Star Project Weekly | EigenLayer released the first phase of testnet; Gem was renamed OpenSea Pro (4.3-4.9)
During the week from April 3rd to April 9th, the developments worthy of attention are as follows:EigenLayer Releases Phase 1 Testnet for Stakers；OpenSea Pro Airdrops "Gemesis" NFT to Gem Users；Avalanche Introduces Evergreen Subnets；The Arbitrum Foundation has submitted two new proposals to expand budget oversight and governance powers for ARB token holders；LayerZero Closes $120M Series B Funding At $3B Valuation；Lido predicts withdrawal speed after Shanghai upgrade: requests less than 1000 ETH can be completed within 1 day；Gitcoin will open a new round of donations from April 25th to May 9th；MakerDAO Protocol Engineering core department to shut down at the end of April；Otherside Now Launches Koda NFT Split and Vessel NFT Claim。
Bottom-Layer 1
Bottom-Layer 1
BNB Chain will undergo a Planck hard fork on April 12 to enhance cross-chain security
Odaily News BNB Chain will carry out a hard fork upgrade called Planck at block height 27,281,024, which is currently scheduled for April 12. The core team said the upgrade will enhance the security and stability of the network.
The Planck hard fork aims to implement the security enhancements proposed in BEP-171, strengthening the cross-chain bridge between the two blockchains that make up the BNB Chain network (i.e., the Beacon Chain and the Smart Chain). With the upgrade, BNB Chain hopes to improve the security, efficiency and interoperability of its blockchain network.
The Planck upgrade will involve migrating from the vulnerable IAVL proof verification to a more secure bridge security mechanism known as the ICS 23 specification. In addition, this upgrade will also introduce a timer lock mechanism for large cross-chain fund transfers, as well as automatic suspension of cross-chain channels when emergency situations such as forged certificates or hacking attacks are detected. These measures are designed to better protect user funds from potential attacks.
To ensure a smooth transition to the Planck upgrade, the BNB Chain core team calls on all stakeholders to prepare accordingly. Mainnet validators and full node operators need to update to the latest version v1.1.21 to enable the hard fork. (The Block)
Avalanche launches 'Evergreen' subnet to connect institutions on the blockchain
Odaily News Avalanche developer Ava Labs is introducing new institutional deployments to improve the blockchain environment. Ava Labs today launched the Avalanche Evergreen subnet, a suite of institutional blockchain tools and custom tools designed to meet the specific requirements of companies for financial services. Intercompany communication on the Evergreen subnet is enabled using Avalanche's native communication protocol, Avalanche Warp Messaging (AWM). The AWM feature provides local communication between any two blockchains on different Avalanche subnets.
Sui Foundation Announces Launch of Sui Ambassador Program
Odaily News Sui Foundation announced the launch of the Sui Ambassador Program (Sui Ambassador Program). This program provides outstanding community members with access to foundation support and resources to assist them in promoting Sui. Sui Ambassadors will be the public-facing representatives of the Sui community, contributing by writing articles, guides, and blog posts, hosting Sui community events and meetups, giving speeches, creating videos, helping with community management, and more.
Additionally, the Sui Foundation announced its first ambassador is Brendan (@mosaicRegressor).
Mina released a new roadmap covering five stages including trust minimization and ZK programmability
Odaily News The lightweight blockchain Mina released the Mina Public Roadmap. The roadmap is divided into five stages, namely Trust Minimization, ZK-Programmability, and Settlement Layer Performance. ), Recursive Rollup (Recursive Rollup) and Road to DAOification (Road to DAOification).
Among other things, trust minimization will make the protocol immune to centralized attacks and biases, and add decentralized data storage to Mina's feature set. ZK programmability will build a better ZK programmability layer on top of Mina with scalable verification and zero-knowledge privacy. The settlement layer performance will optimize Mina's latency, finality, and throughput. A trustless bridge between chains will be achieved through recursive ZKP.
