Token

crvUSD

Donald Trump

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Decentralized exchange Curve Finance has clocked annualized revenues of nearly $37 million during the past 30 days, according to data from Token Terminal.
That’s up nearly 23% from the month prior and a result of “increased demand for leveraged financing and the introduction of the new Savings vault and the&nbsp;scrvUSD&nbsp;token,” Curve told Cointelegraph on Dec. 3.
“This growth aligns with the broader optimism in the market following the recent US elections,” a Curve spokesperson said in a statement, adding:
<blockquote>
 “The anticipation of pro-crypto policies under [President-elect] Donald Trump’s administration has strengthened market confidence, driving crypto prices as well as the demand for products like crvUSD.”
</blockquote>
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 <img alt="Curve Finance monthly revenues up more than 20% on DeFi surge" src="https://s3.cointelegraph.com/uploads/2024-12/01938d79-62c2-7046-bc16-57f050e81f29" title="">
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 Source: <a data-ct-non-breakable="null" href="https://tokenterminal.com/explorer/projects/curve" rel="nofollow noopener" target="_blank" text="null" title="https://tokenterminal.com/explorer/projects/curve">Token Terminal</a>
 </figcaption>
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Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/curve-finance-launches-savings-crv-usd-yield-bearing-stablecoin" rel="" target="_self" text="null" title="https://cointelegraph.com/news/curve-finance-launches-savings-crv-usd-yield-bearing-stablecoin">Curve Finance launches ‘Savings crvUSD’ yield-bearing stablecoin</a>
<h3 id="curve-s-busy-2024">Curve’s busy 2024</h3>
Curve’s native token, CRV (<a data-ct-non-breakable="null" href="https://cointelegraph.com/curve-dao-token-price-index" rel="" target="_self" text="null" title="https://cointelegraph.com/curve-dao-token-price-index">CRV</a>), has gained approximately 300% since Trump prevailed in the Nov. 5 United States presidential election. CRV now has a market capitalization exceeding $1 billion, <a data-ct-non-breakable="null" href="https://www.coingecko.com/en/coins/curve-dao-token" rel="nofollow noopener" target="_blank" text="null" title="https://www.coingecko.com/en/coins/curve-dao-token">according</a> to CoinGecko.
Launched in 2020, the relatively old decentralized finance (DeFi) protocol has taken steps this year to compete with younger rivals. 
In June, Curve adopted crvUSD, its stablecoin, for <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/curve-finance-adopts-crvusd-fee-distribution" rel="" target="_self" text="null" title="https://cointelegraph.com/news/curve-finance-adopts-crvusd-fee-distribution">fee distribution to tokenholders</a>, replacing an older model that paid holders in shares of the 3crv liquidity pool. 
The underlying crvUSD is overcollateralized by several digital assets, including Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="" target="_self" text="null" title="https://cointelegraph.com/ethereum-price">ETH</a>), Wrapped Bitcoin (WBTC) and others.
<figure>
 <img alt="Curve Finance monthly revenues up more than 20% on DeFi surge" src="https://s3.cointelegraph.com/uploads/2024-12/01938d7a-6bdf-79f6-b66f-9f18c759bae1" title="">
 <figcaption style="text-align: center;">
 A graphic depicting crvUSD and scrvUSD’s influence on Curve Finance borrowing rates. Source: <a data-ct-non-breakable="null" href="https://news.curve.fi/introducing-scrvusd/" rel="null" target="null" text="null" title="https://news.curve.fi/introducing-scrvusd/">Curve Finance</a>
 </figcaption>
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On Nov. 13, Curve <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/curve-finance-launches-savings-crv-usd-yield-bearing-stablecoin" rel="null" target="null" text="null" title="https://cointelegraph.com/news/curve-finance-launches-savings-crv-usd-yield-bearing-stablecoin">launched a decentralized yield-bearing stablecoin</a>, dubbed “Savings-crvUSD” (scrvUSD), to offer “low-risk” returns for investors and help scale the crvUSD stablecoin.
Since launching in November, scrvUSD has attracted nearly $14.5 million in deposits, Curve told Cointelegraph.
On Nov. 29, Curve <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/curve-blackrock-partner-buidl-de-fi" rel="" target="_self" text="null" title="https://cointelegraph.com/news/curve-blackrock-partner-buidl-de-fi">joined with blockchain network Elixir</a> to expand DeFi access for BlackRock’s tokenized money market fund, BUIDL.
<h3 id="low-risk-yield-demand">Low-risk yield demand</h3>
Demand is surging for tokens that claim to offer a low-risk yield. 
This is especially true of yield sourced from tokenized real-world assets (RWAs) — including Treasury bills and other money market instruments — but also to yield from protocol revenues, as per scrvUSD.
Tokenized Treasury products — such as BUIDL — now <a data-ct-non-breakable="null" href="https://app.rwa.xyz/" rel="nofollow noopener" target="_blank" text="null" title="https://app.rwa.xyz/">command</a> more than $2.5 billion in total value locked as of Dec. 3, a more than threefold increase since the beginning of 2024,&nbsp;according to RWA.xyz.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/crypto-narratives-web3-gaming-yield-guild-games-gabby-dizon-hall-of-flame/" rel="" target="_self" text="null" title="https://cointelegraph.com/magazine/crypto-narratives-web3-gaming-yield-guild-games-gabby-dizon-hall-of-flame/">‘I don’t believe in chasing narratives’: Gabby Dizon, X Hall of Flame</a>

Curve Finance monthly revenues up more than 20% on DeFi surge

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