Ember: The 159.4 million CRV sold OTC by Curve's founder last August will end its 6-month lock-up period on February 1

ChainCatcher news, according to on-chain analyst Yu Jin's monitoring, Curve founder Michael Egorov's 159.4 million CRV sold OTC last August will end its 6-month lock-up period on 2/1. In August last year, to avoid liquidation of his loans on multiple DeFi platforms, Michael Egorov sold 159.4 million CRV to 33 investors/institutions at a price of $0.4 through over-the-counter (OTC) transactions, in exchange for 63.76 million U stablecoins to repay his loans. These CRV were sold at a price 30% lower than the market price at that time and had a 6-month lock-up period ("ethical lock-up," which would not incur penalties or consequences even if violated).

The lock-up will end in 2 days on February 1. Although there are no constraints on the lock-up, the vast majority of investors have adhered to the lock-up well, keeping the CRV in wallets, depositing them in Curve lock-ups, or in Convex. Only 2 individuals sold a small amount of CRV (12,500 CRV and 50,000 CRV).