Decentralized exchange Curve Finance has clocked annualized revenues of nearly $37 million during the past 30 days, according to data from Token Terminal.

That’s up nearly 23% from the month prior and “increased demand for leveraged financing and the introduction of the new Savings vault and the scrvUSD token,” Curve told Cointelegraph on Dec. 3.

“This growth aligns with the broader optimism in the market following the recent U.S. elections,” a Curve spokesperson said in a statement, adding:

“The anticipation of pro-crypto policies under [President-elect] Donald Trump’s administration has strengthened market confidence, driving crypto prices as well as the demand for products like crvUSD.”

Source: Token Terminal

Curve’s busy 2024

Curve’s native token, CRV, has gained approximately 300% since Donald Trump prevailed in the Nov. 5 United States presidential election. CRV now has a market capitalization exceeding $1 billion, according to CoinGecko.

Launched in 2020, the relatively old decentralized finance (DeFi) protocol has taken steps this year to compete with younger rivals.

In June, Curve adopted crvUSD, its stablecoin, for fee distribution to tokenholders, replacing an older model that paid holders in shares of the 3crv liquidity pool.

The underlying crvUSD is overcollateralized by several digital assets, including Ether (ETH), Wrapped Bitcoin, and others.

A graphic depicting crvUSD and scrvUSD’s influence on Curve Finance borrowing rates. Source: Curve Finance

On Nov. 13, Curve launched a decentralized yield-bearing stablecoin, dubbed “Savings-crvUSD” (scrvUSD) to offer “low-risk” returns for investors and help scale the crvUSD stablecoin.

Since launching in November, scrvUSD has attracted nearly $14.5 million in deposits, Curve told Cointelegraph.

On Nov. 29, Curve joined with blockchain network Elixir to expand DeFi access for BlackRock’s tokenized money market fund, BUIDL.

Low-risk yield demand

Demand is surging for tokens that claim to offer a low-risk yield.

This is especially true of yield sourced from tokenized real-world assets (RWAs) — including Treasury bills and other money market instruments — but also to yield from protocol revenues, as per scrvUSD.

Tokenized Treasury products — such as BUIDL — now command more than $2.5 billion in total value locked as of Dec. 3, a more than threefold increase since the beginning of 2024, according to RWA.xyz.

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