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WETH liquidity on Aave has now dropped to almost 0 $6.3b in deposits, almost all borrowed out https://t.co/12sg8bLtrc

there's currently no stablecoin liquidity on aave v3 on ethereum and borrow rates for USDC and USDT have spiked to 15% expect some large withdrawals across multiple chains in the coming hours as aave stablecoin borrowers will start unwinding their cross-chain yield strategies https://t.co/pr0uFk1tHp

aave's USDT0 market on plasma is now also out of liquidity $1.34b deposits, all borrowed out https://t.co/QBilUwH1qT

aave is on a tight clock on resolving this kelpdao exploit situation 100% WETH utilization means no theres no liquidation path if ETH drops to make things worse, liquidity is leaving across other aave markets at the same time causing a liquidity crunch in multiple places at

I wouldn't read too much into "rsETH on Ethereum mainnet is fully backed" Kelp DAO has complete leverage here on who takes the hit, and it makes most sense for them to socialize part of the loss to all rsETH holders Hoping for a good resolution overall