Buyback Radar

Curve Finance CRV

Payout, not buybackRank#1▲3Score63

Holders revenue goes to vote lockers (swap fees and bribes), not to a buyback on the market.

Dexs, Ethereum, Polygon, OP Mainnet +18, 192 days of data

Active signals 1

  • New in top 20since Oct 31

    Ranked #1 on Nov 11, up from #4 the day before.

Market cap

$374.4M

price $0.235 · 7d −14.9% · 30d −33.0%

FDV $571.5M (1.5× market cap)

source defillama

Counted per year

$12.8M

holders revenue of the last 30 days, $2.6M, × 365 ÷ 30, × type factor 0.404775 (payouts to vote lockers count 40%)

ve / bribesbuyback share 94%

Pays out 8.4% of its market cap a year, using 94¢ of every $1 it earns.

Not a buyback: counts for 40% in the multiple (type factor 0.404775), so the denominator is $12.8M instead of $31.6M.

Multiple

29.3×

peer median 19.5× (Dexs, 13 tokens), against 29.3× here

Run-rate

18.4×

last 7 days $964k × 52 × 0.4 (type factor) = $20.3M a year

last week's payout to holders ran 1.6× the 30-day pace: the payout is speeding up

What we checked

  1. Valuation

    Multiple 29.3× (type factor 0.404775: payouts to vote lockers count 40%), 1.5× more expensive than its Dexs peers (median 19.5×, 13 tokens). The group's largest earner Uniswap trades at 37.3×: 1.3× cheaper per dollar returned to holders. On total revenue: 11.1×, 1.5× cheaper than the revenue peer median.

  2. Distribution

    ve / bribes: Includes bribes and vote incentives from third parties paid to vote-escrow lockers; no buy pressure on the token. Holders got $2.6M of $2.8M revenue in 30 days → buyback share 94%. DefiLlama: “CurveDEX Bribes Revenue: All bribes revenue to holders”

  3. Sustainability

    Holders were paid on 30 of 30 days (100%); largest single day 21% of the month's holders revenue; paid to holders this week: 86% of the best week in 90 days. Revenue +28% over 7 days and +44% over 30 days, price −33% over 30 days.

What this does not tell you

The figures come from DefiLlama's adapter for each child protocol. Only a few tokens have an on-chain check (see How the buyback really works); for the rest, whether the tokens were really bought, burned or parked in a treasury wallet is not checked here. Unlocks count where DefiLlama or our research has a vesting schedule; team discretion and liquidity depth only once researched.

Flags

  • Data issue: chain mapping missingData issue (chain mapping missing): warning, scores are computed as usual

How the buyback really works

Not researched yet. Everything above comes from DefiLlama and market data only.

Holders revenue / revenue (30d)
$2.6M / $2.8M
last 30 closed days
To holders
Pays out 8.4% of its market cap a year
FDV / dilution
$571.5M / 1.5×
FDV ÷ market cap
Price 7d / 30d
−14.9% / −33.0%
Revenue growth 7d / 30d
+28% / +44%
versus the period before
Divergence
0.77
revenue growth minus price growth, 30d
DEX liquidity
$13.5M
DexScreener, representative pools
24h volume
$39.5M
all markets, CoinGecko
Unlocks 30d
—
DefiLlama's schedule does not cover the next 30 days while tokens are still locked
Revenue multiple
11.1×
market cap ÷ revenue per year
Fee multiple
4.8×
market cap ÷ fees per year
Distance to peak
86%
this week ÷ best week of 90 days
Data since
May 4
first day with holders revenue

Holders revenue and price

Holders revenue per day7-day averagePrice (right axis)▲ ▼ signal days (history below)

Multiple over time

today 29.3× (scored) · peer median 19.5×

Market cap at close ÷ (holders revenue of the previous 30 days × 365 ÷ 30), with holders revenue capped at revenue and × the type factor: the same effective multiple as the peer median. Values above 100× are drawn at the top. Bands as on the meter; dashed line = peer median today.

Signal history

Signal history of this token: date, type, price at the signal, price after 7 and 30 days, change since the signal and the outcome
DateSignalPrice thenAfter 7dAfter 30dSinceOutcome
November 3, 2026Day jumpclosed Nov 4: REV $14k on 2026-11-03 below 1.5 × the old average $99.7k$0.264−7%—−11%30-day check: day 9
November 1, 2026New in top 20active$0.283−9%—−17%30-day check: day 11
November 1, 2026Revenue jumpclosed Nov 1: the condition no longer holds$0.284−9%—−17%30-day check: day 11

Versus peers

Dexs · 13 tokens · median multiple 19.5× · Uniswap is valued 9.9× higher. Per dollar that counts for holders, Curve Finance is 1.3× cheaper.

Main-ranking peers only. Multiples count holders revenue capped at revenue, × the type factor (buyback 1 · buyback + burn 1 · burn 0.75 · mixed 0.75 · distribution 0.5 · unclear 0.5 · ve-distribution 0.25).

