ChainCatcher news, according to Lookonchain monitoring, as the price of CRV drops, a user has just been liquidated for 10.58 million CRV (approximately 3.3 million USD) on Fraxlend.

ChainCatcher news, according to Lookonchain data monitoring, Curve founder Michael Egorov has once again sold 7.5 million CRV through OTC and repaid 3 million USDT on Aave.Currently, he still holds a loan of 82.6 million dollars, which includes 51.24 million USDT on Aave, 12 million MIM on Abracadabra, 9.19 million FRAX on Fraxlend, 9.4 million DOLA on Inverse, and 740,000 XAI on Silo.

ChainCatcher message, according to the Debank interface, the health rate of the main loan positions of Curve founder Egorov has recovered to above 1.6.Among them, the loan health rate on Aave V2 is 1.67; the health rates of two loans on Abracadabra are 1.63 and 1.89 respectively; the loan health rate on Fraxlend is 1.91.

ChainCatcher message, crypto analyst dollar.eth posted on social media, "Curve Finance founder Michael Egorov has so far repaid Fraxlend and retrieved 7.5 million CRV, sending it to a new EOA wallet address, and then receiving USDT from an unknown address, which could indicate an over-the-counter transaction. Based on 2.5 million CRV/1 million USDT, the over-the-counter price should be $0.4."

ChainCatcher message, on-chain data shows that Curve founder Michael Egorov is using USDT/USDC to repay debts on Fraxlend and retrieve collateral CRV, with a total repayment of 3.13 million FRAX and over 7.5 million CRV retrieved.

ChainCatcher news, on-chain data shows that Curve founder Michael Egorov has created a new liquidity pool crvUSD/fFRAX on Curve for the CRV/FRAX market targeting FraxLend, where fFRAX is the receipt token for CRV/FRAX on Fraxlend.Currently, the annualized rewards for the crvUSD/fFRAX pool on Curve are as high as 462.5%, while the annualized rewards for CRV/FRAX on Fraxlend are about 70%.

According to ChainCatcher news, monitored by Lookonchain, the address of the Curve founder has exchanged 800,000 LDO (worth $1.33 million), 565,579 USDT, and 1.3 million DOLA for 3.2 million FRAX in the past 6 hours. He then repaid 3.2 million FRAX on Fraxlend to improve the health factor.It is reported that he has deposited a total of 431 million CRV (worth $246 million) and borrowed $101.5 million in stablecoins across multiple platforms. (Source link)

ChainCatcher news, Frax Finance founder and developer DrakeEvansV1 stated in the community that its own lending market Fraxlend will support Curve/Convex LPs as collateral. (Source link)

According to The Block, the hybrid algorithm stablecoin protocol Frax Finance has officially launched its own lending market, Fraxlend, allowing users to borrow or lend assets using any token that is priced by Chainlink. Fraxlend will enable the protocol to mint new FRAX through the lending process.In addition, Fraxlend allows the Frax Finance protocol to directly lend FRAX and earn interest through existing money markets. The protocol can now complete the entire process internally, generating more cash flow that can be used to buy back and burn its governance token FXS. (The Block)