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

ME News, April 19 (UTC+8): regarding the rsETH theft incident involving KelpDAO, crypto KOL benmo.eth analyzed that the event will have far-reaching effects, mainly reflected in the following six points: 1. The security of wrapped assets such as LRT cannot be compared with native assets. Lending platforms cannot equally treat these two types of assets for collateralization, nor can they equally mix the two for collateral and mixing. 2. L0 will lose part of the cross-chain market later on. Multiple assets, including USDE and USD0, have already stopped L0’s cross-chain. Even if the business resumes, it will be difficult to restore the original reputation. 3. AAVE’s “golden body” has been broken. The safety of the unified lending market is once again entering the stage of being examined by whales. With each additional collateral asset, the risk of the original collateral asset increases equally. 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 lending business rather than lending platforms or curators—however, the cost of this business is increasing. 4. The cost to obtain TVL on L2 will further rise; the TVL level will further flow back to L1. 5. DeFi has stopped its expansion route and returned to a more conservative and secure model, and it is also necessary to further prevent Anthropic Mythos from scanning. 6. From the perspective of risk control, when large lending platforms face large withdrawals, it’s time to consider the feasibility of delaying withdrawals on-chain. (Source: PANews)