curve finance07
$crv
MCAP630.53M
+7.93%

what's curve finance?

Curve Finance is a decentralized exchange (DEX) protocol designed primarily for efficient trading of stablecoins and other low-volatility assets. It operates on an automated market maker (AMM) model optimized for minimal slippage and low fees, using a specialized bonding curve mechanism that concentrates liquidity around price pegs. This makes it particularly suitable for swapping between assets like USDC, USDT, and DAI, while also supporting wrapped assets and synthetic tokens across multiple blockchain networks. The protocol's governance is facilitated through the CRV token, which holders can lock into veCRV to participate in voting on pool parameters, fee distributions, and protocol upgrades. Liquidity providers earn trading fees boosted by incentives from CRV emissions, encouraging deep liquidity in stable pools. Curve has expanded beyond Ethereum to include layer-2 solutions and other chains, enhancing scalability and interoperability. In addition to swaps, Curve has developed lending markets and a native stablecoin called crvUSD, which uses overcollateralized loans and liquidation mechanisms to maintain stability. The ecosystem emphasizes capital efficiency and yield optimization for DeFi users, integrating with other protocols for composability.

Snapshot

crvUSD accepted for SQUID Pass bids; Curve also received a 250k OP grant in late 2025.

contract

ethereum

optimistic-ethereum

fantom

energi

sora

base

polygon-pos

arbitrum-one

1D ago
MARKET ACTIVITY

crvUSD is accepted as payment for SQUID Pass auction bids on Ethereum Mainnet alongside WETH.

FINANCIAL EVENT

Received a 250,000 OP grant in Q3-Q4 2025.

2W ago
VISIBILITY EVENT

Listed as a recommended protocol to learn about veToken, Bribe, and Stable AMM mechanisms in a DeFi educational guide.

PARTNERSHIP

Receives Ethereum key management support from Internet Computer (ICP/Dfinity).

VISIBILITY EVENT

Nominated for the Defi Excellence Award with the winner to be announced on 2025-12-30.

3W ago
ONCHAIN METRICS

Accounts for 44.06% of all DEX fees on Ethereum as of December 18, 2025.

1M ago

Stake DAO's Curve Finance strategies TVL reaches over $150M, up from $34M one year ago, with the frxUSD/crvUSD strategy alone holding $31M.

Reserve Protocol's ETH+ pool lending markets go live with Gearbox integration, offering 10x leveraged LP positions with Beefy Finance auto-compounding and Convex Finance boosted rewards.

YB Liquid Locker launches alongside YB Votemarket deployment, while Staking V2 grows following new vote incentives on crvUSD Pegkeepers.

A proposal suggests allocating one-third of DAO fee revenue (excluding vote incentives) for development budget instead of treasury CRV grants. Inverse Finance and Frax Finance migrate vote incentives to Votemarket.

During Bitcoin price movements, crvUSD ranks as the #1 token by volume on Curve, as it has the most liquid BTC pairs on-chain.

A governance proposal requests 17.45M CRV token grant to Swiss Stake AG for technology development.

Curve is identified as one of the top-performing cryptocurrencies in the past 7 days, grouped within the Ethereum scaling, infrastructure, and DeFi narrative category.

Yield Basis activates fee switch and distributes 17 BTC (~$1.6M) in revenue from leveraged Curve strategies after $130M Bitcoin deposits. cbBTC pool including crvUSD doubles from $100M to $200M TVL.

Curve DAO approves increasing the YieldBasis crvUSD credit line from 300M to 1B, which generates additional crvUSD demand, volume, and fees for the DAO.

Curve Finance updates crvUSD borrow rates by increasing TargetFraction and lowering the base rate to reduce volatility ahead of Llamalend V2 launch, making borrowing smoother and cheaper.

Curve Finance started adding support for FX (foreign exchange) pairs, expanding beyond traditional crypto trading pairs.

Spark Protocol services fintechs and exchanges with Stablecoin-Liquidity-as-a-Service using Curve for market making that imports $4.3B USDC liquidity, with examples including PYUSD, Coinbase, and Avalanche spUSDC.

Curve Finance holds the #18 position in DeFi TVL rankings for Dec 2025, up one spot year-over-year from #19 in Dec 2024.

