原推：Fascinating.
Though I suspect this dynamic will only serve to drive ETHPoW to 0 more quickly.
Put simply defi lending amplifies the ability of the dominant stablecoin to dictate the valid fork https://t.co/r8TCwpd6S4
As the merge approaches, ETHPoW creates a novel risk for lending protocols: 100% utilisation of ETH pools.
At 100%, lenders can’t withdraw. Effectively a bank run.
Here’s an explainer of how and why this may occur ? 1/9