ʎqɹoƃ.eth

Alchemix v3 is my team’s and my magnum opus. We spent over two years researching, modeling, and developing it before even going to audit. It is a new economic model that has never seen before innovation enabling the best that DeFi can offer, as far as I know. No where else can you get the value proposition that v3 delivers. We spent over the last year undergoing several rigorous audits by @cantinasecurity @spearbit @immunefi @yAuditDAO @Nethermind @alpeh_v and many AI audit products, along with ongoing monitoring by @HypernativeLabs, an @immunefi bug bounty program, and continued support from other security friends in the space. We care deeply about securing YOUR funds and hope that, even in light of the recent string of DeFi exploits, that we can earn your trust. Now the the kelpDAO/Aave situation has been stabilized thanks to the herculean efforts of DeFi United, and we have had around two weeks of limited caps and some precautionary measures related to the Aave markets, we feel confident that the system is working as intended and that it is safe to open things up. Deposit caps for CDPs and the Transmuter (for alUSD/alETH redemptions) will be opened up within the next 24 hours. In the meantime, I encourage you to listen to the Edge podcast to learn all about the system we made and how it can transform your finances.

A victim just lost a Alchemix Yearn yvVault position $yvWETH (estimated $~1m), from an earlier approval to an unverified contract (etherscan.io/address/0x143a…). This unverified contract, created 10 days ago, turns out to be buggy and can be exploited for arbitrary call execution. Here is the vulnerable logic from the decompiled contract, affected in the following exploit tx: etherscan.io/tx/0xebaaab69b…

One of the strangest features of modern politics is watching supposedly serious people melt down over the fact that some of this is objectively funny. A @UFC fight on the @WhiteHouse lawn is ridiculous, theatrical, and exactly the kind of thing that exposes how unbearably self-important our political culture has become. You do not have to approve of every stunt to recognize that the people who act like public life must always be managed by humorless hall monitors are part of the problem. Some of these trolls land because they reveal a deeper truth: a ruling class addicted to its own image is always one joke away from total collapse.

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V3 is live. The new UI is up, and all positions are fully migrated. We are purposefully launching with limited deposit caps so that we can verify everything is operating safely and smoothly. Caps lift Monday for full launch. alchemix.fi