The On-chain Proposal by Aave to reduce V2's Exposure to CRV risk has been Approved
July 2 (Cointime) -According to AAVE, As Liquidation Threshold reductions may lead to user accounts being eligible for liquidations upon their approval, we want to clarify the full implications to the community at each step. To best minimize this impact, we suggest reaching the desired settings by a series of incremental decreases, following the Risk-Off Framework previously approved by the community, with a reduction of up to 3% in any given AIP. In an attempt to avoid liquidations, Chaos Labs will publicly communicate the planned amendments and list of affected accounts leading to the on-chain execution.
Justin Sun deposited 11,910 $AAVE($776K) into Huobi 20 mins ago
June 26 (Cointime) - According to Lookonchain, Justin Sun deposited all 11,910 $AAVE($776K) into #Huobi 20 mins ago.Justin Sun deposited 49K $AAVE ($16M) to #Binance on Oct 27, 2021, when the price was $327.And deposited 59.5K $AAVE ($8.8M) to #Binance on Jan 28, 2022, when the price was $148.
Whale "0x5a80" transferred 38,000 $AAVE ($2.46M) to Exchange
June 26 (Cointime) -According to Lookonchain, that whale"0x5a80" transferred 38,000 <a href="https://twitter.com/search?q=%24AAVE&src=cashtag_click">$AAVE</a> ($2.46M) out 30 mins ago.The 38,000 <a href="https://twitter.com/search?q=%24AAVE&src=cashtag_click">$AAVE</a> is being transferred to exchanges through multiple addresses.
A Whale bought 5,091 $AAVE at $66.67
June 26 (Cointime) -A whale borrowed 339,448 <a href="https://twitter.com/search?q=%24USDC&src=cashtag_click">$USDC</a> from <a href="https://twitter.com/hashtag/Aave?src=hashtag_click">#Aave</a> 1 hour ago, bought 5,091 <a href="https://twitter.com/search?q=%24AAVE&src=cashtag_click">$AAVE</a> at $66.67, and deposited to <a href="https://twitter.com/hashtag/Aave?src=hashtag_click">#Aave</a>. The whale has bought a total of 35,672 <a href="https://twitter.com/search?q=%24AAVE&src=cashtag_click">$AAVE</a> ($2.64M) since Apr 6, the average buying price is $73.92.
Concerns Raised Over CRV Deposits on AAVE Being Used for Collateralization
June 23 (Cointime) - The amount of CRV being used as collateral on Aave has been growing rapidly, raising concerns about potential risks. This surge in lending and borrowing positions was caused by Curve Finance raising its debt ceiling through a proposal that was passed on June 8th.
Aave Community Rejects Gauntlet Proposal to Address Risk from Michael Egorov's Substantial Loan
June 19 (Cointime) - The Aave community unanimously rejected a proposal from DeFi risk management project Gauntlet to freeze CRV tokens on Aave v2 and reduce the loan-to-value ratio for CRV to zero.
Curve DAO's CRV Token Drops 12% Due to Risky Loans by Founder on Aave, Faces Liquidation Threat
June 16 (Cointime) - Curve DAO's governance token, CRV, saw a 12% decline on June 15 following reports of its founder, Michael Egorov, taking risky loans on Aave. Egorov deposited 431 million CRV, which accounts for over 50% of the token's circulating supply, across various decentralized lending protocols and borrowed $101.5 million in stablecoins. According to DeFiLlama data,
Wallet Linked to Curve Founder Repays $1.3M to Aave Amid CRV Token Decline
June 15 (Cointime) - The founder of Curve Finance, Michael Egorov, has sent $1.3 million worth of tether (USDT) from his wallet, which is linked to a large debt taken from Aave. This partial payback eases the risks associated with the loan, which has drawn attention from some members of the Crypto Twitter community. Egorov's wallet currently holds over 288.7 million Curve DAO (CRV) tokens, valued at $167 million, and has around 60.7 million USDT borrowed against it. The open position has a health rate of 1.55, but will be automatically liquidated if it drops below 1.00.
DeFi Risk Management Project Advises Aave to Freeze Curve DAO Tokens Linked to Michael Egorov's Loan Position
June 15 (Cointime) - Gauntlet, a DeFi risk management project, has advised Aave's governance body to freeze Curve DAO Tokens associated with a loan position linked to Curve Finance founder Michael Egorov. Gauntlet is a contributor to Aave and focuses on strengthening the platform's security.
Founder of dForce: The Founder of Curve Mortgages a Large Amount of CRV and Borrows Stable Coins, Which Is Extremely Risky
Mindao, the founder of dForce, said in a post, “The founder of Curve has deposited more than 33CRV coins in Aave and borrowed 71 million stable coins. This is a great risk to Curve’s ecology and Aave. The risk is intensifying. AaveV2 has no deposit limit, which makes it impossible to control the collateral exposure. The only thing that can be done is to increase the cost of USDT borrowing. Mortgaging your own currency for leverage seems to be a reluctance to sell, but it is actually a kind of tempting short.
