Curve reported a sharp increase in trading activity in its week 45, 2026 metrics update, with decentralized exchange volume climbing to $1.75 billion and trading fees reaching $499,400. The protocol’s dashboard-style summary also showed changes across crvUSD, scrvUSD, Llamalend, and DAO-related returns.

The weekly update combined selected yield snapshots with operating data across Curve’s stablecoin, lending, and exchange products. Curve noted that the listed yields are modeled estimates based on recent seven-day performance and current rewards, and that actual rates remain variable.

Trading activity accelerated across the DEX

According to Curve, weekly DEX volume came in at $1.75 billion across 391,000 swaps. Trading fees totaled $499,400 for the period, indicating a much stronger week for exchange activity than in the prior approved summary shared from the report.

On the DAO side, Curve listed veCRV distribution at $268,800 and put base veCRV APR at 6.580%. When two-week average vote incentives of $258,600 are included, the reported veCRV APR rises to 14.809%. Weekly gauge allocation was 1.86 million CRV, valued by Curve at $511,900, while annual CRV inflation was listed at 3.995%.

crvUSD and scrvUSD metrics showed firmer returns

Curve’s protocol activity section showed scrvUSD yield at 6.4% APY. Mint-market debt was reported at $57.3 million, while scrvUSD assets as a share of mint debt stood at 24.7%.

The crvUSD oracle price was listed at $0.9998, and average borrow APY at 5.3%. PegKeeper debt was shown at 0.00 million crvUSD, while mint borrowing fees collected during the period reached $62,500.

Llamalend remained active with $263M in TVL

Curve reported $263 million in total value locked in Llamalend, with $121 million supplied, $132 million borrowed, and $216 million in collateral. The lending system counted 1,214 loans, and Llamalend v2 accrued admin fees of $2,500.

Among selected lending markets, Curve highlighted crvUSD supply APRs including 8.0% against fxSAVE collateral, 5.3% for sDOLA, and 5.0% for svZCHF. It also listed 20x looped APR examples for Llamalend v2, including 9.8% for sfrxUSD collateral and 3.5% for sDOLA, while noting that these examples are based on a modeled looping calculation rather than a guaranteed return.

Selected pool yields and new gauges were added

In its weekly yield table, Curve highlighted several Ethereum-based USD pools, with the highest listed APR at 24.3% for the MUSD (Mezo)/USDC/USDT market. Other selected examples included 15.6% for sUSG/reUSD, 12.3% for frxUSD/avUSD, 12.2% for crvUSD/sUSDe, and 7.9% for scrvUSD/sUSDe.

For BTC and ETH-denominated pools, selected APRs ranged from 3.9% for pufETH/wstETH to 1.5% for cbBTC/WBTC. Curve also listed additional markets such as TRICRYPTO at 19.3% and 11.8%, TricryptoGHO at 6.4%, FXSwap at 5.6% for ZCHF, and TRICRYPTO USDC at 5.1%.

On governance and product updates, Curve said CRV gauges were added for Techdollar USDte and the sreUSD lending market. The update also mentioned new gauges for reUSD/sfrxUSD LP collateral, additional gauges for Base and Ethereum pools, emergency DAO coverage for Llamalend v2, and the availability of veCRV boost in the app.

Methodology and what to watch next

Curve said the weekly yield selections only cover markets with at least $100,000 in pool liquidity or supplied assets. The figures model a new $100,000 deposit using seven-day LP growth and current unboosted rewards under unchanged income assumptions, meaning they are not presented as a full ranking of the highest or safest opportunities.

The next confirmed step is the protocol’s following weekly update, which should show whether elevated DEX volume, fee generation, scrvUSD yield, and recently added gauges continue to affect returns across the Curve ecosystem.

Source: news.curve.finance