DMH ๐ฆ๐๐
@DeFi_Made_Here
@0xfluid / @Instadapp | COO new tg: @iam_dmh The approach is not to limit the choice, but to provide a broader choice.
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Challenges happen in DeFi - what matters is how teams respond.
We've seen examples in the past when protocols fully recover after the major incidents, and I wish Resolv would be one of these examples.
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Users can now swap their ETH positions on Aave into wstETH or weETH
This will protect Aave, its users, and DeFi from the potentially much more severe damage.
TLDR how it works
Fluid is the biggest user on Aave where we hold $1.5B in ETH debt
We buy aWETH from users and sell them aWSTETH or aWEETH - users remain on Aave, but now they have an option to withdraw if they want, because wstETH and weETH markets are not frozen.
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