Tag: finance

CRV exposure risk throws a curveball at the DeFi ecosystem: Finance Redefined

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Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. The $47 million Curve Finance exploit on July 30 had a domino effect on the DeFi ecosystem, mainly due to the $100 million loan taken out by the Curve founder against the platform’s native Curve DAO (CRV) token. Several lending protocols have rushed in with new governance proposals to minimize CRV exposure risks as the token price fluctuates. On Aug. 3, the…

Curve Finance Fights Back With Warning And Unrefusable Offer To Hacker

Curve Finance (CRV) has issued a statement on Etherscan, addressing the hackers responsible for the recent exploit that resulted in the loss of over $60 million from the protocol.  In the statement, Curve, Metronome & Alchemix have invited the hackers to discuss a potential bounty, offering a 10% reward for any stolen funds, which they can keep if they return the remaining 90%. Curve Finance Gives Hackers Ultimatum The group has emphasized that there will be no risk of them pursuing legal action or involving law enforcement if the hackers…

Justin Sun, other crypto investors buy CRV token in attempt to help Curve Finance

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Following a recent exploit on the decentralized exchange, Curve Finance founder Michael Egorov managed to find an answer to his loan dilemma. Thanks to support from a group of backers, including Justin Sun, the principal value of Egorov’s loan on Aave (AAVE) decreased from $63.3 million to $54.1 million. Providing support to the fallen  On July 30, Curve Finance faced a vulnerability linked to the Vyper programming language, resulting in an exploit that led hackers to…

Michael Egorov’s $100 Million Position, A Risk To Curve Finance And DeFi?

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Following the recent exploit of Curve Finance pools, there have been genuine concerns about the stability of the decentralized exchange and the Decentralized Finance (DeFi) ecosystem. A new report has emerged, raising questions about Curve founder Michael Egorov’s $100 million loan positions. These positions have garnered significant interest, as they are backed by about 47% of the entire CRV circulating supply. With the price of CRV dwindling, these debts appear to be at risk of liquidation, putting the Curve protocol, CRV investors, and the overall DeFi space on edge.  A…

Curve Finance (CRV) Liquidation Threat Spooks DeFi Protocols

Another area of focus for teams has been reinforcing the links that lock DeFi protocols together. Last night, a representative for the stablecoin-focused Reserve Protocol, which builds on top of DeFi majors including Lido, Compound and Rocketpool, asked in their respective Discords for help to establish “a more robust incident response strategy” so that its developers can coordinate across teams during crises such as Curve. Source

DeFi Platform Term Finance Brings Fixed Rate Lending to Ethereum

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Curve Finance founder’s $100M debt could trigger a DeFi implosion: Report

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While Curve Finance is still weathering the aftermath of a recent $47-million hack, another issue concerning holders of the decentralized finance (DeFi) protocol’s token has surfaced on the internet, sparking theories on how a massive dump can potentially happen.  On Aug. 1, crypto research firm Delphi Digital published a Twitter thread detailing the loans taken by Curve Finance founder Michael Egorov that are backed by 47% of the circulating supply of Curve DAO (CRV). According to the research firm, Egorov has around $100 million in loans across various lending protocols…

Ribbon Finance Settles First On-Chain Ether (ETH) ‘Autocallable’ With Marex and MEV Capital

How it works: If, after one week, the ether spot price is above the initial price at the time of the trade, the trade terminates early, with the buyer receiving the initial investment plus the 0.5% coupon. If, on expiry, ether trades 15% lower from the initial price, the buyer stands protected, receiving the principal in full along with the coupon. However, if the 85% protection barrier is breached (ether drops over 15%), the buyer takes the loss, which is compensated by coupons to some extent. Source AutocallableCapitalETHEtherFinanceMarexMEVOnChainRibbonSettles CryptoX Portal

Curve Finance exploit triggers massive MEV rewards

The Ethereum network recently witnessed some of the highest Maximal Extractable Value (MEV) reward blocks in history, following a vulnerability on the Curve Finance platform. This event significantly rewarded MEV bots that front-ran transactions during the defi crisis, leading to an unprecedented rise in MEV incentives. Ethereum (ETH) core developer “eric.eth” disclosed in a tweet on July 31 that the MEV rewards that day were amongst the largest in the blockchain’s history. Today has produced some of the largest MEV reward blocks in Ethereum’s history. Slot 6,992,273: 584 ETHSlot 6,993,342:…

Curve Finance (CRV) Exploit Puts More Than $100M of Crypto at Risk

Curve, a stablecoin-focused decentralized exchange (DEX), was the victim of an exploit late Sunday according to a tweet from the project. Curve relies on smart contracts instead of middlemen to offer financial services such as stablecoin borrowing, trading and lending to users. Upwards of $100 million worth of cryptocurrency are at risk due to a “re-entrancy” bug in Vyper, a programming language used to power parts of the Curve system. Several stablecoin pools on the platform — used for pricing and liquidity on a number of different DeFi services —…