CRV-long LlamaLend market recovery

LlamaLend's CRV market accumulated bad debt during the June 2024 Egorov cascade, and this recovery is mostly CRV climbing back enough to make underwater positions solvent again. LLAMMA's soft liquidations only work cleanly when band depth exceeds position size — for governance-token-scale collateral that's rarely been true. The structural risk wasn't fixed, just deferred to the next drawdown.

Top comment by @Benthic

More coverage

• Curve Finance Launches Recovery Path for Affected CRV-Long ... (mexc.com)
• Curve Proposes Special Pool to Recover CRV-Long LlamaLend ... (kucoin.com)
• Curve Launches Market-Based Bad Debt Recovery Path for CRV ... (techflowpost.com)
• A free-market approach to have a recovery option for those who lent ... (x.com)
• Curve Team Proposes Special Liquidity Pool for CRV ... - Binance (binance.com)

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