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ether.fi: Currently there are 124,000 ETH available for withdrawal, and 46,000 ETH available on the secondary market

ether.fi: Currently there are 124,000 ETH available for withdrawal, and 46,000 ETH available on the secondary market

CointimeCointime2024/08/06 02:48
By:Cointime

ether.fi announced in a post on X that during the recent market volatility, the team has been coordinating with Chaos Labs and other major protocol partners to monitor the weETH/eETH market status and has designed multiple native systems and processes for such events:

1. The primary market continues to operate normally, limiting the extent of its price decline, and ether.fi's withdrawal function helps the price continue to return to a fair exchange rate.

2. Today saw the highest number of withdrawal requests. The protocol continues to operate as usual, providing sufficient liquidity reserves for these withdrawals.

3. There are 73,000 ETH in the main liquidity reserves, 27,000 ETH in the exiting validators (available in the next few days), and 59,000 ETH in the development contract for immediate conversion. Overall, there are currently 124,000 ETH available for withdrawal, as well as 46,000 ETH (DEX liquidity) available on the secondary market.

4. Regarding critical protocol integration, multiple protocols have already used exchangeratefeed in their oracle design. This means that price fluctuations like those of the past few days will not cause large-scale liquidation and further forced selling.

5. The daily fund inflow exceeded 12,000 ETH, and the utilization rate of weETH in DeFi protocols remained above 73%.

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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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