Huge shoutout to
@Tydro.
wETH withdrawals are live. One of the first protocols to re-enable it. No bad debt. Larger lenders cooperating. Losses expected to be near zero.
While others are still writing post-mortems, Tydro is already back online.
This is how you build trust. Meow.
Tydro update: wETH unpaused
Withdraw, supply, repay, and borrow are re-enabled on Tydro's wETH market with LTV set to 0. Larger lenders have agreed to hold positions until DeFi United funds are transferred to rsETH backing, so no bad debt should be realized by users.
Once rsETH backing is complete, Tydro and Ink will clear any residual losses (expected to be minimal or zero). wETH borrowing LTV will be restored in the near future.
Ink Points on wETH will resume shortly, with extra allocations planned to offset delays and elevated borrow costs during the freeze (more details to come).
As always, thank you for your patience. Follow official channels for future updates.