In the wake of July’s unprecedented wave of decentralized finance (defi) breaches, including Curve Finance’s staggering $62 million exploit, the defi economy has plummeted into a gloomy state. Hovering perilously close to dipping beneath the $40 billion threshold, the total value locked (TVL) in defi hangs on by a thread. Concurrently, the market of defi…
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Curve (CRV), the native token that powers the CurveDAO (a decentralized autonomous organization) and decentralized exchange (DEX) Curve Finance, is hovering about 3% higher on Thursday near $0.60, still down about 18.5% from its pre-Curve Finance hack highs in the $0.74 area…. Read More: Curve Price Prediction as Traders Fret About Possible Curve Finance Founder…
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Tether (USDT), the USD-pegged stablecoin issued by web3/fin tech company Tether, fell slightly below its 1:1 peg against the US dollar on Thursday on decentralized exchange (DEX) Curve Finance, pushing the DEX’s main stablecoin liquidity pool (Curve 3pool) into imbalance. USDT fell as low as 0.998 versus its competitor USD-pegged stablecoin USDC and against Maker…
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The exploit on July 30 resulted in the theft of roughly $70 million in cryptocurrencies, bringing the bounty close to $7 million. Decentralized finance (DeFi) platforms Curve, Metronome and Alchemix have jointly announced an initiative to recover stolen funds from the recent exploits of Curve’s pools. According to on-chain data, the protocols are offering a…
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Abracadabra Finance has put forth a proposal aimed to adjust interest rates to mitigate the risk of bad debt resulting from an $18 million loan to Curve Finance founder Michael Egarov. The proposal suggests hiking interest rates on the loan to 200% on two specific pools known as “cauldrons,” which consist of CRV tokens belonging to Michael Egarov. … Read…
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The decentralized stablecoin is facing its first stress test since it was released in May, putting its PegKeeper algorithm to work. Curve Finance’s native stablecoin, crvUSD, briefly depegged on Aug. 3, reacting to an uncertain environment surrounding the protocol after its recent exploit. In the course of the day, the stablecoin fell by as much…
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Du said the existing challenges were transitory and that he believes the industry would benefit from collective support. Jun Du, the co-founder of Huobi, has purchased 10 million Curve DAO Tokens (CRV) for $4 million from Curve Finance founder Michael Egorov, who is seeking to decrease his exposed loan position. In a tweet on Aug.…
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The Curve emergency DAO removed CRV rewards for alETH, msETH, pETH, crvCRVETH, Arbitrum Tricrypto and multiBTC pools. The Curve Finance lending protocol has terminated governance token rewards for select liquidity pools affected by the July 30 Curve exploit and July 6 Multichain exploit, according to an Aug. 2 social media post from a member of…
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Michael Egorov is attempting to pay off his mountain of DeFi debts by selling CRV at a discount. Curve Finance founder Michael Egorov is attempting to offload some of his DeFi positions to alleviate his mountain of debt, but some have highlighted his liquidity sources. On Aug. 1, Nansen research analyst Sandra Leow posted a…
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A Curve Finance hack sparked a sharp sell-off, and while DeFi traders stepped in to support CRV, the possibility of a contagion-level event remains. On July 30, Curve Finance, a decentralized exchange on Ethereum, suffered a hack due to a vulnerability in certain pools built using the Vyper programming language. The price of Curve DAO…
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