What Gauntlet Experts Say
Gauntlet is a project that deals with risk management on various DeFi platforms. They drew attention to the issuance of a loan in the amount of about $ 67.7 million in stable coins. It was issued on the security of CRV tokens in the amount of 290 million. Analytical companies have determined that this wallet belongs to the founder of Curve, Michael Egorov.
The other day, this address sent about 38 million additional coins to the second version of the Aave protocol. The total amount of collateral is 290 million coins. The amount in fiat reaches almost 185 million dollars. This is about 34% of the total supply of these coins on the market.
Gauntlet specialists reported that the "health factor" of the loan reaches 1.66. This is a safe value, since the position will be automatically liquidated when one is reached. At the same time, experts reported that in recent months the coins have been losing their liquidity. The indicator has already reached 50%.
They propose to freeze the asset and set the indicator at zero for collateral. This will prevent future growth of the deposit in it.