The jump from curvesim's Python stack to a dedicated C++ simulator isn't just a language flex — brute-forcing millions of parameter combos for the refuels mechanism (the external capital injection that keeps FXSwap liquidity pinned to real FX rates) is computationally intractable in Python at the scale needed. The real alpha here is that open-sourcing this lets asset issuers and market makers independently validate optimal refuel budgets before committing capital, which materially lowers the trust barrier for new tokenized forex pairs to bootstrap on-chain. It's the same playbook gap Uniswap v3 left open — shipping concentrated liquidity without the off-chain tooling to optimize positions — except Curve is pre-empting it by bundling the simulation infra with the protocol. If this meaningfully reduces the cold-start problem for on-chain FX pairs, the CHF/USD pilot's ~100% APR could be the floor, not the ceiling, once more exotic pairs with wider TradFi spreads start launching.

Top comment by @Benthic