The Conflux community initiated a new proposal to deploy Uniswap V3 on the Conflux Network
Odaily News Conflux initiated a proposal in the Uniswap community to deploy Uniswap V3 on the Conflux Network to introduce Web2 users into DeFi, increase penetration in the Asian market, and enter the rapidly expanding Conflux ecosystem.
The proposal believes that the cooperation between Conflux, Xiaohongshu and China Telecom has caused a large influx of Web2 users, and Uniswap can increase the amount of liquidity by deploying on Conflux and provide users with new trading opportunities.
The proposal stated that after the on-chain voting, the Conflux Foundation can deploy Uniswap V3 on the Conflux eSpace, which is expected to take five weeks; a snapshot voting will be conducted to determine the cross-chain bridge solution, and Multichain may be the solution, which will wait for community feedback and safety assessment results.
Odaily News Astar Network, a multi-chain DApp protocol, will launch the second-generation smart contract on the mainnet on April 6, supporting both EVM and WASM VM.
Astar Network founder Sota Watanabe explained that this iteration will allow developers to create WASM or EVM projects on its network and allow new multi-chain applications to be launched. According to reports, the new upgrade allows developers to connect their Astar projects to any Polkadot- or EVM-based ecosystem. (Cointelegraph)
OKT Chain integrates WasmVM and becomes a public chain that supports both EVM and WasmVM
According to OKX official news from Odaily, in order to realize the OKT chain (OKTC) multi-virtual machine (VM) vision, OKT Chain has integrated WebAssembly (Wasm) technology to become a public chain that supports both EVM and WasmVM.
After the integration, projects running on Wasm can now seamlessly transition and migrate to OKTC, creating even more opportunities for new and innovative dApps. Additionally, there is a native bridge module capable of automatically converting KIP 20 assets to CW 20 assets and vice versa, enabling a highly innovative approach to contract interaction.
Bottom layer-Layer 2
Bottom layer-Layer 2
Odaily News The Arbitrum Foundation has submitted two new proposals to expand ARB token holders’ budget oversight and governance powers to address last weekend’s collapse in cryptocurrency governance.
The first proposal, AIP-1.1, proposes to place the Foundation's remaining 700 million ARB in a "smart contract-controlled lock," unlocked over four years. According to the proposal, the foundation will not be able to use tokens until community members approve the token allocation budget. Additionally, the Arbitrum Foundation has released a transparency report on how the organization was formed.
The second proposal, AIP-1.2, seeks to amend several governance documents of the Arbitrum ecosystem, including lowering the threshold for the number of ARB tokens required to post improvement proposals on-chain from 5 million to 1 million.
DAO members will have three days to provide feedback on the proposals, after which the two proposals will undergo a one-week snapshot vote.
Optimism: Token House Approves Mainnet Bedrock Upgrade
Odaily News Optimism, the second-layer solution of Ethereum, announced that its governance organization Token House has voted to approve the upgrade of Optimism mainnet Bedrock. Not only was this the first on-chain vote conducted by the Collective using the new voting page, it was also the first protocol upgrade.
The voting link is the V2 version of the Bedrock upgrade proposal. The upgrade standard process is to first perform a Regolith hard fork on Optimism Goerli. After the audit is repaired, a 2-week test will be carried out on the testnet. Only after the testnet stability standard is met , the Optimism Foundation will not announce the upgrade date until at least 3 weeks after the release date. Upgrades will be triggered at specific times, not block heights.
Odaily news Coinbase Ethereum Layer 2 network Base launched Base Builder Quest for smart contract developers, allowing developers to deploy smart contracts on Base to complete tasks and become early Base builders.
