Curve founder Michael Egorov has completely closed his debt position on the crypto protocol Aave.
After this de facto operation he is no longer active on the famous decentralized lending platform.
Curve’s crypto position: the closure of the debt position on Aave
As Lookonchain reveals, in order to fully close his still-open debt position on Aave, Egorov had to borrow more than ten million crvUSD and exchange them into USDT.
Michael Egorov deposited 68M $CRV ($35.5M) to #Silo and borrowed 10.77M $crvUSD in the past 2 days.
Then swapped $crvUSD for $USDT and repaid the all debt on #Aave.
He currently has 253.67M $CRV($132.52M) in collateral and $42.7M in debt on 4 platforms.https://t.co/stkFvDrlnv pic.twitter.com/oBQ4yiT9Xs
— Lookonchain (@lookonchain) September 27, 2023
In order to obtain this loan on Silo, he had to pledge 68 million CRV tokens, with a total value of more than $35 million.
Now Egorov on Aave has nothing left, while he has debts totaling more than $42 mil
We współpracy z: https://en.cryptonomist.ch/2023/09/27/crypto-news-curve-founder-abandons-aave/
