ABCDE researcher: If CRV falls to $0.36, Curve founders will face liquidation

Researcher 0xLoki warns that Michael Egorov, the founder of Curve, is facing liquidation risk again for his CRV debt vault. He borrowed over $54 million across six lending platforms, with the collateral and remaining assets mainly being Curve. The safety factors of the six debt vaults are between 1.29-2.29. If the CRV price drops another 23%, or 0.36U, it will trigger liquidation. Among them, the lowest safety factor is in Frax Lending, with a current borrowing interest rate of 35%. If the utilization rate continues to increase, Frax Lending may once again open up high-interest loan mode, accelerating the occurrence of liquidation. In this loan, Michael mortgaged 39 million CRV and borrowed 17 million Frax, with the past 24-hour CRV trading rate on Binance being 10.9 million.