LayerZero completes $120 million Series B financing at a valuation of $3 billion, with Sequoia Capital and others participating
infrastructure components
Bryan Pellegrino, co-founder and CEO of LayerZero Labs, said a total of 33 investors participated in the Series B round, but there was no lead investor. Funding was raised to meet LayerZero's growth plans. LayerZero also plans to grow its current headcount of more than 40 to around 70 by the end of the year by hiring across functions, including marketing. Pellegrino declined to comment on the token launch timeline. (The Block)
Bryan Pellegrino, co-founder and CEO of LayerZero Labs, said a total of 33 investors participated in the Series B round, but there was no lead investor. Funding was raised to meet LayerZero's growth plans. LayerZero also plans to grow its current headcount of more than 40 to around 70 by the end of the year by hiring across functions, including marketing. Pellegrino declined to comment on the token launch timeline. (The Block)
Odaily news Lido, a liquidity staking protocol, published a document predicting the withdrawal speed of Ethereum after the upgrade in Shanghai.
According to Lido, if there is enough ETH in the protocol buffer to provide services, withdrawal requests of less than 1000 ETH can be completed within 1 day (standard Ethereum withdrawal takes 2-6 days), and withdrawal requests in the range of 1000 to 5000 ETH Withdrawal requests may take 2 days to complete, withdrawal requests over 5,000 ETH are expected to take 4-10 days, and withdrawal requests over 100,000 ETH are expected to take two weeks to complete.
Ethereum Restaking Protocol EigenLayer Launches Phase 1 Testnet for Stakers
Odaily News The Ethereum re-pledging protocol EigenLayer released the first phase of its protocol test network on the Ethereum Goerli network. Currently, it only supports liquid re-pledging (liquid restaking) and native re-pledging (native restaking). Among them, liquidity re-pledging supports the re-pledging of various liquidity tokens on the EigenLayer contract.
It is reported that the release of EigenLayer will be carried out in three stages, namely pledgers, node operators and services. EigenLayer stated that the testnet is an early non-incentivized testnet and the code is under active development.
MetaMask launches experimental feature that warns users when they interact with known scams
Odaily News MetaMask announced that it has cooperated with OpenaSea and Blockaid to launch an experimental feature that will warn users when they interact with known scams. Users who choose to use this feature will benefit from OpenSea's known scam blacklist, and Blockaid's Analysis of malicious behaviors such as signature mining and wallet exhaustion.
OKX Web3 wallet launched MPC wallet without private key, the first emergency exit function
Odaily News On April 4th, according to OKX official Twitter, OKX Web3 wallet has been launched MPC wallet without private key.
It is reported that the wallet without private key is developed based on MPC technology. It is the first 2/3 multi-chain wallet without private key on the market and supports 37 public chains. And the first emergency exit function, users can export private keys to withdraw assets through two private key fragments completely managed by themselves in emergency scenarios, realizing a truly decentralized self-custodial wallet without private keys.
KuCoin Wallet will be renamed Halo Wallet and will operate independently, and has received the first round of financing from IDG, HashKey Capital, etc.
Odaily News KuCoin Wallet has been renamed Halo Wallet, and the team has officially separated from KuCoin Group and will operate independently.
It is reported that Halo Wallet has received the first round of financing from KuCoin Ventures, IDG, HashKey Capital, etc.
It is reported that Halo Wallet has received the first round of financing from KuCoin Ventures, IDG, HashKey Capital, etc.
Gitcoin will open a new round of donations from April 25th to May 9th
secondary title
CeFi
The Mt.Gox repayment window is now open, but the repayment period may be extended
Odaily News The window for Mt.Gox creditors to provide their repayment information has been opened. Still, repayments will take some time and repayment deadlines may change, the Mt. Gox trustees said.
Basic, mid-term and early lump-sum payments can now be made by the October 31 deadline, according to the April 7 letter from the Mt. Gox trustees. The trustee noted that he will carry out preparations for repayment, coordinating with a list of financial institutions, including cryptocurrency exchanges, that will receive payments and distribute them to creditors."Given this, expect it to take some time for repayments to start."The trustee noted that the repayment period could be extended with the permission of the Tokyo District Court.
