# Curve Finance

> Creating deep on-chain liquidity using advanced bonding curves

Curve Finance is a decentralized exchange protocol with lending markets. It lets users swap stablecoins and other assets with low slippage, provide liquidity for fees and borrow against collateral through Llamalend.

Curve Finance is a decentralized exchange protocol built on automated market makers for trading stablecoins, liquid staking tokens and volatile assets. It runs on Ethereum and other EVM-compatible chains and is governed by the Curve DAO. Liquidity providers earn swap fees and token rewards, and traders get low slippage on assets that trade near the same price.

Stableswap pools serve assets that should hold similar prices, while Cryptoswap pools concentrate liquidity for assets whose prices move independently, both with dynamic fees. Anyone can create pools, and basepools can be combined into metapools. Holders lock CRV to vote on gauge rewards and protocol parameters and to receive a share of fees.

Beyond the DEX, Curve issues crvUSD, a decentralized collateral-backed stablecoin, and runs Llamalend, permissionless isolated lending markets that use the LLAMMA soft-liquidation design. Savings crvUSD passes a share of borrower interest to depositors. It is used by traders, liquidity providers, borrowers, stablecoin users and DAO voters.

- Type: Protocol
- Sector: Finance
- Status: Active
- Founded: 2020-01-01
- Profile: https://thegrid.id/profiles/curve_finance

## Products

- [Curve DEX](https://thegrid.id/profiles/curve_finance): Curve DEX is the automated market maker of Curve Finance for swapping stablecoins, liquid staking tokens and volatile assets on Ethereum and other EVM chains. Stableswap pools serve assets that trade near the same price and Cryptoswap pools serve assets whose prices move independently, both with dynamic fees paid to liquidity providers. Anyone can create pools, and many pools also pay CRV rewards to depositors. (Decentralised Exchange, Live, Main Product)
- [Llamalend](https://thegrid.id/profiles/curve_finance): Llamalend is the permissionless lending protocol of Curve Finance, with isolated markets that each pair one collateral token with one borrowable token. Its soft-liquidation mechanism converts collateral gradually across a price range instead of liquidating at a single price, which allows high loan-to-value ratios. Users borrow crvUSD or other assets against collateral, or supply assets to lending markets to earn yield. (Decentralised Borrowing & Lending, Live)

## Assets

- [Curve DAO Token (CRV)](https://thegrid.id/profiles/curve_finance): CRV is the governance token of Curve Finance. It is used to vote on protocol upgrades, direct liquidity incentives across trading pools, and earn trading fees. Holders must lock their tokens to receive veCRV (vote-escrowed CRV), a mechanism that grants long-term stakers significantly more voting power to incentivize long-term decision making. (Governance)
- [crvUSD (CRVUSD)](https://thegrid.id/profiles/curve_finance): CRVUSD is a USD-pegged stablecoin issued by Curve Finance. It is used as collateral in DeFi lending markets, for liquidity provision, and as a base asset for trading across multiple protocols. The stablecoin utilizes LLAMMA (Lending-Liquidating AMM Algorithm) to gradually convert collateral into crvUSD within a price range rather than triggering instant liquidation at a single price point, allowing positions to automatically recover if the market rebounds. (Stablecoin)

## Links

- [Main](https://www.curve.finance)
- [Blog](https://news.curve.finance)
- [Governance](https://gov.curve.finance)
- [Whitepaper](https://classic.curve.finance/whitepaper)
- [Governance](https://www.curve.finance/dao/ethereum/proposals)
- [Twitter / X](https://x.com/curvefinance)
- [Telegram](https://t.me/curvefi)
- [Discord](https://discord.gg/rgrfS7W)
- [YouTube](https://www.youtube.com/@CurveFinanceChannel)
- [GitHub](https://github.com/curvefi)
- [Telegram](https://t.me/curvefiann)

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- [Product Type Classification](https://github.com/The-Grid-Data/workspace-public/blob/main/references/product-type-classification.md): Guide for classifying products into types
- [Grid MCP Guide](https://github.com/The-Grid-Data/workspace-public/blob/main/grid-search/skills/grid-query/references/grid-mcp-guide.md): How to query The Grid programmatically via MCP