10 months ago
1 min read
Curve Finance Founder Makes Strategic Move: Injects $24M Worth of CRV into Aave, Securing 32% of Circulating Tokens
Over the weekend, the founder of Curve Finance, Michael Egorov, executed a noteworthy maneuver by depositing 38 million Curve DAO tokens, worth $24 million, into the decentralized lending platform Aave. This strategic move aimed to increase Egorov’s collateral and minimize the risk of potential liquidation. The scale of collateral controlled by Egorov is particularly remarkable, as it represents 32% of the total circulating supply of CRV tokens. Large token holders like Egorov play a significant role in the DeFi landscape, as demonstrated by his substantial loan of over $64 million in stablecoins collateralized with an impressive 277 million CRV tokens.