Binance recently rejected Justin Sun's offer to buy its Huobi stake
Odaily News According to a person familiar with the matter, Binance recently rejected a proposal to acquire Justin Sun’s ownership stake in Huobi. Binance, which has been led to believe that Justin Sun owns a majority stake in Huobi, is not interested, the anonymous sources said. Justin Sun's proposal was made directly to CZ last week. Representatives for Justin Sun and Huobi did not respond to requests for comment. (CoinDesk)
Justin Sun: No offer to buy Huobi made to CZ
Odaily News Justin Sun said that he has always regarded Binance as one of our most important partners and will continue to work closely with them at all levels. However, I must point out that I haven't made any offers to CZ about buying Huobi in the past week or so, and we haven't even discussed Huobi in the past week or so. Huobi has no intention of changing ownership.
Bakkt Completes Acquisition of Apex Crypto for $55M in Cash and $100M in Stock
Odaily news digital asset platform Bakkt completed the acquisition of Apex Crypto, Bakkt will pay 55 million US dollars in cash and 100 million US dollars in stock. It is reported that Bakkt first announced the acquisition of Apex Crypto in November 2022, subject to the approval of the New York Department of Financial Services.
secondary title
DeFi
Aave Founder Issues Progress Update on Stablecoin GHO
Odaily News Aave founder and CEO Stani Kulechov released a progress update on the stablecoin GHO: the code has been made public, the audit has been completed; the formal verification has been completed; it has been released on Goerli; and the bug bounty is ongoing.
MakerDAO Protocol Engineering core department to shut down at the end of April
Odaily News On April 6, Derek, the developer of MakerDAO’s Protocol Engineering Core Unit (PECU), posted on the Governance Forum that MakerDAO’s PECU is being closed due to the governance structure reform proposal proposed by Maker founder Rune Christensen. , and there will be an orderly transition to a situation where it is replaced by independent ecosystem players.
With the successful launch of the Endgame and Constitution MIPs, it's clear that Scope Frameworks is changing the way contributors are requested for work, Derek said. As a result, PECU will cease operations at the end of April 2023 and will work with community members to ensure a successful transition to the new framework.
Based on this situation, several MakerDAO PECU developers have left messages stating that they will stop contributing to MakerDAO starting April 30.
The Aave community launched a Temp Check vote on "Deploy Aave V3 to StarkNet"
Odaily News The Aave community initiated a "Temp Check" vote for "deploying Aave V3 to StarkNet". According to the proposal, the integration plan between Aave and StarkNet will be carried out in two phases. The first phase is to deploy a cross-chain bridge for aTokens between Ethereum and StarkNet. The first phase has been voted by the community. This proposal aims to complete the second phase, which is to fully deploy the Aave protocol on StarkNet.
dYdX announced that it will withdraw from the Canadian market, users can withdraw at any time
Odaily News The decentralized derivatives exchange dYdX announced on Friday that it will withdraw from the Canadian market and is gradually reducing user access from Canada. Starting at 17:00 UTC on April 7th (01:00 Beijing time on April 8th), dYdX will stop recruiting new users in Canada, but existing users will still have one week to continue trading. From 17:00 on April 14th UTC (01:00 on April 15th Beijing time), all users in Canada will switch to the liquidation-only mode, and users can withdraw funds at any time.
The dYdX team stated that if the regulatory environment in Canada changes in the future, it may resume offering services in the country.
SushiSwap plans to quickly deploy V3 to nearly 30 blockchains
Odaily News SushiSwap chef Jared Gray said that SushiSwap plans to quickly deploy V3 to nearly 30 blockchains. According to DefiLlama, SushiSwap V3 is one of three early forks of Uniswap V3, the other two being PancakeSwap V3 on the BNB chain and Ethereum, and Maia V3 on Metis.
Trader Joe: The upgraded trading engine Liquidity Book V2.1 has been launched
Odaily News According to the official Twitter of the decentralized trading platform Trader Joe, its upgraded trading engine Liquidity Book V2.1 has been launched, which aims to enable depositors to add Tokens to Trader Joe's liquidity pool more efficiently and improve On-chain trading experience, including: Autopools, Autopool Receipts, sJOE, Permissionless Pools, Fees now compound, migration to the new V2.1 liquidity pool and Maker-style limit orders.
