Curve DAO approved a proposal to fund yRisk as risk provider for crvUSD and Llamalend on Sept. 2, ending a selection process that ran since July and replacing LlamaRisk, which left the job 10 months into a one-year renewal.
yRisk is two people, and by their own account in the proposal Curve voted on, they are “primary Resupply developers” and “core developers at Yearn and Resupply, through their respective limited companies.”
Resupply, a stablecoin and lending protocol built on top of crvUSD and CurveLend, was exploited for $9.6 million in June 2025 through a donation attack that rounded a vault exchange rate to zero. The exploit is not mentioned in the proposal.
Zero Votes Against
The DAO ran nine parallel non-binding preference votes from Aug. 10 to Aug. 17, one per bidder, and holders could back more than one. yRisk’s temp check drew 536,968,660.7 veCRV in favor and none against from 47 voters, or 68.78% of the veCRV supply at the snapshot block.
CrossWorlds came second at 401.4 million for and 236 million against. Blockworks Advisory, Xerberus and Pharos Watch each drew fewer than 300 votes in favor against more than 536 million opposed.
The binding vote came later. Proposal 1492 closed Sept. 2 at 15:04 UTC with 621,165,847.95 veCRV in favor and 5.33 against, and executed 87 minutes afterward.
It pays yRisk through two revocable one-year vesting streams: 125,000 frxUSD of principal held in sfrxUSD, and 568,181 $CRV, with all sfrxUSD yield returning to the Curve treasury. yRisk had asked for $250,000 a year. The $CRV leg alone is worth about $209,000 at Thursday’s price, after $CRV rose 78% over the past 30 days.
The Capacity Question Curve Raised
Swiss Stake, the entity that reviewed the bids for the DAO, praised yRisk’s Curve experience and open deliverables and then wrote, in its Aug. 3 assessment: “The main concern is capacity. Two contributors with other responsibilities would need to cover both scopes, support a fast pace of new Llamalend markets, and monitor a growing risk surface. It is not yet clear whether they can sustain that workload and provide sufficient incident coverage as the number of markets expands.”
The same assessment recommended a limited first mandate for whoever won: “The largest uncertainty is the quality of the risk work each team would deliver in practice. Regardless of which option is preferred, we therefore recommend an initial limited mandate with a public review checkpoint before the DAO decides whether to continue or expand the engagement.”
Curve founder Michael Egorov wrote the call for proposals and the result post under the forum handle michwill.
LlamaRisk Left Ten Months Early
LlamaRisk posted its exit on May 29: “We renewed with Curve in April 2026 with the intent to serve through April 2027. The change in our broader engagement structure has made that timeline no longer feasible.” It called the move “a structural decision about where LlamaRisk concentrates its resources going forward, not a reflection of our view of Curve,” ended active work on June 30, and returned about 270,247 crvUSD of unvested funding to the treasury. Egorov opened the call for proposals on July 7.
What The Mandate Covers
crvUSD circulating supply was $285.5 million on Wednesday, down from $302.5 million a week earlier and up from $226.3 million a month before, according to DefiLlama.
Llamalend v1 held $76 million in deposits against $44.1 million borrowed, almost all of it on Ethereum. Llamalend v2, which launched on Optimism in June, held $1.75 million against $740,920 borrowed. Curve’s protocols together held $1.33 billion. $CRV traded at $0.3672 at 7:32 a.m. ET Thursday, up 1.6% on the day and 8.5% over the week, with a market capitalization of $570.7 million and a rank of 95, according to CoinGecko.
