over $10B TVL was withdrawn from defi in a single day with kelpdao incident


@sparkdotfi gained 10% TVL the same day
-> now I see exactly where the money went.
why spark?
> it’s built with serious institutional-grade safety which is now proving highly effective in this crisis.
> they dropped rsETH back in january and have been tightening risk params ever since.
> sparkLend has deep ETH liquidity, and its e-mode only supports wstETH, rETH, and ETH - designed to handle crazy risks like this.
no surprise ETH utilization on Spark crashed from 90% to 76%. that’s a clear sign a ton of ETH rotated straight from aave into spark.
if you’ve got idle ETH, $spark is looking like a really solid spot rn.
ETH-1.05%
SPK6.05%
AAVE-2.75%
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ybaser
· 2h ago
To The Moon 🌕
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