PancakeSwap launches V3 version on BNB Chain and Ethereum
Odaily News PancakeSwap launched its V3 version on the Ethereum and BNB chains. The upgraded platform will offer low fees and increase LP returns. According to reports, V3 will introduce four different transaction fee levels: 0.01%, 0.05%, 0.25% and 1%. In addition, PancakeSwap V3 also introduces features to improve the capital efficiency of the platform.
In the future, PancakeSwap V3 will introduce two new functions: V3 "VIP" trading reward program and position management function. Both features are currently in development and are expected to launch soon. (CoinDesk)
Odaily news Arbitrum ecological DEX Camelot will launch the V2 version in three stages, the first stage (centralized liquidity AMM) will be deployed on April 8th, the second stage is UI optimization, and the third stage is centralized liquidity efficient mining. Additionally, initial airdrops for GRAIL public sale participants will be distributed after the AMM launch.
Instead of spending a lot of time and resources rewriting clAMM from scratch, Camelot said, it leverages the efficient Algebra v2 code base. Algebra v2 is a centralized liquidity AMM that works similarly to Uni v3 with the addition of some custom and efficient features.
Decentralized exchange platform SyncSwap will launch token SYNC, which has not yet been created
Odaily News According to the official Twitter, SyncSwap, a decentralized trading platform based on zkSync, announced that it will launch the token SYNC. The token has not yet been created, and users should beware of fraudulent information.
HOPE is now in public beta on the Sepolia testnet dApp
According to official news from Odaily, the distributed stablecoin project HOPE has started public testing on the Sepolia test network dApp, including functions such as HopeSwap, Staking, Liquidity Farming, and Gauge Vote.
Odaily news Aptos ecological DeFi protocol Thala has been officially launched on the Aptos mainnet at 8:00 Beijing time today.
It is reported that Thala’s LBP pool closed at 7 o’clock today, and finally raised US$2.955 million through ThalaLaunch’s public offering, with a transaction volume of US$8.28 million.
NFT
OpenSea Pro Airdrops "Gemesis" NFT to Gem Users
Odaily News OpenSea Pro announced that users who have used Gem before March 31, 2023 are eligible to receive "Gemesis" NFT. This NFT can be minted directly on OpenSea. The casting page will go live later today.
Today, Gem announced that it has changed its name to OpenSea Pro, launched a new version of its official website, and said it will track user data and "score" users.
Magic Eden Ethereum Platform Live, Bitcoin Launchpad Coming Soon
Odaily news NFT market Magic Eden tweeted that the Ethereum platform has been officially launched, will cooperate with 17 ETH Launchpad creators, and will respect the original listing royalties of all series.
Magic Eden said that the currently launched Ethereum platform is a "minimum viable product (MVP)", and more functions will be launched in the future and more NFT platforms on the Ethereum chain will be aggregated. In addition, Magic Eden will launch the Bitcoin Launchpad on Friday local time.
NFT trading platform LooksRare announced that it has launched the V2 version
Odaily News The NFT trading platform LooksRare announced that it has launched the V2 version. The new version provides the following updates: the fee is reduced to 0.5%; the gas fee is 50% cheaper than Blur; one signature bulk pending order; one-time purchase of more than 70 NFT; sellers can Get ETH instead of WETH.
Odaily News According to the official Twitter, ParaSpace has launched an incentive plan. Users' behaviors and activities will be rewarded with points, and the points will be exchanged for ParaSpace tokens through airdrops when ParaSpace releases tokens. Through the end of the second quarter (June 30, 2023), ParaSpace will increase the reward points earned by users to 300%. It is reported that valid behaviors for earning points include borrowing money, participating in APE pledge, and buying on credit.
