While there's still more work to be done, this marks a very important moment for Loopscale. Recovering user funds has been our priority from the moment of the incident.
The responsiveness and speed with which the entire ecosystem rallied to support our efforts was absolutely
Following successful negotiations, all funds taken from the Loopscale protocol (5,726,725 USDC + 1,211 SOL) on April 26th have now been returned.
Users will incur no loss of deposits from this incident. Additional details (including information on vault withdrawals) to follow.
Been a wild last few months shipping this thing from 0 -> 1
On-chain credit is moving into a new phase and it's incredible to be building a piece of that future.
Come check it outπ
LFLoop π
Loopscale is now live after 6 months in closed beta.
Modular, order book-based DeFi lending markets. $750M+ in loan volume. 50,000+ waitlisted users.
Built on @solana and backed by CoinFund, Solana Ventures, Coinbase Ventures, Jump, and Room40.
Very grateful for all the support from the ecosystem over the past few weeks getting us to this point. We're very excited to keep building toward a better future for credit and the broader onchain economy.
Excited for the week in NYC.
Accelerate.
#LFLoop
This is great news for you PT-fragSOL loopers on Loopscale.
More liquidity == better loop execution price == better rates on your loops. Still three months to go on this one!
Congrats to the @xStocksFi team on this awesome product and excited to support with Loopscale! Very exciting to see real tokenized assets moving more quickly on chain.
There are a number of things to consider in the safety of these assets as collateral that required us to make
Tokenized stocks from @xStocksFi are now live on Loopscale.
Use xStocks - and @orca_so xStock LPs - as collateral, or go long or short xStocks with new Loops.
Equities on Solana meet the power of Loopscale's modular lending markets.
Here's what's possible β¬οΈ
the introduction of Loopscale's Atomic Loan Action architecture
flash loan-esque actions across repay, borrow, withdraw and topup
this allows more complex combinations of order book ixs paired with external actions, bullish composable, complex lending on Solana
Loopscale users can now roll over PT loops to the next maturity, starting with @ExponentFinance PT-fragSOL-10JUL25 (matured at 3pm UTC).
Rollovers make Loopscale the best place to lever fixed yields: Earn yield to the next maturity without closing your Loop.
For best rates,
New Yield Loops for @ExponentFinance are now live on Loopscale.
With one click, loop and leverage yields from Exponent's fixed-rate SOL tokens:
β’ PT-fragSOL / SOL β 66.4% APY at 4x leverage
β’ PT-kySOL / SOL β 50.5% APY at 4x leverage