Reddit Posts
Mentions
tldr; Ethereum liquid restaking protocols experienced a significant increase in total value locked (TVL) in 2024, rising from $284 million to $17.26 billion. This surge is attributed to the growing demand for staked asset utility and the introduction of liquid restaking tokens (LRTs), which enhance the utility of staked assets by allowing them to be used in securing additional networks. Despite their benefits, LRTs carry risks such as price volatility and potential compounded losses. Ether.fi dominates the LRT market with over 50% of the TVL. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; The DeFi protocol Penpie was hacked for $27.8M due to a security vulnerability, primarily affecting liquid-restaking-token (LRT) assets. The hacker transferred a total of 11,109 ETH and laundered part of the funds through Tornado Cash. The stolen assets included 4,101 agETH, 2,723 wstETH, 2,695 rswETH, and 2.52M sUSDe. The hacker currently holds 10,114 ETH and $844K worth of Pendle Finance's yield-tokens across two addresses. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
If you don't borrow anything with LRTs as collateral, the depeg events are not a problem. If you have to withdraw it will take weeks, that's to be known but not a real problem. The main issues are : -smartcontracts risks -Bad behavior of the validators used by LRTs which implies slashing -Centralisation of LRTs operatos. Except Etherfi, which one allows solo stacking? In a few weeks I'll have more or less this repartion : 10% or 15% LRT (Etherfi I think) 50% or 45% (a mix of rETH and wstETH) 40% ETH