DeFi protocol founder shocks with $40 million villa purchase

Curve Finance is a popular one decentralized finance (DeFi) protocol on the Ethereum (ETH) network that got off the ground in 2020. It can now call itself the fourth largest DeFi project on Ethereum with a total value locked (TVL) of $4 billion, according to data from DefiLlama. Curve Finance was designed by Michael Egorov and focuses on optimizing the liquidity of stablecoins. Egorov is also the current CEO of Curve Finance and has now entered Australia’s luxury real estate market with an investment that many investors would not even dream of.

Curve Finance CEO spends $40 million on these villas

Last week wrote the Australian Financial Review namely that Egorov and his wife would have spent no less than 59 million Australian dollars ($ 40 million) to buy two luxurious villas in Melbourne.

Their latest purchase, worth 41 million Australian dollars (about $27 million), is a historic Victorian mansion called Avon Court that was built in the 1870s.

The villa has a total area of ​​4,300 square meters and comes with 9 bedrooms, 7 kitchens, 2 swimming pools, manicured gardens, gym, sauna, maid, wine cellar with 4,000 bottles, garage for 10 cars and two roof terraces with city ​​view.

Avon Court is the second luxury villa the duo managed to acquire, followed by the Italian villa Verona. With 1,412 square feet, two floors and five bedrooms, this villa almost dwarfs Avon Court. The Russian-born couple bought the Italian villa for AUD 18.25 ($13 million).

Ethereum DeFi landscape

Curve Finance is a decentralized exchange (DEX) that uses automated market makers (AMM). An AMM protocol allows buyers to buy coins from a liquidity pool. Users can provide liquidity and receive Curve DAO Tokens (CRV) in return. CRV holders can also co-decide on the development and management of the platform.

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Lido Finance is the largest DeFi protocol on the Ethereum blockchain, followed by MakerDAO and AAVE. Lido is a so-called liquid staking provider that manifests itself as the true leader of the DeFi landscape on Ethereum with a TVL of USD 13.08 billion.

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