Isaac
665 posts
March farming update:
- made a little website (watanabe.capital), to track yields like:
- syzUSD loops from @YuzuMoney
- earnAUSD loop on @Curvance
- ezETH loop on @Curvance + hedge on @aave
- sUSDai depegs
- yzPP depegs
- QFEX-HL funding arbitrage
- Polymarket bond-like returns
- spread trades like long HYPE/ETHFI/BNB vs ETH/SUI (wip)
- besides whats on the website I've been looking at @re loops on Fluid
- currently working on automating trading on QFEX+Polymarket
- yields very dry
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This guy, the #1 LP on RLP liquidity, withdrew all RLP/USDC LP position on Fluid days before the Resolv incident, and exited by selling $RLP and $RESOLV immediately on CoWSwap/Binance respectively
Coincidence?
explorer.cow.fi/orders/0x0b0a4…
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@Crypto__Wizzard @ExcelBaller @CryptoEsq @VirtualQuery @twitt_tr it goes much deeper than just their memes.
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Starting a community fund to put AvaLabs insider traders in prison for a minimum of 5 years. @ExcelBaller and @CryptoEsq will be our legal consul and @VirtualQuery and @twitt_tr will find all on chain crime related to AvaLabs/Foundation employees with help and guidance from @zachxbt . All future press updates will come through @nobsfud. Thank you for your attention to this matter.
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a shared sentiment across much of the defi community
even though the outlook looks good for those affected, the Resolv exploit only further destroyed the already low morale in defi
Constant@0xderked
I'm in the process of withdrawing everything from defi You can only dodge so many bullets before you get one to the head Yield options consist of: - below tbill rates in places that can be hacked for total capital loss - vaults run by "curators" who make millions in fees but have the risk management of a toddler - offchain blackbox protocols that lend to GPUs, reinsurance, HELOCS, beanie babies, or whatever the fuck else for 10-20% max looped and you have to underwrite it's not completely fraudulent airdrops are cooked because everyone has learned tokens are completely worthless which means crypto as a money game is deader than dead right now protect your money and your sanity
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I'm in the process of withdrawing everything from defi
You can only dodge so many bullets before you get one to the head
Yield options consist of:
- below tbill rates in places that can be hacked for total capital loss
- vaults run by "curators" who make millions in fees but have the risk management of a toddler
- offchain blackbox protocols that lend to GPUs, reinsurance, HELOCS, beanie babies, or whatever the fuck else for 10-20% max looped and you have to underwrite it's not completely fraudulent
airdrops are cooked because everyone has learned tokens are completely worthless which means crypto as a money game is deader than dead right now
protect your money and your sanity
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ThalaSwap ranks #1 for USD1 yield across all chains.
44.68% APY on USD1/USDC - highest rate for @worldlibertyfi's stablecoin anywhere in DeFi.
Provide liquidity and stake your position ↓
app.thala.fi/pools
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Isaac retweetet
Members of @yieldsandmore were on top of usr exploit within 5 minutes meanwhile most risk curators, whose job is to manage risk, took around an hour to take action. In fact yam members were the ones alerting the risk curators to what was happening 🥀
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yoUSD deposits and withdrawals have resumed.
A temporary 2.95% withdrawal fee, aligned with the vault’s current RLP exposure, has been introduced as a precautionary measure to ensure fairness and maintain liquidity. Depositors who choose to withdraw will incur this fee, which goes directly back to the yoUSD vault and accrues to remaining depositors. The fee will remain in effect until there is clarity on RLP.
The vault was initially paused while we assessed the situation and has been reopened with the withdrawal fee to provide flexibility while preserving equitable treatment.
Updates to follow as we get more information.
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> be resolv
> raised $10,000,000 from vcs like coinbase
> farmed the community
> dropped an awful airdrop
> bad actor deposited $1,00,000
> minted $50,000,000 usr without backing
> he dumped usr and caused depeg
> now everything paused in resolv
> team investigating
> affected investors will be compensated
> looks like there will be a pre exploit snapshot
if you are holding anything other than usdt or usdc, be ready for anything
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Lot of opportunities to make money today with the Resolv exploit:
- Arb USR between Base <> Mainnet
- Buy depegged USR, use as collateral on fluid while it was hardcoded at $1, borrow more than the value of USR
- Short USR (borrow USR against other collateral, sell immediately, repay at lower price)
- Short RESOLV
- Short FLUID
Edge everywhere for those with the eyes to see.
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Earlier today, Resolv’s USR contract experienced an exploit where $50M Resolv USD (USR) was minted without corresponding backing.
Exposure is contained to approx $28k from the Haven Earn Vault on Plasma and the Balancer pool that rehypotecates there.
We will share additional updates as the team responds to the active situation
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@0xCryptoHarry @ResolvLabs @ResolvCore @_SEAL_Org @yieldsandmore Glad inverse acted on this relatively quickly. Saw their market being paused
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@3yield @ResolvLabs @ResolvCore @_SEAL_Org @yieldsandmore DOLA/wstUSR LP unwound, and DOLA peg back to where it was before: x.com/InverseFinance…
Inverse@InverseFinance
We are aware of the Resolv/USR exploit. At this time, Inverse Finance's exposure has been fully contained. A full account of what happened and where things stand: A compromised Resolv operator (to be confirmed) approved the minting of ~$80M USR against $200K in USDC collateral. USR depegged sharply, creating downward price pressure on the DOLA/wstUSR LP and a brief secondary DOLA depeg on DEX markets. The RWG acted swiftly in pausing the wstUSR-DOLA FiRM markets within 15 minutes of the initial exploit. FiRM had active borrowers carrying ~$10M in DOLA debt against looped wstUSR-DOLA LP positions. Liquidators brought these position to zero. Remaining bad debt: $340,060 DOLA. DOLA's broader collateral base is not materially affected. The $340K event is contained and will be covered. Resolv has paused all redemptions while developing recovery plans. We will continue to monitor as the situation develops.
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[EXPLOIT] @ResolvLabs @ResolvCore $USR seems to have been exploited for $50m
Due to a large wstUSR/DOLA LP, $DOLA has been depegged too
@_SEAL_Org @yieldsandmore
etherscan.io/tx/0xfe37f25ef…
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