Curve Best Yields & Key Metrics | Week 51

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

crvUSD & scrvUSD Yield Opportunities

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.

Pool Statistics

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.

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.

Notable Pool Activity

Highest Volume Pools

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.

Highest Fee Generating Pools

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.

*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.