 | +6 | ### DAO This week’s veCRV distribution does not reflect the actual fees generated, due to an issue with automatic crvUSD fee conversion via CowSwap. CRV emissions are valued significantly higher this week, creating many of the yield opportunities currently available. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------ | ------------------ | ------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.38B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 873M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 799M | +0.3% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Distribution | $79.6k | \-62.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions | $2.56M (2.64M CRV) | +44.9% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 6.0% | \-0.1% | ## Top Assets by Fees ETH and USDC retain the top positions, while volatility in CVX pushed it to third place. The standout story this week was the stETH pools, which saw massive volumes as leveraged staking positions were unwound. *Fees here are the total fees paid by traders for access to liquidity.* | 📌 | 🔃 | Asset | Swaps | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------- | ------- | | 1 | \- | ![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH | 71.5k | $1.0B | $321.7k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC | 127.7k | $581.5M | $121.6k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX | 4.0k | $21.2M | $80.0k | | 4 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH | 5.5k | $731.7M | $71.9k | | 5 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT | 78.1k | $356.1M | $65.0k | | 6 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD | 128.2k | $155.7M | $44.3k | | 7 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV | 69.2k | $40.9M | $42.9k | | 8 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x1bfd67037b42cf73acf2047067bd4f2c47d9bfd6.png)WBTC | 13.4k | $35.5M | $25.3k | | 9 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH | 65.9k | $38.8M | $23.4k | | 10 | +6 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD | 118 | $87.8M | $17.5k | ## Top Pools by Fees stETH pools recorded the highest fees among Stableswap pools, as they were among the few in DeFi with consistently in-range liquidity. Market volatility also led to significant fees and volume across many Cryptoswap pools. *Fees here are the total fees paid by traders for access to liquidity*. | 📌 | 🔃 | Chain | Pool | Swaps | Volume | Fees | | -- | --- | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ------- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | 2.7k | $16.6M | $64.1k | | 2 | +9 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | 3.2k | $550.1M | $55.0k | | 3 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-190/deposit) | 8.7k | $3.5M | $34.8k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-4/deposit) | 9.2k | $37.1M | $31.4k | | 5 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | 1.2k | $5.7M | $30.0k | | 6 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | 1.8k | $128.1M | $19.2k | | 7 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-0/deposit) | 5.9k | $32.4M | $18.8k | | 8 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | 5.1k | $30.4M | $18.1k | | 9 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | 118 | $87.4M | $17.5k | | 10 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/factory-crypto-234/deposit) | 959 | $3.7M | $14.1k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve's Oracle Security Explained URL: https://news.curve.finance/curves-oracle-security-explained/ Last updated: 2025-08-28T12:38:20.000Z In DeFi, many protocols rely on accurate asset pricing. Lending markets, for instance, must know the real-time value of collateral to assess loan health and trigger liquidations. Solving this “oracle problem” is a longstanding challenge, and many platforms outsource this challenge to third-party solutions. Curve takes a different approach. Its oracles are built directly into its AMMs, drawing prices directly from the on-chain trading activity. Because of this native integration, they are used for the [crvUSD minting](https://www.curve.finance/crvusd) and [Llamalend lending markets](https://www.curve.finance/lend/) \- and trusted by many other DeFi protocols. ## How Curve Price Oracles Work Curve’s oracles are secured through two core mechanisms: a mathematically resilient EMA pricing system, and an economic design that makes manipulation unprofitable. ### Exponential Moving Average (EMA) Pricing Rather than outputting a volatile, easily manipulated spot price, Curve oracles use an **exponential moving average** (EMA). This works similarly to a simple (standard) moving average, but weights recent trades more heavily. This allows the oracle to reflect price trends faster than a simple MA, while also dampening sudden spikes, as can be seen below in this Price and Moving Averages chart: ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/06/price_ma_chart-1.png) Each oracle has a time window, typically 10 minutes, though this can be changed through DAO governance for each specific pool. Importantly, oracles update only once per block, preventing intra-block manipulation. The smoothing effect gives the oracle inertia. A flash loan or other large, sudden trades have dampened influence on the EMA. It protects against short-term manipulation by ensuring that price changes are gradual and harder to exploit. ### Economic Defense Against Manipulation The oracle’s second layer of security is economic. Any attempt to distort its price incurs a direct and significant cost due to the structure of Curve’s AMM. Manipulating the EMA requires a large swap that significantly shifts the pool’s balance. This incurs substantial **slippage**,where the attacker receives far less than what they put in, resulting in a guaranteed financial loss. Additionally, because Curve pools are actively monitored by searchers and arbitrageurs, any deviation from the fair market price is likely to be quickly corrected for profit, making sustained manipulation even harder. The combined cost and competitive arbitrage pressure are designed to outweigh any potential gain from exploiting downstream protocols using the oracle. This combination of mathematical smoothing and strong economic incentives makes Curve’s oracles a reliable foundation for systems like [Llamalend](https://www.curve.finance/lend/) and [crvUSD](https://www.curve.finance/crvusd). Users borrowing through Curve benefit from price feeds that are **tamper‑resistant and fully on‑chain**, with mechanisms in place to defend against manipulation. **However, increasing the moving‑average (MA) window strengthens manipulation resistance at the cost of responsiveness, particularly for liquidations, so oracle design is an explicit trade‑off between stability and reactivity.** ## **Why Curve's Oracle Held During the deUSD Event** In a recent incident, the [Chainlink oracle for deUSD](https://blockonomi.com/chainlink-price-oracle-glitch-triggers-500k-in-defi-liquidations-amid-market-drop/) was unintentionally manipulated during a sandwich attack on the [deUSD/USDT pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-217/deposit/). The result: over $500,000 in liquidations on Euler’s Avalanche deployment. This occurred because the Chainlink feed was using a **volume-weighted average price (VWAP)**. A large sandwich trade caused the VWAP to spike—since the manipulated trade accounted for most of the measured volume. In contrast, the Curve pool’s internal oracle barely moved, as designed. Because Curve’s EMA is not swayed by large intra-block trades, it remained stable throughout the event. See below for details. Note that Oracle Price is the Pool’s Price Oracle, and VWAP Price is the 1-day rolling VWAP Price of the pool. | Transaction | Sold | Bought | Swap Price | Oracle Price | VWAP Price | | ----------------------------------------------------------------------------------------------------------- | ---------- | ----------- | ---------- | ------------ | ---------- | | [Swap Before](https://etherscan.io/tx/0x293ca257e4907dd6539376e2a78a5d155bc2b6574a03351ee7d509e40044b020) | 183 USDT | 183 deUSD | $0.99961 | $0.99949 | $0.99950 | | [Pre-sandwich](https://etherscan.io/tx/0x0d42ca8922313b0a02413d07382fe79a26e954f1b92136b05a37c66eb3f49edb) | 210k USDT | 203k deUSD | $1.03493 | $0.99952 | $1.03217 | | [Victim Swap](https://etherscan.io/tx/0xdf8b0deccd7e89c9dcce0629b34c056a11c6597bb1354a159870ec521804cb75) | 5.06k USDT | 2.92k deUSD | $1.73227 | $0.99952 | $1.04740 | | [Post-sandwich](https://etherscan.io/tx/0x85c56500f3b27dc4cbb716cc5cb9cce032fbd0b6ca5c0a6587570ff1a31a10ae) | 203k deUSD | 212k USDT | $1.04520 | $0.99952 | $1.04637 | | [Swap After](https://etherscan.io/tx/0x0b021646a79c3977594fbb4f708090764ab51a7d65a6d09e4e7067d3e55dcd40) | 67 USDT | 67 deUSD | $0.99976 | $0.99963 | $1.04673 | ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/06/deusd-sandwich-oracle-prices-2.png) A comparison of the price of deUSD as reported by Curve’s oracle (blue) and the Chainlink VWAP oracle (yellow) As seen in the chart, the VWAP price spiked sharply due to the large swap volume, which disproportionately influenced the volume-weighted average. In contrast, the Curve pool’s oracle held steady, accurately reflecting the price that regular users with tight slippage tolerances would receive. Had the external protocol used Curve’s built-in oracle, this event could likely have been avoided. ## Developer Guide: Integrating Curve Oracles Because Curve’s pricing logic is embedded directly in its pools, developers gain access to a permissionless, on-chain oracle with no external dependencies or fees. The oracle updates automatically with each trade, requiring no off-chain inputs or maintenance. Curve pools expose two key functions: - **`price_oracle()` – The EMA Price:** This function returns the exponential moving average, providing a smoothed price that updates with each trade. It is the recommended source for use cases involving collateral valuation, liquidations, or settlement - anywhere it is critical to have resistance to manipulation. However, it’s important that the pool’s liquidity and trading volume are quite big. Ideally larger than the protocol relying on the oracle to ensure that the oracle cannot be easily influenced relative to the value being secured. - **`last_price()` – The Spot Price:** This function outputs the raw result from the most recent swap. While useful for dashboards and visualizations, it is not safe for automated decision-making due to its sensitivity to individual trades. ⚠️ The `price_oracle()` function does not account for rates of oracleized assets such as ERC-4626 tokens (yield-bearing tokens). For pools containing these assets, developers need to manually calculate the actual price by incorporating the conversion rate. For example, if a pool contains sUSDS (a yield-bearing USDS token), the oracle returns the underlying USDS price, not the sUSDS price including accumulated yield. More [here](https://docs.curve.finance/stableswap-exchange/stableswap-ng/pools/oracles/#price%5Foracle). Developers can refer to [Curve’s technical documentation](https://docs.curve.fi/) or engage with the team for implementation help. --- Dive into the technical Documentation or chat with Curve on Telegram about its Oracles: [Curve's Telegram ](https://t.me/curvefi) [Stableswap Pool Oracle Docs ](https://docs.curve.finance/stableswap-exchange/stableswap-ng/pools/oracles/) [Cryptoswap Pool Oracle Docs ](https://docs.curve.finance/cryptoswap-exchange/tricrypto-ng/pools/oracles/) ### State of Vyper & Curve Smart Contracts URL: https://news.curve.finance/state-of-vyper-curve-smart-contracts/ Last updated: 2025-07-18T14:48:06.000Z ### Why Curve Builds in Vyper Solidity dominates the EVM landscape, but Curve has stayed committed to Vyper. Its Python-like syntax makes math-heavy contracts easier to read and audit, and the language’s strict design is optimized for safety and predictability. Another practical advantage, both early on and still today, is that Vyper consistently produces leaner bytecode than Solidity. This has allowed Curve to fit complex contracts within the EVM’s 24 KB size limit (set by EIP-170) without having to split logic across multiple contracts. Over time, Curve’s production use cases have helped shape Vyper’s development. Many features were added to meet specific needs around security, deployment patterns, and compiler reliability. Today, the language is more flexible, but still aligned with the values that led Curve to adopt it in the first place: clarity, simplicity, and security. ### Recent Compiler Updates ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/07/compiler.png) - **Reentrancy protection by default**: Starting in Vyper 0.4.2, functions are non-reentrant unless explicitly marked. This protects against common attack vectors, including read-only reentrancy, which has affected Curve in the past. - **CREATE and CREATE2 support**: Vyper now exposes these low-level opcodes cleanly, making factory-style deployments easier and safer. - **Snakepit**: Developed together with ChainSecurity, this tool checks over 30,000 contracts in public repositories across 20+ chains for vulnerabilities. The compiler can then flag existing contracts that would be at-risk if issues are found in the future. ### Optimizing Vyper with Venom: Vyper’s IR ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/07/venom.png) A new intermediate representation called **Venom**, inspired by LLVM, is currently in development for the Vyper compiler. It enables automatic gas optimizations at compile time while keeping the source code clean and human-readable. While not yet production-ready, Venom is showing promising results. With formal verification tooling becoming more accessible, we’re getting closer to being able to use these optimizations safely in critical contracts. In benchmarks, Venom-compiled Vyper contracts perform as well as or better than manually optimized Yul implementations. Developers get the performance of low-level code without sacrificing clarity. ### Formal Verification and What's Next ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/07/verification.png) Curve is working with Certora and HEVM to build formal verification tooling for Vyper. The goal is to prove that optimized and unoptimized versions of a contract behave identically, removing the usual trade-off between performance and safety. In parallel, **Verifereum** is working toward a fully verified Vyper compiler, in collaboration with **Ramana Kumar**, one of the few researchers to have built a verified compiler before (CakeML). These projects approach formal verification from different angles but share a common goal of making Vyper safer for production use. Other upcoming features: - **Runtime memory allocator** for more dynamic use of memory - **Raw return** was recently introduced in Vyper 0.4.3, enabling more robust proxy patterns - [ownership-proxy](https://github.com/curvefi/ownership-proxy), a new delegation model developed and open-sourced by Curve - **Storage packing**, a long-requested feature, is expected soon ### Want to Learn and Support Vyper? Vyper is getting more powerful, and with tools like Snakepit and Venom, it’s never been a better time to start using it in production. Curve has helped shape the language over the years, and we're continuing to support its ecosystem through education, tooling, and funding. If you're curious about [Vyper](https://vyperlang.org/) or want to start building with it, check out the [Curve x Cyfrin Vyper Developer Program](https://news.curve.finance/curve-cyfrin-updraft-developer-certification-scholarships/) — a free, hands-on way to get up to speed and start contributing. Please also support the Vyper ecosystem directly by contributing to the [Octant funding round](https://octant.app/project/8/0x0b450A3688a55d4221329D31e2F103bCe9adAc40) currently ongoing. Donations help sustain development and keep the language independent and open-source. [Support Vyper’s Future ](https://octant.app/project/8/0x0b450A3688a55d4221329D31e2F103bCe9adAc40) --- ### Curve Best Yields & Key Metrics | Week 29, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-29-2025/ Last updated: 2025-07-17T18:47:16.000Z ## Market Overview It has been an absolutely huge week for Curve. **Curve's TVL has increased 11.7% to $2.498B**, adding over $200M in a single week! With Curve's great performance there are some many fantastic yields to check out below. Check out the yields, or the metrics below, in this weekly report. ## Top Yields ### USD Stablecoins | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x677ddbd918637e5f2c79e164d402454de7da8619.png)VUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-212/deposit) | Pool | 38.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0xbc6da0fe9ad5f3b0d58160288917aa56653660e9.png)alUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 32.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x7a10f506e4c7658e6ad15fdf0443d450b7fa80d7.png)EYWA](https://curve.finance/lend/#/arbitrum/markets/one-way-market-21/vault/deposit) | Llamalend | 28.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-485/deposit) | Pool | 24.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xb45ad160634c528cc3d2926d9807104fa3157305.png)sDOLA](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-413/deposit) | Pool | 17.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-391/deposit) | Pool | 17.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xd3dce716f3ef535c5ff8d041c1a41c3bd89b97ae.png)scUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-25/deposit) | Pool | 17.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | Llamalend | 16.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x6e58089d8e8f664823d26454f49a5a0f2ff697fe.png)SQUID](https://curve.finance/lend/#/fraxtal/markets/one-way-market-4/vault/deposit) | Llamalend | 16.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-251/deposit) | Pool | 16.6% | ### Top BTC & ETH Yields This week there are multiple ETH pools yielding over 10%, but there's also a high yielding BTC pool at 12%! | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf1376bcef0f78459c0ed0ba5ddce976f1ddf51f4.png)uniETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-499/deposit) | ETH | 15.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x3bce5cb273f0f148010bbea2470e7b5df84c7812.png)scETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x43edd7f3831b08fe70b7555ddd373c8bf65a9050.png)frxETH](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-26/deposit) | ETH | 12.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x3d15fd46ce9e551498328b1c83071d9509e2c3a0.png)uniETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-84/deposit) | ETH | 12.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | 12.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | ETH | 9.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6bf340db729d82af1f6443a0ea0d79647b1c3ddf.png)tacBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc96de26018a54d51c097160568752c4e3bd6c364.png)FBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-446/deposit) | BTC | 4.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2ec37d45fcae65d9787ecf71dc85a444968f6646.png)brBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-493/deposit) | BTC | 3.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x661c70333aa1850ccdbae82776bb436a0fcfeefb.png)EBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-183/deposit) | BTC | 3.3% | ### Other Top Yields | Chain | Market | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 37.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x38dd6b3c096c8cbe649fa0039cc144f333be8e61.png)xCRV![](https://curve.finance/images/default-crypto.png)sCRV\_t![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x5af79133999f7908953e94b7a5cf367740ebee35.png)CRV](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-106/deposit) | CRV | 35.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x236aa50979d5f3de3bd1eeb40e81137f22ab794b.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/base/pools/factory-tricrypto-1/deposit) | TRICRYPTO | 13.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 12.