Aave, Kelp DAO sald\u0131r\u0131s\u0131n\u0131n bir k\u00f6pr\u00fc a\u00e7\u0131\u011f\u0131n\u0131 daha geni\u015f bir DeFi likidite krizine d\u00f6n\u00fc\u015ft\u00fcrmesinin ard\u0131ndan fiyat\u0131nda sert bir d\u00fc\u015f\u00fc\u015f ya\u015fad\u0131. Sald\u0131r\u0131, Kelp DAO\u2019nun LayerZero k\u00f6pr\u00fcs\u00fcnden yakla\u015f\u0131k 116.500 rsETH (yakla\u015f\u0131k 292\u202fmilyon dolar de\u011ferinde) drene edilmesiyle ba\u015flad\u0131. Bu tokenlar daha sonra Aave V3\u2019te teminat olarak kullan\u0131larak b\u00fcy\u00fck miktarlarda WETH bor\u00e7 al\u0131nd\u0131. Bu hareket, rsETH\u2019nin art\u0131k normal teminat olarak kabul edilememesi nedeniyle Aave\u2019i k\u00f6t\u00fc bor\u00e7lara maruz b\u0131rakt\u0131.<\/p>\n\n
Temel nokta basit: Aave, ak\u0131ll\u0131 s\u00f6zle\u015fme seviyesinde hacklenmedi, ancak sald\u0131rgan zarar g\u00f6rm\u00fc\u015f teminat\u0131 bor\u00e7 verme sistemine soktu\u011fu i\u00e7in b\u00fcy\u00fck bir darbe ald\u0131. DeFi\u2019de bu, bir krizi tetiklemek i\u00e7in yeterli olabilir. Kullan\u0131c\u0131lar, olu\u015fan bo\u015flu\u011fun b\u00fcy\u00fckl\u00fc\u011f\u00fcn\u00fc g\u00f6rd\u00fcklerinde protokolden fon \u00e7ekmeye ba\u015flad\u0131. Bu bask\u0131, hafta sonu Aave fiyat\u0131n\u0131n bu kadar keskin d\u00fc\u015fmesinin ana nedenlerinden biri olarak g\u00f6r\u00fcn\u00fcyor.<\/p>\n\n
Panik yaln\u0131zca token satan t\u00fcccanlarla s\u0131n\u0131rl\u0131 kalmad\u0131. Aave\u2019in temel pazarlar\u0131ndan varl\u0131klar\u0131n\u0131 \u00e7ekmeye \u00e7al\u0131\u015fan mevduat sahiplerine de yay\u0131ld\u0131. Raporlar ve y\u00f6neti\u015fim g\u00f6nderileri, birka\u00e7 b\u00fcy\u00fck havuzun %100 kullan\u0131m oran\u0131na ula\u015ft\u0131\u011f\u0131n\u0131 g\u00f6sterdi; bu, mevcut t\u00fcm likiditenin \u00f6d\u00fcn\u00e7 al\u0131nd\u0131\u011f\u0131 anlam\u0131na geliyor. B\u00f6yle bir durumda, likidite geri gelene kadar kullan\u0131c\u0131lar normal \u00e7ekim yapamaz. Bu durum, k\u00f6t\u00fc bor\u00e7 problemine likidite problemi ekledi.<\/p>\n\n
\u0130\u015fte hik\u00e2ye burada \u00e7ok daha k\u00f6t\u00fc bir h\u00e2l ald\u0131. B\u00fcy\u00fck oyuncular\u0131n erken \u00e7ekimleri en kolay \u00e7\u0131k\u0131\u015f yollar\u0131n\u0131 \u00f6nce t\u00fcketti. Bundan sonra geride kalan kullan\u0131c\u0131lar, az ya da hi\u00e7 likidite bulunmayan kalabal\u0131k piyasalarda s\u0131k\u0131\u015f\u0131p kald\u0131. Bu durum sadece ETH piyasalar\u0131n\u0131 de\u011fil, USDT ve USDC gibi b\u00fcy\u00fck stablecoin havuzlar\u0131n\u0131 da etkiledi. Pratikte, baz\u0131 kullan\u0131c\u0131lar h\u00e2l\u00e2 Aave\u2019de bakiyelerini g\u00f6rebilir, ancak paray\u0131 \u00e7ekmek \u00e7ok daha zor hale geldi.<\/p>\n\n
