TechFlow News — Arkham has posted on social media indicating that $140 million worth of CRV is nearing liquidation.
Michael Egorov, founder of Curve, has borrowed $95.7 million in stablecoins (primarily crvUSD) across five accounts on five protocols, using $140 million in CRV as collateral.
Based on current rates, Egorov must pay approximately $60 million annually to maintain his positions on Llamalend. He holds $50 million in crvUSD debt on Llamalend, currently accruing interest at around 120% APY. This high rate is due to the near-exhaustion of available crvUSD liquidity on Llamalend when using CRV as collateral—Egorov’s three accounts already account for over 90% of all crvUSD borrowed on the protocol. If CRV’s price drops by approximately 10%, these positions may begin to be liquidated.
