olimpio
olimpio|Apr 20, 2026 15:25
Not worth it to be in defi right now. Risk has became outsized compared to opportunity $290m stolen and we have a 3 day delay without any of the involved parties clearly explaining what happened and the potential extent of ramifications Looks like they've all lawered up and the chosen pathway is to shift blame and point fingers • Aave says mainnet rsETH is 100% backed • LayerZero says Kelp is negligent for ignoring their +1/1 DVN suggestion, posting a poor post mortem • KelpDAO says that is LZ's default configuration, and that it was L0's infrastructure was compromised Meanwhile: all layerzero transfers halted (that includes USDT0), aave at 100% utilization is critical markets, ethena with 270m USDT stuck in aave mantle, htx/justin sun exposed, curators pulling from markets, aave losing 35% TVL, sUSDe slightly offpeg, borrow yields skyrocketing All of this is expected given the ramifications, but, comparatively, let's take a look at how Fluid handled comms/resolution in the Resolv hack (granted, hole was much smaller). If the goal is not to 100% screw over all users, protocols need to get in a room and work together The three of them are at fault, Kelp for deciding to use 1/1, LZ for getting breached and not enforcing >1/1, and aave for accepting such large collateral caps when comparatively other alternatives were safer in their assessments Bottom is in(olimpio)
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