@ameensol When I click connect wallet on https://t.co/7DKwj2Zxvj, it automatically opens up phantom, doesn't even ask me for choice of wallet to use, might want to fix this
Good read. Few things that stood out for me:
- Group based accounting for multiple orders, similar thing happens in Polymarket in an opaque, offchain manner. It will be interesting to see how it plays out when this data is transparent onchain
- Tokenisation of debt and credit units as interchangeable units, the most fundamental change unlike other lending market
- Multiple collateral allowed, unlike Blue, honestly a great thing to add.
- Dynamic tick spacing, this ensures wider tick spacing, to encourage liquidity provisioning during initial phase, and then enable narrow spacing to provide tighter pricing.
- Recovery close factor, this introduces novel liquidation mechanism to ensure only as little debt is repaid for unhealthy positions as possible to make sure position is just healthy.
- Bad debt accounting before full collateral seizure unlike Morpho Blue, which doesn't create race between creditors to exit first and instead handing out haircut to all lenders proportionally.
One core difference from the permissionless and open Morpho Blue is that it appears to require coordination between market creator and Morpho team to update tickSpacing for the market, which imo should be made a constant and gated on backend side which keeps track of orders. Otherwise, it will create a situation for Morpho to select which markets to enable this for. @PaulFrambot in case I missed something or got it wrong, would appreciate comments.
Will start going through midnight repo next and report anything interesting I find.
@litocoen I think once we have stocks spot trading it will be solved. Most of these issues arise during off market hours, each exchange following a different way to set index price which leads to these.
🚨 Community Alert
@renegade_fi (Arbitrum) was exploited for ~$209K.
An unprotected initializer on the Dark Pool proxy let the attacker inject logic and delegatecall it in the proxy's storage, draining 27 ERC-20s.
Exploit Tx: https://t.co/jWaIqCxXTH
More details in🧵
@ItsAlwaysZonny@EchelonMarket@CabalFDN You are pushing iUSD and echelon markets, but is it even open source. Is it responsible pushing an opaque protocol. Given recent hacks, i don’t think it is correct approach, if anything you should be pushing echelon team to be transparent.
@bjnpck I think it is part of delta neutral, on redemption, close the short, this captures atleast 0.5% spread. Based on last year data, there has been ~1000 redemptions, more such cycles, more yield.
All this is hypothetical, can share actual numbers once i run my setup in few days
Lido already has a buffer for this, but after buffer is exhausted, you have to do this, at protocol level what lido has is best solution.
For solo stakers it can’t be done unless validator infra is run by a third party. In which case you set withdrawal credentials to a smart contract and simply sell its ownership.
Where can I review and verify your contracts. Your contracts repo in github is hidden. @initia you think it is correct to pushing such protocols, which doesn’t have bare minimum of transparency. Have we learned nothing from recent attacks?
Up to ~80% APR looping iUSD on @initia.
2.5% base lending APR on supply. -5.91% borrow APR.
Loop iUSD against itself to scale your position:
> Enable stable correlated E-Mode to maximize capital-efficiency
> Supply iUSD
> Borrow iUSD
> Re-supply and repeat
Enjoy yield!
@gajesh@FactoryAI I have a skill where codex delegate all code related tasks to composer 2 fast, while it plans and make sure everything is in order. Working pretty well for me