hyphin

smart contract developer // writer @onchaintimes

[hyphin @hyphinlol]

an address associated with ostium deployed a vault implementation contract 18 hours ago that has yet to be upgraded (and maybe never will). the only change made was increasing the vault settlement upper bound validation constant to 30 days.

https://t.co/GSiQgehKnE

[hyphin @hyphinlol]

from what i've gathered ostium had both the execution keeper and oracle report signer keys compromised, which ultimately enabled the bad actors to rinse the vault with profitable trades

when they can't break the code, they go after the keys

[hyphin @hyphinlol]

@Saram_ath thats the unfortunate reality of custom oracle feeds, the innate permissioned nature that makes exotic assets accessible comes with a steep risk. the chainlink upkeep they use is fairly similar but operated by a reputable party.

hopefully they can make the OLP depositors whole

[hyphin @hyphinlol]

from what i've gathered ostium had both the execution keeper and oracle report signer keys compromised, which ultimately enabled the bad actors to rinse the vault with profitable trades

when they can't break the code, they go after the keys

[hyphin @hyphinlol]

@weremainbull1sh @0xThoor im pretty sure that its just the OLP

[hyphin @hyphinlol]

@Saram_ath they will likely rotate the keeper addresses and try to harden opsec but im afraid there is not much else to do now as the damage is done and the loss to the OLP depositors will be materialized next epoch

[hyphin @hyphinlol]

@bfresh @solana @base @RobinhoodCrypto while base does have 2s block times, don't 200ms flashblocks + 400m gas limit make up for it?

but i have to say 100ms block speed is pretty crazy, need very low latency on the rpc front + a whole bunch of credits for indexing unless skipping blocks is acceptable

[On Chain Times @onchaintimes]

https://t.co/jkpjvmfZKn

[hyphin @hyphinlol]

@RNR_0 imagine trying to convince someone with an iq higher than 80 to buy "ansems cat" on solana

no amount of ct retards taking a contrarian stance on this garbage will ever make it make sense to a sane person

[hyphin @hyphinlol]

@rektober short it on @dominationfi

[hyphin @hyphinlol]

base is down again

[hyphin @hyphinlol]

build on base

[hyphin @hyphinlol]

build on base

[hyphin @hyphinlol]

@Tradermayne like: sepa withdrawals, reliable for business use, good ux

dislike: fees, low liquidity for some pairs or not listed at all, usdc defi aprs seem very inconsistent

[hyphin @hyphinlol]

@Jeremybtc im sure that if L2s can offer something genuinely useful and prioritize sequencer fees not grift with overvalued tokens then things would be great

but incentivizing use without a token is pretty hard so thats a whole other conversation

[Trading Strategy @TradingProtocol]

DomFI USDC Domination Finance vault on Base.

The vault is currently yielding 1%, but was only launched couple of weeks ago.

This new AMM liquidity provider vault by @dominationfi serves as the sole counterparty within Domination Finance, a perpetual futures exchange where traders take leveraged positions on dominance indices — each asset's share of total crypto market capitalisation.

The protocol has three participants: traders, liquidity providers (LPs), and the oracle. Traders deposit USDC as collateral and open leveraged positions on dominance pairs. LPs deposit USDC into a shared vault that acts as the counterparty to every trade — when traders profit, the vault pays; when traders lose, the vault collects. The oracle computes dominance from weighted exchange price feeds across the top 200 cryptocurrencies and publishes verified values on-chain.

Funding is a continuous per-block payment between longs and shorts. The side with more open interest pays the side with less. The rate scales with the size of the imbalance — bigger skew means higher funding. This mechanism incentivises balanced open interest and anchors perpetual prices to the oracle index.

https://t.co/ej1Ltriixy

[hyphin @hyphinlol]

@CryptoYieldGuy @pear_protocol @derteil00 @Lighter_xyz @variational_io check out @dominationfi

good spot to bet on usdtdom while bitcoin bleeds and points aren’t as diluted

[hyphin @hyphinlol]

@RaminNasibov

[hyphin @hyphinlol]

@greenytrades solid pattern

[hyphin @hyphinlol]

@LSDinmycoffee @maruushae subtle reminder to always use fallbacks

[hyphin @hyphinlol]

@DevKhabib incredibly useful metric, detailed some related higher level dynamics here

https://t.co/J15tElj4d7

[On Chain Times @onchaintimes]

https://t.co/vx1BeNHq71

[hyphin @hyphinlol]

@onchaintimes dominance up and the asset mogs, dominance down and the asset gets mogged

that’s all there is to it