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1abaea1f7c830bd89acc67ec4af516284b1bc33c.png)EURC](https://curve.finance/dex/#/ethereum/pools/factory-v2-164/deposit) | EUR | 5.0% | ## Weekly Metrics ### crvUSD & scrvUSD Users are coming in to borrow [crvUSD](https://www.curve.finance/crvusd/ethereum/markets/) as the borrowing rate decreases, with the amount minted (borrowed from minting markets) increasing nearly 5%. [scrvUSD](https://www.curve.finance/crvusd/ethereum/scrvUSD/) also acheived the [highest risk-free rate](https://x.com/SerenityFund/status/1945775840488501375) of any DeFi stablecoin this week. It's a great time to deposit or borrow crvUSD. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------- | -------- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Minted | $113M | +4.8% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Peg Stability Reserves | $11.7M | +$41.4k | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD Yield | 8.6% | +1.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD in![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/scrvUSD_xs.png)scrvUSD | 42.6% | \-3.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)crvUSD Price | $1.0001 | +$0.0001 | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/crvUSD_xs.png)Avg. Borrow Rate | 7.1% | +0.1% | ### DEX Everything's up, let's let the numbers speak for themeselves. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.25B | +11.2% | | 🔄 Volume | $1.56B | +52.8% | | 🔄 Swaps | 399k | +27.4% | | 🔄 Total Fees | $421k | +107.9% | ### Llamalend This week we've combined the crvUSD markets and Lending markets under the Llamalend banner, as they've been combined on the official UI. Considering this, all Llamalend metrics are also higher, it's a great time to within the Curve ecosystem. | Metric | Value | Change | | ---------------- | ------ | ------ | | 🦙 Llamalend TVL | $254M | +17.3% | | 🦙 Supplied | $99.9M | +10.3% | | 🦙 Borrowed | $180M | +5.1% | | 🦙 Collateral | $334M | +12.4% | | 🦙 Loans | 1606 | +4 | ### DAO This section is new, it's been created and will evolve to highlight important metrics within the Curve DAO. There's over $800M of locked CRV currently securing the Curve DAO, all locked for an average of 3.65 years. | Metric | Value | Change | | ----------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Circ. Supply | 1.37B | +0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Locked | 873M | \- | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)Total veCRV | 797M | \-0.2% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/veCRV_xs.png)veCRV Weekly Fees | $210k | +16.1% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)CRV Emissions (2.64M CRV) | $1.77M | +30.4% | | ![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/logos/CRV_xs.png)Inflation Rate | 6.0% | \-0.1% | ## Top Assets by Fees The top three assets for fee generation haven't changed, but it's been a huge shakeup for the other assets in this leaderboard. | Position | Change | Asset | Swaps | Volume | Fees | | -------- | ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------- | ------- | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH | 47.0k | $169.0M | $182.6k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC | 119.6k | $638.3M | $103.4k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT | 61.3k | $483.6M | $67.1k | | 4 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX | 2.6k | $14.2M | $57.2k | | 5 | +5 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV | 49.3k | $28.4M | $32.1k | | 6 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x1bfd67037b42cf73acf2047067bd4f2c47d9bfd6.png)WBTC | 9.9k | $43.6M | $29.5k | | 7 | \-3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD | 100.8k | $94.8M | $28.5k | | 8 | +5 | ![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/chains/ethereum.png)ETH | 4.0k | $184.7M | $18.1k | | 9 | +7 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH | 1.5k | $186.9M | $18.0k | | 10 | +4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe | 1.5k | $53.6M | $12.7k | ## Top Chains by Fees Arbitrum took the second place in terms of fee generation, but notably Optimism achieved over 100k swaps! | Position | Change | Chain | Swaps | Volume | Fees | | -------- | ------ | ------------------------------------------------------------------------------------------------------------------------------- | ------ | ------- | ------- | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum")**Ethereum** | 52.8k | $1.5B | $378.4k | | 2 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum")**Arbitrum** | 49.9k | $38.4M | $23.9k | | 3 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/hyperliquid.png "Hyperliquid")**Hyperliquid** | 45.8k | $24.1M | $8.0k | | 4 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism")**Optimism** | 103.9k | $9.3M | $2.8k | | 5 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base")**Base** | 24.1k | $5.6M | $2.5k | | 6 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon")**Polygon** | 13.4k | $994.3k | $2.2k | | 7 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal")**Fraxtal** | 73.2k | $7.0M | $2.0k | | 8 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic")**Sonic** | 21.2k | $9.2M | $540 | | 9 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai")**Xdai** | 14.3k | $5.8M | $482 | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Is Now on Telegram URL: https://news.curve.finance/curve-is-now-on-telegram/ Last updated: 2025-07-16T19:54:24.000Z ### **Meet TAC: EVM for the Telegram Era** Curve DEX is now live on [TAC](https://tac.build/), an EVM-compatible network built on top of [TON](https://ton.org/), bringing Curve’s efficient trading infrastructure into Telegram through a wallet-native Mini-App. This makes it easier than ever to access efficient trading and liquidity provisioning directly from mobile, allowing for deeper liquidity, better prices, and a smoother experience through Telegram. Anyone can trade and provide liquidity on Curve using just a Telegram account and a TON-native wallet - no browser extensions, no bridges, and no downloads required. It’s the most mobile-native DeFi experience for Curve to date, and the first time DeFi reaches users where they already are. TAC enters mainnet with strong momentum, having secured over **$700M in TVL** through a pre-mainnet liquidity campaign bootstrapped by [Turtle Club](https://app.turtle.club/campaigns/tac). The initiative was designed to lay the foundation for the financial infrastructure TAC aims to enable inside Telegram. Alongside Curve, the TAC ecosystem is onboarding leading DeFi protocols like Morpho and Euler - helping bring proven EVM-based financial infrastructure into the TON and Telegram ecosystem. Curve’s TAC deployment is accessible via both the [Telegram Mini-App](https://t.me/CurveAppBot) and the [Curve web UI](https://www.curve.finance/dex/tac/pools/). The TAC Foundation is also supporting Curve pools with incentives - so it's worth keeping an eye on activity across the deployment. [Open Curve's Mini-App ](https://t.me/CurveAppBot) [Use Curve on TAC ](https://www.curve.finance/dex/tac/pools/) ### Curve Best Yields & Key Metrics | Week 28, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-28-2025/ Last updated: 2025-07-10T16:56:24.000Z ## Market Overview **Curve’s TVL rose 2.7% to $2.23B** this week, as Ethereum and battle-tested DeFi start to gain some positive momentum, and BTC celebrates a new All Time High! There are some great yields to take advantage of this week, including many for USD, BTC and ETH stablecoin pools. This update highlights those opportunities along with key weekly metrics from across the Curve ecosystem. ## Top Yields ### USD Stablecoins *Note: The jUSD/USDC pool below shows a yield above 36.5%, but this has been adjusted based on the assumption that $100K is staked in its gauge. At the time of writing, only $45K of the $1M in the pool is actually staked.* | Chain | Pool | Market | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x000000096cb3d4007fc2b79b935c4540c5c2d745.png)jUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-447/deposit) | Pool | 36.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x677ddbd918637e5f2c79e164d402454de7da8619.png)VUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-212/deposit) | Pool | 33.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0d86883faf4ffd7aeb116390af37746f45b6f378.png)USD3![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-503/deposit) | Pool | 29.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-485/deposit) | Pool | 26.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://curve.finance/images/default-crypto.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 23.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcf62f905562626cfcdd2261162a51fd02fc9c5b6.png)sfrxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-344/deposit) | Pool | 22.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-391/deposit) | Pool | 17.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x7fff4c4a827c84e32c5e175052834111b2ccd270.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x6047828dc181963ba44974801ff68e538da5eaf9.png)USDT](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-8/deposit) | Pool | 13.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x7fff4c4a827c84e32c5e175052834111b2ccd270.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x29219dd400f2bf60e5a23d13be72b486d4038894.png)USDC](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-7/deposit) | Pool | 13.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x788d96f655735f52c676a133f4dfc53cec614d4a.png)dUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-45/deposit) | Pool | 12.2% | ### Top BTC & ETH Yields | Chain | Pool | Asset | Market | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf1376bcef0f78459c0ed0ba5ddce976f1ddf51f4.png)uniETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-499/deposit) | ETH | Pool | 38.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf1376bcef0f78459c0ed0ba5ddce976f1ddf51f4.png)uniETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-71/deposit) | ETH | Pool | 18.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x004e9c3ef86bc1ca1f0bb5c7662861ee93350568.png)uniBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-494/deposit) | BTC | Pool | 12.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | ETH | Pool | 10.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-353/deposit) | ETH | Pool | 6.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x661c70333aa1850ccdbae82776bb436a0fcfeefb.png)EBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-183/deposit) | BTC | Pool | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6bf340db729d82af1f6443a0ea0d79647b1c3ddf.png)tacBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc96de26018a54d51c097160568752c4e3bd6c364.png)FBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-446/deposit) | BTC | Pool | 3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-69/deposit) | BTC | Pool | 2.0% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD supply declined slightly this week, which is expected given the recent high borrow rates. However, the peg remains strong, and there’s optimism ahead with [Yield Basis](https://yieldbasis.com/) coming soon and [Resupply](https://resupply.fi) stabilizing, and moving forward positively. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Total Supply | $120M | \-3.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Borrowed | $108M | \-8.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $11.7M | +$5.7M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD Yield | 7.2% APY | +1.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD | 45.8% | +3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Peg | $1.0000 | +$0.0002 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 7.0% | \-1.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Loans | 743 | \-11 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Fees | $180k | +21.3% | ### DEX Last week was relatively quiet, so it’s expected to see swap-related metrics down across the board. However, TVL is up on the week, which is a positive signal for the ecosystem. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $2.02B | +3.0% | | 🔄 Volume | $1.02B | \-30.1% | | 🔄 Swaps | 313k | \-21.3% | | 🔄 Total Fees | $202k | \-24.6% | ### Llamalend Lending TVL and supplied assets awaiting borrowers increased this week, while borrowed amounts and collateral saw slight declines. Overall, the market appears to be stabilizing, and an almost 7% increase in the number of loans signals new users are testing the system. | Metric | Value | Change | | -------------- | ------ | ------ | | 🦙 Lending TVL | $110M | +0.9% | | 🦙 Supplied | $90.5M | +0.1% | | 🦙 Borrowed | $63.4M | \-6.5% | | 🦙 Collateral | $82.5M | \-4.1% | | 🦙 Loans | 859 | +55 | ## Top Assets by Fees This week, instead of focusing on the highest-volume assets, we’re highlighting the assets that generated the most fees. These figures represent the total raw fees paid by all swappers, both into and out of each asset, so each swap is effectively double-counted. **USDf** ranks high this week, reflecting strong fee generation, and **CVX** also appears to be in high demand, along with **WETH** dethroning **USDC** for the top spot. | Position | Change | Asset | Swaps | Volume | Fees | | -------- | ------ | ---------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ------- | ------ | | 1 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH | 32.2k | $124.4M | $69.3k | | 2 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC | 88.8k | $446.4M | $59.4k | | 3 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT | 38.3k | $342.4M | $39.1k | | 4 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD | 70.5k | $80.3M | $14.8k | | 5 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x1bfd67037b42cf73acf2047067bd4f2c47d9bfd6.png)WBTC | 6.7k | $24.9M | $13.9k | | 6 | +12 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX | 1.1k | $3.2M | $11.7k | | 7 | +35 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf | 559.0 | $33.7M | $10.0k | | 8 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD | 107.0 | $40.4M | $8.1k | | 9 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x73a15fed60bf67631dc6cd7bc5b6e8da8190acf5.png)USD0 | 783.0 | $24.4M | $8.1k | | 10 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV | 33.5k | $8.7M | $7.6k | ## Top Chains by Fees This week’s top chains are ranked by fees generated from swap pools. Hyperliquid is performing strongly, but the data clearly shows just how dominant Ethereum and Curve on Ethereum really is, nothing else even comes close. | Position | Change | Chain | Swaps | Volume | Fees | | -------- | ------ | ------------------------------------------------------------------------------------------------------------------------------- | ----- | ------- | ------- | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum")**Ethereum** | 46.1k | $949.3M | $188.2k | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/hyperliquid.png "Hyperliquid")**Hyperliquid** | 36.7k | $17.8M | $4.6k | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum")**Arbitrum** | 26.0k | $24.0M | $2.8k | | 4 | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base")**Base** | 20.3k | $8.6M | $2.6k | | 5 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal")**Fraxtal** | 74.9k | $3.1M | $1.7k | | 6 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism")**Optimism** | 60.3k | $4.2M | $902 | | 7 | \-4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon")**Polygon** | 10.8k | $320.7k | $587 | | 8 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic")**Sonic** | 19.4k | $8.4M | $382 | | 9 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fantom.png "Fantom")**Fantom** | 1.2k | $109.4k | $303 | | 10 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai")**Gnosis** | 17.2k | $4.8M | $274 | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Best Yields & Key Metrics | Week 27, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-27-2025/ Last updated: 2025-07-03T17:59:28.000Z ## Market Overview Curve’s TVL increased this week to $2.17B, up 0.7% week over week. With green shoots emerging within crvUSD borrowing, which has stabilized and has risen 2.1% on the week. Borrow rates are also beginning to fall, which is welcome news for borrowers. There are some excellent yield opportunities in USD stablecoin pools this week. See the top options below, or look through the rest of this report for the latest metrics. ## Top Yields ### USD Stablecoins | Chain | Pool | Market | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5c5b196abe0d54485975d1ec29617d42d9198326.png)sdeUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x15700b564ca08d9439c58ca5053166e8317aa138.png)deUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-488/deposit) | Pool | 93.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x000000096cb3d4007fc2b79b935c4540c5c2d745.png)jUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-447/deposit) | Pool | 59.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x677ddbd918637e5f2c79e164d402454de7da8619.png)VUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-212/deposit) | Pool | 45.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://curve.finance/images/default-crypto.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | Pool | 24.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x7fff4c4a827c84e32c5e175052834111b2ccd270.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x6047828dc181963ba44974801ff68e538da5eaf9.png)USDT](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-8/deposit) | Pool | 23.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-485/deposit) | Pool | 23.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x7fff4c4a827c84e32c5e175052834111b2ccd270.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x29219dd400f2bf60e5a23d13be72b486d4038894.png)USDC](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-7/deposit) | Pool | 22.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09fd37d9aa613789c517e76df1c53aece2b60df4.png)ebUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-487/deposit) | Pool | 20.1% | ### Top BTC & ETH Yields | Chain | Pool | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x3d15fd46ce9e551498328b1c83071d9509e2c3a0.png)uniETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-84/deposit) | ETH | 7.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-353/deposit) | ETH | 7.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | ETH | 6.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000006.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-6/deposit) | ETH | 6.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x58ade43a276ddf3e101941571ede398a32492ed7.png)pxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000006.png)frxETH](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-32/deposit) | ETH | 5.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6bf340db729d82af1f6443a0ea0d79647b1c3ddf.png)tacBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc96de26018a54d51c097160568752c4e3bd6c364.png)FBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-446/deposit) | BTC | 4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x661c70333aa1850ccdbae82776bb436a0fcfeefb.png)EBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-183/deposit) | BTC | 4.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-69/deposit) | BTC | 1.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC](https://curve.finance/dex/#/optimism/pools/factory-v2-63/deposit) | BTC | 1.6% | ## Weekly Metrics ### crvUSD & scrvUSD crvUSD supply has stabilized and begun to grow again this week, supported by rising scrvUSD interest rates and declining borrow rates. The crvUSD peg remains strong, holding close to $1. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Total Supply | $118M | +1.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Borrowed | $112M | +2.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $6.0M | \-$309k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD Yield | 6.2% APY | +1.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD | 42.4% | \-0.