Spark Protocol Co-founder Sam MacPherson explains why his team offboarded rsETH as collateral in January  months before the $292M KelpDAO exploit drained Aave's lending markets. The takeaway: a minimalist collateral set, ruthless risk-return reviews, and a philosophy of shrinking the attack surface kept Spark depositors whole while the rest of DeFi absorbed the blow.

A masterclass in why disciplined governance beats yield chasing.