Curve Finance’s latest weekly data shows selected stablecoin pools offering double-digit estimated yields while lending and DEX activity moved in different directions. The highest highlighted USD pool for Week 38 was sUSG/reUSD on Ethereum at 15.1% estimated APR, followed by frxUSD/sUSDai at 13.5% and reUSD/sDOLA at 9.9%.
According to Curve’s official Week 38 yield and metrics report, the figures are snapshots based on current incentives, recent LP performance and modeled deposit sizes rather than fixed future returns. The update continues the protocol’s weekly monitoring cycle after earlier yield data showed similarly fluid pool rankings.
Stablecoin Pools Lead Selected Yields
Stablecoin markets occupied most of the highest-yielding positions. Ethereum’s sUSDx/USDx pool offered an estimated 9.6% APR, while a Fraxtal frxUSD/FXB20551231 market showed 9.3% and Ethereum’s frxUSD/USD3 reached 8.3%. Curve warned that incentive values, token prices and withdrawal liquidity can materially change realized returns.
Lending yields were lower. The leading highlighted Llamalend supply market paired crvUSD lending with svZCHF collateral at 6.2% APR, followed by USDC against wstETH on Optimism at 6.0% and crvUSD against syrupUSDC at 4.8%. Markets with reported bad debt were excluded from Curve’s selected list.
Curve’s broader lending system held $252 million in TVL, down 2.6% week over week. Borrowed assets stood at $142 million while supplied assets reached $94.3 million, with 1,165 active loans recorded in the dataset. Those figures provide additional context for the protocol’s LLAMMA-based soft-liquidation model, which manages stressed collateral progressively rather than relying exclusively on immediate liquidation.
Curve DEX Volume Falls as Fees Rise
Trading activity produced a mixed operational picture. Indexed DEX volume fell 13.1% to $674 million, even as the number of indexed swaps increased 13.2% to 395,000 and trading fees rose 11.4% to $156,000. Curve cautioned that these figures cover ten indexed chains and exclude unindexed activity, meaning they are not complete all-chain totals.
crvUSD metrics also shifted during the week. Average borrowing APY rose one percentage point to 3.6%, while mint-market debt stood at $73.3 million at the Thursday snapshot and subsequently climbed to $77.8 million. The crvUSD oracle price remained close to parity at $0.9998, while mint borrowing fees increased 42.9% week over week to $43,500.
Outside dollar-denominated markets, the CRV/cvxCRV Pool 22 carried the highest highlighted estimated yield at 29%, while ETH+/WETH offered 6.3% for ETH exposure and cbBTC/WBTC showed 3.5% for BTC exposure. Those rates cannot be compared directly with stablecoin yields because the underlying price exposures and risk structures differ. For liquidity providers, the next Week 39 snapshot will show whether the current double-digit USD yields persist once incentives, liquidity and trading activity adjust.