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Price | $0.9998 | \-$0.0003 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 8.3% | \-3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Loans | 754 | +8 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Fees | $167k | +0.3% | ### DEX The average swap size increased this week, with total volume up but fewer individual swaps. TVL also rose over the week. | Metric | Value | Change | | -------------- | ------ | ------- | | 🔄 TVL | $1.96B | +7.3% | | 🔄 Volume | $1.46B | +15.6% | | 🔄 Swaps | 398k | \-27.4% | | 🔄 DAO Revenue | $142k | \-13.1% | ### Llamalend Llamalend is still stabilizing following the recent Resupply hack. Volatility is expected after a major event, but Llamalend remains secure and continues to offer competitive borrowing rates across a range of assets. | Metric | Value | Change | | -------------- | ------ | ------- | | 🦙 Lending TVL | $109M | \-7.2% | | 🦙 Supplied | $90.4M | \-8.1% | | 🦙 Borrowed | $67.8M | \-10.7% | | 🦙 Collateral | $85.9M | \-9.0% | | 🦙 Loans | 868 | +64 | ### Highest Volume Assets Following recent optimizations for stETH pools, volume has increased significantly for both stETH and ETH. It’s also great to see growing demand for crvUSD and scrvUSD, with crvUSD ranked as the third most-traded asset by volume this week. | Position | Change | Asset | Swaps | Volume | | -------- | ------ | ----------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC | 86.9k | $622M | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT | 48.9k | $456M | | 3 | +3 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD | 78.1k | $166M | | 4 | +15 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH | 699 | $159M | | 5 | +12 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png)ETH | 1.54k | $157M | | 6 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH | 35.9k | $134M | | 7 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS | 1.52k | $112M | | 8 | +17 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD | 1.71k | $104M | | 9 | \-4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe | 31.9k | $95.8M | | 10 | 0 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD | 167.0 | $88.6M | ### Highest Volume Chains Arbitrum saw a surge in activity this week, unsurprising after the major announcement involving Robinhood. | Position | Change | Chain | Name | Swaps | Volume | | -------- | ------ | ---------------------------------------------------------------------------------------------------------------- | ----------- | ----- | ------ | | 1 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | Ethereum | 53.3k | $1.44B | | 2 | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | Polygon | 39.8k | $28.1M | | 3 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | Arbitrum | 32.4k | $19.3M | | 4 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/hyperliquid.png "Hyperliquid") | Hyperliquid | 101k | $16.3M | | 5 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | Sonic | 23.7k | $7.7M | | 6 | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | Optimism | 64.4k | $5.3M | | 7 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | Fraxtal | 56.9k | $3.9M | | 8 | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | Base | 15.8k | 3.6M | | 9 | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | Gnosis | 9.4k | 3.1M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Monthly Recap June, 2025 URL: https://news.curve.finance/curve-monthly-recap-june-2025/ Last updated: 2025-07-02T18:12:56.000Z ## Key Highlights of June: - Focus on Pool Parameter Optimizations - DAO Treasury Voted In - New [Llamalend](https://www.curve.finance/llamalend/ethereum/markets/) UI Rolling Out - Curve @ ETH Belgrade: From Curve Block Oracle to Yield Basis - Resupply Exploit --- ## Pool Parameter Optimizations Throughout the month of June, numerous pool parameter changes were proposed and implemented with the goal of making Curve liquidity pools more efficient and increasing DAO revenue. Most notably, adjustments were made to the **stETH-ng** pool, which holds over $30 million in TVL. Despite its size, the pool consistently experienced low trading volume due to a high fee structure. After reducing the fee from **0.04% to 0.008%**, the pool not only saw a significant uptick in volume, but also began generating around **$500 per day** in revenue for the DAO. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/07/Screenshot-2025-07-01-at-10.22.26.png) Another great example is the parameter optimization for the **RLUSD/USDC** pool (a stablecoin issued by Ripple). In this case, the key driver of adoption wasn't a fee adjustment, but rather an increase in the pool’s `A` **parameter**, which deepens liquidity and improves trading efficiency. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/07/Screenshot-2025-07-01-at-10.28.16.png) These are just two of many examples, but a clear trend is emerging: **ongoing and focused parameter optimization** (with a special thanks to [**Philipp**](https://x.com/phil%5F00Llama)) is playing a crucial role in **improving pool efficiency and boosting DAO revenue**. These optimizations are based on millions of simulated trades to determine the most effective parameters. If you're interested in the simulation methodology, be sure to check out the [governance forum](https://gov.curve.finance/), where all results are published and discussed before being put to an on-chain vote. --- ## New DAO Treasury Voted In On June 27, 2025, the Curve DAO [voted](https://www.curve.finance/dao/ethereum/proposals/1123-ownership/) to establish a dedicated Treasury, allocating it **10% of all DAO revenue**. These **funds belong to the DAO and remain entirely under its control**. With a successful governance vote, they can be used for any purpose the DAO chooses, such as development, research, risk assessment, bad debt insurance, bug bounties, audits, or anything else the DAO deems appropriate. Check the governance forum post [here](https://gov.curve.finance/t/activate-the-fee-allocator-and-redirect-10-of-revenue-to-community-fund/10676). In comparison to the community fund, these new Treasury assets do not require a one-year vesting period, which makes the usage of these funds much more convenient. --- ## Llamalend UI While the frontend developers are busy overhauling the entire [Llamalend](https://www.curve.finance/llamalend/ethereum/markets/) UI, a first progressive rollout took place at the end of June. Mint and Lend markets are now merged into a single page with granular filtering options for chains, collateral tokens, and much more. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/07/Screenshot-2025-07-01-at-11.39.41.png) While this is not the final version and the page will continue to undergo improvements, please go ahead and test it out yourself. Your feedback is invaluable to us! Check out the new Llamalend UI below: [Go to Llamalend ](https://www.curve.finance/llamalend/ethereum/markets/) --- ## Curve @ ETH Belgrade On June 4, 2025, Curve Finance hosted its first-ever **BEL‑CRV Ecosystem Day** during Belgrade Blockchain Week, alongside the ETH Belgrade conference. The builder‑focused event brought together over 150 developers, researchers, and DeFi users for a full day of panels and keynotes on cross-chain infrastructure, yield-bearing stablecoins, governance, and more. ### Curve Block Oracle At ETH Belgrade, Curve developer Roman Agureev presented a **modular, open-source framework for secure multichain messaging**. The system is built using **storage proofs and bridge-agnostic transport**, and is already **live across more than 20 networks**. Curve is initially using the framework to safely transfer token prices like the one for scrvUSD to other chains, but the potential use cases extend far beyond that. [Curve Block OracleCurve’s Roman Agureev presents a modular, open-source framework for secure multichain messaging—built with storage proofs, bridge-agnostic transport, and already live across 20+ networks. It’s now available to any team building cross-chain infrastructure.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-24.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/New-Basepool--3-.png)](https://news.curve.finance/curve-block-oracle/) There is also a live view of the Curve Block Oracle, available below. [Curve Block Oracle Live View ](https://curvefi.github.io/blockhash-oracle/) > **Questions about Curve Block Oracle?** Ping Roman or Michael K on Telegram, or open a [GitHub issue](https://github.com/curvefi/blockhash-oracle). ### Yield Basis Curve founder Michael Egorov also introduced [Yield Basis](https://x.com/yieldbasis), a protocol designed to eliminate impermanent loss (IL) and provide sustainable yield for tokenized BTC and other large assets. Yield Basis is built on top of Curve’s infrastructure, leveraging Cryptoswap, crvUSD and its lending architecture all at once. [Yield Basis: How to Solve Impermanent LossCurve Founder Michael Egorov presents Yield Basis at BEL-CRV: a breakthrough protocol designed to eliminate impermanent loss, long seen as a fundamental trade-off in AMMs.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-25.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/New-Basepool--1-.png)](https://news.curve.finance/yield-basis-how-to-solve-impermanent-loss/) ## Resupply Exploit On June 26th, [Resupply](https://resupply.fi) — a protocol built on top of Curve that has driven significant demand for crvUSD in recent weeks and months — experienced a security vulnerability in a newly added market, creating bad debt in the protocol. A large portion of the bad debt has already been covered by the Resupply and Convex treasuries, as well as personal funds by one of the core devs, C2tP. The team has outlined a [clear path forward](https://gov.resupply.fi/t/resupply-recovery-plan/47). > We have published our post-mortem on the exploit in the wstUSR market as well as the recovery plan. Please use the links below. > Post-mortem: > > Recovery Plan: > > — Resupply (@ResupplyFi) [June 28, 2025](https://twitter.com/ResupplyFi/status/1938927974272938420?ref%5Fsrc=twsrc%5Etfw) This recent incident also sparked a broader discussion around how to manage protocols building on top of Curve, such as whether there should be a dedicated auditing team for protocols built on top of Curve. > Most important part. Do you think that a special Curve-specific team for auditing projects built on top of [@CurveFinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw) is a good idea? Please comment! > > — Michael Egorov (@newmichwill) [June 29, 2025](https://twitter.com/newmichwill/status/1939242859024228785?ref%5Fsrc=twsrc%5Etfw) --- From parameter tuning to new infrastructure and protocol launches, June brought a lot of movement across the Curve ecosystem. These updates continue to push toward better capital efficiency and strengthen Curve’s position as the settlement layer for stablecoins and on-chain liquidity. *Sign up below to get all the monthly recaps, weekly yields and other breaking news stories straight into your inbox.* ## Sign up for Curve News The latest news about Curve and its ecosystem Subscribe Email sent! Check your inbox to complete your signup. No spam. Unsubscribe anytime. ### Curve Best Yields & Key Metrics | Week 26, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-26-2025/ Last updated: 2025-06-26T15:31:24.000Z ## Market Overview It's been a tough day for the Curve ecosystem, with [Resupply](https://resupply.fi/) falling victim to a hack, because of this the TVL for Llamalend is down sharply and total TVL for Curve is down about 5.9% to $2.15B. **Curve products remain safe, no Curve product is affected by the hack.** Despite the incident, there are still excellent yield opportunities this week. As users redeem from Resupply-linked markets, there are some high crvUSD yields available. Take advantage while they last, or explore other options across the ecosystem alongside this week’s key metrics. ## Top Yields ### Top USD Stablecoin Yields | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/lend/#/ethereum/markets/one-way-market-14/vault/deposit) | Llamalend | 30.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7c1156e515aa1a2e851674120074968c905aaf37.png)lvlUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-278/deposit) | Pool | 29.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-336/deposit) | Pool | 27.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://cdn.jsdelivr.net/gh/curvefi/curve-assets/images/assets/0x9d39a5de30e57443bff2a8307a4256c8797a3497.png)sUSDe](https://www.curve.finance/lend/ethereum/markets/one-way-market-11/vault/deposit) | Llamalend | 26.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS](https://curve.finance/lend/#/ethereum/markets/one-way-market-32/vault/deposit) | Llamalend | 23.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7f39c581f595b53c5cb19bd0b3f8da6c935e2ca0.png)wstETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-13/vault/deposit) | Llamalend | 22.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/lend/#/ethereum/markets/one-way-market-1/vault/deposit) | Llamalend | 20.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x85e30b8b263bc64d94b827ed450f2edfee8579da.png)USDaf![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-463/deposit) | Pool | 19.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/lend/#/ethereum/markets/one-way-market-31/vault/deposit) | Llamalend | 18.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x09fd37d9aa613789c517e76df1c53aece2b60df4.png)ebUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-487/deposit) | Pool | 17.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xd3dce716f3ef535c5ff8d041c1a41c3bd89b97ae.png)scUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-25/deposit) | Pool | 13.7% | ### Top Major Asset Yields | Chain | Pool | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | ETH | 35.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x3bce5cb273f0f148010bbea2470e7b5df84c7812.png)scETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x43edd7f3831b08fe70b7555ddd373c8bf65a9050.png)frxETH](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-26/deposit) | ETH | 11.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 6.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6bf340db729d82af1f6443a0ea0d79647b1c3ddf.png)tacBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc96de26018a54d51c097160568752c4e3bd6c364.png)FBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-446/deposit) | BTC | 5.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x661c70333aa1850ccdbae82776bb436a0fcfeefb.png)EBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-183/deposit) | BTC | 4.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-69/deposit) | BTC | 1.7% | ### Other Asset Top Yields | Chain | Pool | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x172370d5cd63279efa6d502dab29171933a610af.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/polygon/pools/factory-tricrypto-6/deposit) | CRV | 19.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x11cdb42b0eb46d95f990bedd4695a6e3fa034978.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/arbitrum/pools/factory-tricrypto-27/deposit) | CRV | 18.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 10.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 3.0% | ## Ecosystem Metrics *All changes (shown with + or -) represent the difference compared to values from one week ago.* ### crvUSD & scrvUSD Metrics With the Resupply hack the crvUSD total supply has dropped sharply. However, part of the drop does come from a reduction in peg stability reserves. Once again the peg has held strong, and all the systems are working perfectly through this unfortunate event. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | ------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Total Supply | $116M | \-18.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Borrowed | $110M | \-16.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $6.3M | \-$4.8M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD Yield | 5.1% APY | \-3.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD | 43.0% | +7.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Peg | $1.0001 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 11.7% | +4.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Loans | 746 | \-7 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Fees | $167k | +0.3% | ### Pool Metrics Pools TVL and swap numbers and fees are holding strong, even as volume has declined slightly. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.83B | \-4.3% | | 🔄 Volume | $1.26B | \-18.8% | | 🔄 Swaps | 548k | \-1.0% | | 🔄 Total Fees | $315k | \-5.8% | ### Llamalend Metrics While the decline is unfortunate, it’s reassuring to see that all systems functioned exactly as intended and held up well throughout the downturn. | Metric | Value | Change | | -------------- | ------ | ------- | | 🦙 Lending TVL | $117M | \-31.7% | | 🦙 Supplied | $98.4M | \-33.5% | | 🦙 Borrowed | $75.9M | \-26.4% | | 🦙 Loans | 804 | \-132 | ## Notable Pool Activity ### Highest Volume Pools Great to see 2 new pools in this list, notably the cUSD0 pool, and Polygon's pool. | Chain | Pool | Volume | TVL | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $236M | $178M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $104M | $4.8M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-335/deposit) | $74.8M | $49.9M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $45.2M | $50.6M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x27f8d03b3a2196956ed754badc28d73be8830a6e.png)amDAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x1a13f4ca1d028320a707d99520abfefca3998b7f.png)amUSDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x60d55f02a771d515e077c9c2403a1ef324885cec.png)amUSDT](https://curve.finance/dex/#/polygon/pools/aave/deposit) | $41.9M | $3.9M | ### Highest Volume Assets It’s always interesting to watch how demand for assets shifts week to week. This time, cUSD0 entered the top 10, jumping 12 spots from last week. FRAX also climbed 11 positions, and crvUSD moved up two spots to reach the top six. | Position | Change | Asset | Trades | Volume | | -------- | ------ | ---------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | 1. | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC | $111k | $579M | | 2. | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT | 67.6k | $473M | | 3. | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png)ETH | 40.7k | $177M | | 4. | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI | 23.8k | $157M | | 5. | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe | 35.9k | $93.2M | | 6. | +2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD | 92.9k | $83.9M | | 7. | +12 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO | 1.1k | $75.9M | | 8. | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS | 1.1k | $63.8M | | 9. | +11 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX | 2.6k | $40.2M | | 10. | \-4 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD | 141 | $39.5M | ### Highest Volume Chains Just a few shifts among the lower-volume chains this week, all the top chains remained the same. | Position | Change | Chain | Name | Swaps | Volume | | -------- | ------ | ---------------------------------------------------------------------------------------------------------------- | ----------- | ----- | ------ | | 1. | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | Ethereum | 56.0k | $1.12B | | 2. | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | Polygon | 67.1k | $58.5M | | 3. | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/hyperliquid.png "Hyperliquid") | Hyperliquid | 149k | $27.0M | | 4. | \- | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | Arbitrum | 38.9k | $20.9M | | 5. | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | Sonic | 29.9k | $9.9M | | 6. | \-1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | Optimism | 77.5 | $6.7M | | 7. | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | Fraxtal | 99.7k | $4.9M | | 8. | +1 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Xdai") | Gnosis | 9.5k | 3.2M | | 9. | \-2 | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | Base | 18.3k | 3.3M | ### High Growth Pools All the following pools had more than a 10x TVL increase just in the past 7 days! | Chain | Pool | TVL | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-402/deposit) | $30.7M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://curve.finance/images/default-crypto.png)xfrxUSD![](https://curve.finance/images/default-crypto.png)sfrxUSD\_fr](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-104/deposit) | $763k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe72b141df173b999ae7c1adcbf60cc9833ce56a8.png)ETH+![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-482/deposit) | $477k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://curve.finance/images/default-crypto.