X @Ansem

RT monetsupply.eth (@MonetSupply)with stablecoin markets beginning to become illiquid, the situation is now entering a more dangerous stage imoto break down the driving factors:the ETH market is ~16.5% backed by rsETH, and rsETH backed loans could see up to 10-15% haircut in emode if losses are socialized equally on mainnet & external chains, leaving 2-3% residual haircut for ETH suppliers after wiping out umbrellaETH suppliers are naturally incentivized to get out ASAP to avoid this, so utilization is pinn ...