Seneca Exploit - Post Mortem
TL:DROn Wednesday, 28th of February, Seneca's Chamber contracts, previously audited by Halborn Security, were affected by a bug approval and users' funds were compromised. In the attack, Seneca’s Chamber.sol contract was implicated. The attacker exploited Chamber's performOperations() function, allowing calls to functions in other contracts, and directed a call to .transferFrom(), using the Chamber contracts to send tokens to their address. $6,4m were stolen during the attack, ...
Seneca Exploit - Post Mortem
TL:DROn Wednesday, 28th of February, Seneca's Chamber contracts, previously audited by Halborn Security, were affected by a bug approval and users' funds were compromised. In the attack, Seneca’s Chamber.sol contract was implicated. The attacker exploited Chamber's performOperations() function, allowing calls to functions in other contracts, and directed a call to .transferFrom(), using the Chamber contracts to send tokens to their address. $6,4m were stolen during the attack, ...
Staking and Deployment Pipeline
Protocol Infrastructure and Deployment PipelineIn order to ensure maximum safety and transparency for Seneca's ecosystem, steps have been taken and will further take place for the protocol infrastructure. Through careful assessment in collaboration with advisors, independent security experts, and partner protocols, a revised deployment pipeline has been planned, consisting of additional security reviews and measures for the protocol. Peer review and independent consultations are taking p...
Staking and Deployment Pipeline
Protocol Infrastructure and Deployment PipelineIn order to ensure maximum safety and transparency for Seneca's ecosystem, steps have been taken and will further take place for the protocol infrastructure. Through careful assessment in collaboration with advisors, independent security experts, and partner protocols, a revised deployment pipeline has been planned, consisting of additional security reviews and measures for the protocol. Peer review and independent consultations are taking p...
How Seneca Is Evolving The DeFi Lending Model To Bring Leverage To The Masses
TL;DRIn TradFi markets, the way leverage is structured is stacked in favor of major financial institutions, preventing everyday people from accessing its full benefits.Meanwhile, existing DeFi lending products are inflexible and risky with unsustainable financial models.Seneca’s CDP lending protocol provides flexible, yield-bearing collateral options and isolated lending pools that overcome these challenges, delivering greater capital efficiency and minimizing risk.This allows Seneca to bring...
How Seneca Is Evolving The DeFi Lending Model To Bring Leverage To The Masses
TL;DRIn TradFi markets, the way leverage is structured is stacked in favor of major financial institutions, preventing everyday people from accessing its full benefits.Meanwhile, existing DeFi lending products are inflexible and risky with unsustainable financial models.Seneca’s CDP lending protocol provides flexible, yield-bearing collateral options and isolated lending pools that overcome these challenges, delivering greater capital efficiency and minimizing risk.This allows Seneca to bring...
Introducing Seneca: The First DeFi Lending Protocol To Unlock The Multi-Billion Dollar Value Of A Full Range Of Yield-Bearing Assets
TL;DRSeneca is a Collateralized Debt Position protocol that allows users to use Yield-Bearing Assets (YBAs) as collateral for borrowing senUSD, which is Seneca’s native stablecoin.By unlocking the value of YBAs including LSTs, LP tokens, Deposit Receipts, Principal Tokens, and more, Seneca can become the top source of credit in DeFiSeneca allows you to borrow against these assets whilst continuing to earn yields on them, thereby unlocking the full value of multiple underserved multi-billion d...
Introducing Seneca: The First DeFi Lending Protocol To Unlock The Multi-Billion Dollar Value Of A Full Range Of Yield-Bearing Assets
TL;DRSeneca is a Collateralized Debt Position protocol that allows users to use Yield-Bearing Assets (YBAs) as collateral for borrowing senUSD, which is Seneca’s native stablecoin.By unlocking the value of YBAs including LSTs, LP tokens, Deposit Receipts, Principal Tokens, and more, Seneca can become the top source of credit in DeFiSeneca allows you to borrow against these assets whilst continuing to earn yields on them, thereby unlocking the full value of multiple underserved multi-billion d...
Unleashing the Power of LP Tokens: Seneca Protocol Expands Capital Efficiency in DeFi
Building for the Inevitable Mass Adoption Phase: Navigating the Deceptively Busy DeFi IndustryNewton’s Third Law of Motion says that for every action, there’s an equal and opposite reaction. And while Newton wasn’t an expert on DeFi, his law holds true in today’s deceptively busy industry. If you look at the price charts of most major altcoins, and even most TVL charts, you’d think DeFi was dead. But under the surface, we’re building for the inevitable mass adoption phase to come.Decentralize...
Unleashing the Power of LP Tokens: Seneca Protocol Expands Capital Efficiency in DeFi
Building for the Inevitable Mass Adoption Phase: Navigating the Deceptively Busy DeFi IndustryNewton’s Third Law of Motion says that for every action, there’s an equal and opposite reaction. And while Newton wasn’t an expert on DeFi, his law holds true in today’s deceptively busy industry. If you look at the price charts of most major altcoins, and even most TVL charts, you’d think DeFi was dead. But under the surface, we’re building for the inevitable mass adoption phase to come.Decentralize...
