On April 27, Curve founder Michael Egorov proposed recovering bad debt in lending protocols by converting impaired positions into tradable investment products. The plan is piloted through Curve's own CRV-long LlamaLend market, which generated approximately $700,000 in bad debt in October 2025. Michael Egorov has established a Curve Stableswap pool with around 71% solvency, allowing the trading of impaired vault tokens. Traders can buy at a discount, liquidity providers can earn fees, and the DAO can accumulate impaired tokens through management fees. Currently, community feedback on the proposal is mixed, with some users questioning the ability to attract buyers for impaired positions that lack immediate benefits.
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Curve Founder Proposes Market-Based Recovery of DeFi Bad Debt
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