Curve founder repays Aave loan, still owes $42m to defi lenders
Michael Egorov, the co- founder of Curve Finance, has completely settled his debt on Aave after depositing 68 million CRV, equivalent to approximately $35 million, to Silo. Egorov withdrew 10.7 million of crvUSD, Curve’s decentralized stablecoin, from the non-custodial lending protocol following his CRV deposit, according to on-chain analytics provider, Lookonchain. After that, he swapped them for USDT before repaying his debt on Aave, a decentralized lending and borrowing protocol on Ethereum. You might also like: Curve Finance exploit triggers massive MEV rewards Still, the Curve founder still owed approximately $42 million to four defi lenders , including Silo, Fraxlend, Inverse, and Cream Finance, collateralized by 253.7 million CRV valued at $132 million. 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 coll...