The founder of Curve may face liquidation risks for borrowed positions

2024-01-24 17:57:08

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ChainCatcher news, crypto researcher 0xLoki stated that Curve founder Michael Egorov's CRV debt position is once again facing liquidation risks. He has borrowed over $54 million across 6 lending platforms, with collateral and remaining wallet assets primarily being Curve. The safety factors of the 6 debt positions range from 1.28 to 2.29. If the price of CRV drops another 23%, to $0.36, it will trigger liquidation.

Among them, the debt position with the lowest safety factor is Frax Lending, with the current borrowing rate at 35%. If the utilization rate continues to increase, Frax Lending may re-enter a high-interest mode, accelerating the occurrence of liquidation. In this loan, Michael has collateralized 39 million CRV, borrowing 17 million Frax, while the trading volume of CRV on Binance in the past 24 hours was 10.9 million.

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Curve CRV Position Lending

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