Researcher: Curve founder’s lending position may face liquidation risk again

According to BlockBeats news, on January 24, encryption researcher 0xLoki issued an article stating that Curve founder Michael Egorov’s CRV debt position is once again at risk of liquidation. He has borrowed more than $54 million on 6 lending platforms, and the collateral and remaining wallet assets are mainly Curve. The safety factor of 6 bond positions is between 1.29-2.29. If the CRV price drops another 23%, or 0.36U, liquidation will be triggered. Among them, the one with the lowest safety factor is Frax Lending, with the current borrowing interest rate being 35%. If usage continues to increase, Frax Lending may once again engage in loan sharking mode, accelerating the occurrence of liquidations. In this loan, Michael staked 39 million CRV and lent 17 million Frax, while Binance’s CRV trading rate in the past 24 hours was 10.9 million.