Summary
No user funds lost. A critical vulnerability was discovered in Primitive Finance smart contracts that would allow all funds to be stolen from Primitive Finance users according to their token allowances. There were 88 potential victims, most with infinite approvals for important tokens, such as WETH or DAI, and…
A critical vulnerability was discovered in Primitive Finance smart contracts. As the contract is not upgradeable or pausable, we chose to whitehack our own smart contracts to safeguard user funds.
WHITEHACKED FUNDS ARE SAFE. ALL WHITEHACKED FUNDS WILL BE RETURNED TO THEIR OWNERS.
TOKENS IN WALLET which have approved the…
As decentralized financial markets mature, the layers that form grow larger than their predecessor. It’s visible right now, with lending protocols and asset managers leading the Total Value Locked (TVL) in DeFi. However, derivative protocols are so early that they barely make a dent in the total value moving through…
The protocol’s first option market successfully concluded, signalling the first step over the starting line. The next option markets have already been deployed, and V2 development has started.
The tokens living on Ethereum are a spectrum of ownership: from art to stablecoins to entire decentralized protocols. These tokens have markets to facilitate swapping, borrowing, and lending, which lay the foundation for the next large markets: derivatives. …
For the past few weeks we have been testing the contracts and optimizing their gas usage. In the process of this, we noticed that by reorganizing the logic in the exercise function, we can enable flash exercises.
Vanilla options are often never exercised because it uses the option. The option…
The ERC-20 standard is powerful for a few reasons, but one of them is how easy it is to build liquidity around. These tokens are plugged into liquidity models with ease, and what we get is a more liquid market that is better for all parties. …
At 11:30 A.M. we announced our alpha release. Two hours later, we discovered a bug.
In Greek mythology, the Titan Prometheus steals fire from the Gods and brings it to Earth’s humanist civilization. Also accredited with molding humanity from clay, the rebellious Titan was eternally punished for his theft of fire. However, with fire, humans could extend their civilization beyond their clay limitations and into…