Stable Eco integrates Curve Finance as a supported protocol in its first batch of integrations. crvUSD ranks #1 by trading volume on Curve.

Current Votemarket round distributes $808K in rewards across 79 campaigns for veCRV voters involving 26 participating protocols.

YB Curve pool and YB LEVAMM process approximately $2M in tBTC volume through 10 transactions.

Curve ranks among the top 15 DeFi protocols by TVL growth in the last 30 days, positioned as a top performer in this key metric.

Curve Finance ranks 8th in development activity among Ethereum-based projects with improved positioning since last month according to Santiment's GitHub activity data.

Yieldbasis launches sdYB/YB campaign on Votemarket where sdYB fees buy veCRV votes for the gauge, distributing $18K this week at an estimated 89% APR in WBTC rewards to stakers.

Curve Finance launches partnership with XDC Network featuring ~145% APY yields backed by $59k in incentives for liquidity providers.

A whale buys $295K worth of CRV tokens (753,625 CRV) during market dip alongside $13.9M in other DeFi assets.

Work begins on MonetaryPolicy updates for crvUSD to create smoother, less volatile borrow rates following receipt of a credit line, with @in_pangea supporting a gradual scaling approach.

A new hemiBTC/WBTC/cbBTC tripool goes live featuring 1.6% native yield, 0.6% deposit bonus for hemiBTC, and 160% CRV incentives through integration with Hemi Network.

The Ethereum Protocol Advocacy Alliance launches with Curve Finance as a founding member alongside six other major DeFi protocols (Aave, Aragon, Lido, Spark, The Graph, and Uniswap Foundation) to coordinate policy efforts protecting Ethereum's neutrality and ensuring global regulation supports open innovation.

Yearn's yETH vault suffers a $9M exploit that drains Curve pools after attacker mints infinite yETH and routes 1,000 ETH through Tornado Cash, with team recovering $2.4M in pxETH.

A governance vote proposes increasing crvUSD allocation to Yield Basis from 300M to 1B.

Curve debuts FXSwap through a pilot CHF-USD liquidity pool on mainnet, integrating Frankencoin's ZCHF and crvUSD with CRV emissions.

Monad subsidizes Curve's Bitcoin Converter pool with 30k MON daily incentives at $2.3m TVL delivering 15% APR, and the AZND/AUSD stablecoin pool prints 30%+ APR with rewards claimable on Merkl.

Curve founder Michael Egorov announces Yield Basis, a prospective solution to address impermanent loss for DeFi liquidity providers.

A new gold-backed stablecoin pmUSD from Raacfi integrates with Curve Finance for secure pooling, tokenized by Instruxi and Chainlink.

Protocol revenue this month hits highest level since 2022, marking a 10X increase from mid-2023 lows.

New markets launch on Monad blockchain with Curve Finance leverage LP positions offering up to 12X credit, $20M+ in liquidity, and 100%+ APRs. The Curve pool caps have already been reached due to high demand.

The first pilot foreign exchange liquidity pool (CHFUSD) goes live on Ethereum using the new FXSwap algorithm, partnering with Frankencoin ZCHF and offering up to 100% APR in CRV emissions.

CRV ranks as the #1 daily crypto gainer on April 12, 2025 according to CoinMarketCap data.

The YB/sdYB liquidity pool deploys on Convex Finance with 95% projected APR and boosted CRV emissions.

The frxUSD PegKeeper pool for crvUSD crosses $30M TVL milestone with up to 14% APR available.

CRV rewards start streaming for the sdYB/YB liquidity pool after successful gauge vote approval, with Stake DAO offering boosted rewards.

Curve Finance shifts positioning from "home of stablecoins" to FX engine for onchain money, serving as a clearing venue where different onchain dollars clear at scale.

YieldBasis' upcoming governance proposal activates Fee Switch, distributing 17.13 BTC (~$1.578M) in captured fees to veYB holders while enhancing YB utility across Curve DAO and crvUSD.

Stake DAO's sdYB/YB liquidity pool goes live with an ongoing gauge vote to enable CRV rewards for the pool.

Asymmetry Finance integrates Votemarket's Liquidity Mining Hook feature, redirecting unspent veCRV vote incentives to boost afCVX/CVX gauge rewards on Stake DAO.

