Aave Platform USDT Borrow APY Skyrockets to 14.99%
BlockBeats News, April 19th, according to data from the Aave platform, the USDT borrowing APY surged to 14.99%, and the deposit APY surged to 13.39%.
The KelpDAO hacker borrowed a large amount of ETH from Aave by collateralizing illegally minted rsETH. This may have been for hedging purposes, as over $5.4 billion in assets were urgently withdrawn from Aave. The massive fund outflow may have led to a sharp increase in Aave's USDT deposit and borrowing APY.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Vertiv to Acquire King Environmental Services
Top Premarket Gainers
AOI white paper maps paths to 3.0GHz HFC network expansion
Foraco launches share buyback program for up to 1,000,000 shares
Crypto prices
More
