DeFi's lending landscape is being reshuffled in real time as capital flees Aave in the wake of the Kelp bridge exploit, and a notable chunk of appears to be landing on SparkLend.
Spark's stablecoin lending protocol SparkLend has seen over $1.4 billion in deposits flow into it in the past few days since the $290 million Kelp bridge exploit on Saturday, April 18, which has continued to rock DeFi since.
Total value locked on SparkLend surged from around $1.89 billion to $3.3 billion as of today, April 22, per DefiLlama data.
To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
