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Curve founder proposes recovering DeFi bad debt through a market-based approach
Odaily Planet Daily reports that Curve founder Michael Egorov proposes to recover bad debt in lending protocols by converting distressed positions into tradable investment products.
The plan uses Curve’s own CRV-long LlamaLend market as a pilot, which incurred approximately $700k in bad debt in October 2025.
Michael Egorov has established a Curve Stableswap pool with about 71% solvency, allowing trading of distressed vault tokens.
Traders can buy at a discount, liquidity providers can earn fees, and the DAO can accumulate distressed tokens through management fees.
Currently, community feedback on this plan is mixed, with some users questioning whether distressed positions lacking immediate returns can attract buyers.