Blockworks Advisory illustrative proof of concept for the Curve Risk Assessment and Market Monitoring proposal. Figures and tiers support review discussion.

Blockworks Advisory

Curve Risk

Market monitoring · proof of concept

Curve risk monitoring

Overview

crvUSD peg defence, mint capacity, and LlamaLend market health in one snapshot.

Updated Sep 21, 2026, 8:41 PM

Priority

1 priority alert open for review.

Open alerts

16

1 priority · 15 elevated · 0 review

Active breaches across peg, mint, lending, and collateral monitors.

crvUSD peg

$0.9999

-1 bps from $1.00

Primary stability anchor. Wider gaps raise arbitrage friction and peg defence cost.

PegKeeper debt

$33.8m

14.5% of $232.3m supply

Shortfall financing when pools lean heavy on crvUSD. Rising share is a review signal for peg defence.

Outside in range

3

73.7% weighted util · $23.8m free

Markets in elevated or priority posture, or with heavy soft liquidation conversion in LLAMMA bands.

Mint debt

$75.8m

10.5% of $720.2m ceilings

1 controller in elevated or priority posture.

Collateral review

9

of 24 assets on watchlist

Assets with large drawdowns or thin exit depth relative to protocol exposure.

crvUSD supply

$232.3m

0.1% of borrows in soft liq bands

Outstanding stablecoin float. Rising soft liquidation share is a review signal for collateral pressure.

Modules

LlamaLend

→

23 markets · $90.5m supplied

Utilization headroom, LLAMMA conversion bands, and six dimension health scores per market.

crvUSD mint

→

9 controllers · $75.8m debt

Debt ceilings, soft liquidation inventory, oracle drift, and rate adequacy per controller.

PegKeepers

→

5 active · $33.8m debt

Active debt versus supply, pool skew, and withdrawal capacity at the peg boundary.

Collateral

→

24 assets tracked

Drawdown stress and market depth against outstanding mint and lending exposure.

Alerts

→

16 open

Threshold breaches ranked by severity with cross module context.

Active alerts