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TVL $31MAPY 5.61%medium riskUpdated Feb 1, 2025

Curve Vault for crvUSD Convex Deposit

Deposit Curve Vault crvUSD tokens into Convex for boosted yields on Curve native stablecoin strategies.

ProtocolConvex
Networkethereum
SymbolCVXCVCRVUSD
CategoryYield Vaults
Underlying Assets
crvUSDCRVCVX
Contract Address0xad3ccc7a65d64fa0b7bf78bd135e043377ec188d

What is Curve Vault for crvUSD Convex Deposit?

This vault optimizes yields on Curve's native stablecoin vault tokens through Convex Finance. crvUSD is Curve's native stablecoin, and this strategy involves Curve's savings vault (scrvUSD or similar) deposited into Convex for additional rewards.

How This Vault Works

  1. crvUSD is deposited into Curve's native savings/vault mechanism
  2. Vault tokens are then staked in Convex
  3. Convex applies boosted CRV rewards via aggregated veCRV
  4. Users earn from crvUSD yield plus CRV and CVX rewards
Yield Sources: crvUSD lending interest, boosted CRV emissions, CVX rewards.

Understanding crvUSD

crvUSD is Curve's native stablecoin with unique features:

  • LLAMMA: Lending-Liquidating AMM Algorithm that gradually converts collateral as prices fall
  • Soft Liquidations: Collateral is smoothly converted rather than flash liquidated
  • Interest Revenue: Borrowers pay interest that accrues to crvUSD holders (via scrvUSD)

Savings crvUSD (scrvUSD)

Curve developed scrvUSD as the yield-bearing version of crvUSD:

  • Holders earn from crvUSD market borrowing interest
  • Yield auto-compounds within the scrvUSD contract
  • Developed in partnership with Yearn Finance

Fee Structure

Convex standard fees:

  • 16% of CRV rewards
  • No deposit/withdrawal fees

Additional fees may apply from the underlying Curve vault mechanism.

Risk Disclosures

Smart Contract Risk: Exposure to Curve (including crvUSD and vault contracts) and Convex. Multi-layer strategy increases complexity. crvUSD Risk: crvUSD is newer than established stablecoins. The LLAMMA mechanism is innovative but less battle-tested. Peg Risk: crvUSD maintains its peg through dynamic interest rates. Extreme market conditions could stress the peg mechanism. Interest Rate Risk: crvUSD yield depends on borrowing demand. Low demand means lower yields. Governance Risk: Curve governance controls crvUSD parameters including interest rate models. Complexity Risk: This strategy layers multiple Curve mechanisms, increasing the difficulty of understanding all risk factors.

Related Yield Vaults

USPD/USDC Convex Deposit1.34% APYDOLA/sUSDe Convex Deposit4.65% APYFRAXUSDe Convex Deposit2.50% APYYearn WETH yVault1.82% APYCurve.fi Factory Pool: stETH-ng Convex Deposit1.27% APY
Disclaimer: APY and TVL figures are based on on-chain data and may fluctuate. Past performance does not guarantee future results. DeFi investments carry smart contract, market, and liquidity risks. This content is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing.

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