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-466/deposit) | $420k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://curve.finance/images/default-crypto.png)alUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-172/deposit) | $278k | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Block Oracle URL: https://news.curve.finance/curve-block-oracle/ Last updated: 2025-06-23T16:06:23.000Z ### Why Multichain Messaging Is Still Tough Curve’s core contracts and DAO live on Ethereum, yet the protocol is deployed on 20+ networks. Each chain wants governance messages, oracle prices, and config changes in real time, but bridges remain inconsistent and occasionally dangerous. Native bridges (e.g. with Optimism and Arbitrum) are low-risk but chain-specific; generic layers (LayerZero, CCIP) cover many networks but add protocol risk. Protocols that are deployed on multiple networks want to minimize the work put into the bridging solutions they use, but also don’t want a single point of failure that could drain TVL or freeze the protocol. To address this, Curve has developed an open-source solution that offers a modular, fault-tolerant alternative - using storage proofs and minimal trust in the transport layer. ### Storage Proofs: The Minimal-Trust Backbone ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/06/nedladdning-1.png) The core process for verifying data is straightforward. Curve’s system minimizes trust by relying on a basic but robust flow: 1. **Transport only the blockhash** using a native bridge or LayerZero. 2. **Keepers/users submit Merkle-Patricia-Trie storage proofs** on the destination chain to retrieve the exact storage slot. 3. **Apps consume the verified data** (governance actions, crvUSD price, etc.) with no dependency on a single bridge. ### Curve Block Oracle: Design Choices The Curve Block Oracle system is designed to be lightweight, modular, and easy to integrate. Below are key architectural choices that shape its design and functionality: - **Bridge strategy:** - Native bridge where available (cheapest, zero extra trust) - LayerZero today for L1s and fresh Curve DEX deployments - Support for more bridging protocols like Axelar and CCIP possible through third-party DVN like CrossCurve - **Language choice:** Vyper, to stay consistent with Curve contracts. As Vyper lacked support for dynamic arrays at the time, the storage-proof verifier was ported from a large Solidity library and rewritten in Vyper to ensure auditability. ### Using the Curve Block Oracle The Curve Block Oracle is designed to be simple to adopt. Whether you're building a governance module, oracle-dependent app, or a full DeFi system across chains, the integration flow is lightweight and transport-agnostic: - **Get the verifier code** – The core repos are [blockhash-oracle](https://github.com/curvefi/blockhash-oracle) (for blockhash transport) and [storage-proofs](https://github.com/curvefi/storage-proofs) (for verifying state). The storage-proofs repo has been audited through a public [Cyfrin CodeHawks contest](https://codehawks.cyfrin.io/c/2025-03-curve/results?lt=contest&page=1&sc=reward&sj=reward&t=report); a formal ChainSecurity audit for the blockhash-oracle will be linked once finalized. - **Choose a transport layer** – Use a native bridge where possible for lowest trust assumptions. Where a native bridge isn’t available or supported, LayerZero is the default fallback. - **Send the blockhash, verify the proof** – Submit the blockhash via your transport layer and the Merkle-Patricia-Trie storage proof to retrieve state from Ethereum. - **Optionally reuse Curve’s Oracle stack** – For protocols already interacting with Curve, you can consume verified state updates (like crvUSD price) with no added trust assumptions. ### What’s Next The verifier is live across Curve’s existing multichain deployments and will continue rolling out with new Curve DEX integrations. We welcome other teams to adopt or build on the system. The audit by ChainSecurity will be linked when available. --- ### Vulnerability Disclosure While porting a widely used Solidity Merkle proof verification library to Vyper, we discovered a critical vulnerability: it failed to properly check that each node in the proof path was present, allowing false zero values to pass as valid. The bug affected protocols such as Aave, Frax, and StakeDAO. We worked with ChainSecurity to coordinate a responsible disclosure and ensure the issue was patched across the ecosystem. For more detail, see [Roman Agureev’s technical write-up](https://hackmd.io/@agureevroman/Sk9gl-zVll) and [ChainSecurity’s postmortem](https://www.chainsecurity.com/blog/when-empty-means-valid-exploiting-mpt-proof-verification-for-an-alternative-truth). ### Resources - **Repos:** - [curvefi/storage-proofs](https://github.com/curvefi/storage-proofs) - [curvefi/blockhash-oracle](https://github.com/curvefi/blockhash-oracle) - **Presentation slides:** - [Curve Block Oracle (PDF)](https://github.com/curvefi/storage-proofs/blob/main/docs/Curve%20Block%20Oracle.pdf) - **Audits:** - [Storage Proofs – Cyfrin CodeHawks contest results](https://codehawks.cyfrin.io/c/2025-03-curve/results?lt=contest&page=1&sc=reward&sj=reward&t=report) - Blockhash Oracle – audit link will be added once available - **Questions?** Ping Roman or Michael K on Telegram, or open a GitHub issue. ### Yield Basis: How to Solve Impermanent Loss URL: https://news.curve.finance/yield-basis-how-to-solve-impermanent-loss/ Last updated: 2025-06-20T14:02:54.000Z ### Yield Basis: How to Solve Impermanent Loss ### **Why Impermanent Loss Still Matters** Impermanent loss occurs when the value of your assets in a liquidity pool underperforms simply holding them, especially during price swings. This occurs when the liquidity pool rebalances to reflect the new price, changing your exposure to the underlying assets. [Yield Basis](https://x.com/yieldbasis) changes that by using compounding leverage to align LP performance directly with the underlying asset's price, effectively letting liquidity providers behave more like directional traders while still earning yield. This results in a more capital-efficient and higher-yielding way to provide liquidity, without having to worry about price changes affecting your returns. ### **Implications for Curve and the Future of DeFi** For Curve, Yield Basis reinforces the protocol’s role as the most advanced engine for onchain liquidity. By enabling LPs to participate in impermanent-loss-free strategies, it opens the door for a new wave of capital to provide liquidity capital that may have previously sat on the sidelines. For users, Yield Basis offers a new way to earn yield while maintaining price exposure, combining the benefits of holding assets with additional fee revenue from trading. It introduces a compelling new way to "stake" your volatile assets, perfect for long-term holders. ### Curve Best Yields & Key Metrics | Week 25, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-25-2025/ Last updated: 2025-06-19T17:52:07.000Z ## Market Overview [Curve](https://curve.finance)’s total TVL declined to slightly to $2.29B this week, down 4.9% and in line with broader market conditions. However, activity on Layer 2s is gaining momentum. Curve’s Hyperliquid deployment recorded more swaps than any other chain, with 121,000 swaps this week, averaging one every five seconds. In total, L2s accounted for nearly 90% of all swaps on Curve. As always, Curve continues to offer some of the best yield opportunities in DeFi. This update highlights the most compelling options across the Curve ecosystem. ## Top Yields ### Top USD Stablecoin Yields This week brings strong opportunities for crvUSD yield, particularly in [Llamalend markets on Sonic](https://www.curve.finance/lend/sonic/markets/). | Chain | Market | Type | Yield | | -------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xd3dce716f3ef535c5ff8d041c1a41c3bd89b97ae.png)scUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-25/deposit) | Pool | 34.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x6e58089d8e8f664823d26454f49a5a0f2ff697fe.png)SQUID](https://curve.finance/lend/#/fraxtal/markets/one-way-market-4/vault/deposit) | Llamalend | 24.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x7fff4c4a827c84e32c5e175052834111b2ccd270.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x039e2fb66102314ce7b64ce5ce3e5183bc94ad38.png)wS](https://curve.finance/lend/#/sonic/markets/one-way-market-0/vault/deposit) | Llamalend | 23.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x7fff4c4a827c84e32c5e175052834111b2ccd270.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x9f0df7799f6fdad409300080cff680f5a23df4b1.png)wOS](https://curve.finance/lend/#/sonic/markets/one-way-market-2/vault/deposit) | Llamalend | 22.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x7fff4c4a827c84e32c5e175052834111b2ccd270.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xe5da20f15420ad15de0fa650600afc998bbe3955.png)stS](https://curve.finance/lend/#/sonic/markets/one-way-market-1/vault/deposit) | Llamalend | 22.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x7fff4c4a827c84e32c5e175052834111b2ccd270.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x3bce5cb273f0f148010bbea2470e7b5df84c7812.png)scETH](https://curve.finance/lend/#/sonic/markets/one-way-market-3/vault/deposit) | Llamalend | 22.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x7fff4c4a827c84e32c5e175052834111b2ccd270.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xd3dce716f3ef535c5ff8d041c1a41c3bd89b97ae.png)scUSD](https://curve.finance/lend/#/sonic/markets/one-way-market-4/vault/deposit) | Llamalend | 21.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x788d96f655735f52c676a133f4dfc53cec614d4a.png)dUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-48/deposit) | Pool | 15.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x788d96f655735f52c676a133f4dfc53cec614d4a.png)dUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-45/deposit) | Pool | 14.4% | ### Top Major Asset Yields | Chain | Pool | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x3bce5cb273f0f148010bbea2470e7b5df84c7812.png)scETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x43edd7f3831b08fe70b7555ddd373c8bf65a9050.png)frxETH](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-26/deposit) | ETH | 30.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7fa768e035f956c41d6aeaa3bd857e7e5141cad5.png)InstETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-131/deposit) | ETH | 17.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-353/deposit) | ETH | 8.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6bf340db729d82af1f6443a0ea0d79647b1c3ddf.png)tacBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc96de26018a54d51c097160568752c4e3bd6c364.png)FBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-446/deposit) | BTC | 4.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x661c70333aa1850ccdbae82776bb436a0fcfeefb.png)EBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-183/deposit) | BTC | 4.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-69/deposit) | BTC | 2.6% | ### Other Asset Top Yields | Chain | Pool | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x8ee73c484a26e0a5df2ee2a4960b789967dd0415.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x417ac0e078398c154edfadd9ef675d30be60af93.png)crvUSD](https://curve.finance/dex/#/base/pools/factory-crypto-4/deposit) | CRV | 27.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x172370d5cd63279efa6d502dab29171933a610af.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/polygon/pools/factory-tricrypto-6/deposit) | CRV | 21.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 12.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 3.6% | ## Ecosystem Metrics *All changes (shown with + or -) represent the difference compared to values from one week ago.* ### crvUSD & scrvUSD Metrics The amount of crvUSD borrowed declined this week, which is expected as borrowing rates rise. Meanwhile, the share of crvUSD staked in the Savings Vault (scrvUSD) continued to increase, as users took advantage of the attractive yield. As always, the peg remains firm. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Total Supply | $131M | \-0.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Borrowed | $120M | \-4.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $11.1M | +$4.8M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD Yield | 8.4% APY | +3.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD | 36.0% | +1.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Peg | $1.0001 | +$0.0002 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 7.7% | \-1.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Loans | 753 | \-13 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Fees | $167k | +0.3% | ### Pool Metrics Pools have been printing this week, with all metrics significantly higher apart from TVL, which is to be expected with the recent market performance. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $1.91B | \-2.9% | | 🔄 Volume | $1.55B | +8.4% | | 🔄 Swaps | 554k | +17.6% | | 🔄 Total Fees | $334k | +12.6% | ### Llamalend Metrics Llamalend remains steady this week, with borrowing down alongside crvUSD. But thanks to [Resupply](https://resupply.fi), borrowers can still earn while borrowing. It's one of the most attractive places to get loans in DeFi right now. | Metric | Value | Change | | -------------- | ----- | ------ | | 🦙 Lending TVL | $171M | \-3.5% | | 🦙 Supplied | $148M | \-1.8% | | 🦙 Borrowed | $103M | \-4.0% | | 🦙 Loans | 936 | +1 | ## Notable Pool Activity ### Chain Activity Below is a brief overview Curve's chain activity. The majority of the volume still happens on Ethereum, but almost 90% of the swaps are now happening on other networks. It's also huge to see Hyperliquid in 3rd place for volume after only being fully deployed in the recent weeks. | Chain | Name | Swaps | Volume | | ---------------------------------------------------------------------------------------------------------------- | ----------- | ----- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | Ethereum | 61.4k | $1.42B | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | Polygon | 54.4k | $49.2M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/hyperliquid.png "Hyperliquid") | Hyperliquid | 121k | $30.1M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | Arbitrum | 45.8k | $25.4M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | Optimism | 101k | $10.4M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | Sonic | 26.6k | $6.1M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | Base | 31.4k | $5.9M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | Fraxtal | 103k | $4.4M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/xdai.png "Gnosis") | Gnosis | 8.5k | $3.2M | ### Highest Volume Assets Below are the top 10 assets in terms of volume for Curve for this week. It's great to see both crvUSD and scrvUSD both in the top 10, and shows the demand that is increasing for these assets. | Asset | Trades | Volume | | ----------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC | 122k | $734M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT | 78.9k | $644M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png)ETH | 48.6k | $158M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI | 32.6k | $133M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe | 36.5k | $123M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD | 198 | $96.6M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS | 1.3k | $95.7M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD | 112k | $93.5M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD | 1.1k | $71.9M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD | 561 | $60.4M | ### Highest Volume Pools It’s notable to see the reUSD/scrvUSD pool among the top volume pools this week, reflecting the strong demand [Resupply](https://resupply.fi) has driven for these assets. | Chain | Pool | Volume | TVL | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $313M | $180M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $129M | $6.3M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $96.5M | $52.9M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $64.6M | $50.7M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-392/deposit) | $59.0M | $94.5M | ### Recently Launched Pools Seven pools were launched recently, adding around $6M TVL for [Curve](https://www.curve.finance/dex/ethereum/pools/), with [Napier Finance](https://napier.finance/) continuing to build with Curve's pools. | Chain | Pool | TVL | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xad55aebc9b8c03fc43cd9f62260391c13c23e7c0.png)cUSDO![](https://curve.finance/images/default-crypto.png)PT-cUSDO@19/11/2025](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-208/deposit) | $2.66M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xe2fc85bfb48c4cf147921fbe110cf92ef9f26f94.png)xUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x19ebd191f7a24ece672ba13a302212b5ef7f35cb.png)yUSD](https://curve.finance/dex/#/ethereum/pools/factory-twocrypto-192/deposit) | $2.42M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-475/deposit) | $424k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://curve.finance/images/default-crypto.png)StUSDV](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-454/deposit) | $58k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH![](https://curve.finance/images/default-crypto.png)ETH0](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-489/deposit) | $33k | ### Highest Fee Generating Pools Once again, two of the Tricrypto pools ranked in the top five this week. Pools on Hyperliquid are also starting to print fees, with the PURR/WHYPE pool making the top five for fees despite just $6.6M in volume. | Chain | Pool | Fees | Volume | | ---------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $31k | $21.7M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $25k | $313M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/hyperliquid.png "Hyperliquid") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0x9b498c3c8a0b8cd8ba1d9851d40d186f1872b44e.png)PURR![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0x5555555555555555555555555555555555555555.png)WHYPE](https://curve.finance/dex/#/hyperliquid/pools/factory-twocrypto-2/deposit) | $19k | $6.5M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x73a15fed60bf67631dc6cd7bc5b6e8da8190acf5.png)USD0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x35d8949372d46b7a3d5a56006ae77b215fc69bc0.png)USD0++](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-189/deposit) | $18k | $43.6M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $15k | $30.3M | --- ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Finance Takes Over Belgrade with Ecosystem Day During Blockchain Week URL: https://news.curve.finance/curve-finance-takes-over-belgrade-with-ecosystem-day-during-blockchain-week/ Last updated: 2025-06-16T14:00:26.000Z On June 4, 2025, [Curve Finance](https://www.curve.finance/dex/) hosted its first-ever [BEL-CRV Ecosystem Day](https://blocklive.io/bel-crv) in Belgrade, Serbia — right in the middle of Belgrade Blockchain Week and alongside ETH Belgrade. While others talked about the future of DeFi, Curve brought it to life. The day-long event pulled in developers, researchers, and DeFi power users for live discussions around everything that matters in 2025: cross-chain infrastructure, yield-bearing stablecoins, decentralized governance, UX, and the liquidity layer of the internet. ## Why This Event Mattered This wasn’t a branded side-event or a casual meetup - it was a focused, builder-first gathering for the people actually shipping in DeFi. Curve Founder Michael Egorov headlined the event, sharing insights on Yield Basis - a decentralized protocol aiming to provide sustainable yield for holders of tokenized Bitcoin and Ether by using spot leverage within the protocol to mitigate impermanent loss in AMMs. Panels and talks featured contributors from Aragon, Liquity, Status, Tenderly, DeFi Saver, and others, diving into real-world problems like governance models, veTokenomics, L2 liquidity routing, and simplifying DeFi for everyday users. ## A Builder-First Format, Packed with Alpha Attendees cycled through panels, keynotes, and networking sessions, with up to 50 attendees per session and over 150 unique visitors throughout a full day of non-stop conversation. The format was clear: open dialogue, no fluff, no marketing pitches - just builders talking to builders. "*BEL-CRV was about connecting the dots between different layers of the DeFi stack - governance, UX, stablecoins, and liquidity infrastructure,*" said a Curve team member. “*It’s the kind of event that keeps DeFi grounded in real innovation.