Term Finance integrating crvUSD within its Fixed Rate lending protocol


Term finance would like to explore creating borrow/lend markets relevant to the Curve DAO Ecosystem. We would like to open the dialogue to discuss what assets would be most relevant and how those assets can be used to achieve the most mutual benefit between the protocols.


Term finance is a fixed rate borrow/lend protocol using an auction mechanism to originate loans at institutional scale. The protocol is currently deployed on Ethereum having launched in August after audits from Sigma Prime, Runtime Verification and conducting a private Beta since June.

To date, the protocol has originated nearly $3m in loans backed by high quality assets (wstETH, sDAI primarily). Term is interested in having an open discussion around what Curve Ecosystem assets would represent the highest benefit to Curve users (e.g. post crvUSD as collateral to borrow wBTC or lend/borrow crvUSD against wBTC as collateral).

There would be no immediate change to the Curve DAO Ecosystem. If there is interest and general adoption of the Term finance protocol, the creation of a gauge(s) related to the receipt tokens issued to lenders on the Term finance protocol could benefit from utilizing Curve as a secondary market and the creation of a gauge(s) could increase liquidity for such markets.


Increase the types of high quality markets offered on the Term finance protocol and over time utilizes Curve as a secondary market venue for the trading of Repo tokens issued to lenders.


Term finance protocol has the ability to support ERC20 tokens and 4626 tokens


Expanding utility of Curve ecosystem assets including crvUSD through the Term finance protocol


We have enough utility thank you very much.


I am excited for new partnerships and integrations. Is Term Finance’s primary means of managing regulatory risk to restrict access through geolocation?


Geoblocking is one of three core methods for how the protocol addresses regulatory risk arising from users of the dapp. The other two are running wallets through screening services and the legal structure for the associated entities, including what will ultimately become the wrapper for a DAO.


I have heard from folks outside of the Forum that have had suggestions. For example:

  • borrow wETH against crvUSD
  • borrow crvUSD against some other collateral

I am assuming there are other thoughts or suggestions so welcome the community’s feedback. If you would recommend posting this questions in the discord or other venue please let me know.