Kelp: The agETH vault will reopen after the rsETH exchange rate is updated and the protocol returns to normal.

CoinFeed reported on May 21 that Kelp announced on its X platform that the agETH vault will reopen after the rsETH exchange rate is updated and the protocol returns to normal. During the suspension, the agETH strategy was affected by the increased borrowing rate of the underlying revolving position. The agETH to rsETH exchange rate has been updated from 1 agETH to 1.0011445858154815 rsETH to 1 agETH to 0.996464817 rsETH, a total impact of approximately 75 ETH. The exchange rate decline was mainly due to the negative interest rate spread caused by the borrowing cost of the rsETH revolving strategy. The agETH vault is expected to reopen around 18:00 Beijing time on Thursday, and users can deposit and withdraw again. Since most of the liquidity is deployed in the rsETH revolving strategy, redemptions may still take approximately 15 to 18 days.