What is the current price of crvUSD?
The current price of crvUSD is $0.975
Supply and ATH/ATL data provided by CoinGecko
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Prices and notionals are USD-equivalent venue units, with USDC collateral. No currency conversion is applied. Notional = venue price × base-asset size. Contract specifications
Derivatives and mapped ecosystem data, with source timings and coverage.
crvUSD is Curve Finance's US dollar stablecoin. Users mint it by depositing crypto collateral into Curve-run lending markets, so every crvUSD in circulation is backed by an over-collateralized loan (a collateralized debt position, or CDP). What sets it apart is LLAMMA, an automated market maker that converts collateral gradually as prices move instead of liquidating a borrower in one step. It matters because it is a decentralized, DAO-governed alternative to fiat-backed dollars, and it sits at the center of Curve's lending and liquidity ecosystem.
crvUSD is a dollar-pegged token created and governed by the Curve DAO. According to the Curve developer documentation, users "mint crvUSD using a selection of crypto collaterals," and the system is "designed to provide a more capital-efficient stablecoin mechanism and smoother liquidations, while maintaining a decentralized design which the Curve DAO governs."
The token originates on Ethereum (contract on Etherscan) and has bridged versions on several other networks, including Arbitrum, Optimism, Base, Polygon, BNB Chain, Gnosis Chain, Fraxtal and Taiko.
crvUSD was built by the team behind Curve Finance, the decentralized exchange best known for low-slippage stablecoin swaps, and it is controlled by Curve DAO governance rather than by a company that holds reserves. The contracts are open source in the curve-stablecoin repository, which also contains the code for Curve's lending product, Llamalend. The mint markets have gone through several controller versions (V1 to V3); the documentation lists V3 as current, adding features such as an extra health buffer and delegated loan management.
Minting against collateral A borrower deposits an approved crypto asset into a mint market and receives newly minted crvUSD as a loan. Each market has its own Controller contract (which tracks debt and loan health) and its own LLAMMA pool.
Bands and soft liquidation When opening a loan, the borrower spreads collateral across 4 to 50 price "bands." Per the LLAMMA explainer, if the collateral price falls into that range, LLAMMA "starts selling the collateral asset for the borrowable asset." Arbitrageurs perform these swaps. If the price recovers, the process reverses ("de-liquidation") and crvUSD is converted back into collateral.
Hard liquidation If a loan's health drops below zero, other users can repay the debt and receive the collateral in exchange.
Interest rates Each market's borrow rate comes from a monetary policy contract. The rate rises when crvUSD trades below $1 and adjusts based on how much debt the PegKeepers hold relative to a target, which pushes borrowers to repay (and reduce supply) when the peg is weak.
crvUSD has no fixed maximum supply. Supply grows when loans are opened and shrinks when they are repaid, subject to debt ceilings set by governance.
Most CDP stablecoins liquidate a position all at once when it crosses a threshold. crvUSD's LLAMMA liquidates in small steps across bands and can undo the conversion if prices recover. This gives borrowers a window to act, and it spreads selling pressure out instead of concentrating it. The tradeoff, which the documentation states directly, is that repeated soft and de-liquidation causes gradual losses; using more bands reduces those losses but lowers the maximum loan-to-value.
crvUSD is a token, not a blockchain. Compared with other stablecoins:
Security depends on over-collateralization, oracle integrity and smart contract correctness on Ethereum. Loan health is monitored continuously, soft liquidation reduces the chance of large bad debt events, and hard liquidation remains a backstop. Parameters such as debt ceilings, collateral types and monetary policy settings are set by Curve DAO governance. Bridged versions on other chains add the security assumptions of their bridges.
crvUSD is a working test of whether a stablecoin can liquidate borrowers more gently and still hold its peg. It gives DeFi a dollar that is not dependent on a bank or a single issuer, and it ties Curve's exchange, lending and savings products together.
crvUSD is designed to trade in Curve pools that pair it with other stablecoins, and it can also trade on other decentralized exchanges on Ethereum and the networks it is bridged to. It can also be obtained directly by minting against collateral through the Curve interface at curve.finance. Some centralized exchanges may list it; check availability in your region before trading.
crvUSD is a standard token, so any wallet that supports Ethereum or the relevant network (such as MetaMask, Rabby or a hardware wallet like Ledger) can hold it. Always confirm the contract address on the official explorer for the network you use, since bridged versions have different addresses.
Track crvUSD live price, chart, market cap, and volume in real time. Practice mock trading and demo trading for crvUSD on CoinRithm before using real money.
Use a crypto paper trading account to demo trade crvUSD with real-time prices, AI trade feedback, and trading leagues. Test strategies, learn risk management, and build confidence before trading crvUSD with real money.
Read the complete paper trading guideThe current price of crvUSD is $0.975
The daily trading volume is $0.98
The market capitalization of crvUSD is $207,508,752, ranking #961 globally.
The fully diluted valuation (FDV) of crvUSD is $208,404,122, calculated assuming the total supply of 213,747,818 CRVUSD is in circulation.
Circulating: 213,448,004. Total: 213,747,818. Max: N/A.
CRVUSD/USDTTether USDT0.975 USDT
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