RaftRaft Security Incident: Post-Mortem Analysis and Recovery Plan
On 10 November 2023 at 18:59:23 UTC, Raft encountered a complex security incident, resulting in the minting of ~$6.7 million unbacked R, subsequently, the attacker sold R, causing R's depeg. A public announcement of the exploit was made on 10 November 2023 at 19:18 UTC.The IncidentExploit Transaction: https://etherscan.io/tx/0xfeedbf51b4e2338e38171f6e19501327294ab1907ab44cfd2d7e7336c975ace7 Raft Exploiter: https://etherscan.io/address/0xc1f2b71a502b551a65eee9c96318afdd5fd439fa Exploited ...
RaftSolvency Unlocked: Liquidations and Redistributions
In the thrilling world of decentralized finance, solvency and stability are the dynamic duo that guarantee user trust and adoption. Enter Raft, a decentralized lending protocol that allows people to take out stablecoin loans against capital-efficient collateral. Raft’s first stablecoin is called R and is backed exclusively by stETH (Lido Staked Ether). With its eyes set on becoming the number one stablecoin within the decentralized ecosystem, R relies on the powerful tag team of liquidations ...
RaftUnveiling Raft's LP Staking Mechanism
In our previous blog, we introduced RAFT tokenomics, providing a brief glimpse of how veRAFT fosters community engagement and long-term commitment. Let's dive deeper into veRAFT's mechanics and discover the benefits it offers to the community.RAFT Use CasesRAFT serves two primary functions within our ecosystem:Staking: RAFT token holders can provide liquidity into the RAFT/R 80:20 Balancer pool and stake their Balancer LP token (BPT) into the Raft staking contract for up to 24 month...
Raft will voyage again
RaftRaft Security Incident: Post-Mortem Analysis and Recovery Plan
On 10 November 2023 at 18:59:23 UTC, Raft encountered a complex security incident, resulting in the minting of ~$6.7 million unbacked R, subsequently, the attacker sold R, causing R's depeg. A public announcement of the exploit was made on 10 November 2023 at 19:18 UTC.The IncidentExploit Transaction: https://etherscan.io/tx/0xfeedbf51b4e2338e38171f6e19501327294ab1907ab44cfd2d7e7336c975ace7 Raft Exploiter: https://etherscan.io/address/0xc1f2b71a502b551a65eee9c96318afdd5fd439fa Exploited ...
RaftSolvency Unlocked: Liquidations and Redistributions
In the thrilling world of decentralized finance, solvency and stability are the dynamic duo that guarantee user trust and adoption. Enter Raft, a decentralized lending protocol that allows people to take out stablecoin loans against capital-efficient collateral. Raft’s first stablecoin is called R and is backed exclusively by stETH (Lido Staked Ether). With its eyes set on becoming the number one stablecoin within the decentralized ecosystem, R relies on the powerful tag team of liquidations ...
RaftUnveiling Raft's LP Staking Mechanism
In our previous blog, we introduced RAFT tokenomics, providing a brief glimpse of how veRAFT fosters community engagement and long-term commitment. Let's dive deeper into veRAFT's mechanics and discover the benefits it offers to the community.RAFT Use CasesRAFT serves two primary functions within our ecosystem:Staking: RAFT token holders can provide liquidity into the RAFT/R 80:20 Balancer pool and stake their Balancer LP token (BPT) into the Raft staking contract for up to 24 month...
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We are delighted to introduce a game-changing feature: One-Step Leverage (OSL).
This feature is designed to simplify your DeFi experience and amplify your earning potential. Let’s dive into more of the details.
One-Step Leverage is a novel feature allowing users to reach up to 6x leverage in a single transaction, allowing you to increase your potential earnings from your liquid staking derivatives (LSDs).
With OSL you can easily adjust or deleverage in just one click, providing you with greater flexibility and control over your collateral.
Existing Defi lending protocols require users to perform loops to achieve leverage by depositing collateral, swapping the borrowed asset for more collateral, and repeating over dozens of times to achieve the same leverage as OSL.
This presents obstacles such as operational complexities and frontrunning risks. OSL revolutionizes this by offering a streamlined and efficient path to leverage.
With OSL, you can boost your LSD yield to over 20% while benefiting from a 0% ongoing borrow interest rate with a super attractive 0.01% flash mint fee.
Additionally, OSL reduces gas fees compared to traditional methods because it only involves one swap rather than multiple swaps.
The OSL feature offers an array of benefits to all stakeholders:
For Liquid stakers: Increased trading volume on their LSD pools, and potential growth in LSD deposits.
For Borrowers: The expansion of the borrower base on Raft, which can absorb more redemptions and redistributions.
For Liquidity Providers (LPs): More R trading volume translates to increased trading fees.
You can try one-step leverage by clicking here.
Introducing One-Step Leverage is a testament to our dedication to innovation and user experience.
It is a giant leap forward in our mission to enhance the capital efficiency, user experience, and flexibility of DeFi lending.
Stay tuned as we roll out revolutionary features and improvements that keep Raft at the forefront of the DeFi lending space. Happy leveraging!!
Join our journey! Contribute to Raft's growth and apply for a Raft Grant.
From writing Twitter threads to developing frontend interfaces, your skills can help shape Raft's future.
Check our Grants page for more details and application guidelines. We can't wait to see your contributions!
Website: https://www.raft.fi/
Twitter: https://twitter.com/raft_fi
Discord: https://discord.com/invite/raft-fi
Telegram Channel: https://t.me/raft_fi
Telegram Group: https://t.me/raft
We are delighted to introduce a game-changing feature: One-Step Leverage (OSL).
This feature is designed to simplify your DeFi experience and amplify your earning potential. Let’s dive into more of the details.
One-Step Leverage is a novel feature allowing users to reach up to 6x leverage in a single transaction, allowing you to increase your potential earnings from your liquid staking derivatives (LSDs).
With OSL you can easily adjust or deleverage in just one click, providing you with greater flexibility and control over your collateral.
Existing Defi lending protocols require users to perform loops to achieve leverage by depositing collateral, swapping the borrowed asset for more collateral, and repeating over dozens of times to achieve the same leverage as OSL.
This presents obstacles such as operational complexities and frontrunning risks. OSL revolutionizes this by offering a streamlined and efficient path to leverage.
With OSL, you can boost your LSD yield to over 20% while benefiting from a 0% ongoing borrow interest rate with a super attractive 0.01% flash mint fee.
Additionally, OSL reduces gas fees compared to traditional methods because it only involves one swap rather than multiple swaps.
The OSL feature offers an array of benefits to all stakeholders:
For Liquid stakers: Increased trading volume on their LSD pools, and potential growth in LSD deposits.
For Borrowers: The expansion of the borrower base on Raft, which can absorb more redemptions and redistributions.
For Liquidity Providers (LPs): More R trading volume translates to increased trading fees.
You can try one-step leverage by clicking here.
Introducing One-Step Leverage is a testament to our dedication to innovation and user experience.
It is a giant leap forward in our mission to enhance the capital efficiency, user experience, and flexibility of DeFi lending.
Stay tuned as we roll out revolutionary features and improvements that keep Raft at the forefront of the DeFi lending space. Happy leveraging!!
Join our journey! Contribute to Raft's growth and apply for a Raft Grant.
From writing Twitter threads to developing frontend interfaces, your skills can help shape Raft's future.
Check our Grants page for more details and application guidelines. We can't wait to see your contributions!
Website: https://www.raft.fi/
Twitter: https://twitter.com/raft_fi
Discord: https://discord.com/invite/raft-fi
Telegram Channel: https://t.me/raft_fi
Telegram Group: https://t.me/raft
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