In addition, ParaSpace plans to accelerate the launch of governance tokens after completing the development of core products and functions.
BendDAO's 1st Anniversary Financial Statement: Operating income is about $2.22 million
Odaily News BendDAO community contributor Unboxing Labs announced BendDAO's first-year financial statement, including cash reserves, loans, NFT (escrow, transfer, and deposit), and other capital information such as equity. According to the report, the annual interest income of BendDAO is 3630.66 ETH, the annual interest expense is 2447.04 ETH, and the operating income is 1183.62 ETH (approximately 2.22 million US dollars). In addition, the basic income is all distributed to veBEND holders.
Otherside Now Launches Koda NFT Split and Vessel NFT Claim
Odaily News According to the official Twitter, Yuga Labs’ metaverse project Otherside announced that it has launched the Koda NFT split and Vessel Claim. Only Otherdeeds who own Koda can split, but all Otherdeeds holders can Claim a Vessel NFT. The claim process is best done through a desktop browser, both Vessel Claim and NFT splits are open indefinitely.
In addition, the user's Otherdeed NFT must be destroyed after the split, and burning the original Otherdeed will generate a Koda NFT and an Otherdeed Expanded NFT without Koda. Each NFT will exist in a new collection, independent of each other. The Otherdeed Expanded NFT is the key to unlocking future game experiences and activations including Otherside: Legends of the Mara.
Moonbirds to Launch Diamond Nest "Choice Pass" Airdrop on April 18th
Odaily News The NFT project Moonbirds announced that it will launch the exclusive Diamond Exhibition NFT Drop on April 27, which will showcase 10,000 digital artworks from 22 artists, including Beeple, Greylesian, Dirty Robot, etc.
In addition, Moonbirds announced that it will launch the Diamond Nest “Choice Pass” airdrop on April 18th. From April 24th to 27th, Choice Pass holders can choose the artists they follow, and the subsequent lottery and airdrop for Choice Pass holders will be held on April 27th.
Cool Cats Launches Journey 5, a Gamified Storytelling Experience, Ends April 11th
Odaily News NFT project Cool Cats announced that Journey 5 has been officially launched, providing Cool Cats NFT holders with an interactive, gamified storytelling experience, including puzzles, riddles, etc. Players can unlock new story levels and earn rewards.
Cool Cats reminded users that there is only a 96-hour join window for Journey 5, and the deadline is April 10 at 15:00 EST (April 11 at 3:00 Beijing time).
social contact
social contact
Twitter once changed the webpage LOGO icon to a DOGE dog avatar
Odaily News Twitter once changed the webpage LOGO icon from a blue bird to a DOGE dog avatar this week, and it has now been restored.
Dmail launches mobile terminal adaptation, fully optimizes Web3 cross-chain communication services
Odaily News Dmail has officially launched a new version 3.0.0 _beta, providing secure, private and efficient cross-chain encrypted communication services. The main iterative content of the new version includes upgrading the product UI/UX, supporting the use of H 5 on the mobile terminal, supporting more login wallets, optimizing the login and information loading mechanism, supporting Conflux eSpace login and DID Free-Mint, contact list display and management optimization, etc. .
As of now, Dmail has completed multi-chain deployments such as Ethereum, BNB Chain, Dfinity, Conflux, Polygon, Optimism and PlatOn;
game
game
Director of sci-fi movie "District 9" launches Avalanche-based Web3 game Off the Grid
security incident
security incident
Venom Drainer Has Created 530 Phishing Sites, Has Scammed $27 Million
Odaily News Scam Sniffer tweeted that Venom Drainer, a new phishing scam team as a service provider, has created 530 phishing sites targeting more than 170 projects including Arbitrum, Blur, zkSync, Optimism, and MetaMask.
So far $27 million has been defrauded from 15,000 investors, with the first 5 victims losing $14 million.
Its phishing methods include: obtaining the victim's approval through Permit or Approve, transferring ERC 20 tokens on the chain; luring users to sign malicious NFT lists.
