Reserve: Temporarily suspended minting and rebalancing of eUSD and USD3, redemption functions remain open
According to BlockBeats, on April 20, Reserve, a stablecoin platform on Ethereum, announced that it is closely monitoring the Kelp DAO LayerZero bridge attack incident. At present, Reserve DTF holders are considered to be almost unaffected. If rsETH on the mainnet undergoes a significant devaluation (potentially requiring a 15.5-18.5% write-down), Aave may incur bad debt, which could in turn impact Aave V3's USDC collateral.
RSR stakers in Reserve Protocol's USD3 and eUSD may serve as "first loss capital" for protection. However, the impact is minimal, and the excess RSR collateral is sufficient to cover it.
ETH+ and bsdETH contain no rsETH collateral at all, resulting in zero risk. As a precaution, Reserve has temporarily suspended minting, rebalancing, and RSR un-staking for eUSD and USD3. Redemption functions remain fully open, and users who require RSR over-collateralization protection are advised to continue holding.
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.
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