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![Jrag0x Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::582916637.png) Jrag.eth [@Jrag0x](/creator/twitter/Jrag0x) on x 14.4K followers
Created: 2025-07-24 20:21:45 UTC

Oh yeah forgot about that.

But the steth depeg is not the cause, it's the consequence. Sun withdraws a lot of ETH from Aave, ETH utilization rate spikes, ETH borrow rate spikes, stETH looper are forced to unwind their position because of negative yield of their position, not because of liquidation risks.


XX engagements

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**Related Topics**
[chapter 11](/topic/chapter-11)
[steth](/topic/steth)
[ethereum](/topic/ethereum)
[coins layer 1](/topic/coins-layer-1)

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