crvUSD is Curve Finance's native stablecoin featuring the innovative LLAMMA mechanism for soft liquidations. This AMM-based approach gradually converts collateral instead of sudden liquidations, providing better capital efficiency and user experience.
Market Cap
$292.3M
Peg Deviation
+0.500%
Regulatory Grade
C+
Regulatory Score
58/100
Issuer & Reserve Details
Issuer
Curve Finance
Issuer Type
Decentralized DAO
Treasury Transparency
On-Chain
Backing Type
Crypto-Collateralized
Reserve CompositionBacked by crypto collateral (sfrxETH, wstETH, WBTC, ETH, tBTC). Uses LLAMMA (Lending-Liquidating AMM Algorithm) for soft liquidations instead of hard liquidation auctions.
Peg MechanismLLAMMA gradually converts collateral to crvUSD as price drops (soft liquidation) and back as price rises. PegKeeper contracts stabilize via Curve pools.
Regulatory Scorecard
Reserve CompositionCrypto-collateralized (not GENIUS compliant)
Partial11/20
Audit & TransparencyReal-Time (On-Chain) audits by Trail of Bits, Quantstamp, MixBytes
Partial15/20
Redemption RightsCrypto-only redemption
Partial11/15
Issuer LicensingNo traditional license (DAO)
Non-Compliant2/15
Consumer ProtectionConsumer protections in place
Partial9/15
CLARITY ClassificationCrypto-backed — not a permitted payment stablecoin
Partial10/15
Reserve Assets
Overcollateralized Crypto
Audit Frequency
Real-Time (On-Chain) by Trail of Bits, Quantstamp, MixBytes
Redemption
Instant (On-Chain)
License
DAO / No License
Classification
Crypto-Collateralized
Backing Ratio
140%
Top Yields for CRVUSD
Source: DeFiLlama
| Platform | Chain | Type | Yield Source | APY | TVL | Safety | Links |
|---|---|---|---|---|---|---|---|
 convex-finance Audited |  Ethereum | DeFi | Vault Strategy | 48.36% | $4.1M | B · 55 Risk score 55/ 100 B — Moderate confidence 39% Smart Contract68 1 audit(s); recent (≤18mo) found Issuer / Asset· low conf50 No issuer-risk data on this pool Peg Stability· low conf50 No peg-history context provided Liquidity & Exit45 TVL ≥ $1M (small) Counterparty· low conf50 Protocol "convex-finance" not in v1.0 permissionless list — neutral default Chain95 Chain "ethereum" base score 95 (v1.0 lookup) Oracle & Bridge· low conf55 No oracle dependencies tracked Regulatory· low conf50 No issuer-risk data on this pool Sustainability· low conf50 No sustainability data Counter-Stress· low conf42 v1.0 proxy — proper stress-test engine in Phase 2 follow-up Model v1.0.0Higher = safer | |
 beefy | Ethereum | DeFi | Unknown | 45.04% | $1.3M | B · 52 Risk score 52/ 100 B — Moderate confidence 32% Smart Contract· low conf50 No audit data available Issuer / Asset· low conf50 No issuer-risk data on this pool Peg Stability· low conf50 No peg-history context provided Liquidity & Exit45 TVL ≥ $1M (small) Counterparty· low conf50 Protocol "beefy" not in v1.0 permissionless list — neutral default Chain95 Chain "ethereum" base score 95 (v1.0 lookup) Oracle & Bridge· low conf55 No oracle dependencies tracked Regulatory· low conf50 No issuer-risk data on this pool Sustainability· low conf50 No sustainability data Counter-Stress· low conf42 v1.0 proxy — proper stress-test engine in Phase 2 follow-up Model v1.0.0Higher = safer | |
 stake-dao | Ethereum | DeFi | Unknown | 40.89% | $3.5M | B · 52 Risk score 52/ 100 B — Moderate confidence 32% Smart Contract· low conf50 No audit data available Issuer / Asset· low conf50 No issuer-risk data on this pool Peg Stability· low conf50 No peg-history context provided Liquidity & Exit45 TVL ≥ $1M (small) Counterparty· low conf50 Protocol "stake-dao" not in v1.0 permissionless list — neutral default Chain95 Chain "ethereum" base score 95 (v1.0 lookup) Oracle & Bridge· low conf55 No oracle dependencies tracked Regulatory· low conf50 No issuer-risk data on this pool Sustainability· low conf50 No sustainability data Counter-Stress· low conf42 v1.0 proxy — proper stress-test engine in Phase 2 follow-up Model v1.0.0Higher = safer | |
