July 24, 2024

Doulitsa Press Release Submission

News that change your days

Abracadabra’s Bold Move: 200% Interest Proposed on $18 Million Loan to Curve Founder Amidst Bad Debt Concerns

Abracadabra’s Bold Move: 200% Interest Proposed on $18 Million Loan to Curve Founder Amidst Bad Debt Concerns

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. …
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