The score, by dimension
- the same for all 7
- #3 of 7 · best 17.8
- the same for all 7
- the same for all 7
- the same for all 7
Tick: the best in this ranking · Methodology v2026.11.1
Curve crvUSD
Curve's collateralised stablecoin
#3 of all 7 worldwide73
- Rank
- #3 of all 7 worldwidere-runs: scores 71–76 and stays #3
- Your cost
- $330 a year3.3006% borrow APR · read
- Evidence
- High4 of 4 criteria sourced
- Licence
- No MiCA record on file
- Freshness
- Read October 2026checked · re-read due
Check availability for your country
Curve crvUSD · docs.curve.finance. Provider links appear once we know which country you are browsing from: ChainChoice links to providers only where it serves in full.
Commission: This provider pays ChainChoice nothing for this link. Disclosure
Crypto products are high risk. Check the provider is authorised where you live before you deposit.
The verdict
Curve crvUSD is #3 of 7 published CDP stablecoins; it scores 9/10 on liquidation mechanics, the category best. Its widest gap is collateral integrity: 4/10, where Liquity V2 (BOLD) scores 8. Choose Liquity V2 (BOLD) if collateral integrity matters most.
Is Curve crvUSD right for you?
Suits you if
- Liquidation mechanics you actually bear9/10, the category best
Look elsewhere if
- What actually backs the coin4/10 here; Liquity V2 (BOLD) scores 8
- Cost of the loan and who controls it7/10 here; Liquity V1 (LUSD) scores 10
- Observed peg behaviour under stress4/10 here; Aave GHO scores 5
Not yet tested for your country. Markets it lists: Global.
to test where you can use it.
The rank above is the published one, the same for every reader. Find my best CDP stablecoin shows where it lands for you.
What will Curve crvUSD cost you?
$330 interest/yr
- Amount borrowed
- $10k
- Borrow APR
- 3.3006%
How safe is Curve crvUSD?
- Evidence: verified4 of 4 criteria rest on quoted, sourced receipts. Read October 2026.
- LicenceMiCA (EU): no register record on file here.
If it doesn’t fit, choose
Compare all 4- 1Liquity V2 (BOLD)If collateral integrity matters most: 87 points above · stronger on collateral integrity (8 against 4)80$249 a year · read
- 2Liquity V1 (LUSD)If collateral integrity matters most: 73 points above · stronger on collateral integrity (7 against 4)76$0.00 a year · read
- 4Aave GHOIf peg resilience matters most: 56 points below · stronger on peg resilience (5 against 4)67$450 a year · read
Provider at a glance
- Category
- CDP Stablecoins
- Entity
- All 3 Curve products
- Official website
- docs.curve.finance
Independent rankingchecked How it works
Details
Scored 73 out of 100 under methodology 2026.11.1, from the evidence read in October 2026.
For your setup
Find out if Curve crvUSD fits you
The rank above is the published one — the same for every visitor. Answer the category's questions and this section shows where Curve crvUSD lands for you, which criteria your answers weight up, and which stated needs the record does or does not meet. The published rank stays beside it.
- A few questions
- No account required
- Ranking-blind: no commercial input
- Personalised in under 60 seconds
Find my best CDP stablecoinNothing is inferred from clicks, popularity or commercial value.
Why this rank
Why Curve crvUSD ranks #3
Each strength is read from evidence on a 0–10 ladder and weighted as the published methodology states. The 32 objective points these produce (20.3 here) sit inside the score; availability, friction, trust record and measured data add the rest. Best in this ranking on 1 of 4.
4 published criteria · Σ weight 100
CriterionWeightStrength · 0–10ScoreContrib.MedianBestRankEvidence
359+10.086.09#1/7
Primary
Provider page · read 2026-10-22254+3.204.08#3/7
Third party
Third party · read 2026-10-22207+4.486.010#3/7
Primary
Provider page · read 2026-10-22204+2.564.07#3/7
Third party
Third party · read 2026-10-22Hairline = best in this ranking · tick = its median · a missing bar is "not scored", never zero
Margin−3behind Liquity V1 (LUSD), #2 of all 7 worldwide, on the published score
RobustnessHoldsacross a one-point change to each of its 4 criterion scores, the re-run scores 71–76 and stays #3
Evidence4 of 4 scored4 quoted, 4 with a source link
What would move the rank
Each line is the ranking run again with one of Curve crvUSD’s criterion scores changed and every other value held: the smallest whole-point change on that criterion that moves its rank, and where the re-run puts it. Up to 4 climbs and 3 falls are listed, smallest change first. Nothing here is a forecast.