convex-finance Audited | Ethereum | DeFi | Vault Strategy | 26.97% | $374,888 | B · 53 Risk score 53/ 100 B — Moderate confidence 39% Smart Contract68 1 audit(s); recent (≤18mo) found Issuer / Asset· low conf50 No issuer-risk data on this pool Peg Stability· low conf50 No peg-history context provided Liquidity & Exit25 TVL < $1M (very small) Counterparty· low conf50 Protocol "convex-finance" not in v1.0 permissionless list — neutral default Chain95 Chain "ethereum" base score 95 (v1.0 lookup) Oracle & Bridge· low conf55 No oracle dependencies tracked Regulatory· low conf50 No issuer-risk data on this pool Sustainability· low conf50 No sustainability data Counter-Stress· low conf42 v1.0 proxy — proper stress-test engine in Phase 2 follow-up Model v1.0.0Higher = safer | |
 curve-dex Multiple Audits | Ethereum | DeFi | LP Fees | 25.36% | $7.1M | B · 57 Risk score 57/ 100 B — Moderate confidence 39% Smart Contract68 3 audit(s); recent (≤18mo) found Issuer / Asset· low conf50 No issuer-risk data on this pool Peg Stability· low conf50 No peg-history context provided Liquidity & Exit55 TVL ≥ $5M Counterparty· low conf55 Protocol "curve-dex" not in v1.0 permissionless list — neutral default Chain95 Chain "ethereum" base score 95 (v1.0 lookup) Oracle & Bridge· low conf55 No oracle dependencies tracked Regulatory· low conf50 No issuer-risk data on this pool Sustainability· low conf50 No sustainability data Counter-Stress· low conf50 v1.0 proxy — proper stress-test engine in Phase 2 follow-up Model v1.0.0Higher = safer | |
convex-finance Audited | Ethereum | DeFi | Vault Strategy | 24.78% | $260,064 | B · 53 Risk score 53/ 100 B — Moderate confidence 39% Smart Contract68 1 audit(s); recent (≤18mo) found Issuer / Asset· low conf50 No issuer-risk data on this pool Peg Stability· low conf50 No peg-history context provided Liquidity & Exit25 TVL < $1M (very small) Counterparty· low conf50 Protocol "convex-finance" not in v1.0 permissionless list — neutral default Chain95 Chain "ethereum" base score 95 (v1.0 lookup) Oracle & Bridge· low conf55 No oracle dependencies tracked Regulatory· low conf50 No issuer-risk data on this pool Sustainability· low conf50 No sustainability data Counter-Stress· low conf42 v1.0 proxy — proper stress-test engine in Phase 2 follow-up Model v1.0.0Higher = safer | |
stake-dao | Ethereum | DeFi | Unknown | 22.73% | $220,150 | B · 50 Risk score 50/ 100 B — Moderate confidence 32% Smart Contract· low conf50 No audit data available Issuer / Asset· low conf50 No issuer-risk data on this pool Peg Stability· low conf50 No peg-history context provided Liquidity & Exit25 TVL < $1M (very small) Counterparty· low conf50 Protocol "stake-dao" not in v1.0 permissionless list — neutral default Chain95 Chain "ethereum" base score 95 (v1.0 lookup) Oracle & Bridge· low conf55 No oracle dependencies tracked Regulatory· low conf50 No issuer-risk data on this pool Sustainability· low conf50 No sustainability data Counter-Stress· low conf42 v1.0 proxy — proper stress-test engine in Phase 2 follow-up Model v1.0.0Higher = safer | |
curve-dex Multiple Audits | Ethereum | DeFi | LP Fees | 20.07% | $406,058 | B · 53 Risk score 53/ 100 B — Moderate confidence 39% Smart Contract68 3 audit(s); recent (≤18mo) found Issuer / Asset· low conf50 No issuer-risk data on this pool Peg Stability· low conf50 No peg-history context provided Liquidity & Exit25 TVL < $1M (very small) Counterparty· low conf55 Protocol "curve-dex" not in v1.0 permissionless list — neutral default Chain95 Chain "ethereum" base score 95 (v1.0 lookup) Oracle & Bridge· low conf55 No oracle dependencies tracked Regulatory· low conf50 No issuer-risk data on this pool Sustainability· low conf50 No sustainability data Counter-Stress· low conf42 v1.0 proxy — proper stress-test engine in Phase 2 follow-up Model v1.0.0Higher = safer |
Audit & Attestation History
No audit records available
Attestation reports will appear here when available
Disclaimer: Compliance scores are for informational purposes only and do not constitute financial or legal advice. Regulatory scores are based on the GENIUS Act (S.1582) and CLARITY Act (H.R.3633) frameworks using publicly available information. The GENIUS Act takes effect no later than January 18, 2027. Always conduct your own research.
Back to all stablecoins