So, it's the end of year - December 31st. Time to review the results of 2025 and look into the future!

For Curve, 2025 was an interesting one. Here are some highlights:
- Thanks to the introduction of Savings crvUSD, the price of crvUSD become very stable, comparable with that of USDC and USDT;
- crvUSD appeared to be the highest-trading-volume decentralized stablecoin towards the end of the year (thanks for launching Yield Basis);
- We never paid much attention to the number of active users, but surprisingly it actually grows all the time. For example, this year it's 4 times larger than in 2021;
- The highest-ever quorum was reached in a Curve vote - 93% turnout for the proposal number 1279;
- Biggest pools with wrapped Bitcoin are now on Curve (and what's surprising - they are BTC<>USD pools - also thanks to Yield Basis);
- Curve suddenly jumps to be on par with Uniswap with total fees collected for swaps (those are split between LPs and admin fees);
- Special pools were launched for creating liquidity for non-USD stablecoins: FX pools.

Notably, in 2025 Yield Basis was launched, and it already had time to demonstrate that it indeed eliminates impermanent loss which was so annoying for LPs and allows to convert crypto volatility to yields.

Everything created and achieved in 2025 points to what waits us in 2026:
- The work of Yield Basis inevitably increases the amount of crvUSD available for borrowing (potentially, billions, or maybe even tens of billions of crvUSD). Therefore, our team working on Curve will launched the improved LlamaLend (2.0). This improves not just lending but also minting of crvUSD - for safer and more convenient loans and leverage positions;
- USD stablecoins account for 99% of value of all stablecoins currently. Let's change that with FX Swaps!

2026 plans for Yield Basis are also clear:
- Scaling, scaling and scaling again! Everything points to the market having a potential to accomodate for 100-fold TVL increase;
- Adding new assets (starting from ETH). Of course, these should only be the safest and most stable ones.

Anyhow, less words - more action. Happy New Year of 2026!

#DeFi, #Curve, #stablecoins, #Bitcoin, #yield