Discussion

• @delphi_digital @delphi_digital on x

  1/ Yesterday, several @CurveFinance pools were exploited. Curve founder, Michael Egorov, currently has a ~$100M loan backed by 427.5m $CRV (about 47% of the entire CRV circulating supply). With $CRV down 10% over the past 24 hours, the health of Curve is in jeopardy. 🧵⬇️ [image]

• @lookonchain @lookonchain on x

  The founder of #Curvefi sold 5M $CRV to Justin Sun at an average price of $0.4 via OTC. https://etherscan.io/... [image]

• @justinsuntron @justinsuntron on x

  Excited to assist Curve! As steadfast partners, we remain committed to providing support whenever needed. Our joint efforts will introduce an @stusdt pool on Curve, amplifying user benefits. Together, we aim to empower the community and forge a decentralized finance!

• @autismcapital @autismcapital on x

  Curve Hack, Liquidations, DeFi, and Contagion Spiral Dropping The Soap (Curve Edition) 🧵 Several months ago, the Russian founder of Curve, Michael Egorov, took out a $100m loan on AAVE to purchase this ultra tasteful (🤮) house in Australia. He used $280M of CRV (at the time)... […

• @udiwertheimer Udi Wertheimer on x

  When FTX collapsed I was in shock for days. Weeks? When I snapped out of it I decided: I can't just sit there and invest in things; It's time to build. Crypto is far too important to let others do all the work. The events of the last few days have reinforced that decision...

• @delphi_digital @delphi_digital on x

  4/ At 100% utilization, which it is currently at, the interest rate will double every 12* hours. The current interest rate is 81.20%, but can be expected to increase to the maximum of nearly 10,000% APY after just 3.5 days. [image]

• @ivangbi_ @ivangbi_ on x

  $CRV seems to be sold in batches OTC, $3M+ at this point. Immediately after receipt of funds, @fraxfinance fraxlend position is repaid. With 3 identical transactions so far (and the first tx looking like a deposit test) - looks like $CRV price is $0.40 in this deal. Unclear if...…

• @napgener @napgener on x

  the crv trade is relatively easy to understand once you accept that the curve founder didn't really take a loan he cashed out

• @lookonchain @lookonchain on x

  The founder of #Curvefi sold 4.25M $CRV to @dcfgod at an average price of $0.4 via OTC again. So far, he has sold a total of 29.25M $CRV via OTC and received 11.7M $USDT. https://etherscan.io/... https://twitter.com/... [image]

• @degenspartan @degenspartan on x

  if pool continues to stays at max utilization his frax position gets auto liquidated within 5 days will likely trigger cascades onchain will likely liquidate his aave position and nuke crv to almost zero

• @runekek Rune on x

  Crisis might be over, at least the most dangerous part of the CRV leverage is being dealt with. Couple more exploits and liquidations then up only 🚀

• @reetikatrades Reetika on x

  Tonight in the latest episode of “it's so over” we have a potential CRV collapse... [image]