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Ahead of the Curve - October '24

Curve

• 8 min read

Another month of Curve in the books, featuring some impressive development updates.

The Curve Fee Splitter, necessary for st-crvUSD, is headed for a DAO vote, meaning it could be live as early as October.

The launch of $st-crvUSD will bring a native savings rate to Curve by redirecting some $crvUSD yield to stakers. This is intended as a liquidity sink to help $crvUSD stabilize rates and scale efficiently.

The dev team has been cracking, as this month also featured the publication of Curve Core, which would bring permissionless Curve deployment to any EVM chain, .

GitHub - curvefi/curve-core: Deploy a standardised set of smart contracts powering Curve.fi with a simple CLI command.
Deploy a standardised set of smart contracts powering Curve.fi with a simple CLI command. - curvefi/curve-core
GitHubcurvefi

Lending

As BTC-Fi becomes a major narrative and other platforms grow trepidatious about governance changes to WBTC, Curve has flexed the safety of Llama Lend's isolated markets to allow the protocol to roll out the red carpet to several Bitcoin wrappers.

Llama Lend is for more than just Bitcoin of course. The SOFA.org non-profit DAO boasted of a launch onto the lending protocol.

In total 49 separate markets have already been created, and Llama Lend now sits on four chains following this month's deployment to Optimism and Fraxtal.

The soft liquidation mechanism continues to rack up successful use cases of protecting user assets.

With so many markets on so many chains, there's increasing opportunity to learn how to perform liquidations.

The Titanoboa Llama Lend liquidation tutorial contains many examples of how to perform a variety of liquidations.

GitHub - curvefi/boa-tutorial
Contribute to curvefi/boa-tutorial development by creating an account on GitHub.
GitHubcurvefi

The past month even saw the first usage of the crvUSD Flashlender, which can also be utilized for liquidations.

As a reminder, in addition to the official Curve UI, the team at DeFi Saver also provide a great interface to $crvUSD and Llama Lend.

Continued adoption of $crvUSD throughout DeFi serves to boost the available sinks for the stablecoin. Inverse Finance this past month has been collaborating with Curve on crvUSD-DOLA LP tokens on FiRM

Meanwhile the $crvUSD - $MONEY pool has been enticing users on Arbitrum via points program. $MONEY is a stablecoin from defi.money, a team that operates an authorized fork of the crvUSD LLAMMA and directs a portion of revenues to the DAO.

Pools

The phenomenon of high APY pools, delivered by stableswap-v2's dynamic fee structure, continues to turn heads. Such as this $weETH / $WETH pool:

And USD3 pools earning 20%:

Perhaps this effect is in protocols minds as they launched several new pools this month.

On Arbitrum the $asdCRV wrapper has been playing with a unique design.

Despite dwindling users in a bear market, some great pockets of rewards have popped up. DeFi summer vibes?

For instance, several Arbitrum pools enjoyed some elevated rewards this month.

Vote efficiency is as high as $1.80 return on the dollar

With governance markets and so much activity, it amounts to a nice steady payday for veCRV holders.

More

Curve has been hosting a hackathon to bring the Stableswap to TON Blockchain.

TON Foundation Collaborates with Leading DEX Curve Finance to Incubate a TON-Based Stable Swap Project
TON Foundation, the non-profit organization accelerating the growth of The Open Network Blockchain (TON), has teamed up with Curve Finance, a leading DEX, to incubate a TON-based stable swap project.
TON BlogTON Society

Rumor has it it's generating a TON of interest.

Meanwhile, if you are interested in Curve merch, you may have some stylish choices hitting the market soon.

Finally, want to hear from your favorite Curve team members?

Well, no singing clips have surfaced yet. But Michael Egorov spoke at three events around Singapore.

β€œIt’s become evident that we need to pay more attention to Bitcoin as a DeFi asset, because that’s where the demand is.”

At the BTC ECO summit he demonstrated results showing off the superiority of Bitcoin as an asset for borrowing in LLAMMA.

At the Stablecoin Summit he delivered a fireside chat he talked plans for st-crvUSD, and expressed ambitions for Forex and eliminating impermanent loss without emissions.

At the main event, he delivered a talk entitled "Stablecoin Swaps: From jurisdictional arbitrage to FX Markets," showing off some considerations in price impact for Forex trading

Finally, Curve developer Alberto Centonze joined Leviathan News for a chat about developing st-crvUSD, and more.

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