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Project Overview
At the base of Fluid lies the Liquidity Layer, which serves as the foundation upon which other protocols can be built. This layer serves as a central hub where liquidity from all protocols is consolidated. It facilitates automated limits for protocols, manages utilization rates, and can deploy various rate models. The Liquidity Layer allows protocols to deposit, withdraw, borrow, and payback. End-users interact with the protocols, which in turn interact with the Liquidity layer.
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Jupiter Partners with Bitwise to Launch Institutional-Grade USDe Lending Market on Solana
Odaily Solana infrastructure project Jupiter has announced a partnership with Bitwise to launch a dedicated USDe lending market on Jupiter Lend. This marks the first time an institutional asset management firm has participated in curating a lending market on Jupiter Lend.The market will be isolated from Jupiter Lend's existing liquidity pools to reduce the risk exposure of potential institutional capital, and will integrate the decentralized protocol Fluid to provide lending and collateral infrastructure support.This collaboration will offer users a new avenue to generate yields on USDe within the Solana ecosystem.
Fluid: The $19.3 Million Bad Debt from the Resolv Incident Will Be Shared by Resolv, the Fluid Treasury, and Others
Fluid posted on platform X, stating that damage to Resolv's infrastructure has resulted in approximately $21 million in bad debt for the protocol. A solution has now been formulated to address the remaining $19.3 million in bad debt: Resolv will cover approximately $9.7 million, the Fluid governance treasury will cover $8.2 million, and the Fluid team will cover $1.5 million. Fluid has already destroyed all remaining USR tokens within the protocol at the contract level, and users can directly redeem them through Resolv.To ensure long-term sustainability, Fluid will suspend token buybacks, significantly reduce or eliminate FLUID token incentives, and the foundation will stop receiving its monthly $250,000 grant from March to June. Additionally, its Solana DEX is expected to launch within 6 weeks.
Kelp DAO Cross-Chain Bridge Attacked, ~$292M rsETH Stolen
According to CoinDesk, Kelp DAO’s LayerZero-based cross-chain bridge was attacked, with the attacker withdrawing 116,500 rsETH—worth approximately $292 million at current prices, or roughly 18% of its circulating supply. This incident has become the largest DeFi attack of 2026 to date. In response, Aave, SparkLend, and Fluid have frozen rsETH-related markets, and Lido Finance has suspended new deposits into its earnETH product. Kelp DAO stated it is jointly investigating the incident with LayerZero, auditing firms, and external security experts.