defi dex

Curve Finance

Curve DAO

Curve Finance is the largest stablecoin-focused DEX by liquidity. Its Stableswap invariant and crvUSD lending protocol (LLAMMA) anchor most efficient stablecoin liquidity flows on Ethereum and L2s.

Official site Documentation Updated today
Scale
Updated 1d ago
TVL
$6.2B
24h volume
$180.0M
crvUSD supply
$295M
veCRV locked
~$1.2B
Company

Curve DAO

Country
Decentralized
Founded
Jan 1, 2020
Structure
dao
Key people
  • Michael Egorov Founder
Timeline

Timeline

  1. Aug 13, 2020
    Curve mainnet launch
  2. Aug 14, 2020
    CRV token launch + veCRV
  3. Apr 1, 2022
    Curve V2 (crypto pools)
  4. May 17, 2023
    crvUSD launch
  5. Jul 30, 2023
    Vyper reentrancy exploit ($74M lost)
  6. Jul 30, 2024
    Egorov CRV liquidation event
Funding and investors

Funding and investors

Investors
DAO-governed (veCRV)
Products

Products

Own products
  • Stableswap pools
  • Curve V2 crypto pools
  • crvUSD
  • Curve Lend (LLAMMA markets)
  • Tricrypto pools
Integrations
  • Convex Finance
  • Yearn
  • Frax
  • Lido stETH
Stablecoins and chains

Stablecoins and chains

Stablecoins
usdt usdc dai crvusd frax
Chains
ethereum polygon arbitrum optimism base
Security and audits

Security and audits

Bug bounty (max): $250,000
Audits
  • Trail of Bits Mar 15, 2023 Curve V2 + crvUSD
  • MixBytes Apr 20, 2023 crvUSD LLAMMA
Historic incidents
  • !July 2023: Vyper compiler reentrancy bug led to $74M loss across Alchemix, JPEGd and Curve native pools. Curve DAO covered most affected users.
Risk notes

Risk notes

  • ● Vyper compiler dependency exposed in 2023
  • ● Egorov-CRV concentration risk
  • ● Complex LLAMMA edge cases
Competitors

Competitors

Uniswap V3Balancer Composable Stable PoolsMaverick
Resources

Resources

Notes

For deeper context on Curve Finance’s role in stablecoin commerce, see the blog and the stablecoins index.