CRV war was played out on #Aave yesterday and ended with the longer defeating the shorter.
1.🧵
ponzishorter.eth shorted $CRV by borrowing and dumping $CRV;
$CRV guardians bought $CRV, soaring the price to $0.72, and liquidating all collateral of ponzishorter.eth.
1.🧵
ponzishorter.eth shorted $CRV by borrowing and dumping $CRV;
$CRV guardians bought $CRV, soaring the price to $0.72, and liquidating all collateral of ponzishorter.eth.
2.
Why did ponzishorter.eth short $CRV?
There maybe 2 reasons.
1⃣ Profit by shorting $CRV.
2⃣ Liquidate Curve.fi founder's $CRV on #Aave by shorting $CRV.
Why did ponzishorter.eth short $CRV?
There maybe 2 reasons.
1⃣ Profit by shorting $CRV.
2⃣ Liquidate Curve.fi founder's $CRV on #Aave by shorting $CRV.
3.
ponzishorter.eth began to borrow a small amount of $CRV and sell from Nov 14, causing the price to slowly drop from $0.625 to $0.464, a drop of 26%.
If he shorts $CRV through the perpetual contract on CEX, he will make a great profit.
etherscan.io/address/0x57e0…
ponzishorter.eth began to borrow a small amount of $CRV and sell from Nov 14, causing the price to slowly drop from $0.625 to $0.464, a drop of 26%.
If he shorts $CRV through the perpetual contract on CEX, he will make a great profit.
etherscan.io/address/0x57e0…
4.
ponzishorter.eth's shorting of $CRV also makes many people who use $CRV as collateral face liquidation.
Among them is the Curve.fi founder, whose health rate on Aave has dropped to 1.5( currently 1.62)
debank.com/profile/0x7a16…
ponzishorter.eth's shorting of $CRV also makes many people who use $CRV as collateral face liquidation.
Among them is the Curve.fi founder, whose health rate on Aave has dropped to 1.5( currently 1.62)
debank.com/profile/0x7a16…
5.
So, ponzishorter.eth increased the scale of borrowing and selling $CRV.
The Curve.fi founder also increased the collateral.
ponzishorter.eth attempt liquidate https://t.co/KJyxZS0Yto founder's $CRV on #Aave by shorting $CRV.
So, ponzishorter.eth increased the scale of borrowing and selling $CRV.
The Curve.fi founder also increased the collateral.
ponzishorter.eth attempt liquidate https://t.co/KJyxZS0Yto founder's $CRV on #Aave by shorting $CRV.
6.
Why did ponzishorter.eth choose to short $CRV instead of other tokens?
We try to introduce the $CRV token and the war on $CRV last year.
Why did ponzishorter.eth choose to short $CRV instead of other tokens?
We try to introduce the $CRV token and the war on $CRV last year.
7.
$CRV is the governance token of the Curve Finance.
$CRV holders stake and lock $CRV for 1 week to 4 years to obtain $veCRV.
So that they can vote to determine how many $CRV token rewards each pool can get.
$CRV is the governance token of the Curve Finance.
$CRV holders stake and lock $CRV for 1 week to 4 years to obtain $veCRV.
So that they can vote to determine how many $CRV token rewards each pool can get.
8.
The current total supply of $CRV is 1,856,964,180 $CRV and the circulating supply is 636,299,989 $CRV.
Only 30.3% of the total supply is in circulation.
The current total supply of $CRV is 1,856,964,180 $CRV and the circulating supply is 636,299,989 $CRV.
Only 30.3% of the total supply is in circulation.
9.
Here is the top 20 holders of $CRV.
The top 20 holders hold a total of 1.59M $CRV, accounting for 85.76% of the total supply.
Here is the top 20 holders of $CRV.
The top 20 holders hold a total of 1.59M $CRV, accounting for 85.76% of the total supply.
10.
Since locking $CRV can gain voting weight, many protocols such as Convex, Frax, Spell, etc. want to gain the control of Curve voting rights by accumulating $CRV to the greatest extent.
You can read @JackNiewold's thread about $CRV War here.
Since locking $CRV can gain voting weight, many protocols such as Convex, Frax, Spell, etc. want to gain the control of Curve voting rights by accumulating $CRV to the greatest extent.
You can read @JackNiewold's thread about $CRV War here.
https://twitter.com/JackNiewold/status/1476334616797749248
11.
Here is the top 20 holders of $veCRV.
Convex holds 284M $veCRV, accounting for 51.77%, and has gain the relative control of Curve voting rights.
Convex totaly locked 286M $CRV($183.5M) for 4 years.
Here is the top 20 holders of $veCRV.
Convex holds 284M $veCRV, accounting for 51.77%, and has gain the relative control of Curve voting rights.
Convex totaly locked 286M $CRV($183.5M) for 4 years.
12.
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