Aave community votes against Gauntlet proposal to freeze CRV collateral

The Aave community unanimously проголосовало против предложения команды Gauntlet о блокировке кредитного обеспечения в токенах Curve DAO (CRV) во второй версии протокола.

предложил заморозить CRV и снизить соотношение кредита к стоимости актива до нуля.

Gauntlet drew a loan of about $67.7 million in stablecoins collateralized by CRV. Analytical services tag the wallet of this user as linked to founder Curve Finance Michael Egorov.

On June 10, the address deposited to Aave V2 an additional 38 million tokens. The collateral value reached 290 million CRV (~$185 million) or about 34% of the asset’s circulating supply.

Experts argued that freezing the funds could prompt Egorov to reduce the loan amount or diversify the collateral to “protect Aave from accumulating bad debts as a result of a potential decline in CRV token liquidity”.

Additionally, locking the coins would simplify transferring the loan to Aave v3.

According to DeBank, at the time of writing the position’s ‘health factor’ for Egorov stands at 1.69. This indicates no immediate risk — liquidation occurs at a value of 1.

Earlier this May, Aave launched the ‘temperature check’ for integrating Coinbase’s Layer-2 solution Base.

In April, the Aave community supported the deployment of the protocol on the zkSync Era network.