Performances
RD Popularity Index
RD Growth Index
Revenue & Burn
Protocol income
$21.75KBuyback funds
--Burn funds
--Buyback ratio
--Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Oct 2026 | $21.75K | -- | -- | -- |
| Sep 2026 | $40.58K | -- | -- | -- |
| Aug 2026 | $39.09K | -- | -- | -- |
| Jul 2026 | $23.06K | -- | -- | -- |
| Jun 2026 | $11.84K | -- | -- | -- |
| May 2026 | $14.21K | -- | -- | -- |
Comparison
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People
About Curvance
Curvance is a decentralized lending protocol focused on stablecoins and yield-bearing assets, operating across multiple chains including Ethereum, Arbitrum, Optimism, and Monad testnet. Its core business allows users to deposit assets, borrow stablecoins, and leverage positions up to 25x, with loan-to-value ratios as high as 95-97% on top-tier collateral like ETH and BTC.
The protocol's key differentiator is its modular architecture. Each market operates as an isolated "compartment" with its own risk parameters, collateral caps, and debt limits. This design prevents contagion—a failure in one market does not affect others. Curvance also employs dual oracle systems, volatility circuit breakers, and a dynamic liquidation mechanism where the liquidation threshold adjusts based on the health of each position, reducing the risk of cascading liquidations.
The main pain point Curvance addresses is liquidity fragmentation across DeFi. Users often must navigate multiple protocols to borrow, lend, and earn yield efficiently. Curvance unifies these functions in one platform, while its isolated market design solves the systemic risk problem common in shared-pool lending protocols.
In the past six months (March to September 2026), Curvance has focused on technical development and testnet deployment. The protocol launched on Monad testnet, allowing users to test its lending and leverage features. Development has prioritized security hardening, including additional audits and stress testing of the liquidation engine. The team has also been preparing for mainnet launch, with documentation and developer tools being finalized. No major protocol upgrades or partnerships were announced during this period.
Regarding risks, Curvance is a relatively new protocol with no long-term track record under extreme market conditions. While it has undergone audits, the codebase has not been battle-tested at scale. The high leverage and LTV ratios offered, while attractive, also amplify potential losses during sharp market downturns.
Curvance was founded in 2021 as a decentralized stablecoin lending protocol, initially focused on LP assets from the Curve, Convex, Aura, and Frax ecosystems, aiming to optimize yields and maximize capital efficiency through peer-to-peer lending.
In December 2023, Curvance completed a $3.6 million seed round with participation from Offchain Labs, Wormhole, Polygon co-founder Sandeep Nailwal, and core contributors from Curve, Convex, Balancer, and Pendle, laying the foundation for subsequent development.
In August 2024, Curvance launched its public testnet on Ethereum Sepolia, Arbitrum Sepolia, and Berachain bArtio V2, marking a key step from development to real-world validation.
In November 2025, Curvance completed a $4 million strategic round led by F Prime Capital and 0xPrimal, with participation from GSR, Flowdesk, and others. The funds will be used for mainnet launch, audits, team expansion, and broader asset integrations, while showcasing security designs such as dual-oracle pricing, circuit breakers, and MEV-capturing liquidation auctions.
Over the past six months (2026-03-02 to 2026-09-02), Curvance has made significant strides in expanding its stablecoin lending ecosystem on Monad. Key developments include:
Launch of the Agua Global Carry Vault strategy, managed by Reservoir, targeting the aguaUSDCgc | USDC market. This allows users to gain USDC-denominated exposure through composable on-chain assets.
Integration of PT-AUSD (Pendle principal token) as collateral, enabling users to borrow against fixed-yield positions without unwinding them. This supports leveraged looping and flexible rebalancing.
Introduction of the hyAUSD High Yield Vault, an ERC-4626 compliant automated strategy that optimizes AUSD lending across Curvance markets, with no vault fees at launch.
Enablement of savUSD/USDC looping strategies, leveraging Monad's low transaction costs and fast finality to make yield amplification accessible to smaller positions.
Official roadmap priorities emphasize capital efficiency, isolated market risk, and composability. Future focus includes expanding collateral types, refining vault strategies, and deepening integration with Monad's DeFi ecosystem.
Curvance was co-founded in 2022 by Chris Carapola and Michael Butcher.
Chris Carapola (Twitter: @0xMai) is co-founder and CTO. He studied finance/mathematics at Pace University and earned an MS in Finance from Johns Hopkins University; he previously worked as a TCA and Market Structure Analyst at T. Rowe Price and participated in merger arbitrage strategy development at Capstone Investment Advisors.
Michael Butcher is co-founder, with limited public bio information.
No other current core executives are listed in public sources.