Curve Best Yields & Key Metrics | Week 51
Weekly yield and Curve ecosystem metric updates as of the 20th December, 2024
Market Overview
Despite broader Crypto market headwinds, Curve has demonstrated resilience with TVL remaining stable at $2.337B. A notable development has been scrvUSD's impact on borrowing costs, with the average weekly borrow rate for crvUSD declining significantly from 19.7% to 14.4%, making it increasingly attractive for borrowers.
While borrow rates have decreased, scrvUSD interest rates have risen; following a recent DAO vote to increase revenue sharing, scrvUSD is now yielding 15.87% APY for holders - establishing itself as one of DeFi's safest high-yield options without rehypothecation risk.
This weekly update explores key opportunities across the Curve ecosystem, with a focus on yield generation and market dynamics.
Risk Advisory: References to specific pools or Llamalend markets do not constitute endorsements of their safety. We strongly encourage conducting personal risk analysis before engaging with any pools or markets. Please review our detailed risk disclaimers: Pool Risk Disclaimer, Llamalend Risk Disclaimer, crvUSD Risk Disclaimer.
Top Yields
Note: for pools with less than $100k TVL, the yield has been calculated as if the pool has $100k TVL.
Top Performing Pools by Asset Class
| Chain | Pool | Type | Yield |
|---|---|---|---|
 |
CrossCurve Stable 2 |
USD | 101.9% |
 |
 USD3 scrvUSD |
USD | 51.26% |
|
USD3 sDAI |
USD | 29.16% |
|
 zunBTC tBTC |
BTC | 137.5% |
|
CrossCurve BTC |
BTC | 34.47% |
|
 frxETH OETH |
ETH | 35.24% |
|
 zunETHfrxETH |
ETH | 16.07% |
 |
 CRV crvUSD |
CRV | 34.62% |
 |
 CRV vsdCRV asdCRV |
CRV | 22.4% |
|
 EURA EURT EURS |
EUR | 19.33% |
crvUSD & scrvUSD Yield Opportunities
| Chain | Market | Type | Yield |
|---|---|---|---|
|
USD3scrvUSD |
Pool | 51.26% |
|
 crvUSD wstETH |
LlamaLend | 40.57% |
|
crvUSD WETH |
LlamaLend | 32.67% |
|
crvUSD sFRAX |
LlamaLend | 28.39% |
|
 crvUSD WBTC |
LlamaLend | 28.39% |
|
 USDC scrvUSD |
Pool | 28.02% |
|
 TUSDcrvUSD |
Pool | 27.67% |
|
crvUSD zunUSD |
Pool | 27.48% |
Ecosystem Metrics
All changes (shown with + or -) represent the difference compared to values from one week ago.
crvUSD & scrvUSD Performance
scrvUSD yields have risen since last week after the DAO voted to increase the maximum revenue share from 20% to 50%. This positions scrvUSD as one of DeFi's highest-yielding and safest options for earning returns without rehypothecation.
| Metric | Value | Change |
|---|---|---|
| crvUSD Supply |
$77.9M | -0.73% |
| scrvUSD Yield |
15.87% APY | +1.43% |
| crvUSD inscrvUSD |
24.48% | +0.97% |
| crvUSD Peg |
$0.9982 | +$0.0001 |
Pool Statistics
| Metric | Value | Change |
|---|---|---|
| TVL | $2.166B | +0.84% |
| Volume | $3.031B | +14.28% |
| Transactions | 387,579 | -1.24% |
| Total Fees | $691.8k | -11.50% |
| DAO Fees | $345.9k | -11.50% |
crvUSD Loan Metrics
Due to strong buying pressure for scrvUSD, the weekly average borrow rate for crvUSD keeps falling. As crvUSD becomes one of the least expensive and safest stablecoins to borrow (due to liquidation protection), this should drive supply growth and gradually increase fee revenue - exactly as designed.
| Metric | Value | Change |
|---|---|---|
| Avg. Borrow Rate | 14.66% | -5.02% |
| crvUSD Borrowed | $77.4M | -1.35% |
| Collateral | $140.9M | -11.39% |
| Loans | 642 | +7 |
| Fees | $188.7k | -32.04% |
| Pegkeeper Debt | $0 | - |
LlamaLend Performance
While lending TVL has declined due to broader crypto market downturn affecting collateral values, actual loan activity remains stable with only a marginal 1% decrease (5 loans). Poor health management led to just 2 liquidations during this period.
| Metric | Value | Change |
|---|---|---|
| Lending TVL | $48.35M | -14.79% |
| Supplied | $32.64M | -1.99% |
| Borrowed | $23.3M | -4.74% |
| Collateral | $39.02M | -18.55% |
| Loans | 631 | -5 |
Notable Pool Activity
Highest Volume Pools
| Chain | Pool | Volume | TVL |
|---|---|---|---|
|
 DAI USDC USDT |
$624.1M | $167.6M |
|
 ETH stETH |
$579.4M | $189.2M |
|
 USD0USDC |
$246.8M | $64.2M |
|
sDAI sUSDe |
$197.8M | $41.8M |
Recently Launched Pools
New pools utilizing Ethena's USDtb stablecoin, which are backed by BlackRock's BUIDL fund, saw major growth this week. These new USDtb pools represented 2 of the 4 pools that crossed the $100,000 TVL threshold, starting from 0.
| Chain | Pool | TVL |
|---|---|---|
|
USDC USDtb |
$19.98M |
|
USDa sUSDa |
$5.037M |
|
 USDeUSDtb |
$164.3k |
|
zunBTCtBTC |
$140.8k |
Highest Fee Generating Pools
| Chain | Pool | Fees | Volume |
|---|---|---|---|
|
DAIUSDCUSDT |
$62.4k | $624.1M |
|
ETHstETH |
$57.96k | $579.4M |
|
WETH CVX |
$55.43k | $15.04M |
Most Profitable Pools
Note: Minimum $100k TVL, profitability is measured by fees per $1 of liquidity
Cryptoswap pools continue to dominate profitability rankings for LPs, with the WETH-CVX pool on Ethereum leading the way and bringing in around 8% of the total Curve pool fees for the week.
| Chain | Pool | Fees | TVL |
|---|---|---|---|
|
WETHCVX |
$55.43k | $13.04M |
 |
 CRV crvUSDBTCETH |
$9.488k | $2.572M |
|
WETH ASF |
$2.934k | $829.7k |
*Curve's ecosystem continues to expand rapidly, welcoming new teams and pools weekly. If you're interested in launching a pool, lending market, or simply want to connect with the community, join us on Telegram or Discord.