Curve founder: KelpDAO attack triggers Aave bad debts, exposing non-isolated lending risks
BlockBeats News, on April 19, Curve founder Michael Egorov stated: "I hope Aave can resolve this issue. Kelp DAO suffered a loss of about $292 million due to an attack, which led to bad debt on Aave. This is precisely the risk brought by the commonly used 'non-isolated lending' model. This model has good scalability, but higher risk, so risk management is crucial (Aave has historically performed well in this aspect).
One approach is to use a fully isolated model like Curve Finance’s market, while another is to adopt a hybrid model (complex but feasible). However, the market has not yet fully understood the advantages of these schemes. The hub and spoke model of Aave v4 may be a step toward a semi-isolated and safer direction."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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