Originally published on: December 03, 2024
Curve Finance, a decentralized exchange, has seen a remarkable boost in revenues, with annualized earnings nearing $37 million in the past month. This surge of nearly 23% is attributed to the rising demand for leveraged financing and the introduction of innovative features like the new Savings vault and the scrvUSD token.
According to Token Terminal data, Curve Finance’s growth coincides with the recent US elections, signaling broader market optimism. The native token, CRVCRV, has seen a whopping 300% increase since the presidential election, surpassing a market capitalization of $1 billion.
Founded in 2020, Curve Finance has made significant strides this year to compete with its younger DeFi rivals. By adopting crvUSD for fee distribution and introducing the Savings-crvUSD stablecoin, Curve aims to offer low-risk returns and scale its stablecoin operations.
With nearly $14.5 million in deposits attracted since its launch in November, the Savings-crvUSD stablecoin has gained traction among investors seeking secure yields. Collaboration with blockchain network Elixir to expand DeFi access for BlackRock’s tokenized money market fund further solidifies Curve’s position in the market.
The demand for tokens offering low-risk yields, especially those tied to real-world assets like Treasury bills and protocol revenues, is on the rise. Tokenized Treasury products like BUIDL now command over $2.5 billion in total value locked, showcasing the growing interest in DeFi assets.
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