Documentation Overview
Curve is a decentralized exchange (DEX) and automated market maker (AMM) on Ethereum and EVM-compatible sidechains/L2s, designed for the efficient trading of stablecoins and volatile assets.
Additionally, Curve has launched its own stablecoin, crvUSD, and Curve Lending, both featuring a unique liquidation mechanism known as LLAMMA.
This documentation outlines the technical implementation of the core Curve protocol and related smart contracts. It may be useful for contributors to the Curve codebase, third-party integrators, or technically proficient users of the protocol.
LlamaLend v1 markets are being phased out and no new v1 markets will be deployed. Use LlamaLend v2 for all new markets and integrations.
Non-technical users might prefer the User Docs site as it offers more general insights and information.
CRV & GovernanceCore smart contracts include the Curve DAO Token, governance infrastructure governed by vote-escrowed CRV, mechanisms for fee collection and distribution, gauges, and many other components.
Gauges & EmissionsSystem of liquidity gauges and the GaugeController that directs CRV inflation to liquidity providers based on veCRV votes.
Curve AMMImplementation of StableSwap and CryptoSwap algorithms into on-chain exchange contracts, including Stableswap-NG, Twocrypto-NG, Tricrypto-NG, pool factories and routers.
crvUSDOver-collateralized USD stablecoin powered by a unique liquidating algorithm (LLAMMA), which progressively converts the put-up collateral token into crvUSD when the loan health decreases to certain thresholds.
Savings crvUSD (scrvUSD)Savings version of crvUSD. An ERC-4626 compliant Vault that earns yield from crvUSD interest fees, with cross-chain oracle support.
LlamaLend v2Permissionless isolated lending markets for any ERC-20 pair, with ERC-4626 vaults, a LendFactory, Configurator, and LLAMMA soft liquidations.
LlamaLend v1 (legacy)Historical reference for the earlier crvUSD-paired lending contracts. Use the v2 reference for new integrations.
FeesFee collection, distribution, and burning architecture including the FeeCollector, FeeSplitter, FeeDistributor, and CowSwapBurner.
IntegrationSection targeted at integrators covering contracts like AddressProvider, MetaRegistry, and the public Curve API.