Disclosure: Delphi Ventures and members of our team hold RUNE. This statement is intended to disclose any conflict of interest and should not be misconstrued as a recommendation to purchase any token. This content is for informational purposes only, and you should not make decisions based solely on it. This is not investment advice.
- The recent exploit resulted from a bug on the Router which deals with deposits on external chains. The attacker was able to trick nodes into believing he deposited ETH whereas he didn’t. The network was quick to react and halt. Although core devs already fixed the bug, the Ethereum chain will remain halted until the community converges on a decision on how to address the situation both from a security and financial perspective. Funds in treasury (~60M USD) far exceed the insolvency (~7.5M USD) and will be deployed to compensate LPs for their losses.
- On Multi-Chain Chaos Net, THORChain LPs in aggregate have been enjoying an attractive APY despite price pullbacks, at times reaching up to 45%, largely owed to cap limits imposed on Pools causing Incentive Pendulum to rewards LPs in excess of normal market conditions. Another contributor to this was the additions to the Reserve balance. MCCN Reserve is being slowly and carefully added and has reached 30M Rune, in turn increasing Block Rewards for Bonders & LPs. As a result demand for LP far exceeded caps resulting in caps