Curve’s first move beyond EVM wasn’t to Solana, but to Stellar 🤔
$CRV announced officially on 10-29: StableSwap is now live on Stellar mainnet. This is Curve’s first native non-EVM deployment.
A few key facts:
1️⃣ Stellar doesn’t run EVM, so Vyper contracts couldn’t be ported directly. The team rewrote StableSwap from scratch on Soroban (Stellar’s smart contract platform), with support from SDF (Stellar Development Foundation). The pricing math hasn’t changed.
2️⃣ SDF proactively invited Curve to deploy there. In essence, Egorov said there is demand, and it’s coming from institutions.
3️⃣ For now, it’s a lite version: stellar.curve.finance is still in beta, with the first pool now open for swaps and adding LPs. Pool creation is permissionless; the frontend pool-creation feature is coming next.
4️⃣ Fees work just like on other chains: swaps on Stellar also earn a share for Curve DAO / veCRV.
5️⃣ Next up is FXSwap, designed for relatively volatile pairs such as “USD stablecoin ↔ EUR stablecoin.” Development is mostly complete and it’s awaiting an audit; no timeline has been announced.
My take:
The significance of this move isn’t today’s TVL, but two things—
First, Stellar has a bunch of compliant stablecoins and tokenized funds, but what’s missing is a sufficiently deep venue for trading and settlement. Lending protocols will only dare to accept these assets as collateral once Curve pools are available.
Second, once FXSwap goes live, the $XLM ecosystem will have proper infrastructure for on-chain foreign exchange. That’s what Stellar was made for.
Of course, with a lite version, beta, and just one pool, whether liquidity takes off depends on whether issuers and institutions actually put real money in. Just filtering, not educating—making a note for now and waiting for the FXSwap audit and pool data.
Sources: Curve official blog, news.curve.finance; Stellar official press release; The Block (10-29)
Smart contract and depeg risks remain. This is not investment advice.
$CRV announced officially on 10-29: StableSwap is now live on Stellar mainnet. This is Curve’s first native non-EVM deployment.
A few key facts:
1️⃣ Stellar doesn’t run EVM, so Vyper contracts couldn’t be ported directly. The team rewrote StableSwap from scratch on Soroban (Stellar’s smart contract platform), with support from SDF (Stellar Development Foundation). The pricing math hasn’t changed.
2️⃣ SDF proactively invited Curve to deploy there. In essence, Egorov said there is demand, and it’s coming from institutions.
3️⃣ For now, it’s a lite version: stellar.curve.finance is still in beta, with the first pool now open for swaps and adding LPs. Pool creation is permissionless; the frontend pool-creation feature is coming next.
4️⃣ Fees work just like on other chains: swaps on Stellar also earn a share for Curve DAO / veCRV.
5️⃣ Next up is FXSwap, designed for relatively volatile pairs such as “USD stablecoin ↔ EUR stablecoin.” Development is mostly complete and it’s awaiting an audit; no timeline has been announced.
My take:
The significance of this move isn’t today’s TVL, but two things—
First, Stellar has a bunch of compliant stablecoins and tokenized funds, but what’s missing is a sufficiently deep venue for trading and settlement. Lending protocols will only dare to accept these assets as collateral once Curve pools are available.
Second, once FXSwap goes live, the $XLM ecosystem will have proper infrastructure for on-chain foreign exchange. That’s what Stellar was made for.
Of course, with a lite version, beta, and just one pool, whether liquidity takes off depends on whether issuers and institutions actually put real money in. Just filtering, not educating—making a note for now and waiting for the FXSwap audit and pool data.
Sources: Curve official blog, news.curve.finance; Stellar official press release; The Block (10-29)
Smart contract and depeg risks remain. This is not investment advice.