*” ## Next Up Join us at **StableSummit III: Cannes**, taking place on **June 27–28, 2025**, just ahead of EthCC. The event convenes leading voices in stablecoins—from protocol developers and researchers to policymakers - to explore how stablecoins can scale decentralized finance, address key challenges, and push the space forward. The Curve team will be on-site throughout the summit - if you're building in this space or working on stablecoin integrations, come say hi. Learn more at [stablesummit.xyz](https://www.stablesummit.xyz/). ### Curve Best Yields & Key Metrics | Week 24, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-24-2025/ Last updated: 2025-06-12T14:23:27.000Z ## Market Overview It's been another great week for [Curve](https://www.curve.finance/dex/), with **TVL increasing 2.8% to $2.41B**, despite market volatility. Curve also celebrated a [full deployment on Hyperliquid](https://news.curve.finance/curve-live-on-hyperliquid/), and a [Curve-lite deployment on XDC Network](https://news.curve.finance/curve-now-live-on-xdc-network/) just this week! As always there are some fantastic yields available, and this weekly update highlights some of most compelling opportunities and metrics from across the Curve ecosystem. ## Top Yields ### Top USD Stablecoin Yields | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x15700b564ca08d9439c58ca5053166e8317aa138.png)deUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-207/deposit) | Pool | 49.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x85e30b8b263bc64d94b827ed450f2edfee8579da.png)USDaf![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-463/deposit) | Pool | 18.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x7a10f506e4c7658e6ad15fdf0443d450b7fa80d7.png)EYWA](https://curve.finance/lend/#/arbitrum/markets/one-way-market-21/vault/deposit) | Llamalend | 14.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x6e58089d8e8f664823d26454f49a5a0f2ff697fe.png)SQUID](https://curve.finance/lend/#/fraxtal/markets/one-way-market-4/vault/deposit) | Llamalend | 14.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 12.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x289f635106d5b822a505b39ac237a0ae9189335b.png)scrvUSD](https://curve.finance/dex/#/optimism/pools/factory-stable-ng-63/deposit) | Pool | 12.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x699e04f98de2fc395a7dcbf36b48ec837a976490.png)tacUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-445/deposit) | Pool | 12.4% | ### Top Major Asset Yields The 37% yield on ETH stablecoins is impressive, but BTC holders also have strong opportunities this week. The [LBTC/WBTC pool](https://www.curve.finance/dex/ethereum/pools/factory-stable-ng-251/deposit/) is offering an 8.8% organic trading yield, plus additional points. | Chain | Pool | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5e8422345238f34275888049021821e8e08caa1f.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-353/deposit) | ETH | 37.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7fa768e035f956c41d6aeaa3bd857e7e5141cad5.png)InstETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-131/deposit) | ETH | 17.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8236a87084f8b84306f72007f36f2618a5634494.png)LBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-251/deposit) | BTC | 8.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x294eecec65a0142e84aedfd8eb2fbea8c9a9fbad.png)tacETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-428/deposit) | ETH | 7.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6bf340db729d82af1f6443a0ea0d79647b1c3ddf.png)tacBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc96de26018a54d51c097160568752c4e3bd6c364.png)FBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-446/deposit) | BTC | 5.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x661c70333aa1850ccdbae82776bb436a0fcfeefb.png)EBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-183/deposit) | BTC | 3.3% | ### Other Asset Top Yields | Chain | Pool | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x331b9182088e2a7d6d3fe4742aba1fb231aecc56.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-twocrypto-45/deposit) | CRV | 75.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-2/deposit) | CRV | 25.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 14.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 4.2% | ## Ecosystem Metrics *All changes (shown with + or -) represent the difference compared to values from one week ago.* ### CrvUSD & scrvUSD Metrics [CrvUSD](https://www.curve.finance/crvusd/ethereum/markets/) supply declined slightly this week, mainly due to PegKeepers reducing their deployed reserves to support the peg, which is still reassuringly close to $1\. Borrowed amounts and open loans remain steady, despite a rise in average borrow rates across Curve and the broader DeFi sector. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Total Supply | $132M | \-14.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Borrowed | $126M | \-1.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $6.3M | \-$19.9M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD Yield | 4.7% APY | \-2.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD | 34.2% | \-3.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Peg | $0.9999 | \-$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 9.5% | +2.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Loans | 766 | \-1 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Fees | $167k | +0.3% | ### Pool Metrics The number of swaps rose significantly this week, though the average swap size declined. TVL increased, and fees remain strong despite lower volume, supported by dynamic fee adjustments. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.97B | +0.7% | | 🔄 Volume | $1.43B | \-26.9% | | 🔄 Swaps | 471k | +32.3% | | 🔄 Total Fees | $297k | \-13.2% | ### Llamalend Metrics Larger borrowers are continuing to take loans out in [Llamalend](https://www.curve.finance/lend/ethereum/markets/), because it's now one of the cheapest places to borrow across the DeFi landscape. TVL remains sticky, thanks to [Resupply](https://resupply.fi/). | Metric | Value | Change | | -------------- | ----- | ------ | | 🦙 Lending TVL | $177M | \-1.0% | | 🦙 Supplied | $151M | \-1.7% | | 🦙 Borrowed | $107M | +5.0% | | 🦙 Loans | 935 | \-7 | ## Notable Pool Activity ### Highest Volume Pools Both the USDC/RLUSD and WETH/weETH pools are welcome additions to the top volume pools this week. | Chain | Pool | Volume | TVL | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $290M | $182M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $118M | $51.6M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $107M | $4.5M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcd5fe23c85820f7b72d0926fc9b05b43e359b7ee.png)weETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-157/deposit) | $64.4M | $19.7M | ### Recently Launched Pools Two newly launched pools reached significant TVL this week. Details are shown below. | Chain | Pool | TVL | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x331b9182088e2a7d6d3fe4742aba1fb231aecc56.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-twocrypto-45/deposit) | $120.00k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x7743e50f534a7f9f1791dde7dcd89f7783eefc39.png)fxSAVE![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-475/deposit) | $31.20k | ### Highest Fee Generating Pools It’s impressive to see the Hyperliquid [PURR/WHYPE pool](https://www.curve.finance/dex/hyperliquid/pools/factory-twocrypto-2/deposit) rank in the top 3 for fees this week. After beginning to attract TVL just last week, it has already reached $2.6M in TVL and generated strong returns for LPs on only $3.6M in volume. | Chain | Pool | Fees | Volume | | ---------------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $23.2k | $290M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $19.2k | $4.33M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/hyperliquid.png "Hyperliquid") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0x9b498c3c8a0b8cd8ba1d9851d40d186f1872b44e.png)PURR![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0x5555555555555555555555555555555555555555.png)WHYPE](https://curve.finance/dex/#/hyperliquid/pools/factory-twocrypto-2/deposit) | $13.9k | $3.58M | Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Now Live on XDC Network URL: https://news.curve.finance/curve-now-live-on-xdc-network/ Last updated: 2025-06-11T14:07:14.000Z This deployment opens new opportunities for asset issuers, liquidity providers, and traders looking to tap into XDC's growing institutional adoption and expanding presence across Asia and the Middle East. ### **Why XDC Network?** Originally built for trade finance, XDC Network has evolved into a versatile enterprise-grade Layer 1 blockchain that's perfectly positioned for Curve's expansion into institutional and real-world asset markets. Key advantages include: - **Enterprise-Ready Infrastructure**: EVM-compatible with institutional-grade security and compliance features - **Cost-Effective Operations**: Ultra-low transaction fees ideal for frequent trading and liquidity operations - **Strategic Geographic Reach**: Strong adoption across Asia and the Middle East, opening new markets for asset issuers - **High Performance**: Fast finality and high throughput supporting both retail and institutional trading volumes - **Growing RWA Ecosystem**: Active tokenization initiatives and partnerships with traditional finance --- ### **What Curve Brings to XDC Network** - **Full DEX Deployment**: Core Stableswap and Cryptoswap contracts are live, delivering the efficiency and capital optimization Curve is known for across all asset types. - **Permissionless Pool Creation**: Asset issuers can launch pools for stablecoins, liquid staking tokens, or any tokenized assets, enabling low-slippage trading with deep liquidity from day one. - **Integrated Frontend**: The XDC Network is fully integrated into Curve's familiar interface, supporting seamless user experience. --- ### **Current State and Next Steps** The deployment includes all essential Curve functionality from day one. As XDC Network continues expanding its institutional partnerships and RWA tokenization initiatives, Curve provides the liquidity infrastructure to support this growth. **Ready to explore Curve on XDC Network?** [Launch Curve on XDC → ](https://www.curve.finance/dex/xdc/pools/ ) --- *Follow* [*@CurveFinance*](https://twitter.com/CurveFinance) *and* [*@XDC\_Network\_*](https://x.com/XDC%5FNetwork%5F) *for the latest updates on this deployment.* ### Curve Live on Hyperliquid URL: https://news.curve.finance/curve-live-on-hyperliquid/ Last updated: 2025-06-06T14:00:58.000Z [Curve Finance is now live on HyperEVM](https://curve.fi/dex/#/hyperliquid/pools), an EVM environment for the Hyperliquid blockchain [launched by the Hyper Foundation](https://x.com/HyperFND/status/1891730068151599464). The deployment initially started as a Curve-Lite instance, a minimal version of the DEX with frontend support. Following strong traction, it has been upgraded to a full Curve DEX deployment, with all standard features and API support available. This marks it as the second Curve-Lite deployment to graduate to a full version. Users can now access Curve’s full suite of efficient trading tools on one of the fastest chains in the ecosystem. ### What Curve Brings to HyperEVM - **Full DEX deployment**: Core Stableswap and Cryptoswap contracts are live, delivering the efficiency and reliability Curve is known for. - **Permissionless Pools**: Anyone can launch pools for stable or volatile assets, enabling low-slippage, capital-efficient trading. - **Integrated Frontend & API**: Curve’s familiar interface and backend API are fully live, supporting both users and developers with seamless access, stats and tooling. ### About Hyperliquid's HyperEVM [HyperEVM](https://hyperliquid.gitbook.io/hyperliquid-docs/for-developers/evm) is a novel Ethereum Virtual Machine (EVM) environment built natively onto the Hyperliquid blockchain. This combines the flexibility of EVM smart contracts with the performance of a high-speed trading layer. Key features include: - **Fast Execution**: HyperEVM splits throughput into fast blocks (2-second finality) for time-sensitive transactions and large blocks (1-minute intervals) for complex operations like contract deployments. This design is an interesting way to optimize for both speed and scalability. - **Hyperliquid Integration**: HyperEVM integrates with Hyperliquid’s existing on-chain financial system, enabling protocols like Curve, deployed on HyperEVM, to interact with the Hyperliquid L1 perpetual exchange. ### Current State and Next Steps Curve pools on Hyperliquid currently hold over $12 million in liquidity and see high pool utilization with multi-million dollar daily trading volumes, showcasing the efficient design of Curve’s stablepools. Part of this traction comes from external incentives, with protocols like Ethena and Resolv distributing points to selected pools. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/06/Screenshot-2025-06-06-at-08.54.56.png) The final step is getting the CRV token ready on HyperEVM. This will enable the DAO to vote on emissions for pools on Hyperliquid, fully activating Curve’s incentive and governance framework on the network. [Ready for the Hype? ](https://www.curve.finance/dex/hyperliquid/pools/) ### Curve Best Yields & Key Metrics | Week 23, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-23-2025/ Last updated: 2025-06-05T14:26:18.000Z ## Market Overview Risk appetite has declined across markets, leading to compressed yields and a slight 1.6% drop in [Curve](https://www.curve.finance/dex/)’s TVL, now at $2.34B. This decrease is primarily due to reduced [crvUSD](https://www.curve.finance/crvusd/ethereum/markets/) borrowing demand and a slight pullback in [Llamalend](https://www.curve.finance/lend/ethereum/markets/) TVL after ten consecutive weeks of growth. Despite lower yields, Curve continues to offer some of the most attractive opportunities in DeFi. This weekly update highlights key metrics and standout yield opportunities across the ecosystem. ## Top Yields ### Top USD Stablecoin Yields | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x6e58089d8e8f664823d26454f49a5a0f2ff697fe.png)SQUID](https://curve.finance/lend/#/fraxtal/markets/one-way-market-4/vault/deposit) | Llamalend | 14.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x699e04f98de2fc395a7dcbf36b48ec837a976490.png)tacUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-445/deposit) | Pool | 12.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 12.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xab94c721040b33aa8b0b4d159da9878e2a836ed0.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-44/deposit) | Pool | 12.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/lend/#/fraxtal/markets/one-way-market-0/vault/deposit) | Llamalend | 12.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/kava.png "Kava") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-kava/0x7f5373ae26c3e8ffc4c77b7255df7ec1a9af52a6.png)axlUSDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-kava/0x919c1c267bc06a7039e03fcc2ef738525769109c.png)USDt](https://curve.finance/dex/#/kava/pools/factory-v2-13/deposit) | Pool | 12.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/lend/#/fraxtal/markets/one-way-market-1/vault/deposit) | Llamalend | 11.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x289f635106d5b822a505b39ac237a0ae9189335b.png)scrvUSD](https://curve.finance/dex/#/optimism/pools/factory-stable-ng-63/deposit) | Pool | 10.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | Pool | 10.6% | ### Top Major Asset Yields | Chain | Pool | Asset | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 7.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000006.png)frxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-6/deposit) | ETH | 6.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x3d15fd46ce9e551498328b1c83071d9509e2c3a0.png)uniETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x82af49447d8a07e3bd95bd0d56f35241523fbab1.png)WETH](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-84/deposit) | ETH | 6.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x661c70333aa1850ccdbae82776bb436a0fcfeefb.png)EBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-183/deposit) | BTC | 3.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-69/deposit) | BTC | 2.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6bf340db729d82af1f6443a0ea0d79647b1c3ddf.png)tacBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc96de26018a54d51c097160568752c4e3bd6c364.png)FBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-446/deposit) | BTC | 2.0% | ### Other Asset Yields | Chain | Pool | Asset | Yield | | | | | | | ---------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --- | ---- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x172370d5cd63279efa6d502dab29171933a610af.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/polygon/pools/factory-tricrypto-6/deposit) | CRV | 20.9% | | | | | | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x11cdb42b0eb46d95f990bedd4695a6e3fa034978.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/arbitrum/pools/factory-tricrypto-27/deposit) | CRV | 18.5% | | | | | | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 13.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 3.9% | ## Ecosystem Metrics *All changes (shown with + or -) represent the difference compared to values from one week ago.* ### CrvUSD & scrvUSD Performance [crvUSD](https://www.curve.finance/crvusd/ethereum/markets/) supply increased this week, driven primarily by PegKeepers deploying part of their allocated reserves to push down the peg. Demand for crvUSD was strong, with the scrvUSD rate becoming especially attractive at 6.9%. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | ------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Total Supply | $154M | +7.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Borrowed | $128M | \-0.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $26.2M | +$11.5M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD Yield | 6.9% APY | +0.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD | 37.9% | +9.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Peg | $1.0000 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 4.1% | \-2.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Loans | 767 | \-14 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Fees | $167k | +0.3% | ### Pool Statistics Nearly all pool metrics are positive this week, showing how Curve shines in volatility. