Myth Finance

Exotic Defi on Algorand // dualSTAKE: Liquid staking with ASA Rewards // Bench: Constant price markets

[Myth Finance @Myth_Finance]

"You mutht be mythtaken"

We had our top quant analyze this phenomenon

Amazed 🐝 Be 📜 1/5

[TD 👑 @DragonFi_FIRE]

Download my new iOS app: Predict Six 🔮

https://t.co/Un3YMCX0l7

FIRST 600 USERS earn *Founding Member* status - free premium features for life!

HERE’S HOW IT WORKS

- 6 questions every day
- Answer yes or no for each one
- Wait for real-world outcomes
- See how you did and earn points
- INVITE FRIENDS / COMPETE IN GROUPS

[danielschmidt.algo @DAlgo86297]

I still think time delayed hash verified contract upgrades are underrated. So cool.

[Haystack @haydotapp]

Two new features are now live on Haystack!

➡️Haystack Login 🔑
➡️Haystack Launch 🚀

To celebrate, we’re running Launch Week (Feb 17–24) with 100,000 HAY in prizes.

Here’s what’s new 🧵

[alpha arcade @alphaarcade]

Super Bowl markets are live! 🚨

We launched on mainnet last year on the Super Bowl. Crazy it's been a whole year already. We ❤️ you all

[Myth Finance @Myth_Finance]

@AlgoNumbers lil bro doesnt even use ms paint probably

[Myth Finance @Myth_Finance]

2/2 - Links

Redeem here: https://t.co/sLmJ5cvGBq

Sunsetting docs: https://t.co/OKTxpU4ABd

cc xusdALGO holders with X attached to their NFDs: @Hunger4Crypto @mchlschwzr

[Myth Finance @Myth_Finance]

1/2 - In light of the recent @Compxlabs incident, we have sunset the xusdALGO dualSTAKE

Holders, please redeem your xusdALGO assets back to ALGO+xUSD

[Myth Finance @Myth_Finance]

10 GOTO https://t.co/veyWAPBNac

[Myth Finance @Myth_Finance]

🤓 New feature: Export your dualSTAKE activity

- Export your personal mint & redeem activity as CSV
- View precise ALGO + ASA amounts
- View ASA/ALGO rate progression, reflecting your rewards accruing
- Transaction IDs & Explorer links

[Myth Finance @Myth_Finance]

Higher 💹

[alpha arcade @alphaarcade]

<1 year ago we launched our beta on the Super Bowl & did our first $ALPHA sale at $0.002

Today, we hit $10M in volume & $ALPHA is at $0.022, a 10X increase 🔥

Thank you all for the support 💜 cards, Apple Pay, multichain predictions beta live. CEX listings & NTT coming soon🫡

[Haystack @haydotapp]

Our @Myth_Finance DualStake pool has been boosted with 16,200 HAY over 540 blocks, bringing the current APR to ~9.4%.

With DualStake, you stake ALGO and earn HAY. MythFinance automatically converts the ALGO staking rewards into HAY. 🔥🌾

Link 👇

[Myth Finance @Myth_Finance]

And stake it on @Myth_Finance to earn MORE @alphaarcade

[Outsider.monko.algo @outsider_algo]

@89srlb @alphaarcade And stake it on @Myth_Finance to earn MORE @alphaarcade

[alpha arcade @alphaarcade]

All funds secure ✅
Huge alpha farm on @Myth_Finance ✅
Myth is the future 🥵💦

[Myth Finance @Myth_Finance]

@alphaarcade alphaALGO farm is back with a vengeance!

15,700 $ALPHA will be paid out over the next 157 blocks produced by the alphaALGO node 🌶️

Stake ALGO+ALPHA for total 14.2% APR 🫢

Curious how that APR is calculated? Tap the [i] next to the APR and see the values we fetch from chain to calculate the spot APR

[Myth Finance @Myth_Finance]

@alphaarcade alphaALGO farm is back with a vengeance!

15,700 $ALPHA will be paid out over the next 157 blocks produced by the alphaALGO node 🌶️

Stake ALGO+ALPHA for total 14.2% APR 🫢

Curious how that APR is calculated? Tap the [i] next to the APR and see the values we fetch from chain to calculate the spot APR

[Myth Finance @Myth_Finance]

Update: Incident fully resolved.

The smart contracts were successfully upgraded to v1.2, and are fully operational.

Staking and unstaking is now available on all dualSTAKEs.

The contracts that were taken offline are now back online and participating in consensus.