Curve Finance operates liquidity pools on Monad network with Merkl rewards, including a MON pool (wMON, shMON, sMON, gMON) offering 200% APR in incentives and an ETH pool (WETH, wstETH, weETH) offering 128% APR in incentives.

Curve Finance provides enhanced liquidity for Almanak's alUSD token as part of live integrations ahead of Almanak's December TGE.

FXSwap deploys on Curve Finance. Votemarket activity shows $786K deployed across 74 Curve campaigns and $29K across 4 protocol_fx campaigns.

Yearn's yETH product suffers an $8-9M exploit on November 30, 2025, draining approximately $900K from the yETH-WETH Curve pool as secondary impact through an infinite mint vulnerability attack.

A pool deployment error using incorrect asset type configuration (type 0 instead of 4626) enables arbitrage exploitation causing 20:1 pool imbalance, with 166k in gauge rewards remaining locked for a 30-day epoch.

Multiple fake Curve Finance group chats exist on X, Discord, and Telegram attempting to scam users.

A governance proposal seeks to increase transaction fees for the stUSDS-USDS pool from 1 basis point to 100 basis points, citing mispricing of liquidity risk and the asset's distressed profile.

A replacement USDS/stUSDS pool deploys with 500,000 USDS in three-month incentives to function as the stUSDS discount market, while the old sUSDS/stUSDS pool shifts to boosted rewards.

Curve Finance is among the top volume contributors on Monad network DEXes, which collectively process $100m+ in daily spot volume since launch.

The recently launched sUSDS/stUSDS pool has a configuration error preventing deep liquidity provision and will be replaced with a new properly configured USDS/stUSDS pool supporting ERC4626; the misconfigured pool currently offers 55% yield as an unintended stUSDS farm.

The stUSDS discount market achieves successful bootstrap on Curve, with current discount rates ranging from 4-6%.

The sUSDS/stUSDS pool now offers 500,000 USDS in incentives distributed over three months for liquidity providers, who can earn from both the incentive program and swap fees.

Two experimental Curve pools launch for HAI/BOLD pair using StableswapNG and Cryptoswap configurations, with the stableswap pool achieving over 50% liquidity utilization.

A Curve pool for stUSDS and sUSDS goes live, providing an exit mechanism for stUSDS holders willing to accept a discount below par value.

Protocol_fx passes a proposal to pair fxUSD with frxUSD on Curve Finance.

vlCVX delegation to Stake DAO reaches 5.1 million votes with automated optimization across Votemarket and Votium platforms, distributing weekly rewards in raw tokens or crvUSD.

Pegkeeper pools reach $50M in TVL with max-boosted CRV rewards available through Stake DAO integration.

A forum proposal requests incentivizing a Curve pool for stUSDS/USDS as depositor flight maintains 100% utilization with gated withdrawals, while also proposing to lower liquidation LTV to 120% from 145% with the largest borrower (~$62m across four vaults representing 2/3 of market) controlling parameters and facing 28% interest rates.

Rabby wallet now supports Curve Finance on Monad, allowing users to track their assets and DeFi positions in the wallet.

Curve revenues reach levels last seen at prior all-time high of $6+ price levels, and the protocol has one of the highest stablecoin TVL positions on Monad Mainnet with over 100M total stablecoin TVL across all protocols.

Ethereum mainnet gas limit increases to 60MM gwei, enabling faster complex transactions and more accurate pricing for DeFi protocols including Curve Finance.

StakeDAO launches a new cbBTC/WBTC yield strategy that uses the Curve ecosystem infrastructure to boost rewards for yoBTC holders and BTCfi assets.

Three new pegkeeper incentive campaigns are now active on Votemarket with $136K total rewards ($56K crvUSD/frxUSD, $40K crvUSD/USDC, $40K crvUSD/USDT), allowing veCRV holders to earn YB and wFRAX tokens.

Almanak's alUSD vault token ($124M TVL, ~13.5% APY) has a liquidity pool on Curve where LPs earn 3x Almanak points redeemable for $ALMANAK tokens at TGE.

Curve Finance is available as a DEX on Monad Mainnet launching at 15:00 UTC (9:00 ET).

A 1inch report finds 83-95% of capital in major pools including Curve sits unused and earns no fees, with $12 billion in DeFi liquidity remaining idle.

