polymarket ghost fills exploit extracted $16,427 in one day at $0.10 gas per attack on a 50-second cycle. the flaw is architectural. off-chain order matching with on-chain settlement creates a cancel window that lets attackers leave market makers holding the bag infinitely. fixing it means moving to full on-chain settlement which destroys the speed advantage that built $2.2b in lifetime volume. they launched the token anyway after hitting 1 of 3 stated pre-TGE KPIs. insider trading indictment court date april 28. wisconsin gambling lawsuit. brazil banned them outright. prediction markets as a category are doing $3b+ weekly on kalshi alone with opinion markets up 82% and predict up 499% week over week. the demand is real. polymarket's execution is not. if you're long prediction markets you want the infrastructure that makes fully on-chain order books possible at sub-second finality not the platform that chose speed over security and is now bleeding from both ends
DeFi’s first native risk coverage layer for vaults is almost here.
With vault-native risk coverage, we at Catalysis are embedding programmable downside protection directly into vault deposits.
Backed by restaked capital from @eigencloud earmarked for underwriting DeFi vault risks.
Here’s how it works🧵
Elixir has worked tirelessly over the previous 48 hours and has successfully processed redemptions of 80% of all deUSD holders thus far (not including Stream).
As it stands now, Stream holds roughly 90% of the deUSD supply (~$75m), while Elixir holds a similar proportion of its remaining backing as a Morpho loan to Stream.
All remaining holders of deUSD and sdeUSD will be able to redeem for a dollar.
To protect the interest of these holders (and remove any risk of Stream liquidating deUSD before repaying their loan), a snapshot has been taken of all remaining deUSD and sdeUSD holder balances, and a claim page will go live later today. These parties will be able to claim USDC.
As a part of this, the mint/redeem infrastructure has been turned off, and we will be sunsetting deUSD in the near future. Any affected LPs in AMM pools or lending markets will be able to claim the full value of their position.
Given that Stream comprised of 99%+ of the lending positions (and has decided to not repay or close positions), we will work with Euler, Morpho, Compound and the curators moving forward to help distribute repayment of the Stream loan to liquidate these positions. We still believe this will be honored 1 for 1.
We will follow up to this post later today with claim page information.
Today, we announce Catalysis’ NEW focus:
Onchain Risk Coverage purpose-built for INSTITUTIONAL scale.
> $20B+ in protection from @symbioticfi and others
> Transparent pricing & programmable payouts
> Institution-first design
> Supported by @SpiceProtocol, @BimaBTC and @MEVCapital
Why did we pivot? ⬇️
Introducing mevBTC, a tokenised certificate issued by Midas, structured to reference BTC-denominated strategies by @MEV_Capital.
MEV Capital is a digital asset manager focused on deploying DeFi yield strategies and managing risk parameters in permissionless vaults.
Morpho-PT USDC makes its debut on Equilibria, bringing @MEVCapital’s vault strategy straight to your fingertips.🔥
Your USDC is set in motion across multiple PT collateral markets, constantly rebalanced to hunt down the highest yields. With Equilibria’s boosting power in play, this isn’t just passive income—it’s a precision-tuned yield machine ready to push your returns into overdrive.