crvUSD Price
crvusdRank #147
$1.00
+0.10% · 24h
24h
+0.10%
7d
+0.07%
30d
+0.11%
1y
+0.10%
24h range
$0.9974 — $1.00
Current price sits 72% of the way up today's range.
crvUSD chart
crvUSD price history
$1.00
▲ 0.05% · 7D
Snapshot · last 12 months
| Date | Price |
|---|---|
| Sep 3, 2026 | $1.00 |
| Aug 5, 2026 | $0.9988 |
| Jul 6, 2026 | $0.9978 |
| Jun 6, 2026 | $0.9985 |
| May 7, 2026 | $1.00 |
| Apr 7, 2026 | $0.9981 |
| Mar 8, 2026 | $0.9994 |
| Feb 6, 2026 | $0.9879 |
| Jan 7, 2026 | $0.9996 |
| Dec 8, 2025 | $1.00 |
| Nov 8, 2025 | $0.9970 |
| Oct 9, 2025 | $0.9996 |
| Sep 9, 2025 | $1.00 |
crvUSD is the native decentralized stablecoin of Curve Finance, soft-pegged to the US dollar and minted against crypto collateral. It is best known for LLAMMA, a lending-liquidation mechanism that gradually converts collateral instead of triggering sudden liquidations, aiming for a smoother, more capital-efficient borrowing experience.
- — Overcollateralized, USD-pegged stablecoin native to Curve Finance
- — Uses the LLAMMA soft-liquidation AMM to avoid abrupt collateral liquidations
- — Peg maintained by PegKeepers and an automated monetary-policy contract
- — Backed by on-chain crypto collateral such as ETH and wrapped BTC
What is crvUSD?
crvUSD is an overcollateralized, USD-pegged stablecoin issued by the Curve Finance protocol. Users mint crvUSD by depositing collateral such as ETH, wrapped BTC or liquid-staking tokens into isolated markets. Unlike custodial stablecoins backed by bank deposits, crvUSD is created on-chain and backed by crypto collateral held in smart contracts, with the peg maintained through automated market mechanisms rather than a central reserve manager.
How does crvUSD work?
The defining feature is LLAMMA, a specialized AMM that continuously rebalances a borrower's collateral between the deposited asset and crvUSD as prices move. This soft-liquidation process sells collateral gradually near the liquidation zone and can buy it back if prices recover, reducing abrupt losses. PegKeepers and a monetary-policy contract adjust borrowing rates and mint or burn crvUSD in Curve pools to hold the peg near one dollar.
What drives the crvUSD price?
As a stablecoin, crvUSD is engineered to stay near $1, so the relevant dynamics are peg stability and adoption rather than price appreciation. Demand comes from borrowers seeking leverage and from DeFi users farming yield. Peg pressure is managed by variable interest rates and PegKeeper operations. Deviations can occur during volatile markets, sharp collateral drawdowns or liquidity stress in Curve pools.
Risks to consider
crvUSD carries smart-contract risk, collateral-volatility risk and potential peg deviation during extreme market moves. If collateral prices crash faster than LLAMMA can rebalance, bad debt can accumulate. Dependence on Curve's liquidity and oracle feeds adds systemic exposure, and governance decisions on collateral types and parameters can affect safety. Regulatory scrutiny of stablecoins is an ongoing factor.
crvUSD FAQ
Is crvUSD a good investment?
crvUSD is a stablecoin designed to hold a $1 value, not to appreciate, so it is used for borrowing, payments and DeFi yield rather than capital gains. It still carries depeg, smart-contract and collateral risks. This is not financial advice.
How does crvUSD keep its peg?
The peg relies on overcollateralization, the LLAMMA soft-liquidation mechanism, PegKeeper contracts that arbitrage crvUSD in Curve pools, and a monetary-policy contract that adjusts borrowing rates to balance supply and demand toward one dollar.
Is crvUSD safe?
crvUSD is designed with gradual liquidations to reduce risk, but no stablecoin is risk-free. It faces smart-contract vulnerabilities, oracle dependence, collateral volatility and possible peg deviation in extreme conditions. Users should understand these mechanics before relying on it.
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Price data by CoinGecko, last refreshed . Figures are indicative, refresh about every 30 minutes, and may lag exchange rates. Read our methodology and disclaimer. Nothing here is financial advice.