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $1.95B | +0.2% | | 🔄 Volume | $1.96B | +20.5% | | 🔄 Swaps | $356k | \-1.1% | | 🔄 Total Fees | $342k | +8.2% | ### Llamalend Performance TVL finally decreased slightly after being up only for the past 10 weeks, but borrowers continue to be attracted to the low rates and safety [Llamalend](https://www.curve.finance/lend/ethereum/markets/) has to offer. | Metric | Value | Change | | -------------- | ----- | ------ | | 🦙 Lending TVL | $179M | \-2.8% | | 🦙 Supplied | $154M | \-1.6% | | 🦙 Borrowed | $102M | +1.6% | | 🦙 Loans | 942 | +32 | ## Notable Pool Activity ### Highest Volume Pools The usual suspects continued to be the highest volume pools. | Chain | Pool | Volume | TVL | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $365M | $182M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $178M | $4.8M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $131M | $54.2M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $99.5M | $50.6M | ### Recently Launched Pools There have been 14 new pools this week bringing in a total of over $12M TVL, the biggest 6 are highlighted below. | Chain | Pool | TVL | | ---------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/hyperliquid.png "Hyperliquid") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0x211cc4dd073734da055fbf44a2b4667d5e5fe5d2.png)sUSDe![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0x5d3a1ff2b6bab83b63cd9ad0787074081a52ef34.png)USDe](https://curve.finance/dex/#/hyperliquid/pools/factory-stable-ng-12/deposit) | $3.51M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/hyperliquid.png "Hyperliquid") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0x9b498c3c8a0b8cd8ba1d9851d40d186f1872b44e.png)PURR![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0x5555555555555555555555555555555555555555.png)WHYPE](https://curve.finance/dex/#/hyperliquid/pools/factory-twocrypto-2/deposit) | $2.14M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/hyperliquid.png "Hyperliquid") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0x02c6a2fa58cc01a18b8d9e00ea48d65e4df26c70.png)feUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0x5d3a1ff2b6bab83b63cd9ad0787074081a52ef34.png)USDe](https://curve.finance/dex/#/hyperliquid/pools/factory-stable-ng-7/deposit) | $2.10M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/hyperliquid.png "Hyperliquid") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0x8ff0dd9f9c40a0d76ef1bcfaf5f98c1610c74bd8.png)USH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-hyperliquid/0x5d3a1ff2b6bab83b63cd9ad0787074081a52ef34.png)USDe](https://curve.finance/dex/#/hyperliquid/pools/factory-stable-ng-17/deposit) | $1.35M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x48f9e38f3070ad8945dfeae3fa70987722e3d89c.png)iUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-465/deposit) | $968k | ### Highest Fee Generating Pools | Chain | Pool | Fees | Volume | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $29.2k | $365M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $21.3k | $13.4M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4e3fbd56cd56c3e72c1403e103b45db9da5b9d2b.png)CVX](https://curve.finance/dex/#/ethereum/pools/cvxeth/deposit) | $13.3k | $3.4M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $13.0k | $131M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x73a15fed60bf67631dc6cd7bc5b6e8da8190acf5.png)USD0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x35d8949372d46b7a3d5a56006ae77b215fc69bc0.png)USD0++](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-189/deposit) | $11.5k | $28.8M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve Monthly Recap May, 2025 URL: https://news.curve.finance/curve-monthly-recap-may-2025-2/ Last updated: 2025-06-03T13:00:59.000Z ## Key Highlights of May: - Curve TVL exceeded $2.4 billion at the month's peak - crvUSD celebrated its 2-year anniversary with record supply - veCRV Locking Fully Permissionless Now - DNS attacks on curve\[.\]fi led to migration to new domain curve.finance - Partnership announced with Cyfrin Updraft for developer growth - Hyperliquid and Plume --- # Protocol Updates & Milestones ### crvUSD Turns 2 Years — And Hits All-Time Highs May marked the second anniversary of crvUSD, Curve’s native stablecoin. Since launching in May 2023, crvUSD has steadily grown into a foundational piece of Curve’s lending ecosystem. Designed as the spiritual successor to DAI, crvUSD is a truly decentralized stablecoin powered by LLAMMA, a unique liquidation engine that protects your collateral during market volatility, giving you more time and flexibility to react. This month, both crvUSD and Savings crvUSD not only reached **new all-time highs** in circulating supply, but overall ecosystem adoption has also increased. crvUSD is now widely used across DeFi protocols and even for everyday spending, including through crypto credit cards, enabling users to access liquidity without selling their tokens. [crvUSD: 2 Years OncrvUSD celebrates its 2 year anniversary while its circulating supply hit an All-time-high.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-19.png)Curve NewsSaint Rat![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/crvusd-2-year-anniversary-2.png)](https://news.curve.finance/crvusd-2-years-on/) With interest rates across DeFi rising again, Savings crvUSD has also resumed printing rewards for their holders. The current APY for simply holding scrvUSD is 7.79% and trending upward. That's some real yield!! ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/06/Screenshot-2025-06-02-at-10.15.17.png) Start Earning with scrvUSD: ### USDM Pegkeeper Removed Following Token Deprecation Following the announcement that **Mountain Protocol** will be acquired by **Anchorage Digital**, **USDM** was officially deprecated. In response, Curve governance passed [proposal 1055](https://www.curve.finance/dao/ethereum/proposals/1055-ownership/) to **remove the crvUSD/USDM PegKeeper** and exclude USDM from the crvUSD price aggregator. While the pool itself remains live, the PegKeeper was unwound and its debt brought to zero, effectively ending protocol-level support for the pair. [Mountain Protocol Signs Definitive Agreement to be Acquired by Anchorage DigitalMountain Protocol, the Bermuda Monetary Authority regulated company behind the Mountain USD stablecoin (USDM), announced today that it…![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/10fd5c419ac61637245384e7099e131627900034828f4f386bdaa47a74eae156)MediumMountain Protocol![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/1-oDact26J1GHI5Krz1AfTMQ.jpeg)](https://medium.com/@MountainUSDM/mountain-protocol-signs-definitive-agreement-to-be-acquired-by-anchorage-digital-716d8b35c30c) ### LBTC Debt Ceiling Raised for crvUSD Minting In [proposal 1066](https://www.curve.finance/dao/ethereum/proposals/1066-ownership/), the DAO voted to **increase the debt limit for LBTC collateral**. This change the debt limit of crvUSD to be minted against LBTC to 20m, responding to growing demand for Bitcoin-backed stablecoin positions. ### Integrating Pectra: Permissionless veCRV Locking Curve governance approved a major upgrade to protocol accessibility by **removing the veCRV locking whitelist** — a restriction that previously limited CRV locking to EOAs and a few approved smart contracts like Convex, Yearn etc. With [proposal 1062](https://www.curve.finance/dao/ethereum/proposals/1062-ownership/) now passed, **any smart contract** can permissionlessly lock CRV into veCRV. This opens the door for broader participation from multisigs, DAOs, and automated vaults that were previously excluded from Curve’s governance and fee-sharing system. The change was also motivated by Ethereum’s upcoming **Pectra upgrade**, which includes **EIP-7702** — a proposal that could blur the lines between EOAs and smart contracts. Removing the whitelist now future-proofs veCRV against compatibility issues and positions Curve for more seamless integration with evolving Ethereum account standards. --- # Security ### DNS Attacks and New Domain Migration May 2025 tested Curve Finance’s resilience with two external security incidents, both stemming from vulnerabilities in centralized Web2 services, **not from Curve itself**. On May 5, the official Twitter account @CurveFinance was briefly compromised to promote a fake airdrop. More critically, on May 12, attackers hijacked the DNS records of the curve\[dot\]fi domain, redirecting users to a phishing site designed to steal wallet funds. Crucially, no smart contracts, backend systems, or protocol infrastructure were affected - only the domain-level routing was compromised. Curve’s **contracts remained fully secure** throughout and **even processed over $400 million in volume**, despite the frontend being inaccessible during the incident. This highlights the deep integration of Curve’s liquidity infrastructure across DeFi. In response, the team swiftly **migrated to a new permanent domain:** [**curve.finance**](https://curve.finance/). These events reinforce Curve’s commitment to security as its top priority and highlight the systemic risks of depending on centralized Web2 providers. They also demonstrate the importance of decentralized alternatives like ENS and IPFS, which offer a more trustless and resilient foundation for Web3 applications. For more insight, check out [this exclusive interview](https://beincrypto.com/curve-finance-founder-egorov-talks-defi-security/) with Curve founder Michael Egorov on BeInCrypto, where he discusses DeFi security and the path forward. [Curve Domain IncidentOn May 12, 2025, Curve.fi was hijacked via a DNS attack at the registrar level. No contracts or data were compromised. Curve moved to https://curve.finance and urges a shift to ENS for safer, decentralized access.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-20.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/image--1--1.png)](https://news.curve.finance/curve-domain-incident/) **Nonetheless, Curve is more committed than ever to improving the security of its infrastructure.** --- # Integrations & Ecosystem June is shaping up to be an exciting month for Curve in terms of external presence. On **June 4th**, Curve is hosting an **Ecosystem Day** during **Belgrade Blockchain Week!** A few tickets are still available, but registration closes in 24 hours! Grab yours here: [blocklive.io/bel-crv](https://blocklive.io/bel-crv). And that’s not all: On June 27th, Curve will also be present at **StableSummit in Cannes**, where it was recently honored as *Ambassador of the Year*. Rumor has it there might even be some early alpha about [**YieldBasis**](https://x.com/yieldbasis). 👀 > At Stable Summit, the map is simple: all routes lead to Curve.[@CurveFinance](https://twitter.com/CurveFinance?ref%5Fsrc=twsrc%5Etfw), our Ambassador of the Year, is the front page of DeFi — offering deep liquidity, protocol-level trust, and “the most decentralised” stablecoin. Curve supports stablecoin issuers and builders across the… [pic.twitter.com/nCvh3DOdXs](https://t.co/nCvh3DOdXs) > > — Stable Summit 🦫 (@stable\_summit) [May 19, 2025](https://twitter.com/stable%5Fsummit/status/1924392898965225950?ref%5Fsrc=twsrc%5Etfw) ### Continued Llamalend Growth Due To Resupply The launch of Resupply in March 2025 has had a significant and sustained impact on the Curve ecosystem. Resupply enables users to **borrow reUSD against yield-bearing stablecoin collateral**, such as supplied crvUSD to Llamalend markets, **without giving up their yield**. As a result, LlamaLend has experienced **ten consecutive weeks of TVL growth** since Resupply's debut, reaching $184 million by the end of May. TVL increased from just $36 million to over five times that amount in a short span. This influx of liquidity has greatly improved capital efficiency and helped lower average borrowing rates across the platform. ### 90,000 OP Grant Approved to Bootstrap Lending & Liquidity Curve governance passed [proposal 1053](https://www.curve.finance/dao/ethereum/proposals/1053-ownership/) to accept a **90,000 OP grant from Optimism**, aimed at accelerating adoption of Llamalend and its associated liquidity pools on the Optimism network. The grant will be used to incentivize lending markets and deepen stablecoin liquidity, supporting the rollout of crvUSD and related strategies on L2\. This marks another step in Curve’s ongoing expansion into the Optimism ecosystem. [Use Curve on Optimism and Farm $OP Rewards$OP Rewards are now live for Curve’s Llamalend markets and selected crvUSD pools on Optimism!![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-21.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/op-rewards-banner-1-1.png)](https://news.curve.finance/curve-op-incentives/) --- ### Developer Certification with Cyfrin Updraft On May 9, Curve Finance announced a strategic partnership with Cyfrin Updraft to reinforce its leadership in DeFi and support the growth of developer talent. As part of this collaboration, they launched a **scholarship program** offering free Solidity certification exams. The initiative aims to expand technical talent within the Curve ecosystem, with future plans to include Vyper certification. 🐍 Selected developers will receive **vouchers for free SSCD+ certification exams from Cyfrin Updraft**, enabling them to validate their skills and gain priority access to future opportunities in the ecosystem. Curve is also piloting the integration of Updraft certificates into its hiring process to streamline recruitment and onboarding. [Curve & Cyfrin Updraft: Developer Certification ScholarshipsCurve Finance is partnering with Cyfrin Updraft to sponsor developer certification scholarships and support the next wave of Curve ecosystem developers.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-22.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/image-6-1-1.png)](https://news.curve.finance/curve-cyfrin-updraft-developer-certification-scholarships/) --- ### Hyperliquid Gears Up Although **Curve-Lite** was deployed on **Hyperliquid** earlier this year, it wasn’t until May when ERC20 transfers went live that activity meaningfully ramped up. With the infrastructure now fully operational and **Ethena points incentives** driving participation, Curve’s Hyperliquid deployment quickly gained traction, surpassing **$11 million in TVL**. ### Curve Deploys on Plume The Curve ecosystem expanded further with the **deployment of Plume**, a new blockchain environment optimized for DeFi-native applications. Plume’s launch sets the stage for more composability and gas-efficient liquidity strategies. [Curve is Live on PlumeCurve DEX is now live on Plume, a chain purpose-built for real-world assets, optimized for integrating yield from traditional finance into DeFi. Users can access, trade, and provide liquidity for tokenized RWA yield in a fast, composable environment, all powered by Curve’s liquidity-optimizing AMMs.![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/icon/CRV@2x-23.png)Curve Newsmo![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/thumbnail/plume-2-2.png)](https://news.curve.finance/curve-on-plume/) ### Curve Best Yields & Key Metrics | Week 22, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-22-2025/ Last updated: 2025-05-29T14:05:38.000Z ## Market Overview It’s been a relatively quiet week for volatility and trading volumes compared to recent weeks. After seven consecutive weeks of growth, **Curve’s TVL has stabilized at $2.38B**, down 0.9% on the week. [Llamalend](https://www.curve.finance/lend/ethereum/markets/) TVL continues to rise, marking ten straight weeks of growth since [Resupply](https://resupply.fi/) launched. As always, [Curve](https://www.curve.finance) offers some of the best single-asset yields in DeFi. This update highlights some of the most compelling opportunities and key metrics across the Curve ecosystem. ## Top Yields ### Top USD Stablecoin Yields | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x498bf2b1e120fed3ad3d42ea2165e9b73f99c1e5.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x7a10f506e4c7658e6ad15fdf0443d450b7fa80d7.png)EYWA](https://curve.finance/lend/#/arbitrum/markets/one-way-market-21/vault/deposit) | Llamalend | 33.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x699e04f98de2fc395a7dcbf36b48ec837a976490.png)tacUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-445/deposit) | Pool | 18.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xd3dce716f3ef535c5ff8d041c1a41c3bd89b97ae.png)scUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-25/deposit) | Pool | 17.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x6e58089d8e8f664823d26454f49a5a0f2ff697fe.png)SQUID](https://curve.finance/lend/#/fraxtal/markets/one-way-market-4/vault/deposit) | Llamalend | 13.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xab94c721040b33aa8b0b4d159da9878e2a836ed0.png)scrvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-44/deposit) | Pool | 13.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x788d96f655735f52c676a133f4dfc53cec614d4a.png)dUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-48/deposit) | Pool | 12.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xd533a949740bb3306d119cc777fa900ba034cd52.png)CRV](https://curve.finance/lend/#/ethereum/markets/one-way-market-3/vault/deposit) | Llamalend | 12.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 12.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-251/deposit) | Pool | 12.2% | ### Top Alternative Asset Yields | Chain | Pool | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-2/deposit) | CRV | 24.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x172370d5cd63279efa6d502dab29171933a610af.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/polygon/pools/factory-tricrypto-6/deposit) | CRV | 19.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x3bce5cb273f0f148010bbea2470e7b5df84c7812.png)scETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x43edd7f3831b08fe70b7555ddd373c8bf65a9050.png)frxETH](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-26/deposit) | ETH | 16.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 15.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x294eecec65a0142e84aedfd8eb2fbea8c9a9fbad.png)tacETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-428/deposit) | ETH | 12.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 9.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x661c70333aa1850ccdbae82776bb436a0fcfeefb.png)EBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-183/deposit) | BTC | 3.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-69/deposit) | BTC | 3.6% | ## Ecosystem Metrics *All changes (shown with + or -) represent the difference compared to values from one week ago.* ### crvUSD & scrvUSD Performance crvUSD fees were not harvested this week, so the DAO will receive two weeks worth of fees in next week. The totals below include the fees generated this week, and the DAO still earned significantly, with borrow rates rising due to increased demand for leverage. scrvUSD yields have also improved, reflecting the higher borrow rates. *Note: The fee figure shown below represents total fees generated, not those distributed. $122K in fees are currently queued for distribution to veCRV holders next week.* | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Total Supply | $144M | \-6.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Borrowed | $129M | \-4.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $14.7M | \-$2.8M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD Yield | 6.3% APY | +2.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD | 28.7% | +0.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Peg | $1.0000 | +$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 6.9% | +0.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Loans | 781 | \-10 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Fees | $167k | +58.0% | ### Pool Statistics All pool metrics remained relatively stable this week. Volumes were up, but the total number of swaps declined slightly, while fees and TVL held steady. This is in line with broader market conditions. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $1.95B | \-0.6% | | 🔄 Volume | $1.63B | +17.0% | | 🔄 Swaps | 360k | \-6.5% | | 🔄 Total Fees | $316k | \-1.1% | ### LlamaLend Performance This week marks 10 consecutive weeks of [Llamalend](https://www.curve.finance/lend/ethereum/markets/) TVL growth since the launch of [Resupply](https://resupply.fi/). TVL has grown from just $36M to over five times that amount, now exceeding $184M in just ten weeks. | Metric | Value | Change | | -------------- | ----- | ------ | | 🦙 Lending TVL | $184M | +2.98% | | 🦙 Supplied | $156M | +3.29% | | 🦙 Borrowed | $100M | +8.71% | | 🦙 Loans | 910 | +40 | ## Notable Pool Activity ### Highest Volume Pools The major assets continue to dominate volumes, and this week is no exception. | Chain | Pool | Volume | TVL | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $315M | $185M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $176M | $5.57M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $69.4M | $50.6M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x8292bb45bf1ee4d140127049757c2e0ff06317ed.png)RLUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-327/deposit) | $67.3M | $45.3M | ### Recently Launched Pools Two new pools have launched recently, adding a combined $600K in TVL. | Chain | Pool | TVL | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://curve.finance/images/default-crypto.png)sUSDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-178/deposit) | $306k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://curve.finance/images/default-crypto.png)USDai![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xaf88d065e77c8cc2239327c5edb3a432268e5831.png)USDC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-176/deposit) | $304k | ### Highest Fee Generating Pools | Chain | Pool | Fees | Volume | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $25.2k | $315M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $23.0k | $14.1M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x73a15fed60bf67631dc6cd7bc5b6e8da8190acf5.png)USD0![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x35d8949372d46b7a3d5a56006ae77b215fc69bc0.png)USD0++](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-189/deposit) | $14.8k | $37.1M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Curve is Live on Plume URL: https://news.curve.finance/curve-on-plume/ Last updated: 2025-05-27T14:02:21.000Z ## Why Plume? [Plume](https://plume.org/) is designed from the ground up to support real-world asset flows. Key reasons behind the deployment: - **RWA-first**: Purpose-built to support real-world assets natively. - **Institutional Backing**: Plume is supported by major players across traditional finance and crypto. - **Composability & Liquidity**: Plume’s architecture ensures seamless DeFi integrations with RWAs. ## What's Next? With the Curve DEX now live on Plume, users gain access to tokenized RWA markets with deep, efficient liquidity. This launch brings Curve closer to bridging DeFi with real-world finance and strengthens its role as the liquidity layer for RWAfi. 