Percent Finance

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: link.medium.com/pWd6sMgj9ab

@ChainLinkGod @compoundfinance @chainlink While Percent has had other issues, our integration with Chainlink has been rock solid #code" target="_blank" rel="nofollow noopener">etherscan.io/address/0x21a6…

Recently, ~$90M in user funds was falsely liquidated due to a failure of @CompoundFinance's centralized price feed I propose to the $COMP governance community that @Chainlink Price Feeds be integrated to fix this vulnerability from happening again chainlinkgod.medium.com/proposal-for-c…

Post-mortem of the Percent Finance money market incident percent-finance.medium.com/percent-financ…

Well done @DeBankDeFi, keep up the good work!

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.

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.

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.

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is that every user operation fails while trying to accrue interest, so assets in the 3 contracts cannot be supplied, withdrawn, borrowed, repaid, or seized.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

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: amazon.com/Infinite-Machi…

@phileomancer Thanks @phileomancer!

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: ethhub.substack.com/p/ethhub-weekl…

Upvotes on the @blockfolio token integration would be helpful as well. feedback.blockfolio.com/coin-requests/…

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 features.zapper.fi/feature-reques… Show us some love with a quick upvote?

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: gov.percent.finance/t/five-new-tok…

@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.

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!

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.