What actually backs the coin 4 → 6 on its ladder · passes Liquity V1 (LUSD)+276#3 → #2
Cost of the loan and who controls it 7 → 10 on its ladder · passes Liquity V1 (LUSD)+377#3 → #2
Observed peg behaviour under stress 4 → 7 on its ladder · passes Liquity V1 (LUSD)+377#3 → #2
Liquidation mechanics you actually bear 9 → 5 on its ladder · Aave GHO passes it−465#3 → #4
Cost of the loan and who controls it 7 → 1 on its ladder · Aave GHO passes it−666#3 → #4
Smallest climb: what actually backs the coin 4 → 6 passes Liquity V1 (LUSD), #2.
Strengths
1 from the score dataWhere it leads
Best for readers who weight
- Liquidation mechanics you actually bear — 9/10, the category best
Tradeoffs
3 from the score dataWhere it trails
Not for readers who put first
- What actually backs the coin — 4/10 against a category best of 8/10
- Cost of the loan and who controls it — 7/10 against a category best of 10/10
- Observed peg behaviour under stress — 4/10 against a category best of 7/10
Record watch-outs
- Soft liquidation is not free and Curve will not quantify it. Their own LLAMMA documentation concedes that losses during soft liquidation are 'very hard to quantify' and depend on band count, pool liquidity and arbitrage efficiency. You avoid the liquidation cliff by paying a continuous, unpredictable bleed instead — and you keep paying it every time price oscillates through your bands. Separately, Curve unified its documentation and the widely-cited resources.curve.finance/crvusd/ pages now 404, so most third-party writeups of crvUSD parameters link to dead sources.
- Iterating ControllerFactory 0xC9332fdCB1C491Dcc683bAe86Fe3cb70360738BC (n_collaterals = 9) and reading monetary_policy() on each Controller returns TWO distinct policy contracts, not one. Market index 0 (the legacy sfrxETH controller) uses 0xc684432FD6322c6D58b6bC5d28B18569aA0AD0A1; only the other eight use 0x07491D124ddB3Ef59a8938fCB3EE50F9FA0b9251. The claim appears in both pricingVerbatim and the borrowCostPredictability evidence and should read 'eight of the nine markets share one MonetaryPolicy'. Read again 15 September 2026: the split still holds on-chain, Curve's monetary-policy docs now state it ('The original AggMonetaryPolicy ( 0xc684...0a1 ) is only used by one deprecated market.'), and the pricing note carries it.
- But 2.03–2.06% is not the crvUSD rate range; it is the range of the three markets the research chose. Across all nine live mint markets the rate spans 0.179% APR (legacy sfrxETH, index 0, on the separate MonetaryPolicy) to 13.564% APR (LBTC). The LBTC market is one of the nine the research counts toward crvUSD's collateral breadth, and at 13.56% it is currently more expensive than every single Sky ETH vault the comparison is built against. The '7x live spread' framing in the criterion description and the 'paying roughly 5x too much at Sky' uncomfortableFinding both depend on this understated range. Read again 15 September 2026: the eight markets on the current policy span 3.12% (sfrxETH) to 3.42% (wstETH), LBTC still charges 13.56% on about 1 crvUSD of debt, and the deprecated sfrxETH market (index 0) now charges 10.28%, not 0.179%.
Competitive position
How Curve crvUSD places on each criterion
Rank on every objective dimension among the rows scored on it. A criterion in the top third of its pool is listed as a lead, the bottom third as a trail; the middle is neither. Popularity, size and commercial terms are not dimensions.
Against the leader
80 vs 73 · gap 7.0Why Liquity V2 (BOLD) ranks above Curve crvUSD
The compare workspace's arithmetic applied to these two rows. Each dimension's share of the gap is its weight × the difference, on the displayed scale — it reproduces the displayed gap of 7.0 to within rounding.
