Curve DAO selects yRisk as new risk provider for crvUSD and Llamalend

Curve DAO has approved yRisk as its new risk provider for crvUSD and Llamalend, replacing LlamaRisk after a selection process that began in July. The decision was finalized on Sept. 2 with a binding vote of over 621 million veCRV in favor and only 5.33 against.

yRisk is a two-person team who describe themselves as primary developers of Resupply, a protocol that suffered a $9.6 million exploit in June 2025. This connection was not mentioned in yRisk’s proposal or Curve’s review.

Strong community backing

An earlier non-binding vote for yRisk received 536.9 million veCRV in support, with no votes against. The final binding vote passed with even stronger backing, and funding was executed shortly after.

yRisk will receive 125,000 frxUSD and 568,181 CRV through one-year vesting streams. The CRV portion alone is worth about $209,000 at current prices, after CRV rose 78% over the past 30 days.

Concerns over capacity

Swiss Stake, which reviewed the bids for Curve, noted that yRisk’s small team size raised questions about their ability to handle the workload. The assessment recommended starting with a limited mandate and reviewing progress before expanding.

LlamaRisk, the previous provider, left 10 months into its one-year term, citing a shift in its broader business focus rather than any issue with Curve.

What the mandate covers

yRisk will oversee risk management for crvUSD, a stablecoin with a circulating supply of $285.5 million, and Llamalend, a lending protocol with $76 million in deposits on Ethereum and $1.75 million on Optimism.

Sources

• The Defiant