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How MakerDAO showed resilience in the wake of Curve Finance attack

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How MakerDAO showed resilience in the wake of CurveFinance attack

logging the highest TVL drop . This was due to the protocol’s significant exposure caused by Curve’s founder Michael Egorov’s loans on its platform.Primus inter pares?

According to DefILlama data, MakerDAO’s TVL grew by 1% in the last week. As liquidity providers rallied for safety by removing their funds from Curve and Aave, they sought solace in MakerDAO as the protocol recorded a huge surge in its wrapped staked Ether tokens deposits within the last seven days.

MakerDAO revealed that new deposits in its wsTETH-A and wsTETH-B vaults totaled $8.08 million and $21.86 million, respectively, 24 hours after Curve was hacked. This made wsTETH the primary collateral within the protocol’s crypto vaults. WSTETH has surpassed WETH as the leading crypto collateral in terms of USD value locked within the Maker Protocol.

 

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