Analysis: The KelpDAO theft has far-reaching impacts, and lending platforms and L2 ecosystems will accelerate transformation.

ME News message, April 19 (UTC+8). Regarding the rsETH theft incident involving KelpDAO, crypto KOL benmo.eth analyzed that the event has far-reaching implications, mainly reflected in the following six points:

1. The security of wrapped assets such as LRT cannot be compared with native assets, and lending platforms cannot equally collateralize by mixing these two assets.
2. L0 will lose part of its cross-chain market in the future. Assets including USDE and USD0 have already stopped cross-chain operations on L0; perhaps even if the business resumes, it will be difficult to restore its previous reputation.
3. AAVE’s “golden body” has been broken. The security of a unified lending market has once again entered the whale scrutiny phase. Each additional collateral asset equally increases the risk of the original collateral assets. This is inherently unfair to native assets. V4 and modularization are trends in the development of lending products, and this transition process will likely accelerate. Choosing the lending business instead of the lending platform or curator, but the cost of this business is increasing.
4. The cost of obtaining TVL on L2 will further increase. The current TVL level will further flow back to L1.
5. DeFi stops expanding along its roadmap and returns to a conservative security model, and it is also necessary to further prevent scanning by Anthropic Mythos.
6. From a risk-control perspective, when large lending platforms face large-amount withdrawals, it is time to consider the feasibility of on-chain delayed withdrawals. (Source: PANews)