Curve

About

Curve Finance is a leading on-chain AMM and stablecoin ecosystem on Ethereum and other networks. For lending and savings use cases around its native stablecoin crvUSD, Curve provides two complementary pillars: Curve Lending (LLAMMA markets) and Curve Savings (scrvUSD). Together, they let users and integrators access both flexible borrowing/lending markets and a simple, yield-bearing savings layer within the same crvUSD stack.

Curve Lending (LLAMMA markets) Curve’s lending layer (often referred to as LlamaLend or Curve Lend) is a set of isolated markets built around crvUSD. Users can deposit crvUSD into markets to earn interest from borrowers while borrowers supply collateral (e.g. WETH, tBTC, or other supported assets) and borrow crvUSD. These markets are powered by Curve’s LLAMMA (Lending-Liquidating AMM Algorithm), which replaces hard liquidations with “soft liquidations” that gradually rebalance collateral into crvUSD and back as prices move, aiming to reduce liquidation shocks and bad debt compared to traditional lending designs.

Curve Savings (scrvUSD) Curve Savings is the vault layer for crvUSD, exposed through the scrvUSD token. By depositing crvUSD into the Savings module, users receive scrvUSD — an interest-bearing stablecoin that accrues yield passively just by being held. No additional actions (staking, claiming, or compounding) are required; yield is continuously reflected in the scrvUSD balance or redemption value. Under the hood, the Savings Vault is implemented as a Yearn v3 multi-strategy vault that is optimised for low gas and constant available liquidity.

Across both Curve Lending and Curve Savings, the user flow is designed to stay simple. After depositing crvUSD, users begin accruing yield immediately according to the current market or Savings rate. When withdrawing, their position tokens (e.g. vault shares or scrvUSD) are burned and they receive the corresponding amount of crvUSD back, subject to pool liquidity when it comes to Curve lending.

Pending Actions

None

Considerations

• Limiting available Curve Lending yields
  • To avoid oversaturation of small yields, Yield API retrieves opportunities with the TVL >$10,000.
• Curve Lending naming
  • All Curve lending yields support crvUSD as the deposit token. To differentiate between them we include the market's collateral asset symbol in the yield name.
    • e.g. crvUSD Curve Lending (WETH) allows users to supply crvUSD to the crvUSD/WETH market where borrowers can post WETH as collateral in order to borrow crvUSD agains their position.
• Liquidity & withdrawal behavior
  • Withdrawals from Curve Lending are subject to pool liquidity — the withdrawals are immediate however, large withdrawals may depend on borrower utilization and amount of available crvUSD liquidity in the market.

List of Integration IDs

Curve Savings

Curve Lending

Ethereum

Arbitrum

Optimism