Curve is an exchange. Its main goal is to let users and other decentralised protocols exchange stablecoins (DAI to USDC for example) through it with low fees and low slippage. Unlike exchanges out there that match a buyer and a seller, the behaviour of Curve is different, it uses liquidity pools like Uniswap. To achieve this, Curve needs liquidity (tokens) which is rewarded by those who provide it.

Curve employs a combination of both Constant Product and Constant Sum Invariants, to achieve near zero slippage for relatively high swap volumes. This low slippage implies, most of the massive stable coin volume is generally routed through Curve.

Let us look into how many users have been using Curve for stablecoin swaps for the past 3 months. We shall be using Flipside's curated ethereum.dex_swaps table that has curated swap data on the major DEXes on Ethereum.

A steady 50+ wallets have been interacting with Curve for stable coin swaps. Remember that Ethereum gas fees are significant and most users use DEX aggregators. If the size is relatively small like 10000 USD, chances are the aggregator is going to prefer Uniswap or Balancer

This however doesn't curb the over transaction volume, as there are days of consistent 100M plus transactions.

So what is the most preferred stablecoin pool ?

The first pool 0xbebc44782c7db0a1a60cb6fe97d0b483032ff1c7 is nothing but the OG 3pool, DAI-USDC-USDT pool. This pool is also the largest pool by TVL.