Curve Finance launches StableSwap on Stellar, its first non-EVM chain
Curve Finance has deployed its StableSwap exchange on Stellar mainnet, its first native launch outside the EVM ecosystem, with FXSwap planned after an audit.
DEFIBLOCKCHAINNEWS
Sofia Marchetti
10/29/20261 min read
Curve Finance has launched its StableSwap exchange on the Stellar mainnet, the decentralized exchange and the Stellar Development Foundation announced on Thursday, Oct. 29. It is the first native Curve deployment outside the Ethereum Virtual Machine (EVM) family of blockchains, according to The Block.
On Stellar, users can create pools without permission, find existing ones, swap assets and supply liquidity. StableSwap is designed for assets whose prices track each other closely, such as stablecoins pegged to the same currency, wrapped bitcoin tokens and synthetic assets.
Curve founder Michael Egorov said the move beyond EVM networks was driven partly by institutional demand. He said the team had begun looking at non-EVM chains where there was demand, and that Stellar was a good fit because it sits closer to the EVM world than many alternatives.
Why Stellar
Stellar already hosts stablecoins and tokenized assets, including Franklin Templeton's tokenized money market fund, and MoneyGram uses the network for transfers. Denelle Dixon, chief executive of the Stellar Development Foundation, said such assets become far more useful when holders can move between them efficiently, and that Curve brings tested infrastructure for building those markets.
Curve said lending protocols on Stellar could eventually route liquidations or position exits through the new pools, and issuers could use them to create markets for their tokens. Both depend on liquidity growing and on applications integrating the pools first.
The team also plans to bring FXSwap, its design for assets whose prices move against each other, to Stellar once an audit is finished. Curve says FXSwap covers volatile crypto pairs as well as lower-volatility currency and real-world asset pairs. No timeline was given. Launched in 2020, Curve has grown into lending and its crvUSD stablecoin and holds about $1.27 billion in total value locked, DeFiLlama data show.
Source: The Block, DeFiLlama