Maker

Curve DAO Token

<ul><li>Aave&#39;s TVL drops 20% due to exposure to Curve&#39;s hack.</li><li>MakerDAO&#39;s TVL rises by 2%, aided by the wsETH deposit increase.</li><li>Despite repayments, Egorov&#39;s Aave debt stands at $29 million.</li></ul>In the rapidly evolving world of decentralized finance (DeFi), liquidity and trust are paramount. Recently, this dynamic was evident when MakerDAO took over Aave&#39;s position, <a href="https://defillama.com/" rel="noopener noreferrer nofollow">becoming</a> the second-largest DeFi protocol by total value locked (TVL). This seismic shift resulted from an unfortunate event that befell Curve Finance and the consequential decisions of market participants in the aftermath.Previously, Aave briefly held the second spot, buoyed by the downfall of Silicon Valley Bank (SVB). However, an <a href="https://twitter.com/CurveFinance/status/1685693202722848768?s&#61;20" rel="noopener noreferrer nofollow">exploit </a>at the DeFi protocol Curve Finance swiftly overshadowed this achievement, causing Aave&#39;s TVL to plummet by nearly 20% within a week. In contrast, MakerDAO&#39;s TVL experienced a nearly 2% rise. This boost is largely linked to the surge in deposits of MakerDAO’s wrapped staked Ether tokens (<a href="https://twitter.com/MakerDAO/status/1686510876936060933?ref_src&#61;twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1686510876936060933%7Ctwgr%5E71bffc6188cf0e1889a630db9afba25d98a91756%7Ctwcon%5Es1_&amp;ref_url&#61;https%3A%2F%2Fambcrypto.com%2Faave-loses-second-place-to-makerdao-in-defi-tvl-race%2F" rel="noopener noreferrer nofollow">wsETH</a>) in the wake of Curve&#39;s breach.Analyzing the causes of Aave&#39;s setback, it is clear that the platform&#39;s close association with Curve played a crucial role. Before the exploit, Michael Egorov, the mastermind behind Curve, had utilized a significant portion of his CRV tokens as collateral. Among the various DeFi lending protocols he borrowed from, Aave was at the forefront, extending a loan of over $100 million.Read full article at <a href="https://cryptotale.org/makerdao-surpasses-aave-following-tvl-shift-post-curve-exploit/" rel="noopener noreferrer nofollow">CryptoTale.</a>

MakerDAO Surpasses Aave Following TVL Shift Post Curve Exploit

CryptoTale

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