Curve Finance’s monthly revenue has increased by more than 20% on the rise of DeFi.
Decentralized currency Curve Finance has closed nearly $37 million in annual revenue over the past 30 days, according to data from Token Terminal.
This is up nearly 23% from the month before and is “supported by increased financial demand and the effect of the new savings bank and the introduction of the srvUSD token,” Curve told Cointelegraph on December 3rd.
“This development is consistent with the broad optimism in the market following the recent US election,” a Curve spokesperson said in a statement.
“Under the protection of pro-crypto policies [President-elect] Donald Trump's administration has bolstered market confidence, driving crypto prices as well as demand for commodities like crvUSD.
Source: Token Terminal
Related: Curve Finance Launches Stablecoin Offering ‘Savings crvUSD' Yield
Curve Busy 2024
Curve's native token, CRV (CRV), has gained roughly 300% since Trump won the US presidential election on November 5. CRV now has a market capitalization of over $1 billion, according 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, a stablecoin for payment tokens, replacing an older model that paid for 3crv liquid pool shares.
The underlying crvUSD is heavily correlated with several digital assets, including Ether (ETH), Bitcoin (WBTC), and others.
A graphic showing the impact of crvUSD and scrvUSD on Curve Finance loan rates. Source: Curve Finance
In the year On November 13, Curva launched a decentralized yield stablecoin, named “Savings-crvUSD” (scrvUSD), to provide investors with “low-risk” returns and help benchmark the crvUSD stablecoin.
Since its launch in November, srvUSD has attracted nearly $14.5 million in deposits, Curve told Cointelegraph.
In the year On November 29, Curve joined blockchain network Elixir to expand BlackRock tokenized money market fund BUIDL's access to DeFi.
Low-risk product demand
Demand for tokens that claim to offer low-risk yields is increasing.
This is especially true for earning from tokenized real-world assets (RWAs) – including Treasury bills and other money market instruments – but also from protocol revenues, such as scrvUSD.
Tokenized Treasury products — such as BUIDL — now have more than $2.5 billion in total value locked in as of Dec. 3, more than tripling since early 2024, according to RWA.xyz.
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