Percent Finance

A 100% community-owned fork of @compoundfinance

Discord:

[Percent Finance @PercentFinance]

Users funds on our platform amounting to ~$1m are stuck in money market smart contracts

Reaching out to @WrappedBTC and @circlepay/@coinbase respective teams to help us make affected USDC/WBTC holders whole

Read Below:
https://t.co/63Q1DlyqVv

[Percent Finance @PercentFinance]

@ChainLinkGod @compoundfinance @chainlink While Percent has had other issues, our integration with Chainlink has been rock solid https://t.co/5JXYQ8APpu

[Percent Finance @PercentFinance]

Post-mortem of the Percent Finance money market incident https://t.co/XADTmwwSLR

[Percent Finance @PercentFinance]

Well done @DeBankDeFi, keep up the good work!

[DeBank @DeBankDeFi]

1/2
💯 Milestone: DeBank DeFi TVL ranking has integrated 100 DeFi projects!

- Total value locked: 15.8B
- True value locked: 10.6B (solve the DeFi double counting issue)

🧓Nobody knows more about TVL than DeBank:
https://t.co/WTZrZjzmap

[Percent Finance @PercentFinance]

Clarifying #7 above ("and the existing supplied and borrowed balances could be preserved"): The ledger entries tracking what each user owns or owes could be preserved, but the actual assets cannot be transferred.

[Percent Finance @PercentFinance]

1/ A brief technical explanation: The three markets that are frozen use an older style of CToken. All others use a new style. Both were copied from Compound as part of the fork.

[Percent Finance @PercentFinance]

7/ The CToken contracts can be replaced with new ones, and the existing supplied and borrowed balances could be preserved, but the assets held in the old CToken contract cannot be migrated to the new contract.

[Percent Finance @PercentFinance]

8/ The net result is that every user operation fails while trying to accrue interest, so assets in the 3 contracts cannot be supplied, withdrawn, borrowed, repaid, or seized. /FIN

[Percent Finance @PercentFinance]

I want to shill something that's not our money market. I know I'm late to the party, but I just finished "The Infinite Machine" by @CamiRusso and it was $$$. Buy it, read it, then go build something:

https://t.co/HXDv86B7br

[Percent Finance @PercentFinance]

@phileomancer Thanks @phileomancer!

[Percent Finance @PercentFinance]

Excited to see we made it into the @ethhub_io newsletter this week! Thankful for you guys @sassal0x @econoar. See below for a very full weekly Eth update:

https://t.co/rEqiGn1U46

[Percent Finance @PercentFinance]

Upvotes on the @blockfolio token integration would be helpful as well.

https://t.co/SNTBCU8rhv

[Percent Finance @PercentFinance]

Dear DeFi, with the restart of our liquidity rewards we have returned to a multi-million dollar TVL. As we pick up traction again, we would love to have people's support for our request to integrate with @zapper_fi

https://t.co/kZqRrfCckd

Show us some love with a quick upvote?

[Percent Finance @PercentFinance]

Are you interested in helping us select five new tokens to add to our money market in the coming weeks? Come participate in the poll on our governance forum below:

https://t.co/3l85o1TBLl

[Percent Finance @PercentFinance]

@DeFiGod1 Ya @DeFiGod1 as @RIPTERRYADAVIS says above, the APY is split. Some alpha for you: we're looking at a way to change rewards after this month to be lend - borrow, instead of lend + borrow on each given stablecoin market, just to avoid recycled leverage farming. TBD though.

[Percent Finance @PercentFinance]

1/3

Remember when you thought we were just a harmless, late-summer fork that would die a quick and painful death? Well, I’m pleased to announce that Percent is here to stay. As of today, our third and final phase of liquidity rewards has started!

[Percent Finance @PercentFinance]

Thanks for the interest @DeFipunk. I like your Daft Punk logo btw. Look, they're a hero because we can't incent Uniswap liquidity. Our community allocated all rewards to the money market itself, so this person is doing it on a voluntary basis. That's a hero in my books.