Today in DeFi - yDAI Exploit, Synthetix Shorting, And More

yDAI Exploit

banteg @bantg

yDAI v1 vault vulnerability disclosure

github.comiearn-finance/yearn-securitySecurity contacts and disclosure reports. Contribute to iearn-finance/yearn-security development by creating an account on GitHub.

Yearn Finance’s V1 yDAI vault was exploited, losing about $11M.

“By creating exchange rate imbalances in Curve's 3pool, an exploiter was able to cause Yearn's yDAI vault to deposit and withdraw funds from 3pool at unfavorable rates across a series of transactions.”

Paolo Ardoino @paoloardoino

. @Tether_to just froze 1.7M USDt stolen as part of the hack of Yearn DAI v1 vault. More info here

yearn.finance @iearnfinance

We have noticed the v1 yDAI vault has suffered an exploit. The exploit has been mitigated. Full report to follow.

Tether has frozen funds associated with the exploit.

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Synthetix Shorting

Synthetix ⚔️ @synthetix_io

1) Yesterday Synthetix launched a new shorting mechanism, which also includes an SNX incentive — earn SNX for taking (currently) zero-interest shorts against sBTC and sETH!

Synthetix ⚔️ @synthetix_io

The Bellatrix release is now live including a new shorting incentive and UI for mullti-collateral loans. More information here: https://t.co/Sa6iLTGprE

Synthetix has a new incentive and mechanism for shorting BTC and ETH through sBTC and sETH. The reason behind this is to help neutralize the debt pool - which is heavily weighted long BTC and ETH.

Hetero Hegic Staking

hetoro @hetoroPlatform

Attention please! $HEGIC staking is now live on hetoro.com/stake

Hetero Options now has HEGIC staking.

Primitive Sushi

Primitive @PrimitiveFi

Sushi options available: $30 Call expiring September 24, 2021 $2.50 Put expiring September 24, 2021 ~$300k in liquidity across markets Ether options available: $5000 Call expiring September 24, 2021 $480 Put expiring September 24, 2021 ~$75k in liquidity across markets

Primitive Options has long dated SUSHI options.

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Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned