Aave [old]

Curve DAO Token

<h3 id="introduction">Introduction</h3><p>Curve’s founder, Michael Egorov, has effectively squared his debt on the groundbreaking decentralized lending platform, Aave. Recent <a href="https://blockchainreporter.net/glossary/on-chain/" rel="noopener noreferrer nofollow">on-chain</a> information reveals his financial endeavors.</p><h3 id="recent-transactions">Recent Transactions</h3><p>According to data sourced from Lookonchain, a renowned <a href="https://blockchainreporter.net/glossary/web-3-0/" rel="noopener noreferrer nofollow">web3</a> data analytics provider, Michael Egorov made some notable moves in the <a href="https://blockchainreporter.net/defi/" rel="noopener noreferrer nofollow">decentralized finance (DeFi)</a> world recently. Over a span of two days, he poured in 68 million CRV, equivalent to $35.3 million, into the non-custodial lending protocol known as Silo. From there, he borrowed 10.8 million of Curve’s innovative decentralized <a href="https://blockchainreporter.net/glossary/stablecoin/" rel="noopener noreferrer nofollow">stablecoin</a>, crvUSD. Not stopping at that, Egorov then traded the crvUSD for Tether’s USDT and subsequently cleared his debt with Aave.</p><h3 id="standing-collateral-and-debt">Standing Collateral and Debt</h3><p>Currently, Egorov holds an impressive 253.7 million CRV, translating to around $132 million, as collateral. This collateral backs his remaining debt, amounting to $42.7 million, which is spread across four distinct DeFi platforms. A breakdown of this reveals debts of 17.1 million crvUSD on Silo, 13.1 million FRAX on Fraxlend, 10 million DOLA on Inverse, and a combined debt of $2.5 million in USDC and USDT on Cream.</p><h3 id="past-liquidation-mitigations">Past Liquidation Mitigations</h3><p>In a strategic move in August, Egorov let go of 106 million CRV, garnering a neat sum of $46 million. This sale aimed at curtailing the lurking liquidation threats tied to his debts across multiple DeFi platforms. To further safeguard his position, Egorov has been actively converting his CRV tokens to stablecoins.</p><h3 id="notable-sales-deals">Notable Sales Deals</h3><p>Several key players in the crypto sphere entered into token transactions with Egorov. Noteworthy among these are deals with <a href="https://blockchainreporter.net/glossary/trading/" rel="noopener noreferrer nofollow">crypto trading</a> magnate Wintermute, Tron’s iconic founder Justin Sun, and NFT enthusiast Jeffrey Huang, also known as Machi Big Brother. However, the crown jewel was an <a href="https://blockchainreporter.net/glossary/over-the-counter-otc/" rel="noopener noreferrer nofollow">OTC</a> deal where an unidentified party procured a whopping 17.5 million <a href="https://curve.fi/" rel="noopener noreferrer nofollow">Curve</a> (CRV) tokens from Egorov.</p>

Curve’s Egorov Clears Debt on Aave: A Deep Dive into His Financial Moves

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