Aave Restores V3 WETH Markets, Carl Beek Departs The Ethereum Foundation
Aave restores WETH markets, sGHO upgrades to ERC-4626, ETHGlobal opens a Continuity Track, and Carl Beek departs the Ethereum Foundation.
Gm frens, Happy Monday!
Quick Take
Aave restores WETH LTV parameters.
Aave upgrades sGHO to ERC-4626.
ETHGlobal debuts the Continuity Track.
Carl Beek and Julian Ma depart the EF.
Aave has fully restored the loan-to-value ratios across all V3 WETH market deployments affected by the rsETH exploit, including Ethereum Core, Ethereum Prime, Arbitrum, Base, Mantle, and Linea. Parameters are now set to their pre-incident values. KelpDAO is also consolidating its rsETH bridging support, dropping support for 20 chains effective June 15. The restorations bring a soft close to the DeFi United recovery initiative.
Aave upgraded its savings GHO product to a new ERC-4626-compliant vault. Yield now accrues directly in the share-to-asset conversion rate with no weekly Merkl claims, no lockup, and no rehypothecation. The upgrade also introduces GhoRouter, a stateless routing contract that enables USDC-to-sGHO conversions in a single transaction. Legacy stkGHO holders must migrate manually to continue earning rewards.
ETHGlobal announced the Continuity Track, a new hackathon format that lets builders hack with existing code. Teams can extend an open-source repo they already maintain or ship a new feature to a private product, releasing whatever they build over the weekend as open source. The 36-hour clock and team size of up to five remain unchanged. The track debuts at ETHGlobal New York from June 12-14.
Ethereum developer Carl Beek announced that May 29 will be his last day at the Ethereum Foundation. Beek joined the EF at 23 and contributed to the KZG ceremony and early Beacon Chain architecture. He co-authored EIP-7935 to raise the mainnet gas limit and authored Quick Slots EIP-8198 for reducing slot duration. Ethereum researcher Julian Ma also announced his departure.
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Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created
Aave Fully Restores WETH Markets
Aave restores LTV parameters across all V3 WETH deployments affected by the rsETH exploit, while KelpDAO consolidates bridging support and trims 20 chains.
Aave has fully restored the loan-to-value ratios across all V3 WETH market deployments affected by the rsETH exploit, including Ethereum Core, Ethereum Prime, Arbitrum, Base, Mantle, and Linea. Parameters are now set to their pre-incident values. KelpDAO is also consolidating its rsETH bridging support, dropping support for 20 chains effective June 15.
Holders on selected chains are urged to bridge back to Ethereum mainnet, with post-deadline recovery available for a 100 USDC fee. Compound, Euler, and Aave successfully liquidated the attacker's collateral positions. The restorations bring a soft close to the DeFi United recovery initiative.
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created
Aave Upgrades sGHO To ERC-4626
The upgrade introduces GhoRouter for single-transaction USDC-to-sGHO conversions. Legacy stkGHO holders must migrate mannually.
Aave upgraded its savings GHO product to a new ERC-4626-compliant vault. The savings yield now accrues directly in the share-to-asset conversion rate with no weekly Merkl claims, no lockup period, and no rehypothecation of deposited funds. sGHO is a yield-bearing token that accrues interest over time.
The upgrade also brings GhoRouter, a stateless routing contract that enables USDC-to-sGHO conversions in a single transaction. ERC-4626 allows DeFi protocols to build on top of any vault without needing custom integrations. Legacy stkGHO holders must migrate manually, as rewards on the old contract will be reduced over a seven-week transition schedule.
Disclaimer: Content is for informational and educational purposes only and does not constitute financial, investment, legal, or other professional advice. No representations or warranties are made as to accuracy, completeness, or timeliness. Use of this content is at your own risk, and you should consult a qualified professional before making decisions. No fiduciary or advisory relationship is created