Curve DAO opened voting on “Yield Basis,” a plan to pre-mint up to $60 million in crvUSD to seed three Bitcoin pools on Ethereum—WBTC, cbBTC, and tBTC—each capped at $10 million in deposits. The proposal positions the credit as startup liquidity for a new Curve-native AMM.

The requested facility operates as a crvUSD credit line controlled by DAO contracts and an emergency multisig. It would be drawn only as BTC liquidity arrives, avoiding market sales of the stablecoin. Supporters say the AMM keeps constant leverage to remove impermanent loss in crypto pools.

Coverage and forum posts list the vote window as running this week; CoinDesk and other trackers cite Sept. 17–24 UTC. Curve’s own Week 38 update confirms the vote is live.

What the plan would pay to veCRV

Under the proposal, 35%–65% of Yield Basis value would flow to veCRV lockers. A further 25% of Yield Basis tokens would be reserved for the Curve ecosystem to fund ongoing incentives. The remainder would support operations.

Project materials frame the mechanism as a way to grow crvUSD usage while routing protocol revenue to long-term CRV lockers. Debate on the forum centers on credit-line size, controls, and phased deployment.

Separately, industry coverage notes governance pushback around the $60 million pre-mint and its risk safeguards. Discussions reference how the credit would pair with BTC deposits to create Curve LP positions without selling crvUSD.

Curve posts Week 38 “Best Yields & Key Metrics”

Curve News published Week 38 metrics today, Sept. 18. The post highlights TVL at $2.43 billion for the DEX (+1.1% week over week) and a 5.7% weekly increase in minted crvUSD. The update also links to the live Yield Basis vote.

The metrics note Peg Stability Reserves bought back about $14 million of deployed crvUSD to keep the peg firm during a slight deviation. Llamalend showed broader growth across supplied and borrowed balances.

Additionally, the roundup lists top yield markets across stablecoin, ETH, and BTC pairs, with Ethereum Llamalend markets leading this week’s board. It reiterates that, if the vote passes, Yield Basis could launch next week.

Falling wedge pattern and breakout math

Curve DAO Token trades near $0.7936 on the daily CRV/ USD chart and sits just under its 50 day exponential moving average at about $0.8116. The price action since late July compresses inside two downward sloping, converging trend lines, which draws a clear falling wedge. The drawing on the chart also marks a horizontal objective around $1.85 that aligns with the prior impulse measured in July.

A falling wedge is a bullish reversal formation made of two downward sloping, converging trend lines that often precedes a break higher. Confirmation would come with a daily close above the upper wedge line, preferably with rising volume, and a sustained reclaim of the 50 day exponential moving average. Failure would be a clean daily close back below the lower wedge boundary, which currently tracks the mid $0.70 area.

If the breakout confirms, the marked objective implies a move of roughly 135% from the current price. That math takes $0.7936 multiplied by two point three five and yields about $1.865, which is essentially the same zone as the blue line drawn near $1.85. The structure therefore sets a clear technical path: clear the wedge top, hold above the average, and the chart unlocks the $1.85 to $1.87 region as the next major level.

Bullish crossover below zero

Curve DAO Token’s moving average convergence divergence, MACD, on the daily chart shows the MACD line crossing above the signal line while still below the zero line. Latest values print near histogram 0.0034, MACD line −0.0150, signal line −0.0184. This configuration signals improving upside momentum, yet it remains in early stages because both lines are negative.

The histogram has turned positive for several sessions, which confirms the crossover and shows buyers gaining pace. Moreover, the MACD line has curled upward from early September lows, indicating momentum acceleration rather than a one day blip.

However, the signal is not a trend confirmation by itself. Until the MACD line climbs through the zero line and holds there, momentum sits in recovery mode, not in a full bullish phase.

Zero line test and context

The last strong upswing in late July coincided with a rapid MACD surge well above zero. In contrast, August produced a deep roll over with a wide red histogram. Today’s setup marks a shift back toward neutrality, with a zero line test likely next if momentum persists.

If the MACD line pushes through zero, the indicator would align with a broader bullish backdrop and typically support sustained follow through. Until that happens, traders usually treat the signal as constructive but not decisive.

Risk is clear on the gauge. A rollover where the MACD line slips back under the signal and the histogram turns red would negate the improvement. Watch the slope of both lines and the size of the histogram bars for early confirmation or failure.

RSI turns up from early-September low

Curve DAO Token’s relative strength index (RSI 14) prints 49.08, while its RSI moving average sits at 46.18. The gauge has climbed for several sessions. It now hovers just below the neutral 50 line.

The RSI line has crossed above its own moving average from below. This crossover signals improving momentum. It follows an early-September trough that marked the weakest reading since late August.

Through July, the RSI spiked well above the upper band. Then August showed a steady fade back through neutral. Today’s reading shows a shift back toward balance, rather than an overbought or oversold state.

Neutral zone test and what to watch

The 50 area acts as a simple momentum divider. A sustained hold above it would indicate buyers taking control again. Until then, conditions remain balanced.

Meanwhile, the rising slope of both the RSI and its average confirms acceleration. The histogram is not shown here, but the crossover is clear on the lines themselves. This pairs with the recent improvement seen on other momentum tools.

However, the setup can fail. If the RSI rolls back under its moving average and slips toward the mid-40s, momentum would weaken again. Therefore, the next sessions around the 50 mark matter.