📢 Follow [Plume](https://x.com/plumenetwork) for the latest on the Plume launch incentives! [Start Using Curve On Plume! ](https://www.curve.finance/dex/plume/pools/) --- ### Curve Best Yields & Key Metrics | Week 21, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-21-2025/ Last updated: 2025-05-22T12:48:24.000Z ## Market Overview [**Curve**](https://www.curve.finance)**'s TVL increased by 2% to $2.4B** this week, supported by rising liquidity across [swap pools](https://www.curve.finance/dex/ethereum/pools/), sustained growth from [Llamalend](https://www.curve.finance/lend/ethereum/markets/), and continued borrowing of [crvUSD](https://www.curve.finance/crvusd/ethereum/markets/). This weekly update highlights some of the most compelling opportunities and metrics across the Curve ecosystem. ## Top Yields ### Top USD Stablecoin Yields | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-336/deposit) | Pool | 20.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6440f144b7e50d6a8439336510312d2f54beb01d.png)BOLD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x5f98805a4e8be255a32880fdec7f6728c6568ba0.png)LUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-456/deposit) | Pool | 20.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xd3dce716f3ef535c5ff8d041c1a41c3bd89b97ae.png)scUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x80eede496655fb9047dd39d9f418d5483ed600df.png)frxUSD](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-25/deposit) | Pool | 15.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x788d96f655735f52c676a133f4dfc53cec614d4a.png)dUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-45/deposit) | Pool | 15.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-251/deposit) | Pool | 15.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6440f144b7e50d6a8439336510312d2f54beb01d.png)BOLD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-455/deposit) | Pool | 14.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-401/deposit) | Pool | 13.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x788d96f655735f52c676a133f4dfc53cec614d4a.png)dUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-48/deposit) | Pool | 12.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 12.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x833589fcd6edb6e08f4c7c32d4f71b54bda02913.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x646a737b9b6024e49f5908762b3ff73e65b5160c.png)scrvUSD](https://curve.finance/dex/#/base/pools/factory-stable-ng-58/deposit) | Pool | 12.7% | ### Top Asset Yields | Chain | Pool | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x3bce5cb273f0f148010bbea2470e7b5df84c7812.png)scETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x43edd7f3831b08fe70b7555ddd373c8bf65a9050.png)frxETH](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-26/deposit) | ETH | 25.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-2/deposit) | CRV | 25.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x172370d5cd63279efa6d502dab29171933a610af.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/polygon/pools/factory-tricrypto-6/deposit) | CRV | 19.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 15.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-v2-331/deposit) | ETH | 13.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 10.2% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 6.3% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x661c70333aa1850ccdbae82776bb436a0fcfeefb.png)EBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-183/deposit) | BTC | 5.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-69/deposit) | BTC | 3.7% | ## Ecosystem Metrics *All changes (shown with + or -) represent the difference compared to values from one week ago.* ### CrvUSD & scrvUSD Performance As leverage demand rises, borrowers mint crvUSD and swap it for assets like ETH and BTC. This exerts downward pressure on the peg, triggering PegKeepers to withdraw crvUSD and protect its peg with their Peg Stability Reserves. As a result, borrow rates, fees, and scrvUSD APY all increased this week due to the peg-driven rate adjustments and PegKeeper activity. | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | -------- | -------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Total Supply | $153M | \-9.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Borrowed | $136M | +3.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $17.5M | \-$20.7M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD Yield | 3.7% APY | +2.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD | 28.1% | \-0.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Peg | $0.9999 | \- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 6.4% | +3.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Loans | 791 | +3 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Fees | $106k | +127% | ### Pool Statistics Despite reduced volatility and lower trading volumes this week, fees have remained relatively strong — a positive indicator — and TVL has increased. | Metric | Value | Change | | ------------- | ------ | ------- | | 🔄 TVL | $1.96B | +1.2% | | 🔄 Volume | $1.39B | \-47.7% | | 🔄 Swaps | 385k | \-6.4% | | 🔄 Total Fees | $320k | \-32.8% | ### Llamalend Performance It’s notable to see an L2 pool among the top volume generators, reflecting Curve’s growing presence across EVM chains. | Metric | Value | Change | | -------------- | ------ | ------ | | 🦙 Lending TVL | $179M | +2.6% | | 🦙 Supplied | $151M | +0.4% | | 🦙 Borrowed | $92.3M | +8.5% | | 🦙 Loans | 870 | +23 | ## Notable Pool Activity ### Highest Volume Pools It's great to see a L2 pool here in the top pools for volume, as Curve's presence continues to increase over all EVM chains. | Chain | Pool | Volume | TVL | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $204M | $181M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $96.9M | $6.4M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $64.8M | $136M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xff970a61a04b1ca14834a43f5de4533ebddb5cc8.png)USDC.e![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0xfd086bc7cd5c481dcc9c85ebe478a1c0b69fcbb9.png)USD₮0](https://curve.finance/dex/#/arbitrum/pools/2pool/deposit) | $49.1M | $4.0M | ### Recently Launched and High Growth Pools All the pools listed below either launched or experienced 10x growth over the past week, contributing over $11M in additional TVL on Curve. | Chain | Pool | TVL | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6bf340db729d82af1f6443a0ea0d79647b1c3ddf.png)tacBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc96de26018a54d51c097160568752c4e3bd6c364.png)FBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-446/deposit) | $7.95M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | $1.54M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x699e04f98de2fc395a7dcbf36b48ec837a976490.png)tacUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-445/deposit) | $1.43M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x294eecec65a0142e84aedfd8eb2fbea8c9a9fbad.png)tacETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-428/deposit) | $981k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-414/deposit) | $668k | ### Highest Fee Generating Pools | Chain | Pool | Fees | Volume | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $32.2k | $13.5M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $16.3k | $204M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $15.5k | $23.9M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### Beyond Burn: Why veCRV Unlocks Sustainable Tokenomics for Curve URL: https://news.curve.finance/beyond-burn-why-vecrv-unlocks-sustainable-tokenomics-for-curve/ Last updated: 2025-05-20T14:05:50.000Z As DeFi evolves with more capital at stake and growing complexity in on-chain systems, protocol design must increasingly balance incentive alignment, active governance, and long-term value creation. Two models have emerged as dominant frameworks in this discussion: the **Voting Escrow (ve)** model and the **Buy-and-Burn** model. Curve - pioneering work led by Michael Egorov - introduced the **ve-tokenomics model** with the launch of veCRV in 2020, setting the standard for commitment-based governance in DeFi. This model has since been adopted by many other DeFi protocols. The Buy-and-Burn model, which has roots in traditional corporate finance (e.g. stock buybacks) and early crypto tokenomics (as with Binance’s BNB in 2017), is often praised by economists as an effective way to boost token value through supply reduction. However, this view is frequently **misguided**. With nearly five years of real-world data on the veCRV model, we are now able to evaluate both approaches not just in theory, but through the lens of actual protocol performance - focusing on sustainability, user incentives, and revenue generation. --- ### ve-Tokenomics vs. Buyback-and-Burn The **ve-tokenomics model** incentivizes long-term commitment by allowing users to lock their tokens for a specified period in exchange for voting power and a share of protocol rewards. These locked tokens are typically non-transferable - though some variations with transferable “locked tokens” exist - and are excluded from the circulating supply for the duration of the lock, reinforcing governance participation and alignment with protocol goals. In contrast, the **buyback-and-burn model** reduces token supply by using protocol revenue to repurchase tokens from the open market and permanently remove (or burn) them. This approach creates immediate scarcity by decreasing the total number of tokens in circulation, without requiring any active participation from holders. --- ### Burn vs. Lock: Which Builds a Stronger Protocol? The **buyback-and-burn model**, adopted by several DeFi protocols, reduces token supply by permanently removing tokens repurchased with protocol revenue - aiming to increase scarcity and drive token value. While straightforward, this approach treats tokenholders as passive beneficiaries and lacks built-in mechanisms for governance or engagement. In contrast, the **veCRV model reduces effective supply through long-term token locking**, rather than destruction. Locked tokens are non-transferable for the duration of the lock - up to four years - and **grant users voting power, boosted rewards, and a share of protocol revenue**. This design encourages active participation and long-term alignment between users and the protocol. Importantly, data shows that veCRV has consistently locked **around three times more tokens** than a comparable burn mechanism would remove. This not only amplifies scarcity but also deepens protocol governance and value distribution across committed participants. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/05/CRV_burn_model.png) Comparison of CRV, veCRV and potentially bought CRV from fees and bribes. ### Verdict: veCRV for Sustainable Growth The veCRV model achieves more than just supply reduction - it builds **a governance-driven ecosystem**, where long-term users are incentivized to participate, vote, and contribute to protocol success. As Curve’s revenue mix shifts toward sustainable sources like trading fees and crvUSD markets, veCRV remains central to how value flows back to the community. Looking forward, we believe the future of DeFi lies not in burning tokens, but in **empowering holders to shape the protocol’s direction - and rewarding them in line with their commitment**. [Lock Your CRV as veCRV! ](https://www.curve.finance/dao/ethereum/vecrv/create/) --- ### Curve Domain Incident URL: https://news.curve.finance/curve-domain-incident/ Last updated: 2025-05-20T06:21:34.000Z On **May 12th, 2025**, at approximately **20:55 UTC**, the Curve Finance frontend hosted at the .fi domain experienced a **domain hijacking attack** at the **registrar level, unrelated to any breach of Curve’s infrastructure**. Attackers managed to access the registrar and change the DNS settings. Users attempting to access the official Curve website were instead redirected to a **malicious site** that mimicked the Curve homepage — a static decoy that did not function as a real frontend and only attempted to prompt users for wallet signatures. ## **Our Response** While the registrar was slow to respond, the Curve team acted swiftly and successfully escalated the issue upstream. As a result, the .fi domain was pointed to neutral nameservers and thus taken offline while we worked on regaining control of it. To ensure users could still access the frontend and manage their funds safely, we quickly provided a safe alternative at , which now serves as the official access point for the Curve Finance interface for the time being. Upon discovery of the exploit at 21:20 UTC, the following immediate steps were taken: - Alerted users via our official channels - Requested a takedown of the compromised domain - Began mitigation and domain recovery procedures - Engaged security partners and the registrar to coordinate a response ## **Funds and Data Are Safe** While the domain was compromised, the Curve protocol and its smart contracts remained **fully secure and operational** and continue to be so. During the frontend outage, Curve still processed over **$400 million in on-chain volume**, demonstrating the resilience and integrity of the protocol. No data was compromised as **Curve’s frontend does not store any user data.** The team can be reached at all times via its [**Discord server**](https://discord.com/invite/KPddghDq). Users are invited to open tickets to address any inquiries or concerns. ## **How it happened** The attacker gained access to the systems of the domain registrar **iwantmyname**. They then modified the DNS delegation of the curve\[.\]fi domain to point to their own DNS server, allowing them to reroute traffic. The **exact method of compromise is still under investigation,** as there are no signs of unauthorized access or compromised login credentials. Registrar-level attacks like this are rare but **impactful,** having previously affected other DeFi projects, highlighting that it's a critical vulnerability across all DeFi apps relying on traditional DNS infrastructure. We believe this underlines the need for an industry-wide shift toward **decentralized naming systems**, such as the **Ethereum Name Service (ENS)**. We need to take action and influence major browsers providers to add support for ENS domains (like curve.eth) to offer a **safe, blockchain-verified alternative** to legacy DNS, eliminating this entire attack vector. ## **Next Steps** We are currently: - **Reviewing and upgrading our registrar-level security measures**, including additional protections and registrar alternatives - **Exploring decentralized frontend solutions** to remove reliance on vulnerable web infrastructure - **Collaborating with the wider DeFi and ENS ecosystems** to push for browser-native support of .eth domains Despite our efforts, the response from the registrar has been **slow and uncooperative**, and we continue to pursue recovery through all available channels. We are incredibly **grateful for the continued support and trust** of our users and partners. Incidents like this strengthen our resolve to build a safer, more decentralized future for DeFi. We remain committed to transparency, user protection, and continued innovation. If you have any questions or concerns, we are always open to speaking directly, so please don’t hesitate to reach out. ### Curve Best Yields & Key Metrics | Week 20, 2025 URL: https://news.curve.finance/curve-best-yields-key-metrics-week-20-2025/ Last updated: 2025-05-15T13:41:53.000Z ## Market Overview It was an unfortunate week for Curve, which was targeted by a [DNS hack](https://x.com/CurveFinance/status/1922199907269501130). As a result, the primary domain has changed to [curve.finance](https://curve.finance) for the foreseeable future. Despite the disruption, Curve’s products and smart contracts operated without interruption, and all user funds remained secure. **TVL also increased 8.9% to $2.36B**, swaps and fees more than doubled week over week, [Llamalend](https://www.curve.finance/lend/ethereum/markets/) continued its growth, and [crvUSD](https://www.curve.finance/crvusd/ethereum/markets/) borrowing also increased. This weekly update highlights key opportunities and metrics from across the Curve ecosystem. ## Top Yields *Note: for pools with less than $100k TVL, the yield has been calculated as if the pool has $100k TVL.* ### Top USD Stablecoin Yields | Chain | Market | Type | Yield | | ---------------------------------------------------------------------------------------------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcacd6fd266af91b8aed52accc382b4e165586e29.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-336/deposit) | Pool | 20.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/fraxusdc/deposit) | Pool | 17.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xb102f7efa0d5de071a8d37b3548e1c7cb148caf3.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x6e58089d8e8f664823d26454f49a5a0f2ff697fe.png)SQUID](https://curve.finance/lend/#/fraxtal/markets/one-way-market-4/vault/deposit) | LlamaLend | 16.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x788d96f655735f52c676a133f4dfc53cec614d4a.png)dUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-45/deposit) | Pool | 15.7% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2a8e1e676ec238d8a992307b495b45b3feaa5e86.png)OUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-401/deposit) | Pool | 15.1% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000001.png)frxUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfb1520dbdc9230ef5dd5e6fd3bbb6647b570e190.png)PYUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-7/deposit) | Pool | 14.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xfa2b947eec368f42195f24f36d2af29f7c24cec2.png)USDf](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-391/deposit) | Pool | 13.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0x788d96f655735f52c676a133f4dfc53cec614d4a.png)dUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000008.png)sfrxUSD](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-48/deposit) | Pool | 13.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/msusd.png)msUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x853d955acef822db058eb8505911ed77f175b99e.png)FRAX![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC](https://curve.finance/dex/#/ethereum/pools/factory-v2-251/deposit) | Pool | 12.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0xa3fa99a148fa48d14ed51d610c367c61876997f1.png)miMATIC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x2791bca1f2de4661ed88a30c99a7a9449aa84174.png)USDC.e](https://curve.finance/dex/#/polygon/pools/factory-v2-498/deposit) | Pool | 12.6% | ### Top Alternative Asset Yields | Chain | Pool | ASSET | Yield | | ---------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | ETH | 55.9% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/crosscurve.png)CrossCurve CRV](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-2/deposit) | CRV | 27.