This token against its main-ranking peers: multiple, revenue multiple, buyback share, holders revenue, market cap and revenue growth
TokenDistributionMultipleRevenue multipleBuyback shareTo holders 30dMarket capRev. growth 30d
Pharaoh Exchangeve / bribes0.3×0.2×100%$1.3M$2.6M−52%
RamsesXMixed0.7×0.5×97%$368k$2.2M+8%
nestDistribution0.8×0.4×100%$869k$4.4M+32%
upve / bribes2.0×1.0×100%$313k$3.9M−68%
ChainflipBuyback + burn5.4×5.4×100%$520k$34.4M+59%
Aerove / bribes8.7×4.0×96%$7.4M$372.0M−6%
PancakeSwapBuyback + burn19.5×12.8×65%$2.4M$563.6M−29%
RaydiumBuyback27.1×16.8×62%$1.3M$425.4M−65%
Curve Financethis tokenve / bribes29.3×11.1×94%$2.6M$374.4M+44%
UniswapleaderBuyback + burn37.3×37.3×100%$8.2M$3.71B−20%
OrcaBuyback47.8×7.9×16%$130k$75.6M−36%
AsterBuyback + burn50.2×∞—$2.8M$1.69B—
MeteoraDistribution180×5.2×18%$458k$161.9M−60%
Score build-up63 of 100

Total score = 35% valuation + 25% momentum + 20% divergence + 20% quality − penalties, clamped to 0–100. Every number here can be recomputed from the figures on this page.

63of 100#1▲3top 1%
Valuation 18.2Momentum 15.4Divergence 10.2Quality 18.7= 62.6
Valuation35%
52Valuation 52.1: HR half 35.0 (multiple 29.27×; 100 at ≤3×, 0 at ≥100×, log scale), revenue half 69.1 (revenue peer value 1.52×; 0 at ≤0.33×, 50 at 1×, 100 at ≥3×, log scale).Average of two halves. HR half: linear in log(multiple), 100 at ≤ 3×, 0 at ≥ 100×, 0 without effective HR. Revenue half: linear in log(revenue peer value), 0 at ≤ 0.33×, 50 at 1×, 100 at ≥ 3×; neutral 50 when the peer group falls back to the universe.
Momentum25%
62Momentum 61.7: m = 0.5·g7 0.248 + 0.3·(ln(day jump 1.23) clamped ±1.5 = 0.203) + 0.2·g30 0.366 = 0.258; 0 at ≤−0.7, 50 at 0, 100 at ≥1.1.m = 0.5·g7 + 0.3·ln(day jump, clamped ±1.5) + 0.2·g30; 0 at m ≤ −0.7, 50 at 0, 100 at ≥ 1.1. Neutral 50 when g7 or g30 is missing; a missing day jump counts as 0.
Divergence20%
51Divergence 51.1: d = g30 − p30 = 0.766; 0 at ≤0, 100 at ≥1.5.d = max(0, g30 − p30) when g30 > 0; 0 at d ≤ 0, 100 at d ≥ 1.5, linear.
Quality20%
94Quality 93.6: mean of days HR>0 100% → 100.0 (0 at ≤30%, 100 at ≥90%), largest day 21% of HR30 → 86.7 (0 at ≥60%, 100 at ≤15%), distance to peak 0.86 → 94.1 (0 at ≤0.25, 100 at ≥0.9).Average of: share of days with HR > 0 (0 at ≤ 30%, 100 at ≥ 90%), 1 − largest day ÷ HR30 (0 at ≥ 60%, 100 at ≤ 15%) and distance to peak (0 at ≤ 0.25, 100 at ≥ 0.9).

Penaltiesnone

No penalty applies — 10 rules checked, 3 wait for research data

Where the numbers come from
Revenue source
4 active children
DefiLlama adapter per child
Price and market cap
defillama / defillama
latest fetch
Scored on
November 11, 2026
as-of date of the last compute run
On-chain verified
not yet
not checked yet
Protocols behind this token4 at DefiLlama

Per protocol: DefiLlama's methodology text, the distribution type we read from it and the sentence that decided it. The token takes the type of the protocol that returns the most to holders.

  • Curve DEX
    Dexs · Ethereum, Polygon, OP Mainnet, Gnosis, Fantom, Arbitrum, Avalanche, Base, Celo, Mantle, BSC, Fraxtal, Sonic, Ink, Hyperliquid L1, Plasma, Unichain, Monad, Stable, Robinhood Chain, Etherlink
    type ve-distribution · source label
    “CurveDEX Bribes Revenue: All bribes revenue to holders”

    90% of the protocol's share of pool fees, distributed to veCRV holders, plus all bribes.

    CurveDEX Bribes Revenue
    All bribes revenue to holders
    CurveDEX Fees To veCRV Holders
    Fees distributed to veCRV governance token holders
    adapter on GitHub ↗
  • crvUSD
    CDP · Ethereum
    type ve-distribution · source label
    “crvUSD Fees To veCRV Holders: Revenue share to veCRV holders.”

    Revenue share to veCRV holders.

    crvUSD Fees To veCRV Holders
    Revenue share to veCRV holders.
    adapter on GitHub ↗
  • Curve LlamaLend V2
    Lending · OP Mainnet, Ethereum
    type unclear · source text
    “Not applicable — protocol fees route to Curve DAO fee receivers, not CRV token holders.”

    Not applicable — protocol fees route to Curve DAO fee receivers, not CRV token holders.

    adapter on GitHub ↗
  • Curve LlamaLend
    Lending · Ethereum, Arbitrum, OP Mainnet, Fraxtal, Sonic
    type unclear · source none

    No methodology text at DefiLlama.

    adapter on GitHub ↗