DeFi's stress test ends quietly. Nothing broke.
CoinDesk
Decentralized finance lending platform Aave has successfully normalized stablecoin borrowing rates following a liquidity squeeze caused by the KelpDAO hack.Summary
The decentralized lending platform Aave has recovered from a liquidity crisis triggered by the KelpDAO hack, which had previously caused stablecoin borrowing rates to surge to 14%. Governance interventions and over $160 million in relief funding successfully lowered borrowing costs to around 5% or less. Market analysts highlight that this recovery occurred independently of Bitcoin's price movements, demonstrating a level of resilience that is significant for institutional investors.
(Source：CoinDesk)