Curve Finance's decentralized autonomous organization (DAO) is voting on a proposal that could open new revenue streams for the protocol and its ecosystem.
The proposal, put forward by founder Michael Egorov in August, aims to establish a $60 million crvUSD credit line for Yield Basis. Voting began on Wednesday, and as of the time of this writing, 97% of the votes support the proposal.
Under Yield Basis, staked token CRV holders will receive veCRV (vote-locked CRV) as a reward, essentially generating income for stakers. Yield Basis will return 35% to 65% of its value to veCRV holders, with an additional 25% reserved for the ecosystem.
Egorov stated that this credit line is sufficient to create liquidity pools for three assets: WBTC, cbBTC, and tBTC.
"In order to gain more incentives for the Curve ecosystem and to pay fees for using Curve technology (crypto liquidity pools) to drive its core, Yield Basis will allocate 25% of the YB obtained by Yield Basis liquidity providers to Curve," Egorov wrote in the proposal.
Yield Basis reportedly addresses the impermanent loss issue by simultaneously lending and creating supply pools. "Thus, the TVL and debt in Yield Basis can scale to any size without negatively impacting the crvUSD peg," Egorov continued.
Impermanent loss occurs when the value of digital assets deposited in a liquidity pool drops more than if those assets were held outside the liquidity pool. This can happen due to liquidity pool rebalancing and other factors.
Curve Finance is a player in the decentralized finance space, with a total locked value (TVL) of $2.4 billion as of Thursday, according to DefiLlama data. However, this TVL has significantly decreased from a peak of around $24.2 billion in January 2022.
The protocol has been battling attackers, suffering multiple domain name service (DNS) attacks, and encountering fake Curve Finance applications.
As a sector of cryptocurrency, decentralized finance has begun to rise after experiencing a significant downturn from mid-2022 to most of 2023.
Among all protocols, the TVL, as a measure of DeFi health, rose to $163.2 billion on Thursday, up from $115.8 billion on January 1, 2025. This represents a 40.9% growth over the past nine months.
DeFi protocol Aave, with a TVL of $42.5 billion, has been active in the space. In August, it launched on the Aptos ecosystem, a blockchain with fewer competitors in DeFi. Aave is also developing a new version expected to launch in the coming months.
Ethena has also experienced growth momentum, with its synthetic stablecoin gaining attention in the U.S. following the GENIUS Act. It surpassed $500 million in revenue in August 2025.
Related: DBS Bank, Franklin Templeton, and Ripple team up to launch tokenized lending business
Original article: “Curve Finance Community to Vote on $60 Million Proposal to Make CRV a Yield-Bearing Asset”
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