rsETH withdrawals are now live.
Bridging and claims are active too, as part of the coordinated restart plan.
Exchange rates will be updated around 4:30pm CET on May 15th, along with eigen claims. This should reflect all staking rewards accrued to rsETH holders during the pause.
Kelp and Aave have successfully completed a series of steps for rsETH backing, including burning the exploiter’s rsETH on Arbitrum.
117,132 rsETH will be progressively refilled from Aave Recovery Guardian and Kelp Recovery Safe into the LayerZero OFT adapter on mainnet over the
Kelp confirms it has fulfilled its pledged contribution to the recovery fund.
Post April 18, DeFi United led by @aave has defined the path to restore rsETH backing and return markets to normal operation.
We appreciate the support from our partners @Mantle_Official@Consensys
The folks at @otomato_xyz delivered notifications for Contango v2!
You can now enable different notifications via otomato.xyz, such as:
→ health factor dropping
→ APYs flipping negative
→ X account tweeting
100% recommended.
Introducing the Otomato app
After 2,000+ users on Telegram, we built the app we all wished existed:
Actionable alerts that tell you when to act BEFORE it's too late:
- Protocol security incidents
- Liquidation warnings
- Position out of range
- Limit orders filled
- Airdrop
⚠️ Trading on leverage carries significant risk. This is not financial advice.
Contango builds positions on variable rate markets. If you don’t understand its mechanics, refrain from trading or staking, and read: docs.contango.xyz
Contango worked with Pablo from @_SEAL_Org and @opsek_io to tighten our security practices already in 2024.
Both users and protocols need to put OpSec on their audit checklist NOW.
Just use Pablo.
The threat landscape has fundamentally shifted. Every company shipping needs to level up their Operational Security NOW.
Axios, Resolv Labs, Drift Protocol, LayerZero + Kelp, Vercel, Lovable, CoW Swap, Zerion, Silo Finance: all compromised in the last few weeks.
This is not a
⚠️ Trading on leverage carries significant risk. This is not financial advice.
Contango builds positions on variable rate markets. If you don’t understand its mechanics, refrain from trading or staking, and read: docs.contango.xyz
Update on rsETH incident:
WETH reserves on the Ethereum Core V3 market have been unfrozen and users can supply WETH to Ethereum Core V3 again. WETH LTV remains at 0.
WETH reserves on Ethereum Prime, Arbitrum, Base, Mantle, and Linea remain frozen.
Aave service providers will
Following the rsETH/LayerZero exploit, Contango v2 continues to operate normally, with limited functions for the affected markets.
Frozen markets on @aave still allow users to repay debt and close loops. Reach out on Discord if you need help managing your positions.
⚠️ Trading on leverage carries significant risk. This is not financial advice.
Contango builds positions on variable rate markets. If you don’t understand its mechanics, refrain from trading or staking, and read: docs.contango.xyz
Earlier today we identified suspicious cross-chain activity involving rsETH. We have paused rsETH contracts across mainnet and several L2s while we investigate.
We are working with @LayerZero_Core, @unichain, our auditors and top security experts on RCA.
We will keep you
Euler is aware of the recent security incident involving Kelp DAO’s rsETH.
As a precaution, Ethereum mainnet and Linea were paused to prevent the affected assets being used as collateral. Both have now been unpaused.
We are actively monitoring the situation and will update
The rsETH markets on Aave V3 and Aave V4 have been frozen. Aave's contracts have not been exploited and this is an exploit related to rsETH.
The freeze follows an exploit of the Kelp DAO rsETH bridge. Freezing the rsETH markets prevents new deposits and borrowing against rsETH
⚠️ Trading on leverage carries significant risk. This is not financial advice.
Contango builds positions on variable rate markets. If you don’t understand its mechanics, refrain from trading or staking, and read: docs.contango.xyz
ynRWAx/USDC is live on @Contango_xyz
Looping $ynRWAx even got a lot simpler.
Contango automates the full borrow → swap → re-deposit cycle into one transaction using flash loans on top of Morpho and Euler.
Pick your leverage, confirm, done.
Use the search bar to find
Currently, our 3rd biggest loop by open interest is sAVAX.
Looping it on @aave currently earns you ~18% ROE.
But how did this performed over time?
Our intern put his skin in the game for y'all. 👇
