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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Oars up, Rafters! 🌊
Welcome back to another edition of our monthly newsletter where we'll sail through all the progress and achievements at Raft during July 2023.
Let’s dive in straightaway!
We’re happy to share that Raft’s Total Value Locked (TVL) has continued to remain above the $50 million mark, with the market capitalization of our R stablecoin reaching $30m.
R has been live for less than 2 months, and the stats, when compared to its competitors, look like this:
We now have 515 holders of R. Number go up only!
The Raft Governance Forum is live and a lot of proposals have been submitted over the past two months. Here’s a snapshot of our forum.
Open an account and have your say in the future of Raft.
LPs in the R/DAI <> sDAI boosted pool will soon be able to benefit from the DAI Savings Rate (DSR) 3.49% yield while continuing to provide users with the ability to swap between R and DAI.
Incentives in the $R / $DAI pool now account for 6.87% of all $BAL emissions!
Say bye-bye to manual folding and welcome one-step leverage (OSL) on Raft! All stETH and wstETH holders who have been leveraging their staking rewards can maximize their returns by up to 6x using OSL.
The Raft team was present at Stable Summit and EthCC meeting our existing partners and exploring exciting collaborations with potential partners.
Our CEO, David, gave a demo on how to use Raft’s One-Step Leverage (OSL) at Stable Summit.
David also joined a panel discussion on how to build a truly censorship-resistant stablecoin. 💪
We had a lot of cool swags to offer and some fun games to play at the booth!
Over the past month, we’ve been a part of several Twitter Spaces where we dived deep into Raft and also spoke about the LSDFi landscape on many panels.
Check out some of the Twitter Spaces last month.
Join the Twitter Space @ 8pm UTC on 3 July
By the way, DeFiLlama is now tracking R
We have several grants available for anyone who wants to be a part of this growing ecosystem
As we continue to navigate the exciting landscape of DeFi, Raft remains committed to innovation, community involvement, and building a robust ecosystem.
We invite you to stay tuned for more updates, engage with our vibrant community, and be part of shaping the future of Raft.
Thank you for being an integral part of our journey!
Oars up, Rafters! 🌊
Welcome back to another edition of our monthly newsletter where we'll sail through all the progress and achievements at Raft during July 2023.
Let’s dive in straightaway!
We’re happy to share that Raft’s Total Value Locked (TVL) has continued to remain above the $50 million mark, with the market capitalization of our R stablecoin reaching $30m.
R has been live for less than 2 months, and the stats, when compared to its competitors, look like this:
We now have 515 holders of R. Number go up only!
The Raft Governance Forum is live and a lot of proposals have been submitted over the past two months. Here’s a snapshot of our forum.
Open an account and have your say in the future of Raft.
LPs in the R/DAI <> sDAI boosted pool will soon be able to benefit from the DAI Savings Rate (DSR) 3.49% yield while continuing to provide users with the ability to swap between R and DAI.
Incentives in the $R / $DAI pool now account for 6.87% of all $BAL emissions!
Say bye-bye to manual folding and welcome one-step leverage (OSL) on Raft! All stETH and wstETH holders who have been leveraging their staking rewards can maximize their returns by up to 6x using OSL.
The Raft team was present at Stable Summit and EthCC meeting our existing partners and exploring exciting collaborations with potential partners.
Our CEO, David, gave a demo on how to use Raft’s One-Step Leverage (OSL) at Stable Summit.
David also joined a panel discussion on how to build a truly censorship-resistant stablecoin. 💪
We had a lot of cool swags to offer and some fun games to play at the booth!
Over the past month, we’ve been a part of several Twitter Spaces where we dived deep into Raft and also spoke about the LSDFi landscape on many panels.
Check out some of the Twitter Spaces last month.
Join the Twitter Space @ 8pm UTC on 3 July
By the way, DeFiLlama is now tracking R
We have several grants available for anyone who wants to be a part of this growing ecosystem
As we continue to navigate the exciting landscape of DeFi, Raft remains committed to innovation, community involvement, and building a robust ecosystem.
We invite you to stay tuned for more updates, engage with our vibrant community, and be part of shaping the future of Raft.
Thank you for being an integral part of our journey!
11th July, 5PM CEST
Liquid Dialogues Ep 5
DeFi Download
11th July, 5PM CEST
Liquid Dialogues Ep 5DeFi Download
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