Back

DeFi Total Value Locked Drops $10.59 Billion After rsETH Exploit

The market update says decentralized finance activity fell 10.64% across all chains in 24 hours after KelpDAO’s liquid staking token (tokenized staked asset) rsETH was exploited, with effects reaching Aave.

Summary

No Summary provided as the original text is short

Terms & Concepts
  • DeFi: Decentralized finance, a blockchain-based financial system that offers services such as lending and trading without traditional intermediaries.
  • TVL: Total value locked, a metric that measures the value of assets deposited in decentralized finance protocols.
  • Liquid staking token: A tokenized claim on staked assets that lets users keep liquidity while earning staking-related rewards.