Decentralized Finance (DeFi) can replicate most traditional financial activities. Among various DeFi, Lending Protocols (LPs) resemble banks, allowing users to borrow and lend cryptocurrencies. By analysing stablecoin loans in Aave protocol, we find a small group of users with dual roles, i.e., borrowers and depositors, and these users account for significant loans and deposits. Therefore, potential liquidity risks can occur if these users collectively withdraw deposits and initiate loans, and potential liquidity risks can affect both loan-specific factors and status of Aave protocol. Surprisingly, liquidity risks in Aave are related to other LPs, implying illiquidity is infectious in DeFi.
翻译：分散化金融(DeFi)可以复制最传统的金融活动。 在各种DeFi, 贷款协议(LPs)中,可以模仿银行,允许用户借出和借出密码。 通过分析Aave协议中的稳定币贷款,我们发现一小群用户,即借款人和存款人,他们扮演着双重角色,即借款人和存款人,而这些用户承担着重要的贷款和存款。 因此,如果这些用户集体提取存款和启动贷款,潜在的流动性风险可能发生,而潜在的流动性风险可能同时影响特定贷款因素和Aave协议的地位。 令人惊讶的是,Aave的流动性风险与其他LPs有关,这意味着流动性不足在DeFi中具有传染性。
相关内容
微信扫码咨询专知VIP会员