Curve DAO’s native token, CRV, earlier today experienced a tumultuous period marked by significant liquidations and a steep price drop. This crisis resulted from a test of Curve Finance’s soft liquidation mechanism and was exacerbated by the extra large positions held by Michael Egorov, the founder of Curve Finance, resulting in a $10M bad debt. However, recent developments, including Egorov’s repayment of a substantial portion of the debt and strategic measures to stabilize the token, have led to a slight recovery of the CRV price. What we know so far about the Curve Finance liquidation crisi…