{"id":80059,"date":"2023-06-12T12:38:08","date_gmt":"2023-06-12T09:38:08","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=80059"},"modified":"2025-09-11T14:34:15","modified_gmt":"2025-09-11T11:34:15","slug":"curve-finance-founder-raises-aave-deposit-to-187-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/curve-finance-founder-raises-aave-deposit-to-187-million\/","title":{"rendered":"Curve Finance founder raises Aave deposit to $187 million"},"content":{"rendered":"<p>A wallet tagged as belonging to Curve Finance founder Michael Egorov transferred 38 million CRV tokens worth $24 million to the <a href=\"https:\/\/forklog.com\/en\/news\/what-is-aave\">Aave<\/a> protocol to reduce liquidation risk, Lookonchain analysts noted.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">The founder of <a href=\"https:\/\/t.co\/KJyxZS1wiW\">https:\/\/t.co\/KJyxZS1wiW<\/a> deposited 38M <a href=\"https:\/\/twitter.com\/search?q=%24CRV&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$CRV<\/a> ($24.5M) into <a href=\"https:\/\/twitter.com\/hashtag\/Aave?src=hash&#038;ref_src=twsrc%5Etfw\">#Aave<\/a> due to a 16% drop in <a href=\"https:\/\/twitter.com\/search?q=%24CRV&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$CRV<\/a> price, increasing the health rate to 1.52.<\/p>\n<p>He has deposited a total of 290M <a href=\"https:\/\/twitter.com\/search?q=%24CRV&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$CRV<\/a> ($187M) into <a href=\"https:\/\/twitter.com\/hashtag\/Aave?src=hash&#038;ref_src=twsrc%5Etfw\">#Aave<\/a> and borrowed $71M stablecoins.<a href=\"https:\/\/t.co\/WM1nW8JKwU\">https:\/\/t.co\/WM1nW8JKwU<\/a> <a href=\"https:\/\/t.co\/MGvMDmSv5S\">pic.twitter.com\/MGvMDmSv5S<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1667439041527291905?ref_src=twsrc%5Etfw\">June 10, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The transaction followed a 16% drop in CRV price. The deposited amount increased the collateral health factor to 1.52. Automatic liquidation occurs when the health factor reaches one.<\/p>\n<p>Egorov&#8217;s total deposit on Aave amounts to 290 million CRV ($187 million). The sum represents about 34% of the Curve token&#8217;s circulating supply (CoinGecko).<\/p>\n<p>Against this collateral, the entrepreneur borrowed $71 million on Aave in USDT and USDC stablecoins.<\/p>\n<p>According to CoinGecko, CRV prices fell more than 22% over the last seven days, and the token&#8217;s price declined by 2.4% in the last 24 hours. The total cryptocurrency market capitalization did not change over this period.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/8OavnOD0uPUS9EgxNKRUPGrAKPcxHPaO-mknHZiPDF8sgLsDKh5pCCSCDydjxf3Za0HMQDfYHH6rRBSrxEhNOYM3QzggPhoVq9opaQss5F6I3Uhg-34Mcz-41A_wNIkpY9g3cPR7gjK3LYDms9yaYdc\" alt=\"Curve Finance founder raises Aave deposit to $187 million\"\/><figcaption>Data: CoinGecko.<\/figcaption><\/figure>\n<p>Total value locked on the Aave protocol stands at $5.1 billion (DeFi Llama). Curve Finance&#8217;s TVL stands at $3.94 billion.<\/p>\n<p>Earlier reports indicated that Michael Egorov and his wife Anna purchased <a href=\"https:\/\/forklog.com\/en\/news\/curve-finance-chief-buys-two-melbourne-mansions-for-40-million\">two villas worth about $40m<\/a> in Melbourne.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A wallet tagged as belonging to Curve Finance founder Michael Egorov transferred 38 million CRV tokens worth $24 million to the Aave protocol to reduce liquidation risk, Lookonchain analysts noted.<\/p>\n","protected":false},"author":1,"featured_media":80060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1212,1426,1093,1097],"class_list":["post-80059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-aave","tag-curve-crv","tag-defi","tag-lending"],"aioseo_notices":[],"amp_enabled":true,"views":"26","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80059","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=80059"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80059\/revisions"}],"predecessor-version":[{"id":80061,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/80059\/revisions\/80061"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/80060"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=80059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=80059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=80059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}