RisedleCAKERISE & CAKEDROP are live on Risedle
Today, we launched CAKERISE and CAKEDROP, the first leveraged tokens built on top of Fuse that is maintained by Midas Capital on BNB Smart Chain. CAKERISE and CAKEDROP are derivatives products with no margin or liquidation risks. It provides you with leveraged long and short exposure to the CAKE token, which may amplify profitability and potential losses:If CAKE price goes up 5% 🟢, then:CAKERISE price will up 10% 🟢CAKEDROP price will down 10% 🔴If CAKE price goes down 5% 🔴, then:CAKERISE p...
RisedleSupercharged Web3 Trading Experience
You may notice that the current DeFi ecosystem is developed in silo, where every protocol compete to get the highest liquidity or usage by using token incentives. This competition created a misaligned incentives model that leaves a lot of token to go into death spiral, bleed to dry and race to zero fees.It’s all never-ending death spiralComposability has been discussed endlessly but yet we only see small number of projects that focused on this area. Everyone is trying to become the new primit...
RisedleFebruary Development Update
Hi again from the core team at Risedle! We’ve got a lot of updates to share, so let’s get started.Better Product DocumentationWe have revamped Risedle’s documentation site. Previously we used a notion page for the documentation. There is no clear site navigation and full text search functionality built in. Then we move the documentation to gitbook. It has the best navigation and full text search functionality.Clear guideIn the new docs we focus on explaining Risedle’s products instead of the ...
The DeFi Interface of Arbitrum
RisedleCAKERISE & CAKEDROP are live on Risedle
Today, we launched CAKERISE and CAKEDROP, the first leveraged tokens built on top of Fuse that is maintained by Midas Capital on BNB Smart Chain. CAKERISE and CAKEDROP are derivatives products with no margin or liquidation risks. It provides you with leveraged long and short exposure to the CAKE token, which may amplify profitability and potential losses:If CAKE price goes up 5% 🟢, then:CAKERISE price will up 10% 🟢CAKEDROP price will down 10% 🔴If CAKE price goes down 5% 🔴, then:CAKERISE p...
RisedleSupercharged Web3 Trading Experience
You may notice that the current DeFi ecosystem is developed in silo, where every protocol compete to get the highest liquidity or usage by using token incentives. This competition created a misaligned incentives model that leaves a lot of token to go into death spiral, bleed to dry and race to zero fees.It’s all never-ending death spiralComposability has been discussed endlessly but yet we only see small number of projects that focused on this area. Everyone is trying to become the new primit...
RisedleFebruary Development Update
Hi again from the core team at Risedle! We’ve got a lot of updates to share, so let’s get started.Better Product DocumentationWe have revamped Risedle’s documentation site. Previously we used a notion page for the documentation. There is no clear site navigation and full text search functionality built in. Then we move the documentation to gitbook. It has the best navigation and full text search functionality.Clear guideIn the new docs we focus on explaining Risedle’s products instead of the ...
The DeFi Interface of Arbitrum
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Around 30 days ago, we experienced exploit that caused by profanity attack as discovered by 1inch in this article: A vulnerability disclosed in Profanity, an Ethereum vanity address tool.
Similar cases:
Dappnode $165k exploit, private key generated using fork of Profanity
Rubic $200k exploit, admin private key compromised
We had anticipated the potential exploit before by moving on some of the internal wallet and deployer however unfortunately we missed 2 wallets that was being used as initial minter/tester for FLT contracts on Binance Smart Chain.
Currently all FLT contract deployed on Binance Smart Chain are not within our control but luckily due to our security design, exploiter can’t access the existing minted FLT token since our contract doesn’t control the FLT token directly. Even FLT contract owner cannot steal the users fund. All user’s fund are safe and the lost is only within Risedle controlled wallet.
The exploit only affect our FLT product on BSC, the old version of leveraged token on Arbitrum is safe
We estimate to lose around 1600 BUSD to this profanity attack.
Below are the exploited wallets:
We also advise anyone that still holding FLT on BSC to redeem back into BUSD as soon as possible. We also can’t determine whether we will redeploy the current FLT token at BSC anytime soon.
Please contact us on discord if you have any problem with the redeem process.
What we have learned from this incident that we still lack of our wallet monitoring tool. Currently only main dev wallet are monitored. We will fix this in the future.
Stay safe frens.
Around 30 days ago, we experienced exploit that caused by profanity attack as discovered by 1inch in this article: A vulnerability disclosed in Profanity, an Ethereum vanity address tool.
Similar cases:
Dappnode $165k exploit, private key generated using fork of Profanity
Rubic $200k exploit, admin private key compromised
We had anticipated the potential exploit before by moving on some of the internal wallet and deployer however unfortunately we missed 2 wallets that was being used as initial minter/tester for FLT contracts on Binance Smart Chain.
Currently all FLT contract deployed on Binance Smart Chain are not within our control but luckily due to our security design, exploiter can’t access the existing minted FLT token since our contract doesn’t control the FLT token directly. Even FLT contract owner cannot steal the users fund. All user’s fund are safe and the lost is only within Risedle controlled wallet.
The exploit only affect our FLT product on BSC, the old version of leveraged token on Arbitrum is safe
We estimate to lose around 1600 BUSD to this profanity attack.
Below are the exploited wallets:
We also advise anyone that still holding FLT on BSC to redeem back into BUSD as soon as possible. We also can’t determine whether we will redeploy the current FLT token at BSC anytime soon.
Please contact us on discord if you have any problem with the redeem process.
What we have learned from this incident that we still lack of our wallet monitoring tool. Currently only main dev wallet are monitored. We will fix this in the future.
Stay safe frens.
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