due to Aave’s ETH utilization rate reaching 100%, Fluid launched an aWETH redemption protocol.
According to Castle Labs, due to Aave’s ETH utilization rate reaching 100%, Fluid launched an aWETH redemption protocol. In just two days, this protocol has already helped users redeem 166,772 aETH, worth ~$400m.
Fluid’s redemption protocol benefits significantly from its Lite Vault, which holds wstETH and weETH as collateral for ETH debt on Aave. These assets effectively offset users’ ETH collateral positions. — link