Curve brings StableSwap to Stellar in first non-EVM launch

Curve Finance has launched its StableSwap protocol on Stellar’s mainnet, its first native deployment outside the Ethereum Virtual Machine (EVM) ecosystem. The move brings Curve’s stablecoin trading infrastructure to Stellar, where users can create pools, swap assets and provide liquidity. In its announcement, the Stellar Development Foundation said the deployment was built for Stellar’s smart-contract environment with its support.

StableSwap is designed for assets whose prices tend to stay close, such as stablecoins pegged to the same currency. A pool groups assets so users can trade between them; liquidity providers contribute assets to those pools. A pool works a little like a shared counter for exchanging similar-value assets: traders use it, while providers supply what is available to trade. Curve says its implementation is designed for low-slippage trades between closely correlated assets.

What can users do on Stellar now?

Users can create pools without permission, browse existing pools, swap assets and provide liquidity, according to the announcement. That gives developers and asset issuers a way to set up trading venues for supported assets on Stellar. The launch does not, by itself, establish how much liquidity any pool will attract or which assets will be available in each one.

The deployment is native to Stellar rather than an EVM chain, so Curve’s StableSwap was built for Stellar’s smart-contract environment. The announcement describes it as Curve’s audited StableSwap implementation, but does not provide further technical details about how the contracts were adapted. Curve founder Michael Egorov said demand from institutions helped prompt the search for a deployment beyond EVM networks.

What is still planned for Curve on Stellar?

Curve says it plans to bring FXSwap to Stellar after its audit is complete. That product is designed for assets whose relative prices change, including stablecoins tied to different currencies. StableSwap targets assets that remain close in price; FXSwap is intended to concentrate liquidity around changing market prices for onchain currency conversion.

The distinction matters for the markets the two products can serve. A same-currency stablecoin pool can support swaps between assets intended to hold similar value. Trading between tokens tied to different currencies needs a mechanism designed for prices that move relative to one another. Curve has not given a launch date for FXSwap in its announcement, so that broader currency-conversion use remains planned rather than live.

Curve says its Stellar interface is available now. As pools develop and other applications integrate them, the liquidity could also support trading tied to collateral liquidations or exits from lending positions, the foundation said. Those are potential uses of the pools, not services the announcement says are already active.

Sources and documents

• announcement, the Stellar Development Foundation — stellar.org