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/polygon.png "Polygon") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x172370d5cd63279efa6d502dab29171933a610af.png)CRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x62d5a59e0d67c0381aad53b201b4a1b8dcd2c833.png)vsdCRV![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-polygon/0x75289388d50364c3013583d97bd70ced0e183e32.png)asdCRV](https://curve.finance/dex/#/polygon/pools/factory-tricrypto-6/deposit) | CRV | 21.5% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/optimism.png "Optimism") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0xc52d7f23a2e460248db6ee192cb23dd12bddcbf6.png)crvUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x68f180fcce6836688e9084f035309e29bf0a2095.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-optimism/0x4200000000000000000000000000000000000006.png)WETH](https://curve.finance/dex/#/optimism/pools/factory-tricrypto-0/deposit) | TRICRYPTO | 18.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6bf340db729d82af1f6443a0ea0d79647b1c3ddf.png)tacBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf.png)cbBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc96de26018a54d51c097160568752c4e3bd6c364.png)FBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-446/deposit) | BTC | 16.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/fraxtal.png "Fraxtal") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xe162075a1c0ac7e985253972beca5e83da3bbaa4.png)InsfrxETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-fraxtal/0xfc00000000000000000000000000000000000005.png)sfrxETH](https://curve.finance/dex/#/fraxtal/pools/factory-stable-ng-36/deposit) | ETH | 12.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/base.png "Base") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0x4200000000000000000000000000000000000006.png)WETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-base/0xdbfefd2e8460a6ee4955a68582f85708baea60a3.png)superOETHb](https://curve.finance/dex/#/base/pools/factory-stable-ng-143/deposit) | ETH | 10.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x1a7e4e63778b4f12a199c062f3efdd288afcbce8.png)EURA![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc581b735a1688071a1746c968e0798d642ede491.png)EURT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdb25f211ab05b1c97d595516f45794528a807ad8.png)EURS](https://curve.finance/dex/#/ethereum/pools/factory-v2-66/deposit) | EUR | 5.6% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x661c70333aa1850ccdbae82776bb436a0fcfeefb.png)EBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x18084fba666a33d37592fa2633fd49a74dd93a88.png)tBTC](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-183/deposit) | BTC | 4.0% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/arbitrum.png "Arbitrum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x2f2a2543b76a4166549f7aab2e75bef0aefc5b0f.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-arbitrum/0x6c84a8f1c29108f47a79964b5fe888d4f4d0de40.png)tBTC](https://curve.finance/dex/#/arbitrum/pools/factory-stable-ng-69/deposit) | BTC | 4.0% | ## Ecosystem Metrics *All changes (shown with + or -) represent the difference compared to values from one week ago.* ### CrvUSD & scrvUSD Performance crvUSD supply decreased, but only due to the PegKeeper debt—now renamed Peg Stability Reserves for clarity—reducing its deposited liquidity in the respective pools. Meanwhile, the amount of crvUSD borrowed increased by 10.4% | Metric | Value | Change | | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------- | --------- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Total Supply | $170M | \-3.8% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Debt | $131M | +10.4% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Peg Stability Reserves | $38.2M | \-$19.1M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD Yield | 1.68% APY | +0.26% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD in![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x0655977feb2f289a4ab78af67bab0d17aab84367.png)scrvUSD | 28.92% | \-0.56% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)crvUSD Peg | $0.9999 | \-$0.0001 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Avg. Borrow Rate | 2.88% | +1.72% | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Loans | 788 | +20 | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xf939e0a03fb07f59a73314e73794be0e57ac1b4e.png)Fees | $46.4k | +40.9% | ### Pool Statistics It was a strong week for Curve pools, with TVL rising 8.4%, and both volume and fees more than doubling week over week. | Metric | Value | Change | | ------------- | ------ | ------ | | 🔄 TVL | $1.94B | +8.4% | | 🔄 Volume | $2.65B | +107% | | 🔄 Swaps | 411k | +24.6% | | 🔄 Total Fees | $476k | +126% | ### Llamalend Performance [Llamalend](https://www.curve.finance/lend/ethereum/markets/)’s metrics continue to climb steadily week over week. Lenders and borrowers are increasingly entering the market, with many borrowers now taking advantage of the lower rates driven by [Resupply](https://news.curve.finance/curve-x-resupply-unlocking-capital-efficiency-for-crvusd/) dynamics. | Metric | Value | Change | | -------------- | ------ | ------ | | 🦙 Lending TVL | $174M | +9.2% | | 🦙 Supplied | $150M | +7.5% | | 🦙 Borrowed | $85.1M | +17.4% | | 🦙 Loans | 847 | +16 | ## Notable Pool Activity ### Highest Volume Pools Mostly the usual suspects this week; however, the Strategic Reserve pools have seen exceptional swap volumes. Notably, the [USDC/USDT pool](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/factory-stable-ng-355/deposit) recorded over 40× its TVL in volume, while the [USDT/USDe pool](https://curve.finance/dex/?ref=news.curve.finance#/ethereum/pools/factory-stable-ng-365/deposit) saw a remarkable 80× TVL in volume! | Chain | Pool | Volume | TVL | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $479M | $179M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-355/deposit) | $416M | $10M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee.png)ETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xae7ab96520de3a18e5e111b5eaab095312d7fe84.png)stETH](https://curve.finance/dex/#/ethereum/pools/steth/deposit) | $187M | $134M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x4c9edd5852cd905f086c759e8383e09bff1e68b3.png)USDe](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-365/deposit) | $134M | $1.7M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa3931d71877c0e7a3148cb7eb4463524fec27fbd.png)sUSDS![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-411/deposit) | $128M | $50M | ### Recently Launched Pools 11 new pools launched this week, adding over $1.3M in TVL. All pools with more than $100k in TVL are listed below. | Chain | Pool | TVL | | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----- | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/saint-rat/curve-assets/refs/heads/main/images/mseth.png)msETH![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x856c4efb76c1d1ae02e20ceb03a2a6a08b0b8dc3.png)OETH](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-374/deposit) | $418k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x57ab1e0003f623289cd798b1824be09a793e4bec.png)reUSD![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x085780639cc2cacd35e474e71f4d000e2405d8f6.png)fxUSD](https://curve.finance/dex/#/ethereum/pools/factory-stable-ng-414/deposit) | $282k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xbb30e76d9bb2cc9631f7fc5eb8e87b5aff32bfbd.png)scBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0x667fb239eaf755a9a5230b72003fd4635f3364ca.png)sBTC.b\_av](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-63/deposit) | $177k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xbb30e76d9bb2cc9631f7fc5eb8e87b5aff32bfbd.png)scBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xb86a2ac67a48df7b21a394d01b499302e84da65d.png)sBTCB\_b](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-65/deposit) | $169k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xbb30e76d9bb2cc9631f7fc5eb8e87b5aff32bfbd.png)scBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xbe80a171fc4a165a51e68dd28df96db4ea4ae667.png)scbBTC\_ba](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-66/deposit) | $133k | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/sonic.png "Sonic") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xbb30e76d9bb2cc9631f7fc5eb8e87b5aff32bfbd.png)scBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets-sonic/0xcb16a76850acab8f7d30ff1a95895a7adf230872.png)sWBTC\_e](https://curve.finance/dex/#/sonic/pools/factory-stable-ng-60/deposit) | $102k | ### Highest Fee Generating Pools | Chain | Pool | Fees | Volume | | ---------------------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------ | ------ | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/factory-tricrypto-1/deposit) | $54.1k | $29.8M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x6b175474e89094c44da98b954eedeac495271d0f.png)DAI![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.png)USDC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT](https://curve.finance/dex/#/ethereum/pools/3pool/deposit) | $38.3k | $479M | | ![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/chains/ethereum.png "Ethereum") | [![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xdac17f958d2ee523a2206206994597c13d831ec7.png)USDT![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0x2260fac5e5542a773aa44fbcfedf7c193bc2c599.png)WBTC![](https://raw.githubusercontent.com/curvefi/curve-assets/refs/heads/main/images/assets/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2.png)WETH](https://curve.finance/dex/#/ethereum/pools/tricrypto2/deposit) | $25.3k | $34.9M | --- Explore Yield Oppportunities [Go to DEX markets ](https://curve.finance/dex/ethereum/pools) [Go to Lending Markets ](https://curve.finance/lend/ethereum/markets) [Go to Savings crvUSD ](https://curve.finance/crvusd/ethereum/scrvUSD) ***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***](https://t.me/curvefi) ***or*** [***Discord***](https://discord.gg/twUngQYz85)***.*** ## 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](https://resources.curve.finance/risks-security/risks/pool/), [Llamalend Risk Disclaimer](https://resources.curve.finance/risks-security/risks/lending/), [crvUSD Risk Disclaimer](https://resources.curve.finance/risks-security/risks/crvusd/). ### crvUSD: 2 Years On URL: https://news.curve.finance/crvusd-2-years-on/ Last updated: 2025-05-14T15:04:22.000Z Today, 14 May 2025, marks the [second anniversary](https://etherscan.io/tx/0x5f501b4e420485ac3a18be3b88ad73413ac17ee45c776bb48cfd26902585e9fd) of **crvUSD** and six months since the [launch of **scrvUSD**](https://news.curve.finance/introducing-scrvusd/). Over this time, both systems have undergone multiple small refinements and are proving their resilience across diverse market conditions. Just this week, crvUSD reached a new all-time high supply of **$181 million**, demonstrating growing confidence in the design and utility of the protocol. ## **The Beginning: crvUSD Launch and LLAMMA** Launched on May 14, 2023, crvUSD entered the market as a truly decentralized and overcollateralized stablecoin. What set it apart from the start was its innovative liquidation mechanism, LLAMMA — offering a fresh alternative to traditional systems. Even now, crvUSD remains one of the most capital-efficient stablecoins available. Unlike other platforms where liquidations can be sudden and unforgiving, crvUSD is designed to **give borrowers more flexibility and stability**. With loan-to-value (**LTV) ratios of up to 91%,** users can borrow more against their assets while facing less disruption during periods of volatility. This makes crvUSD particularly attractive for advanced strategies or long-term positions. [Learn how it works here](https://resources.curve.finance/crvusd/liquidations/). --- ## **The Three Pillars of crvUSD Stability** crvUSD is built to be truly decentralized — with no centralized oracles and no manual interventions. Every aspect of the system is managed by smart contracts operating on transparent, permissionless logic. This ensures that crvUSD remains resilient, censorship-resistant, and credibly neutral — a stablecoin governed entirely by code and the DAO. - **Interest Rate Adjustments** Borrowing rates automatically drop when crvUSD trades above its peg and rise when it trades below peg. This creates self-correcting incentives that help balance supply and demand — without external interference. - **Stabilization Reserve (formerly PegKeepers)** The Peg Stabilization Reserve helps keep crvUSD close to $1.00 by adjusting the supply in Curve pools. When the price goes above $1.00, crvUSD is added to the pool; when the price falls below $1.00, crvUSD is withdrawn. These actions help balance the price — and anyone can trigger them through smart contracts. - **Savings-crvUSD (scrvUSD)** scrvUSD is the yield-bearing version of crvUSD. Users can deposit crvUSD into the Savings Vault to earn a share of the interest paid by borrowers. When the price of crvUSD drops below its peg, the yield on scrvUSD becomes more attractive — because borrowing rates increase, and so does the return for scrvUSD holders. This increased yield drives demand for scrvUSD, which theoretically leads users to buy crvUSD in order to deposit it — helping to restore the peg. --- ## crvUSD Supply Growth Two major catalysts have driven crvUSD supply growth even amid challenging DeFi market conditions: - The launch of **scrvUSD** - The launch of Convex and Yearn’s[**Resupply**](https://resupply.fi)Protocol Together these mechanisms enabled crvUSD to surpass previous supply highs and continue expanding. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/05/image-7.png) crvUSD 1 year supply changes --- ## Borrowing Rate Stability and Peg Strength Before scrvUSD, borrowing rates were quite volatile, rollercoasting up and down. A single large borrower could trigger sharp interest rate spikes by selling their borrowed crvUSD into the market. scrvUSD was specifically designed to stabilize this by increasing organic demand for crvUSD. As shown in the chart below, borrowing rates peaked shortly after scrvUSD’s introduction and have since settled at levels consistently below those of competitors like Aave’s USDT and USDC markets. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/05/image-8.png) 14 day moving average interest rate comparison of Aave's USDT and USDC borrow markets and crvUSD average borrow rates Similarly, scrvUSD materially tightened the crvUSD peg. Price volatility has steadily decreased since scrvUSD launched and making the peg around $1 very resilient. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/05/image-9.png) crvUSD 1 year peg chart, showing the strength after the introduction of scrvUSD What was once a premium lending product thanks to its soft-liquidation protection is now also a market leader in borrowing rate competitiveness and peg stability. At the same time, total crvUSD liquidity in the Stabilization Reserve (referred to as "pegkeeper liquidity" in the chart) has steadily increased, enabling the system to absorb greater borrowing demand without destabilizing the peg. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/05/image-12.png) Total crvUSD liquidity in the Stabilization Reserve (fromerly PegKeeper). --- ## scrvUSD Usage and Returns scrvUSD currently holds **20–30% of circulating crvUSD**, fluctuating with the prevailing staking APR. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/05/image-10.png) Amount of crvUSD which is staked in the savings-crvUSD vault. Since its launch, scrvUSD has delivered an approximate **3.8% total yield over six months** to depositors. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/05/image-11.png) Total yield earned by scrvUSD vault depositors ## Resupply as a crvUSD Sink The [**Resupply**](https://resupply.fi) protocol provided an additional sink for crvUSD, dramatically increasing the amount supplied into Llamalend via Resupply mechanisms. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/05/image-14.png) crvUSD supplied to Llamalend directly vs. supplied through Resupply --- ## Future Outlook While crvUSD was launched two years ago, its adoption, scaling, and development are far from complete. Both the technical foundation and the user interface are continuously evolving to make the borrowing experience as seamless and intuitive as possible. Some upcoming developments and expectations: - **More Markets** Creating lending markets on LlamaLend is fully permissionless — anyone can deploy a new market to borrow crvUSD (note: borrowing and not minting). - **LP Tokens as Collateral** New markets will soon make it possible to use liquidity provider (LP) tokens as collateral for borrowing (not minting!) crvUSD. For example, users will be able to borrow against Tricrypto LP tokens — a pool consisting of BTC, ETH, and USD. This mechanism will be used by [**YieldBasis**](https://x.com/yieldbasis), a protocol built a that plans to borrow crvUSD against LP tokens in order to maintain leveraged positions. > Note: This involves borrowing crvUSD from lending markets, not minting it. However, increased borrowing demand indirectly drives more minting of crvUSD.. - **Expansion of Resupply** The resupply mechanism continues to grow, helping to efficiently manage crvUSD distribution across lending markets. ### Curve & Cyfrin Updraft: Developer Certification Scholarships URL: https://news.curve.finance/curve-cyfrin-updraft-developer-certification-scholarships/ Last updated: 2025-05-15T08:38:32.000Z Curve Finance is collaborating with [Cyfrin Updraft](https://www.cyfrin.io/updraft) to further strengthen its DeFi leadership position and nurture developer talent. Building on the existing Curve-focused Updraft curriculum, we are now sponsoring Developer Certification Scholarships for ecosystem builders. Selected developers will receive vouchers to sit for Cyfrin Updraft’s SSCD+ Certification exam free of charge, enabling them to verify their expertise and gain priority access to future ecosystem opportunities. We’re also piloting the integration of Updraft Certifications into Curve’s hiring process to streamline recruitment and enable faster onboarding. --- ### **Key Highlights** - **Curve-Specific Courses:** Cyfrin Updraft’s specialized curriculum equips developers with protocol-specific skills, tailored to the Curve Finance ecosystem. - **Developer Scholarships:** Selected applicants will receive full scholarships to sit for Updraft’s SSCD+ Solidity certification exam, free of charge. - **May 13th Live Kickoff Event:** A live event on May 13 at 2 PM UTC will officially introduce the Scholarship Program, featuring Cyfrin CEO and Updraft’s lead educator [**Patrick Collins**](https://x.com/PatrickAlphaC), [**CurveCap**](https://x.com/curvecap), and the team from [**The Llamas**](https://x.com/WenLlama). The kickoff event will take place virtually in the [Curve Finance Discord](https://discord.com/invite/bnqrhgp9?event=1370338250841001994). - **Community-Driven Selection:** Scholarships will be distributed via community initiatives and a structured candidate selection pipeline in collaboration with The Llamas’ hiring platform [**Woolish.gg**](http://woolish.gg/), ensuring a fair and thorough selection of promising Curve developers. - **Solidity Now, Vyper Next:** The initial curriculum and certification focus on Solidity, but **a Vyper developer certification track is planned for later in 2025**, expanding the program to support multiple smart contract languages. Cyfrin Updraft and Curve Finance community share a commitment to empower the next generation of Curve builders. Aspiring Curve developers are encouraged to stay tuned for more details on how to participate and take advantage of these new opportunities. --- ### **Learn StableSwap & Vyper** Curious about how Curve's StableSwap works under the hood — or want to level up your Vyper skills? The free **Curve Stableswap Course** by [**ProgrammerSmart**](https://x.com/ProgrammerSmart), hosted on Cyfrin Updraft, covers everything from AMM math to smart contract implementation, plus Vyper and Python guides for all levels. ![](https://storage.ghost.io/c/84/bd/84bdf1ce-3211-4e56-85ff-6bf76cbb2657/content/images/2025/05/cyfrin-banner.png) _Truncated after 5 MiB. Use `/sitemap.xml` for the complete archive of public content._