Bu, ikinci bir risk katman\u0131 yaratt\u0131. Temel havuzlar tamamen kullan\u0131lm\u0131\u015f durumdaysa, h\u0131zl\u0131 bir piyasa hareketi s\u0131ras\u0131nda likidasyonlar\u0131n i\u015flenmesi zorla\u015fabilir. Bir bor\u00e7 verme protokol\u00fcnde likidasyonlar, k\u00f6t\u00fc borcun b\u00fcy\u00fcmesini \u00f6nlemek i\u00e7in tasarlanm\u0131\u015ft\u0131r. Ancak do\u011fru piyasada yeterli kullan\u0131labilir likidite yoksa, bu g\u00fcvenlik valfi zay\u0131flamaya ba\u015flar. D\u00fcz bir piyasada sorun bir s\u00fcre gizli kalabilir; keskin bir sat\u0131\u015fta ise \u00e7ok h\u0131zl\u0131 bir \u015fekilde ciddi bir soruna d\u00f6n\u00fc\u015febilir.<\/p>\n\n
Baz\u0131 ETH mevduat\u00e7\u0131lar\u0131 h\u00e2l\u00e2 dar bir \u00e7\u0131k\u0131\u015f yoluna sahipti. aETH gibi faiz getiren aToken\u2019lar\u0131n\u0131, dezavantajl\u0131 bir fiyatla merkeziyetsiz borsalarda satabiliyorlard\u0131. Bu, temiz bir \u00e7ekim de\u011fildir; erken \u00e7\u0131kmak i\u00e7in bir \u00fccret \u00f6demek gibidir. Stablecoin kullan\u0131c\u0131lar\u0131n\u0131n ise daha az se\u00e7ene\u011fi vard\u0131. Baz\u0131lar\u0131 kilitli USDT veya USDC pozisyonlar\u0131na kar\u015f\u0131 bor\u00e7 al\u0131p di\u011fer varl\u0131klar \u00fczerinden \u00e7\u0131kmaya \u00e7al\u0131\u015ft\u0131, genellikle b\u00fcy\u00fck kay\u0131plar ya\u015fad\u0131lar. Bu davran\u0131\u015f, likidite s\u0131k\u0131\u015fmas\u0131n\u0131n bir bor\u00e7 verme sisteminde ne kadar h\u0131zl\u0131 yay\u0131labilece\u011fini g\u00f6steriyor.<\/p>\n\n
Aave ayn\u0131 zamanda bir g\u00fcven sorunu da ya\u015fad\u0131. rsETH\u2019ye do\u011frudan maruz kalmayan kullan\u0131c\u0131lar bile protokol\u00fcn zarar\u0131 absorbe edip edemeyece\u011fini d\u00fc\u015f\u00fcnmek zorunda kald\u0131. K\u00f6t\u00fc bor\u00e7 tahminleri raporlara g\u00f6re de\u011fi\u015fiklik g\u00f6steriyordu; \u00e7o\u011fu 190\u202fmilyon dolar\u0131n \u00fczerine, baz\u0131lar\u0131 ise kay\u0131plar\u0131n \u00f6l\u00e7\u00fcm \u015fekline ba\u011fl\u0131 olarak daha da y\u00fcksek rakamlar veriyordu. Bu belirsizlik, daha fazla kullan\u0131c\u0131y\u0131 \u00f6nce \u00e7\u0131kmaya, sonra soru sormaya iterek, fonlar\u0131n \u00e7\u0131kmas\u0131yla birlikte daha fazla pazar\u0131n tam kullan\u0131m oran\u0131na yakla\u015fmas\u0131na ve krizin derinle\u015fmesine yol a\u00e7t\u0131.<\/p>\n\n
Hasar Aave\u2019i de a\u015ft\u0131. Compound, Kelp DAO sald\u0131r\u0131s\u0131na yan\u0131t olarak birka\u00e7 piyasay\u0131 duraklatt\u0131; di\u011fer DeFi uygulamalar\u0131 da kendi maruziyetlerini g\u00f6zden ge\u00e7irdi. Bu \u00f6nemli, \u00e7\u00fcnk\u00fc bir\u00e7ok protokol Aave\u2019i bor\u00e7 verme, getiri \u00fcr\u00fcnleri ve hazine y\u00f6netimi i\u00e7in temel katman olarak kullan\u0131yor. Likidite Aave\u2019de s\u0131k\u0131\u015f\u0131p kal\u0131rsa, sorun sadece Aave\u2019de kalmaz; arka planda ona ba\u011fl\u0131 di\u011fer uygulama ve kullan\u0131c\u0131lar\u0131 da etkiler.<\/p>\n\n