MEV robot hacked, losses around $25 million
Odaily News According to Twitter user 3155.eth’s disclosure on social media, some top MEV robots have been targeted by hackers, and the trading modules in the sandwich arbitrage have been replaced. Could be a major turning point for the entire MEV ecosystem. In addition, 3155.eth speculates that the attack may have been planned for a long time. The attacker has become a verifier 18 days ago and has prepared relevant tokens. The relevant source of funds is extracted from the privacy program Aztec.
According to the analysis of Twitter user @GaoFlynn, "During the transaction, the hacker got the bundle transaction of the big sandwich arbitrage bot, and there are 3 transactions in the bundle: a large amount of buying; a transaction of the trapped user; a large amount of selling. When I got to this bundle, I disassembled the bundle, replaced 2 with my own transaction, exchanged the bot’s funds with cheap tokens, and then the transaction in step 3 failed.”
Sentiment is currently investigating $1 million stolen from the Arbitrum network early this morning
Odaily News According to Paidun’s monitoring, the DeFi lending agreement Sentiment was stolen from the Arbitrum network in the early hours of this morning. About 1 million US dollars was stolen. The root cause is the read-only reentrancy of Balancer.
According to Sentiment's official Twitter, it is currently investigating the indictable behavior of stealing funds from the Sentiment protocol. Sentiment has taken steps to identify the root cause of the vulnerability and mitigate further protocol abuse, and is in touch with law enforcement and has been cooperating with third-party auditors and security firms. In addition, it also stated that its top priority is to ensure the safety of the remaining funds and recover the lost funds.
Odaily Xun Paidun tweeted that the SushiSwap RouteProcessor 2 contract has an Approve-related vulnerability, which caused the former Frog Nation CFO 0x sifu to lose more than $3.3 million (about 1900 ETH). Paidun reminds users to revoke the relevant permissions of contracts starting with 0x 044 b 7 as soon as possible to avoid losses.
Previously, Twitter user Trust stated that he had carried out a white hat hacking attack and transferred 100 ETH of 0x sifu, and hoped to return it to 0x sifu. 0x sifu can contact him by private message. Trust later tweeted, "This is insane. MEV bots deployed contracts and replicated the attack before I saved everything."
Euler Finance attackers have returned all stolen funds
Odaily News Euler Labs tweeted that after successful negotiations, the attacker has returned all the funds stolen from the agreement on March 13.
Euler also announced the user redemption plan, in which the recovered funds totaled 95,556.36059211764 ETH and 43,063,729.35 DAI. The unrecovered funds included a total of 1,100 ETH sent to Tornado Cash by the attacker and sent to Ronin attack 100 ETH from the address of the attacker, the other 100 ETH was directly returned to the user by the attacker, and the user returned 12 ETH to the Euler DAO treasury. The DAO vault address also holds 3,396,964 USDC and 1,007,321 DAI from the Sherlock protocol.
For each sub-account, Euler Finance plans to repay all liabilities at the block height when the protocol is disabled, at which point the on-chain oracle price (Uniswap or Chainlink, depending on the market) defined in the smart contract is used to determine the ETH value of assets and liabilities , and each asset in the account (including non-collateralized assets) is used proportionally to service the liability. All account equity will be added to obtain the total equity, and each account will be able to claim the recovered ETH, DAI, and USDC according to its proportion in the total equity. If the value of the recovered amount exceeds the total net asset value, the excess will be distributed to users pro rata.
Odaily News The cross-chain bridge Allbridge issued an announcement stating that although only part of the funds have been recovered, it has begun to compensate users affected by the attack. “We will start with bridge users whose transactions are pending due to the emergency shutdown, and they will be compensated first, followed by liquidity providers (LPs).” It is currently drafting an application form for LPs who cannot withdraw assets , allowing them to apply for compensation and provide details of the loss. The form is expected to be completed within the next two days. The compensation process is expected to begin within the next week.