A proposal raises the Yield Basis credit line to 1B crvUSD to support up to $500M TVL, with the line drawn in stages rather than all at once.

AMAs are scheduled for Nov 25 (Russian-speaking) and shortly after (English-speaking) to address community questions about recent developments on Yield Basis and Curve Finance.

crvUSD experiences increased volatility and peg deviation following the Yield Basis launch according to Pangea article findings, though no causal relationship is established.

A new veCRV Votemarket campaign launches with Stake DAO depositing $14K to boost sdCRV/CRV liquidity through incentivized voting.

4.88M vlCVX are delegated to Stake DAO with weekly rewards available as direct tokens or swapped to scrvUSD.

Convex continues to rely on manual operational processes without automation after years of operation, creating a systemic dependency risk where issues with the Convex team threaten both Convex and Curve platforms.

Gauge vote proposals contain an error and are recreated, requiring all voters to cast their votes again for the current epoch.

Curve Ecosystem Grant releases quarterly progress report highlighting core protocol developments and strengthening cross-chain capabilities.

New liquidity pool pairs MetronomeDAO's msUSD stablecoin with frxUSD with incentives now available on the platform.

Cloudflare-related outage causes accessibility issues on platform with users unable to access funds and receiving Internal Server Errors.

A governance proposal submits to increase yieldbasis credit line to 1 billion crvUSD with gradual utilization planned.

crvUSD becomes third largest stablecoin by volume on Ethereum behind USDC and USDT while maintaining top trading volume on Curve.

Yieldbasis pools integration enables BTC mint markets to access leveraged trading directly on Curve.

Whale holding large crvUSD minting position enters liquidation protection mode below liquidation price.

Etherlink integration launches on Stake DAO with two Curve Finance boosted strategies offering instant claimable CRV rewards through Staking V2 and OnlyBoost infrastructure.

New ynRWAx/fxUSD pool goes live with 11% ynRWAx APY, 5.4% base vAPY, 21%-53% CRV tAPR, and 232% APR boosted yield via StakeDAO.

2M ago

ynRWAx/USDC pool launches on Curve offering 53%-131% CRV tAPR with additional 66% APR boost through StakeDAO and 11% base ynRWAx APY.

Aave votes to remove CRV as borrowing collateral and set LTV to zero after attackers drain $200K during the October crash by exploiting oracle lag that showed $0.21 on Chainlink while onchain price remained at $0.36. CRV generates only $80K annual borrows on Aave, making it high risk with minimal revenue.

Curve Finance launches Ethereum Protocol Advocacy Alliance (EPAA) with Aave, Lido, Uniswap, The Graph, Spark, and Aragon to coordinate policy efforts for onchain infrastructure, collectively securing $100B+ in assets across 7 protocols.

Votemarket round for veCRV gauge voting shows $650K deposited across top gauges with 811K $CRV incentives directed to boosted strategies, led by Metronome DAO ($120K), MIM Spell ($87.6K), and Origin Protocol ($82K).

YieldNest begins first wave of high APY opportunities tomorrow, including Curve Finance markets.

Curve Finance records $11B volume in October, marking a 6-month high, with current TVL at $2.34B.

A U.S. Senate bill discussion draft provides regulatory framework that would allow protocol-level fee switches and revenue-sharing mechanisms to operate under CFTC commodity rules rather than SEC securities regulations, with safe harbor protections for DeFi protocols and DAOs. The bill specifically names Curve as a protocol whose smart-contract revenue sharing would not constitute broker-dealer activity.

Yieldbasis reports $500K October profit for YB stakers (pending fee switch activation) and plans TVL cap increase from $150M to $500M following imminent contract migration, with Curve generating $1M profit in October; YB team and investor token unlocks begin April 1st.

Curve Finance vaults integrate with Superform v2 on Arbitrum, allowing users to deposit from any chain into Curve vaults through the platform alongside other DeFi protocols including Aave, Morpho, Euler, Fluid, and Yearn.

CRV incentives launch on Etherlink for mMEC/USDC and USDT/USDC pools via Votemarket campaigns, with boosted strategies in development. Over $20M flows into the USDT/crvUSD pool through Stake DAO boosted strategies.

LlamaRisk, the Curve community risk control team, proposes disabling all Gauges in the Elixir marketplace.