DWF Labs plans to apply for a loan of 350 YFI from Yearn

ChainCatcher news, DWF Labs has proposed a partnership regarding CRV and YFI in the Yearn community.

Due to a recently discovered bug in the Vyper version, CRV is facing significant challenges with on-chain liquidity being drained and multiple loan positions potentially being liquidated. To support the CRV community, DWF Labs has accumulated 12.5 million CRV (approximately 5 million USD), becoming one of the largest CRV holders.

DWF Labs aims to establish a long-term partnership with Yearn, deploying a portion of its CRV position and providing liquidity for YFI on CEX and DEX, requesting a loan of 350 YFI (approximately 1.95 million USD) from the DAO treasury. DWF Labs proposes to use up to 3 million CRV (approximately 1.34 million USD) to purchase vCRV and deploy a mixed asset of vCRV and CRV into the vCRV-CRV pool, staking it on Yearn for at least 12 months.

Additionally, DWF Labs agrees to repay the full loan of 350 YFI at the end of the 12-month term and to pay 1% annual interest to the DAO treasury every 4 weeks.