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...
Raft will voyage again
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Ahoy, Rafters!
Welcome to our first monthly update, where we'll share the exciting progress and achievements in the Raft ecosystem since our launch on June 5th, 2023.
Every week has brought us closer to significant milestones, and we're thrilled to have you on this journey with us.
Let's dive into the highlights
We're proud to announce that Raft's Total Value Locked (TVL) has exceeded $65 million, and the market capitalization for our R stablecoin has surpassed $33 million.
These milestones demonstrate the growing trust and adoption of Raft within the DeFi space.
The number of R holders has grown to more than 267 over the last few weeks.
Raft holds a 10% market share out of the $650m LSDFi market. Check out DeFi Mochi’s dashboard.
At Raft, we prioritize decentralization, transparency, and community involvement.
To facilitate this, we launched the Raft governance forum, where community members can actively participate in discussions, propose ideas, and contribute to shaping the future of Raft.
We're thrilled to see multiple proposals and ongoing discussions within the forum.
Open an account and have your say in the future of Raft.
In line with our commitment to robustness and versatility, we successfully approved the proposal to add rETH as collateral, making R a multi-collateralized stablecoin supported by both stETH and rETH.
This expansion strengthens the stability and resilience of the Raft protocol.
The increasing popularity of R has led to significant growth in liquidity pools on platforms like Balancer and Maverick.
For example, the R/DAI pool on Balancer has witnessed a remarkable trading volume of nearly $1.9 million in the last 24 hours.
To provide our users with reliable and transparent data, we have integrated with industry-leading oracle providers, Chainlink and Tellor.
This integration enhances the security and trustworthiness of Raft's data feeds, ensuring a robust foundation for our ecosystem.
Join the Raft guild today and discover exclusive roles available for R generators and holders. You can also collect your Galxe OAT if you have the “R HoldeR” role on Discord.
Additionally, stETH and rETH holders can claim their respective roles on our Discord server by joining the Raft Guild.
Stay engaged with the Raft community, participate in discussions, and enjoy exclusive benefits.
Our founder, David Garai will be speaking at Stable Summit in Paris.
We've had the privilege of being featured in various media outlets and participating in insightful discussions.
Highlights include:
Congratulations to our grant recipients who have contributed to the Raft ecosystem through the Zapper integration and the creation of Dune Analytics Dashboards. Check the dashboards here:
We have more 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!
Ahoy, Rafters!
Welcome to our first monthly update, where we'll share the exciting progress and achievements in the Raft ecosystem since our launch on June 5th, 2023.
Every week has brought us closer to significant milestones, and we're thrilled to have you on this journey with us.
Let's dive into the highlights
We're proud to announce that Raft's Total Value Locked (TVL) has exceeded $65 million, and the market capitalization for our R stablecoin has surpassed $33 million.
These milestones demonstrate the growing trust and adoption of Raft within the DeFi space.
The number of R holders has grown to more than 267 over the last few weeks.
Raft holds a 10% market share out of the $650m LSDFi market. Check out DeFi Mochi’s dashboard.
At Raft, we prioritize decentralization, transparency, and community involvement.
To facilitate this, we launched the Raft governance forum, where community members can actively participate in discussions, propose ideas, and contribute to shaping the future of Raft.
We're thrilled to see multiple proposals and ongoing discussions within the forum.
Open an account and have your say in the future of Raft.
In line with our commitment to robustness and versatility, we successfully approved the proposal to add rETH as collateral, making R a multi-collateralized stablecoin supported by both stETH and rETH.
This expansion strengthens the stability and resilience of the Raft protocol.
The increasing popularity of R has led to significant growth in liquidity pools on platforms like Balancer and Maverick.
For example, the R/DAI pool on Balancer has witnessed a remarkable trading volume of nearly $1.9 million in the last 24 hours.
To provide our users with reliable and transparent data, we have integrated with industry-leading oracle providers, Chainlink and Tellor.
This integration enhances the security and trustworthiness of Raft's data feeds, ensuring a robust foundation for our ecosystem.
Join the Raft guild today and discover exclusive roles available for R generators and holders. You can also collect your Galxe OAT if you have the “R HoldeR” role on Discord.
Additionally, stETH and rETH holders can claim their respective roles on our Discord server by joining the Raft Guild.
Stay engaged with the Raft community, participate in discussions, and enjoy exclusive benefits.
Our founder, David Garai will be speaking at Stable Summit in Paris.
We've had the privilege of being featured in various media outlets and participating in insightful discussions.
Highlights include:
Congratulations to our grant recipients who have contributed to the Raft ecosystem through the Zapper integration and the creation of Dune Analytics Dashboards. Check the dashboards here:
We have more 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!
New podcast alert 
What is @raft_fi Soft and Hard peg mechanisms Pros of @raft_fi
Deus Ex DAO · Episode
New podcast alert What is @raft_fi Soft and Hard peg mechanisms Pros of @raft_fi
Deus Ex DAO · Episode
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