🚀 Fun watching ETH borrow rates skyrocket pre-Merge!
📈 Since pausing ETH borrowing on @aaveaave.lens it looks like some major borrowing demand found its way to Euler Finance: app.euler.finance/market/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2
🌽 Current Supply APY = 29.9% + 7.21% APY in EUL
💡 It looks like the more accurate assessment here is ETH supplied is dropping pre-Merge, driving up utilization, and hence increasing ETH borrowing rates.
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