Yearn Vaults and Yearn-curated markets currently have no exposure to the rsETH hack that occurred earlier today.
Yearn vaults that previously had exposure to Aave WETH markets have been fully unwound.
We continue monitoring things and will provide future updates here.
what is eth_getProof? what is helios? what is checking l2 has actually landed a receipt in l1 blob? cryptography is for nerds anyway, we just check the block number.
So let me start. DeFi is the future of the World Financial System. That's my belief, and this is why we are here.
This amount of absolutely preventable hacks we see in DeFi (with root causes attributable to CENTRALIZED points of failure) is enormous recently. This damages out
huge day for victims of the kelp dao hack, i hope that we can look back on today as the day our industry realized that we can simultaneously build useful products while also protecting users rather than be a consequence-free infinite money glitch for hackers
I see ppl calling for the death of defi
They're wrong
DeFi is gonna take a hit but it will not die, current situation is completely recoverable with protocol treasuries and loans
I believe in DeFi and I'm gonna keep working to make it succeed🦙
being the devil's advocate for lazarus is the most retarded hill to die on. go to reddit with such takes, guys. decisive action should be celebrated not midcurved.
Carni took an opportune screenshot that is not entirely repersentative but..... It does reflect something important about Yearn risk management
WETH-1 has purchased 1k stETH in the past few days at an average of about 50bps discount and is currently pending in the redemtion
**monitoring the situation**
just published aave.wavey.info to track latest on aave v3 core:
- liquidity
- at-risk positions
- tvl and debt
- protocol fees