News Explorer — Security Firms Propose Dropping Loan Ratio to 0 to Prevent Further Borrowing Against Existing Collateral

Security Firms Propose Dropping Loan Ratio to 0 to Prevent Further Borrowing Against Existing Collateral

Security firms are proposing measures to prevent future loans against $158 million worth of curve CRV tokens on Aave. Gauntlet, a risk management specialist, has posted a proposal to the Aave community members, recommending setting the CRV loan-to-value (LTV) ratio to 0 to impede additional borrowing against existing CRV collateral. This comes after Curve Finance suffered an exploit that put a $168 million stash of founder Michael Egorov’s money at risk of being liquidated, causing bearish sentiment and concerns about falling prices in the DeFi ecosystem.

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Aug 2, 8:29 am

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Security Firms Propose Dropping Loan Ratio to 0 to Prevent Further Borrowing Against Existing Collateral

Security firms are proposing measures to prevent future loans against $158 million worth of curve CRV tokens on Aave. Ga… Read Summary

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Aug 2, 8:02 am

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