Aave, yeni riskin olu\u015fmas\u0131n\u0131 \u00f6nlemek i\u00e7in rsETH ve wrapped rsETH piyasalar\u0131n\u0131 dondurarak bir \u00f6nlem ald\u0131. Bu bir s\u0131n\u0131rlama ad\u0131m\u0131, tam bir \u00e7\u00f6z\u00fcm de\u011fil. Daha b\u00fcy\u00fck soru, zarar\u0131n kim taraf\u0131ndan kar\u015f\u0131lanaca\u011f\u0131 ve g\u00fcvenin nas\u0131l geri kazan\u0131laca\u011f\u0131d\u0131r. Kelp DAO, Aave y\u00f6neti\u015fimi, hizmet sa\u011flay\u0131c\u0131lar\u0131 ve kullan\u0131c\u0131lar art\u0131k bu tart\u0131\u015fman\u0131n i\u00e7inde. \u015eu an Aave fiyat\u0131, sadece piyasa korkusundan daha fazlas\u0131n\u0131 yans\u0131t\u0131yor; ayn\u0131 zamanda DeFi\u2019nin \u00fczerine as\u0131l\u0131 b\u00fcy\u00fck bir soruyu\u2014tek bir bozulmu\u015f varl\u0131k t\u00fcm sistemin boru hatlar\u0131n\u0131 nas\u0131l t\u0131kayabilir?\u2014yans\u0131t\u0131yor.<\/p>","protected":false},"excerpt":{"rendered":"
Aave, Kelp DAO sald\u0131r\u0131s\u0131n\u0131n bir k\u00f6pr\u00fc a\u00e7\u0131\u011f\u0131n\u0131 daha geni\u015f bir DeFi likidite krizine d\u00f6n\u00fc\u015ft\u00fcrmesinin ard\u0131ndan fiyat\u0131nda sert bir d\u00fc\u015f\u00fc\u015f ya\u015fad\u0131. Sald\u0131r\u0131, Kelp DAO\u2019nun LayerZero k\u00f6pr\u00fcs\u00fcnden yakla\u015f\u0131k 116.500 rsETH (yakla\u015f\u0131k 292\u202fmilyon…<\/p>\n","protected":false},"author":1,"featured_media":2510,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-2509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum"],"_links":{"self":[{"href":"https:\/\/bitcoinnewscrypto.com\/tr\/wp-json\/wp\/v2\/posts\/2509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinnewscrypto.com\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinnewscrypto.com\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinnewscrypto.com\/tr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinnewscrypto.com\/tr\/wp-json\/wp\/v2\/comments?post=2509"}],"version-history":[{"count":1,"href":"https:\/\/bitcoinnewscrypto.com\/tr\/wp-json\/wp\/v2\/posts\/2509\/revisions"}],"predecessor-version":[{"id":2511,"href":"https:\/\/bitcoinnewscrypto.com\/tr\/wp-json\/wp\/v2\/posts\/2509\/revisions\/2511"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinnewscrypto.com\/tr\/wp-json\/wp\/v2\/media\/2510"}],"wp:attachment":[{"href":"https:\/\/bitcoinnewscrypto.com\/tr\/wp-json\/wp\/v2\/media?parent=2509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinnewscrypto.com\/tr\/wp-json\/wp\/v2\/categories?post=2509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinnewscrypto.com\/tr\/wp-json\/wp\/v2\/tags?post=2509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}