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I'm still wondering how come $KERNEL only dumped a mere 15% from this whole KelpDAO story.
In comparison, $DRIFT dumped 50% after their hack.
Even $AAVE, which wasn’t responsible for the KelpDAO hack, dumped 25% (which also makes sense since THEY took the bad debt).
So am I stupid, or this hack should have led to a much bigger dip for $KERNEL?
It's basically their main product being hacked, eroding trust in Kelp, rsETH, restaked tokens, and even DeFi as a whole.
That's a terrible look for KelpDAO, and all their other products (Gain, Kernel, Kred). Even if it wasn't directly their fault. (Looking at you LayerZero)
But why didn’t the market react more strongly for $KERNEL?
I have no interest in $KERNEL dumping, so I'm not complaining, just wondering if I'm missing something.