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 This may have been for hedging purposes, as over $5.4 billion in assets were urgently withdrawn from Aave.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.
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