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Michael Egorov submits CRV-long LlamaLend market bad debt recovery proposal
Wu reported that Curve Finance founder Michael Egorov submitted a proposal on the Curve governance forum stating that the CRV-long LlamaLend market incurred bad debt after the market crash on October 10, 2025, with approximately 70% of the related treasury assets supporting it, and a shortfall of about $700k. Egorov proposed opening a treasury token exchange through a special liquidity pool based on LlamaLend’s internal mechanism to clear under-collateralized loans and restore bad debt in a free market manner; this mechanism is fully permissionless, requires no behind-the-scenes agreements, and Curve DAO can participate but is not mandatory. Egorov stated that he has established a Curve stableswap pool with an A parameter of 2, liquidity concentrated around approximately 71% coverage ratio, and a swap fee of 1%; Egorov requested Curve DAO to approve a gauge for the liquidity pool used to exchange treasury tokens, allowing market participants to explore related opportunities and arbitrage traders to develop bots.