DimensionThisLiquity V2 (BOLD)Gap share
Availability · 23% weight · constant here14.014.0same
Published criteria · 35% weight15.217.8−6.8, worse
Friction · 12% weight · constant here2.72.7same
Trust record · 9% weight · constant here3.23.2same
Measured data · 21% weight · constant here8.38.3same
Published criterionThisLiquity V2 (BOLD)Points
Liquidation mechanics you actually bear · w3598+1.12, better
What actually backs the coin · w2548−3.20, worse
Cost of the loan and who controls it · w2079−1.28, worse
Net7380−7.0
Your scenario
What Curve crvUSD costs on your scenario
Interest on what you borrow at the published rate. Variable rates move; excludes origination and liquidation penalties. Change an input and every figure recomputes from the published rate; the published rank does not move.
interest/yr · default scenario — set your own
Amount borrowed · your input$10k
Borrow APR · published rate3.3006%
Rate read from the provider’s published pricing ↗ on 22 October 2026.
interest/yrCost is stated as interest/yr in USD; it is never a yield, never annualised, and it does not enter the score.
$330
Under the default inputs · USDTypical costNot statedFewer than 5 priced rows: no typical cost is named · 3 of 7 rows priced
Lowest fee, priced rows$249 · Liquity V2 (BOLD)Curve crvUSD costs +$81 more · availability not applied — set your country to filterCompare with Liquity V2 (BOLD)
3 of 7 rows in this ranking have no verified rate for this scenario and are absent from the typical, not counted as free.
1 of 7 quote a zero fee that leaves costs out, so they are absent from the typical and the lowest fee, not counted as free.
Evidence
Evidence read 22 October 2026
One row per published criterion: the page each strength was read from, its source type by domain, the reading date and whether the file and the published table agree. Open a row for the quote and the receipt.
4 of 4 cells scored
Score evidenceVerified4 of 4 criteria reconstruct from receipts
4 of 4 criteria reconstruct from a quoted, sourced receipt equal to the published strength.Public receiptsReading…4 quoted with a source URL
The receipt file has not been read yet.Evidence confidenceHighcoverage and corroboration, never freshness
4/4 criteria scored, with 4 dated sources quoted.RobustnessHoldsrank #3 across every one-point re-run
Whether the position holds when one criterion score is changed by one point and the ranking is run again. It is always a re-run of the ranking, never an estimate.The newest evidence read on the platform is 10 November 2026; this category's reading is older. The scores stand as read on 22 October 2026.
CriterionSourceTypeReadFreshnessStatusReceipt
Liquidation mechanics you actually bearstrength 9 · weight 35Report an errorProvider's own page22 October 2026…
Verified
The published strength matches the evidence cell and a source page is on file.What actually backs the coinstrength 4 · weight 25Report an errorThird-party page22 October 2026…
Verified
The published strength matches the evidence cell and a source page is on file.Cost of the loan and who controls itstrength 7 · weight 20Report an errorProvider's own page22 October 2026…
Verified
The published strength matches the evidence cell and a source page is on file.Observed peg behaviour under stressstrength 4 · weight 20Report an errorThird-party page22 October 2026…
Verified
The published strength matches the evidence cell and a source page is on file.How you can lose money here, and what the ranking scores
- Control failure (Curve crvUSD 7/10): a key or vote changes the rules, freezes or mints.Scored by Cost of the loan and who controls it · 20%
- Oracle failure (Curve crvUSD 9/10): a wrong price or outcome liquidates or settles a position.Scored by Liquidation mechanics you actually bear · 35%
- Insolvency failure (Curve crvUSD 4/10): the firm or issuer that owes you cannot pay.Scored by What actually backs the coin · 25%
- Exit failure (Curve crvUSD 4/10): you cannot get out at par, on time, or with what is yours.Scored by Observed peg behaviour under stress · 20%
Not assessed by this ranking: Contract failure, Regulatory failure, Execution failure. A high place says nothing about these; the Methodology tab says what each means.
