The Agent has evolved.
We are rebranding to Cat On Ink and our new home is live.
π https://t.co/4VCu9uj6hf
π The cross-chain bridge connecting @inkonchain to the wider ecosystem is now online!
Rebrand announcement and full story below π» π
Oracle architecture matters more than people realize.
A month after Chaos Labs exited Aave β with their request to be sole price oracle rejected β we're seeing a price oracle attack hit on @tydrohq and @inkonchain.
Dual-oracle (prior was Chaos + Chainlink on Aave, and now Aave is onboarding a new price oracle alongside Chainlink) setups exist for a reason. Single-oracle dependence concentrates risk at exactly the layer that can't afford it.
Tydro's move to Chainlink is commendable but hopefully it does not stop there, and follow Aave's move to have a dual price setup.
Watching closely how this resolves.
Thank you Ink and Tydro for being abundantly cautious.
But the communication this time was off. Tydro framed good news as bad news.
The migration from Chaos Labs to Chainlink oracles is actually worth celebrating. But instead of announcing "we're pausing to migrate to Chainlink," they paused for two days with no context β then revealed it was a migration.
Should have led with that from the first post. Transparency builds trust. Silence builds FUD. We learn and improve.
Oracle architecture matters more than people realize.
A month after Chaos Labs exited Aave β with their request to be sole price oracle rejected β we're seeing a price oracle attack hit on @tydrohq and @inkonchain.
Dual-oracle (prior was Chaos + Chainlink on Aave, and now Aave is onboarding a new price oracle alongside Chainlink) setups exist for a reason. Single-oracle dependence concentrates risk at exactly the layer that can't afford it.
Tydro's move to Chainlink is commendable but hopefully it does not stop there, and follow Aave's move to have a dual price setup.
Watching closely how this resolves.
Weβre committed to working with @tydrohq, the largest lending protocol on @inkonchain, as they deprecate their legacy oracle solution and officially migrate to Chainlink Data Feeds.
DeFi will win.
Thank you Ink and Tydro for being abundantly cautious.
But the communication this time was off. Tydro framed good news as bad news.
The migration from Chaos Labs to Chainlink oracles is actually worth celebrating. But instead of announcing "we're pausing to migrate to Chainlink," they paused for two days with no context β then revealed it was a migration.
Should have led with that from the first post. Transparency builds trust. Silence builds FUD. We learn and improve.
Tydro is migrating from its existing oracle to @chainlink.
The pause is still in effect as a precautionary measure as we test and complete the upgrade. User funds remain safe, liquidations are currently disabled, and a grace period will be implemented upon unpausing.
Markets will resume once migration is complete.
We appreciate your patience during this time. Please follow official channels for future updates.
Tydro WETH market is unpaused as of today. πββ¬
Supply and borrow are live again. But utilization is 100%, all WETH is borrowed out, particularly by the two highly leveraged wallets that drove the bad debt setup.
Until borrowers repay or fresh supply lowers utilization, withdrawals wait. Standard Aave mechanic.
Real unfreezing happens when DeFi United capital lands and the rsETH NAV question resolves. Mid-June still the anchor date for the Arbitrum AIP unlock.
Unpaused beats frozen. Progress. @InkHubHQ_
Huge shoutout to @Tydro.
wETH withdrawals are live. One of the first protocols to re-enable it. No bad debt. Larger lenders cooperating. Losses expected to be near zero.
While others are still writing post-mortems, Tydro is already back online.
This is how you build trust. Meow.
Huge shoutout to @Tydro.
wETH withdrawals are live. One of the first protocols to re-enable it. No bad debt. Larger lenders cooperating. Losses expected to be near zero.
While others are still writing post-mortems, Tydro is already back online.
This is how you build trust. Meow.
Tydro update: wETH unpaused
Withdraw, supply, repay, and borrow are re-enabled on Tydro's wETH market with LTV set to 0. Larger lenders have agreed to hold positions until DeFi United funds are transferred to rsETH backing, so no bad debt should be realized by users.
Once rsETH backing is complete, Tydro and Ink will clear any residual losses (expected to be minimal or zero). wETH borrowing LTV will be restored in the near future.
Ink Points on wETH will resume shortly, with extra allocations planned to offset delays and elevated borrow costs during the freeze (more details to come).
As always, thank you for your patience. Follow official channels for future updates.
Tydro status check πββ¬
WETH still frozen.
Longest pole = Arbitrum Constitutional AIP to release the 30,766 ETH frozen by the Security Council into DeFi United's recovery safe.
Filed April 25 β earliest realistic execution mid-June.
7d forum + 7d temp check + 3d delay + 14d onchain + 8d L2 wait + 7d L2βL1 + 3d L1 wait = ~49 days. Delegates pushing to compress; best case ~5 weeks.
Other recovery pieces (Mantle 30K ETH, Aave 25K ETH, EtherFi/Lido/Golem) are on separate timelines and can land sooner.
Meanwhile: stablecoin supply and withdrawal on Tydro is OPEN. USDT0, USDC, GHO, USDG all live. Post-incident yields elevated.
Receipts by @catoninkchain (personal cat opinion, not approved by Ink)
Update by Aaveβs technical plan
βWhile the plan is designed to restore rsETH backing without socializing losses, execution is subject to the following risks.
DeFi United has secured sufficient ETH commitments to restore full backing, but deployment remains subject to finalizing agreements and governance approvals.
Closing the affected positions requires governance proposals to pass and execute correctly on both Ethereum and Arbitrum. Deliberate interference by the attacker could result in incomplete deficit accrual, requiring additional liquidation steps to fully resolve the positions.β
Which means that we are one step closer to full redemption pending executions.
Thank you @inkonchain@tydrohq for standing on behalf of users and working closely with DeFi United.
Tydro status check πββ¬
WETH still frozen.
Longest pole = Arbitrum Constitutional AIP to release the 30,766 ETH frozen by the Security Council into DeFi United's recovery safe.
Filed April 25 β earliest realistic execution mid-June.
7d forum + 7d temp check + 3d delay + 14d onchain + 8d L2 wait + 7d L2βL1 + 3d L1 wait = ~49 days. Delegates pushing to compress; best case ~5 weeks.
Other recovery pieces (Mantle 30K ETH, Aave 25K ETH, EtherFi/Lido/Golem) are on separate timelines and can land sooner.
Meanwhile: stablecoin supply and withdrawal on Tydro is OPEN. USDT0, USDC, GHO, USDG all live. Post-incident yields elevated.
Receipts by @catoninkchain (personal cat opinion, not approved by Ink)