) loan. Delphi Digital noted that at a liquidation threshold of 55%, the position is eligible to be liquidated at $0.3767. At the time of writing, CRV trades at around $0.5975. This means that a 36% drop could potentially trigger a liquidation.
On Frax Finance, Egorov has 59 million CRV backing a debt of 15.8 million Frax. While the amount is lower, Fraxlend's time-weighted variable interest rate makes the loan more risky. The loan is currently at 100% utilization, and because of this, the interest rate for the loan doubles every 12 hours. While the interest rate is only 81.2%, Delphi Digital said that it can go up to 10,000% in just 3.5 days. This can lead to liquidation regardless of the price of the CRV token.
To combat this, Egorov deployed a Curve pool to incentivize liquidity toward the lending market. The pool gained $2 million in liquidity just 4 hours after its launch and decreased the utilization rate from 100% to 89%.
On Frax Finance, Egorov has 59 million CRV backing a debt of 15.8 million Frax (FRAX). While the amount is lower, Fraxlend’s time-weighted variable interest rate makes the loan more risky.
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