Facts
facts, not scoresWhat the record publishes
- Pricing
- Curve's own Prices API (prices.curve.finance/v1/crvusd/markets/ethereum, read 22 October 2026) publishes each crvUSD mint market's live rate. wstETH, the largest market ("total_debt":24910023.453320444): "borrow_apr":3.3006086212608006, "borrow_apy":3.3556829621529616. WBTC "borrow_apr":3.2743264557888; cbBTC "borrow_apr":3.3117929992656006; tBTC "borrow_apr":3.2982514377120005; weETH "borrow_apr":3.3007011478848005; WETH "borrow_apr":3.2476660601472003; sfrxETH "borrow_apr":3.2555010437424. Rounded, the eight current markets charge about 3.25 to 3.31 per cent a year (simple APR). LBTC "borrow_apr":12.720048510772802 on "total_debt":1.1018137259023255 (about one crvUSD), and the deprecated original sfrxETH market "borrow_apr":1.2727228649328002 on "total_debt":21497.228210512352. The rate is algorithmic and moves with every borrower interaction; Curve's monetary-policy docs: 'It is used by all active crvUSD mint markets. The original AggMonetaryPolicy ( 0xc684...0a1 ) is only used by one deprecated market.' No fixed price is published.Curve crvUSD — official page at prices.curve.finance ↗ · 22 October 2026
- Prices published in
- USDCurve crvUSD — official page at prices.curve.finance ↗ · 22 October 2026
- Licences held
- Not published
- Compliance level
- partial
- Regulatory note
- Not published
- Supported chains
- Multi-chain
- Markets served
- global
- Primary markets
- Not published
- Restricted markets
- Not published
- Operating limits
- Not published
- Availability note
- Permissionless contracts on Ethereum; the contracts themselves are not gated. The curve.finance website's Terms & Conditions (Swiss Stake AG, Zug; "Last Updated Jun 17, 2026"; read 22 October 2026 at curve.finance/dex/ethereum/legal) require that users "are not accessing or using the Website from one of the countries embargoed or restricted by the Swiss State Secretariat for Economic Affairs (SECO), including but not limited to: Belarus, Burundi, Central African Republic, Congo, DPRK (North Korea), Guinea, Guinea-Bissau, Iran, Iraq, Lebanon, Libya, Mali, Myanmar (Burma), Republic of South Sudan, Russia, Somalia, Sudan, Syria, Ukraine, Venezuela, Yemen, or Zimbabwe" and state: "We reserve the right to technically restrict the access to the Website and the content provided thereon based on your geographical location." Bucket: global.
Legal entity on file: Curve, placed in 3 products. Only confirmed entities are shown; nothing is inferred from the brand name.
If something goes wrong with Curve crvUSD: where to complain, and where to report a scam
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How this page is reviewed
Reviewed means this product in this category was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
Accountable for this review: Mathias Siemonsmeier, Founder.
How we review · Review calendar · Corrections log · How we make money
History
What the record carries
Changes to published ranks are recorded in a ledger; every step and its cause is listed on the rank-history page. The entries below begin with the current verified snapshot, then the methodology versions whose changes applied to this category, newest first.
10 methodology entries
- 22 October 2026Current verified snapshot · methodology 2026.11.1Score 73, #3 of 7. 4 of 4 criteria scored. History starts here; earlier values are not interpolated.
- 15 October 2026
2026.10.10The live-data rule names the researched market measurements a criterion reads- changed The live-data rule names a second kind of figure a score reads: a researched, dated market measurement a criterion's ladder is built on, read again on the 45-day review. /methodology/live-data lists the 14 criteria that read one; no score, rank or order changes.
- changed A saved decision is checked again on the answers the reader saved. The drift check had merged a priority suggested by the market (price swings, gas) into those answers, so a market reading could move a saved decision's #1; the published ranking never read it.
- added On every build a test reads every criterion's published ladder: one that names a market quantity or a market-data source must be declared, and every scored row of a declared criterion must carry the source and the date its figure was read.
- 10 October 2026
2026.10.8When nothing serves your country, the list shown for reference is the published ranking · platform-wide- fixed The reference list shown when nothing serves your country is the published order with the published scores, and a build check now fails any such list out of that order or with a score the ranking does not publish.
- fixed The explorer prints an overall rank only for a row the published ranking holds; a country entrant such as Coinbase Commerce for US merchants shows no overall rank.
- changed Published orders do not move. Country results change only where nothing serves the country: in India bill pay keeps Bitcoin Well first and now shows Strike second, as published; 35 such runs across all categories and countries now match the published list exactly.
- 10 October 2026
2026.10.6A criterion you require re-scores the rows that meet it · platform-wide- changed The explorer sends each criterion you require, at any band, as fit_required with your other answers; region, licence, chain and fact filters stay filters. On /best, a required criterion joins For you as a marked preference does, which needs your country; Overall stays the published ranking, filtered.
- added Every published criterion has a golden case as the explorer sends it (require:<criterion>), so the order a requirement gives is replayed and gated as the published order is, and a change to it needs an entry here.
Methodology 2026.11.1, the same published run every visitor sees · receipt cdp_stablecoins:curve_crvusd:2026.11.1:3ca1ffa85b58
Are you Curve crvUSD? Reply to this verdict, or send evidence, ask for a correction or claim the listing. Every message gets a public ticket number; none of it changes a rank unless a public page or a signed statement supports it.