Michael Egorov, CEO of Curve Finance

The CEO of Curve Finance, a decentralized exchange liquidity pool that was established in January 2020 and has received a lot of attention, is Michael Egorov. It is based on Ethereum and made for effective trading of Bitcoin and stablecoins.

While a student, he also worked on cryptography and quantum computing. He decided on studying ultra-cold atoms for his post-doctoral work, and in 2003, he took home the bronze medal in the International Physics Olympiad.

In 2022 and beyond, blockchain narratives will be more about “proof of utility” protocols and platforms. Hopefully, not just about the finance & payments narrative. There is SO much to be invented using this technology.

https://twitter.com/newmichwill

2023

Michael Egorov withdrew out of the platform’s vesting contracts around 12 million CRV tokens, or 11.85 million to be exact, or $5.08 million. Scopescan revealed the information on its official Twitter account. The entity dashboard on Scopescan provides access to the full set of information about this withdrawal.

As per the designated vesting schedule for holders of CRV tokens, Egorov is now qualified to receive 548,600 CRV, or $235,000, per day. Together, these sums equal to 16.7 million CRV, or $7.16 million, per month. Egorov’s large withdrawal of CRV tokens demonstrates the tremendous profit potential present in the DeFi industry, especially for early investors and creators of successful firms such as Curve Finance.

2022

The “Curve Wars,” which refer to several protocols trying to offer their users on Curve Finance the biggest CRV incentives, began at the beginning of 2022 and saw even more protocols integrate Curve. However, these “wars” continue to boost the buying pressure for CRV.

Curve’s ecosystem is increasingly taking shape, and the rise in investors is increasing demand for the platform. It appears that Curve and Egorov will have yet another successful year in 2022. In January, the platform experienced a record-breaking day with $3.2 billion in daily transaction volumes. It is reasonable to predict that if the year is successful for cryptocurrencies, many new records will be set.

This year, the business also plans to introduce a number of new goods and improvements. With Egorov in charge, Curve Finance is poised to enter 2022 with full force.

While NuCypher pursues interoperability, it has revealed “an exciting new prospect” for the future, beginning with the group working on a Polkadot bridge. The Web3 Foundation has awarded a grant to the project, termed “NuLink.”

Latest news about Michael Egorov

• Curve Finance, a prominent DeFi protocol, was exploited on July 30, resulting in losses exceeding $47 million. The hack was a result of a reentrancy vulnerability in Vyper versions 0.2.15, 0.2.16, and 0.3.0 used by stable pools on Curve Finance. The exploit affected several DeFi projects, leading to significant outflows. Curve Finance’s utility token Curve DAO (CRV) declined over 5% in reaction to the news. The hack is part of a broader pattern of attacks on DeFi protocols, resulting in over $204 million in losses in Q2 2023.
• A cyberattack drained $2.3 million from an arbitration bot, causing price manipulation within the Curve finance pool. The attacker took out a flash loan, skewing the WETH/WBTC price ratio, forcing the bot into an unfavorable trade. The incident highlights the risks in automated cryptocurrency trading strategies.

Latest Social posts of Michael Egorov