POPA ReconπEthena's TVL is falling. DeFi market confidence due to KELP DAO hacking seems to be the reason.
πEthena's TVL is falling. DeFi market confidence due to KELP DAO hacking seems to be the reason. Etherna's USDe TVL went to a peak of about 15B, and now it's down around 4B. Let's take a couple of points on the cause. [The key point is that the USDe interest rate fell] It's simple for people to come to Etherna to make a deposit. They're coming to farm interest, but they're leaving because the interest gets lower. So why did Etherna's interest get lower? βοΈ μμΈ 1. On the other hand, funding, which used to be this resource, is no longer profitable. 2. Since funding P is often negative, itβ¦
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