Tender Finance

Billions of dollars are locked in crypto assets that cannot be collateralized, including tokens, LPs, vaults, and derivatives

Few productive opportunities exist for these assets even if they have a large market cap e.g. ADA, XRP, ALGO, DOGE Existing liquidation mechanisms cannot access off-chain liquidity, making it impossible to collateralize these assetsLiquidators can takeover loans in violation of margin requirements by depositing collateral and then liquidating off-chain

Liquidation triggers a dutch auction, with an escalating % discount on collateral value, prioritizing more efficient liquidators Liquidations can be conducted on-chain, like a standard DeFi lending market, but users of our protocol are given boosted discounts to resist MEV

$HAI hackenclub hackenai 🤩🤩

good shit, ~100k is a good payday

The latest update from the platform claims that a white hat hacker has made contact, and discussions are underway to recoup assets taken during the exploit.

Just read the post from crypto_gossiper that it has been recovered now.

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Source: Cointelegraph - 🏆 562. / 51 Read more »