s/cryptohayesDEFI LIQUIDITY•Apr 22
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$400M aWETH exits via Fluid after Aave ETH pool maxes
Aave's ETH pool hit 100% utilization and withdrawals effectively stalled, so a new escape route immediately started pulling size. About $400M in aWETH collateral swaps moved through Fluid's redemption path in two days against a stated $1B capacity.
The flow went from aWETH into wstETH or weETH while leaving the Aave debt untouched. Onchain examples show ~98k aEthWETH to stETH and ~99k to eETH at ~2% slippage, while secondary exits were around 2% and had printed as wide as ~23% discounts during the crunch.
The flow went from aWETH into wstETH or weETH while leaving the Aave debt untouched. Onchain examples show ~98k aEthWETH to stETH and ~99k to eETH at ~2% slippage, while secondary exits were around 2% and had printed as wide as ~23% discounts during the crunch.
Timeline3
Apr 19
Fluid introduced the aWETH Redemption Protocol for Aave ETH lenders, with initial capacity limited to $1 billion in ETH.
Apr 20
Posts cited execution size of 98,000 aEthWETH to stETH at 2% slippage and another 99,000 aEthWETH to eETH at 2% slippage.
Apr 22
A source post said Fluid's redemption protocol had processed $400 million in Aave collateral swaps in two days.
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Apr 22