- The 0-day attack caused by a reentrancy exploit for Curve Finance put Curve loans at risk of liquidation.
- Tron founder Justin Sun announced a partnership with Curve after purchasing 5 million CRV tokens to prevent liquidation.
Amidst the turbulence faced by Curve Finance, the founder of Tron, Justin Sun, has taken action to safeguard against potential bad debt risks from falling CRV token prices due to a July 30 reentrancy exploit regarding the Vyper Compiler.
Sun purchased over $2 million worth of CRV to offset the losses that Curve Finance experienced from the exploit, which put a substantial $168 million loan at risk of liquidation.
Curve loans have been carefully managed by the protocol’s founder, Michael Egorov, who has been making transfers and repaying stablecoin loans to avoid liquidation.
Tron’s partnership with Curve Finance brings a positive development. The collaboration introduces a stUSDT pool on the Tron Network, aiming to empower the community by enabling USDT to be staked across Ethereum and Tron for Real World Asset (RWA) investment.
Conclusion
The introduction of the stUSDT pool on the Tron Network aims to create a thriving DeFi space within the network, providing the community with more accessible and efficient ways to participate in decentralized financial activities and contribute to the liquidity and growth of the Tron DeFi ecosystem.
