#jointescapehatchforaaveethlenders $AAVE lenders just got an escape hatch – $136M out so far
Remember the KelpDAO hack that froze Aave's WETH pool? DeFi just built an exit in 24 hours.
What happened:
Aave lenders swapped 58,510 aWETH (that's about $136M) for wstETH or weETH in a single transaction. Discount was only 2.2% – way better than the 23% hit on secondary markets.
Who built it?
Fluid, Lido, Ether.fi, 1inch, 0x, and Kyber teamed up. No governance votes. No treasury spend. Just code.
Why this matters:
The same "composability" that broke DeFi (Kelp exploit cascading to Aave) also fixed it. That's the magic and the curse.
The catch:
This doesn't fix Aave's bad debt – that's still $123M to $230M. It just gives individual lenders a way out.
My take:
DeFi can be fragile. But a 24-hour recovery tool moving $136M? That's actually impressive.
Were you stuck in Aave? Did you use the escape hatch? 👇
Educational only. Not financial advice.