All dualSTAKE contracts are now generating rewards in your favorite ASAs once again. Farms will work as expected.

--

Normally, during upgrades users are able to protest, which soft-blocks the upgrade until the protesting stake is dissolved and the ALGO+ASA components are returned to users:

https://t.co/gOV4f6bt3Q

During this recent upgrade, the protesting feature was temporarily disabled in the frontend. This was necessary because initiating or dissolving a protest requires a swap, which would have blocked the contract upgrades required to resolve the incident.

Protesting has now been fully restored, and the mechanism remains unchanged at the protocol level. I apologize for not communicating this change at the time, but I stand by the decision as the safest and fastest way to unblock users’ funds.

--

Finally, while deeply relieved that user funds remained safe, I acknowledge this incident as a failure, and sincerely apologize for the inconvenience and anxiety caused.

As a small token of my gratitude for your incredible support and patience during this nauseating 8 days, dualSTAKE will run with 0% platform fees until February 14th, and 0.5% fees between Feb 14 - Feb 28. From March 1st, fees will return to 3%.

[Myth Finance @Myth_Finance]

[URGENT] dualSTAKE incident

## Summary

1) First and foremost: Funds are safe.

2) The dualSTAKE frontend is currently offline/erroring.

3) All dualSTAKE contracts are unable to swap via tinyman, and will require a smart contract upgrade to function correctly

4) 6 dualSTAKE contracts are currently unable to unstake, and will require an upgrade before users can unstake

4a) The contracts are: aktaALGO coopALGO folksALGO hayALGO nikoALGO oraALGO

4b) These contracts will accrue rewards in ALGO until they are upgraded, which will let them swap into their pair ASA

4c) dualSTAKE contracts have a 7 day upgrade timelock, which makes upgrade ETA ~ 8 days.

5) The remaining dualSTAKE contracts will be able to unstake once the site is fixed.

5a) These contracts are: a200ALGO alcALGO alphaALGO arbzALGO finiteALGO goBTCALGO hogALGO marcusALGO memoALGO monkoALGO sparkyALGO statsALGO xusdALGO

5b) These contracts have been taken offline, which will pause rewards and prevent users' stake from being blocked.

6) I will do everything in my power to ensure this remains a major inconvenience and not a tragedy

## Technical Details

TL;DR: Tinyman upgraded their fees to 0.36%, dualSTAKE had hardcoded 0.3% fee, this prevents swapping rewards, which is how rewards accrue into ASAs, and also a requirement to stake/unstake (when there is surplus to swap)

- My contracts had encoded an incorrect assumption that the tinyman LP fees would always be 0.3%

- Tinyman upgraded their fees to 0.36% this morning

- When dualSTAKE contracts have a surplus from block rewards, they enforce swapping from ALGO to the paired ASA before staking/unstaking. This happens within the stake/unstake action itself.

- The 0.3% fee assumption in the dualSTAKE contract code leads to failed tinyman swaps, because the minimum requested amount is not met (due to the fees being higher)

- For contracts that have accrued ALGO rewards since this change was made, this blocks users from unstaking

- The swap action happens "virtually" when the dualSTAKE state is "read" from the frontend, which is currently causing frontend errors.

## Timeline (UTC)

07 Jan 2026 13:14 PM: Made aware of the issue

07 Jan 2026 14:21 PM: Keyreg offline for contracts that had not accrued rewards to prevent blocking unstaking

07 Jan 2026 15:16 PM: Disclosed incident

## Next Steps

- Fix frontend

- Prepare smart contract upgrade that fixes the swapping issue

- Stage smart contract upgrade on all dualSTAKEs

- Execute smart contract upgrade once the 7 day timelock has elapsed

- Communications will take place on X and our Discord

[Myth Finance @Myth_Finance]

Transparency update: Our contracts are now built and hashed in public in a Github workflow action.

This provides a third-party runner that builds and hashes the contracts, helping anyone verify that the hashes we publish on chain (and on the site) match the source code we present on Github.

It is also trivial to build and hash these contracts as a user on your own machine. We have also added the following section to our docs:

https://t.co/pf9BEl0lCh

Next Steps:

- Execute smart contract upgrade after timelock elapses, ETA ~14 hours, January 15th noon UTC

- Keyreg dualSTAKE contracts online so they start earning rewards again. This applies to the contracts listed under bullet point (5) at the top tweet.

[Myth Finance @Myth_Finance]

@baggyGFY @CoopCoinHQ 🫶