Pat Heggie

Update on Tydro Markets: Tydro was notified by Chaos Labs that they had experienced an attack with patterns similar to that of a nation state attacker on May 4th and were advised by Chaos Labs to pause all markets until further information was available. No bad prices were pushed to the market prior to, or during, the market pause and no user positions were impacted. Immediate efforts were made to onboard new oracle providers, and the Tydro team worked with @chainlink and @redstone_defi to get new push feeds available on Ink asap. Approximately 48 hours after the initial warning, the Tydro team was given confirmation by Chaos Labs that the keys had been rotated and that an unpause was possible. Out of an abundance of caution the decision was made to keep the markets paused until another push oracle was available for Tydro. The path forward: Once the @chainlink migration is complete we will update the feeds. This change has a 48 hour timelock and an exact unpause time will be provided in UTC once the transaction is executed. At the time of unpause, a grace period of 4 hours will be implemented. During this time, borrowers who may have positions with a Health Factor below 1 will be able to repay loans or add additional collateral without risk of liquidation. Additionally, before the market is unpaused Tydro and its service providers will assess all user positions and determine if any changes to market parameters are needed to help manage any positions that may have become unhealthy. Based on our preliminary analysis this should not be necessary but we will continue to monitor the situation. Please manage your positions accordingly and stay tuned for the unpause time. A full analysis, with plans for oracle hardening and multi-oracle redundancy, will be shared.

Watched it back and I still don't get it. I'd love to see the script for this because it's shocking how much this makes absolutely no sense. #Corrie