weeth

ether.fi posted on platform X that weETH based on the LayerZero cross-chain bridge has now been restored on all chains, and liquidity minting and redemption functions have been enabled.In terms of security, the ether team has increased the number of DVNs (Decentralized Verification Networks) from 2 to 4 and implemented stricter rate limiting mechanisms to further enhance system security. Additionally, related services will gradually resume under the guidance of security partners, and more updates will be released in the future.

MonetSupply, the strategy director at Spark, posted on platform X that Aave has decided to lift the freeze on the Ethereum Core WETH market. Under the current interest rate model, LST/LRT holders can execute high-leverage circular strategies using assets like weETH, taking advantage of the approximately 0.5% discount on the weETH market price and the Aave ETH borrowing rate cap of 5.15%, to achieve an annualized return potential of about 45%.Currently, the utilization rate of the aEthWETH market has reached 100%, making it more difficult for regular depositors and stablecoin borrowing users to exit or refinance from aWETH. MonetSupply pointed out that this decision provides arbitrage opportunities without addressing the liquidity tension of aEthWETH, weakening the liquidity and experience for regular users.

ether.fi posted on platform X that, guided by security partners, it will restore the LayerZero bridging functionality for weETH and eETH within the next 24 hours.ether.fi previously confirmed that its Liquid treasury was not directly exposed to the Kelp rsETH event risk, but decided to suspend the LayerZero cross-chain bridging functionality for weETH and eETH as a precautionary measure until the root cause of the Kelp rsETH event is clarified. Meanwhile, for Liquid (ETH, BTC, USD), sETHFI, and eBTC products, the relevant Teller contracts have been suspended to block the LayerZero OFT bridging path, and the deposit and withdrawal functions for the related assets have also been suspended. They are currently working closely with security partners.

The DeFi protocol Ether.fi stated on platform X that due to the root cause of the Kelp rsETH incident still being under investigation, it has proactively suspended the LayerZero cross-chain for weETH and eETH.At the same time, the Teller contracts for Liquid (ETH, BTC, USD), sETHFI, and eBTC have also been suspended to halt LayerZero OFT cross-chain, and the deposit and withdrawal functions for related products have been simultaneously suspended.Ether.fi stated that its Liquid Vaults are not directly exposed to Kelp rsETH and is closely coordinating with security partners, with more information to be announced later.

According to on-chain analyst Ai Yi (@ai_9684xtpa), the address 0xeAB...1a414 has sold a total of $5.9 million worth of crypto assets in the past 4 hours, including $2.63 million of WEETH and $3.266 million of WBTC.The WEETH portion has been held for over a year, with an acquisition price of $3022.31 and a selling price of $2082.62, resulting in a loss of approximately $1.188 million.

ChainCatcher message, Coinbase Institutional announced on platform X that aPriori (APR), BNB (BNB), and weETH (weETH) are now available for custody on Coinbase Prime.

ChainCatcher news, according to the Cork Protocol announcement, at 11:23 UTC today, a security incident occurred in the wstETH:weETH market on the platform. Currently, to prevent further risks, Cork has suspended all other market trading, and no other markets are affected at this time. The team is actively investigating the cause of the incident and will continue to provide updates on the progress.

ChainCatcher news, according to the monitoring by Shield, an address holding a leveraged long position of 1500 weETH (with a total debt of about 2.27 million DAI) has been liquidated.After the ETH price fell below 1800 USD, its 643.78 weETH (worth about 1.23 million USD) was seized.

ChainCatcher message, according to PeckShieldAlert monitoring, the address 0x678f...4954 was liquidated when the weETH price dropped to about $2,478, with a total of 1,850 weETH (approximately $4.54 million) being forcibly closed.

ChainCatcher message, Aevo stated on platform X that weETH is now accepted as collateral. weETH is the liquidity re-staking token (LRT) of ether.fi, where staked ETH is re-staked to generate additional yield.

ChainCatcher news indicates that a proposal published on the ether.fi governance forum shows that ether.fi plans to allocate up to 10 million ETHFI tokens to promote its staking product Wrapped eETH (weETH) as collateral for perpetual contracts on centralized exchanges (CEX). The proposal aims to incentivize CEX users through various promotional activities such as trading competitions, deposit contests, and reward giveaways, driving the growth and adoption of weETH.The proposal points out that the launch of weETH as collateral will expand its use cases in the DeFi and CEX markets, enhancing the liquidity and utility of weETH. Additionally, by establishing partnerships with major CEXs, ether.fi hopes to further strengthen the market positioning of weETH and provide opportunities for arbitrage and basis trading, increasing its liquidity.Furthermore, ether.fi plans to implement these incentives within the next 12 months and conduct promotional activities in collaboration with major CEXs. The voting on this proposal will last for 4 days until October 26.

ChainCatcher message, ether.fi posted on social media that they are conducting regular maintenance on OFT. The weETH bridging on Stargate will be unavailable for approximately 2 hours, and updates will be provided when the bridging is restored.

ChainCatcher message, ether.fi posted on platform X that the re-staking rewards will be launched on October 15. Stakers holding weETH or eETH can earn staking, re-staking, and Season 4 rewards (ether.fi points).Starting from October 15, eETH holders will receive the first batch of re-staking rewards in the form of LRT² tokens. The reward program will be distributed linearly every Thursday, and users holding weETH or eETH will automatically receive LRT².

ChainCatcher news, according to the Snapshot governance page, the Aave community has initiated a proposal to vote on "adding sUSDe, USDe, and weETH to Aave v3 on ZKsync." The voting will end on October 8.

ChainCatcher message, according to on-chain analyst @ai_9684xtpa's monitoring, the whale vladilena.eth (@0xVladilena) redeemed the weETH PT and YT maturing on December 26th 20 minutes ago, exchanging it for 5000 ETH and depositing it into Binance, worth 12.24 million USD, suspected to be sold.

ChainCatcher news, Phoenix Labs CEO and MakerDAO lending application SparkLend founder Sam MacPherson posted on X that the debt ceiling for the weETH isolation mode has been increased to 200 million USD.

ChainCatcher message, ether.fi announced on social media that it has launched the liquidity re-staking token (LRT) weETHk based on the Karak Network.Users can re-stake weETHk to earn Karak points, ether.fi points, and veda labs points.

ChainCatcher message, Phoenix Labs has initiated a new proposal to increase the weETH capacity on the MakerDAO governance forum, and on-chain voting has been opened on the Maker governance portal for a duration of 3 days.The proposal notes that there has been strong demand for weETH since mid-June, with deposits reaching millions of dollars in the first few weeks of integration with SparkLend. Due to this demand, Phoenix Labs has proposed changes to the weETH collateral parameters on the Ethereum mainnet to enhance user experience and increase the capacity for large-scale borrowing of DAI. The proposed changes are as follows:weETH supply cap: increased from 50,000 weETH to 200,000 weETH;weETH isolated mode debt ceiling: increased from 50 million DAI to 200 million DAI.

ChainCatcher message shows that the TVL of the weETH pool on Uniswap has reached $140 million, with a 24-hour trading volume of $48 million, a liquidity utilization rate of 35%, and an annual interest rate of 6.3% from fees.In addition, the weETH pool on Curve has reached $3.8 million, with a 24-hour trading volume of $64 million, a liquidity utilization rate of 1,685%, and an annual yield of 40% from fees.

ChainCatcher message, the decentralized lending market Spark stated on social media that less than a week after the launch of weETH on SparkLend, users have deposited approximately 26 million dollars worth of weETH.