Jul 30, 2026 3:41 PM
Updated Jul 31, 2026 9:18 AM
This article was originally published by Nik on Curve News.
Curve Best Yields & Key Metrics | Week 31, 2026Weekly yield and Curve ecosystem metric updates as of the 30th July, 2026
Top Yields: 1st. frxUSD/USP Pool on Ethereum with >100% Yield, 2nd. sdUSD/frxUSD Pool on Ethereum with 19.4% Yield, 3rd. sUSG/reUSD Pool 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 the syrupUSDC/crvUSD Llamalend V2 marketDisable the Odos router on Leverage-Zap contracts across all supported chains following the announcement that Odos is winding down.
Top Yields
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 |
|---|---|---|---|
 |  frxUSD  USP | Pool | 304.8% |
|  sdUSD frxUSD | Pool | 19.4% |
|  sUSG  reUSD | Pool | 19.0% |
|  VUSD  crvUSD | Pool | 14.9% |
|  USG  sDOLA | Pool | 12.1% |
|  USD3  sUSDe | Pool | 11.7% |
|  fxUSD frxUSD | Pool | 11.2% |
| USD3  sUSDS | Pool | 11.1% |
| crvUSD sDOLA | Llamalend | 10.7% |
 |  frxUSD  USDp | Pool | 10.4% |
Top BTC & ETH Yields
| Chain | Market | Asset | Yield |
|---|---|---|---|
|  ynETHx  WETH | ETH | 4.2% |
|  ETH+ WETH | ETH | 4.0% |
|  msETH WETH | ETH | 3.9% |
|  WBTC  cbBTC  hemiBTC | BTC | 3.3% |
 |  cbBTC  WBTC  LBTC | BTC | 2.9% |
| cbBTC WBTC | BTC | 0.9% |
Other Top Yields
| Chain | Market | Asset | Yield |
|---|---|---|---|
|  CRV  sdCRV | CRV | 15.7% |
 |  CRV  crvUSD | CRV | 11.3% |
 |  EURe  WXDAI  USDC  USDT | FOREX | 7.3% |
| crvUSD  CJPY | FOREX | 6.1% |
|  GHO cbBTC WETH | TRICRYPTO | 5.9% |
| crvUSD  ZCHF | FOREX | 3.9% |
|  XAUt  PAXG | GOLD | 0.3% |
Top Llamalend Supply Yields
| Chain | Market | Supply Rate |
|---|---|---|
| Optimism | USDC/wstETH | 7.7% |
| Optimism | USDC/WBTC | 7.4% |
| Arbitrum | crvUSD/WBTC | 6.9% |
| Ethereum | crvUSD/sDOLA | 6.8% |
| Arbitrum | crvUSD/WETH | 6.7% |
| Optimism | WETH/wstETH | 3.3% |
| Ethereum | crvUSD/wstETH | 3.3% |
| Ethereum | crvUSD/sUSDe | 2.6% |
| Ethereum | crvUSD/sfrxUSD | 2.3% |
| Ethereum | crvUSD/WBTC | 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 |
|---|---|---|
| crvUSD Minted | $36.6M | +8.0% |
 scrvUSD Yield | 1.0% | -0.2% |
| crvUSD in scrvUSD | 52.4% | -3.8% |
| crvUSD Price | $0.9993 | -$0.0003 |
| Avg. Borrow Rate | 2.0% | - |
| Peg Stability Reserves | $33.8M | - |
| 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 |
|---|---|---|
| CRV Circ. Supply | 1.54B | +0.2% |
| CRV Locked | 851M | - |
 Total veCRV | 784M | - |
| veCRV Distribution | $68.4k | +0.8% |
| veCRV APR | 2.184% | +0.047% |
| CRV Emissions | $460k (2.22M CRV) | -3.1% |
| 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 | - | |  DAI  USDC  USDT | $74.1M | $11.1k |
| 2 | +16 | |  PYUSD USDC | $62.7M | $6.6k |
| 3 | - | |  USDG USDC | $35.3M | $3.6k |
| 4 | +17 | | USDC  sUSDat | $32.0M | $4.3k |
| 5 | +2 | | USDT crvUSD | $27.9M | $2.8k |
| 6 | - | | USDC  USDat | $26.7M | $2.7k |
| 7 | +3 | | USDC crvUSD | $20.8M | $2.1k |
| 8 | -6 | | USDC USDT | $17.3M | $384.3 |
| 9 | +4 | |  apxUSD USDC | $16.2M | $52.9k |
