Curve AMM

Curve's Automated Market Maker (AMM) is built around two core invariants — StableSwap for assets that trade near parity, and CryptoSwap for volatile asset pairs. Both algorithms have gone through multiple iterations, with the current generation ("-NG") contracts offering significant gas optimizations, built-in LP tokens, and improved oracle support.

For the mathematical foundations, see the StableSwap whitepaper and the CryptoSwap whitepaper.

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Current Implementations

Stableswap-NG

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Next-generation StableSwap pools for stablecoins and pegged assets. Supports plain pools and metapools with multiple asset types (standard ERC-20, rebasing, ERC-4626).

→ Stableswap-NG

Twocrypto-NG

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Optimized 2-coin CryptoSwap pools for volatile asset pairs with auto-rebalancing, built-in ERC-20 LP tokens, and a hardcoded 50% admin fee.

→ Twocrypto-NG

Tricrypto-NG

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Optimized 3-coin CryptoSwap pools with native transfer support. Used for major volatile pairs like ETH/BTC/USD.

→ Tricrypto-NG

Pool Factory

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Permissionless deployment of liquidity pools, gauges, and LP tokens across all pool types and chains.

→ Pool Factory

Router

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On-chain router that finds optimal swap routes across Curve pools, supporting up to five tokens in a single transaction.

→ CurveRouter-NG

Legacy Contracts

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Earlier implementations of StableSwap and CryptoSwap pools, factory contracts, LP tokens, and deposit contracts. Superseded by the NG versions above.

→ StableSwap Legacy