| 10 | +14 | |  WETH  USDC | $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 | - | | USDC WBTC WETH | $6.1M | $3.2k |
| 2 | - | | USDT WBTC WETH | $6.0M | $3.5k |
| 3 | - | | EURe WXDAI USDC USDT | $5.7M | $2.0k |
| 4 | - | | crvUSD WETH CRV | $3.3M | $1.7k |
| 5 | +3 | | WETH  CVX | $1.2M | $4.4k |
| 6 | -1 | | ETH+  eUSD  RSR | $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 | |  FT  ftUSD | $2.82k | 5.72k | +5.72k |
| 2 | | VUSD crvUSD | $225k | 4.37k | +2.36k |
| 3 | |  OETH WETH | $42M | 91.8k | +1.03k |
| ... | ... | ... | ... | ... | ... |
| -3 | | frxUSD crvUSD | $12.4M | 72.8k | -441 |
| -2 | |  FRAX USDC | $2.17M | 9.91k | -1.9k |
| -1 | | ftUSD USDC | $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 | | WETH USDC | $14M | $27.9k | +$16k |
| 2 | | PYUSD USDC | $62.7M | $6.62k | +$5.55k |
| 3 | | USDC sUSDat | $32M | $4.27k | +$3.4k |
| ... | ... | ... | ... | ... | ... |
| -3 | | DAI USDC USDT | $74.1M | $11.1k | -$3.31k |
| -2 | | USDC  RLUSD | $10.9M | $2.22k | -$4.35k |
| -1 | |  apyUSD apxUSD | $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 | | PYUSD USDC | $62.7M | $6.62k | +$52.3M |
| 2 | | USDC sUSDat | $32M | $4.27k | +$24M |
| 3 | | WETH USDC | $14M | $27.9k | +$8.01M |
| ... | ... | ... | ... | ... | ... |
| -3 | | DAI USDC USDT | $74.1M | $11.1k | -$22.1M |
| -2 | | WETH  weETH | $10.4M | $566 | -$28.1M |
| -1 | | USDC USDT | $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 |  |  LUAUSD  USDC.e  USD₮0 | $17.1M | +$13.4M |
| 2 | |  strUSD  trUSD | $10M | +$10M |
| 3 | | trUSD USDC | $6.17M | +$6.17M |
| ... | ... | ... | ... | ... |
| -3 | | frxUSD  msUSD | $13.6M | -$3.05M |
| -2 | | USDC USDat | $9.75M | -$5.15M |
| -1 | | FRAX  USDe | $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 | | crvUSD  wstETH | $22.4M | $10.4M | +$1.82M |
| 2 | | crvUSD cbBTC | $3.67M | $2.34M | +$531k |
| 3 | | crvUSD WBTC | $35M | $17.3M | +$319k |
| ... | ... | ... | ... | ... | ... |
| -3 | | crvUSD  sfrxETH | $308k | $154k | -$1.2 |
| -2 | | crvUSD WETH | $3.42M | $1.73M | -$2.27k |
| -1 | | crvUSD  tBTC | $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 | | crvUSD sDOLA | $635k | $592k | +$542k |
| 2 | | crvUSD  sfrxUSD | $398k | $272k | +$271k |
| 3 | | crvUSD wstETH | $1.19M | $948k | +$84.8k |
| ... | ... | ... | ... | ... | ... |
| -3 |  |  USDC  WBTC | $1.16M | $617k | -$49.4k |
| -2 | | crvUSD  fxSAVE | $1.24M | $280k | -$88.3k |
| -1 | | crvUSD WBTC | $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 | | crvUSD fxSAVE | $1.24M | $280k | +$871k |
| 2 | | crvUSD sDOLA | $635k | $592k | +$576k |
| 3 | | crvUSD sfrxUSD | $398k | $272k | +$393k |
| ... | ... | ... | ... | ... | ... |
| -3 | | crvUSD sfrxUSD | $16.5M | $12.8M | -$162k |
| -2 | | crvUSD WBTC | $4.06M | $3.21M | -$169k |
| -1 | | crvUSD  sreUSD | $23.9M | $18.2M | -$728k |
Explore Yield Oppportunities
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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, Llamalend Risk Disclaimer, crvUSD Risk Disclaimer.
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