Yearn.finance (YFI) Still Down 15% After EMN Bug as Uncertainty Remains

2020-9-30 03:22

Yearn.finance (YFI) took a strong hit around 24 hours ago when a yet-to-launch project related to protocol experienced a bug. For those that don’t know, Andre Cronje, founder of Yearn.finance, deployed a series of new contracts relating to a new, still-to-launch game called Eminence Finance.

Eminence is slated to be an Ethereum-based card game with a focus on guilds.

Users, largely YFI holders, deployed capital into the Eminence contracts despite no official launch or website.

Unfortunately, there was a bug in the deployed contracts that allowed a user to withdraw $15 million worth of DAI from the contracts by putting in much less.

Many immediately sold their YFI after the bug was exploited for that $15 million. The coin remains down around 15-20% since the bug was exploited as there remains uncertainty in the market.

Related Reading: MicroStrategy’s Stock Continues to Soar After Bitcoin Purchase Yearn.finance (YFI) Still Down After EMN Imbroglio

Yearn.finance currently trades for $25,000, around 15% below the price the coin was at right before the bug was exploited.

The hack made some investors lose faith in YFI in the short term, presumably because it may suggest that there may be bugs in the other contracts the protocol uses.

Alex Kruger, an economist and analyst that has a focus on crypto, recently explained on his outlook on YFI:

“I don’t hold $YFI any longer. Do think it will recover – and make ATHs. Trust in founders matters, and Cronje simply made the $YFI trade more difficult. Will re-enter at some point, and trade it more actively (shorter time frames)…. At the time of the exploit Cronje’s involvement was unclear. Without his tweetstorm response, $YFI would have easily dumped another 30% fast. Regardless, if unable to appreciate the gross negligence involved, you have likely spent too much time in crypto.“

I don't hold $YFI any longer. Do think it will recover – and make ATHs. Trust in founders matters, and Cronje simply made the $YFI trade more difficult. Will re-enter at some point, and trade it more actively (shorter time frames). https://t.co/kUjQi4zLgc

— Alex (@classicmacro) September 29, 2020

Related Reading: Critical On-Chain Signal Predicts That Bitcoin’s Next Move Will Be Upward Not the End of the World

YFI may bounce back, though, as many aren’t convinced that this is the end of the world for the coin.

A co-founder of Real Vision just announced that he thinks now is a good time to deploy capital into YFI as it marks a good entry point from a longer-term perspective.

Related Reading: Ethereum Transaction Fees Surge to All-Time Highs After Uniswap Launch Photo by Daoud Abismail on Unsplash Price tags: yfiusd, yfibtc Charts from TradingView.com Yearn.finance (YFI) Still Down 15% After EMN Bug as Uncertainty Remains

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Wish Finance (WSH) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 WSH

finance yearn bug yfi new know andre

Источник: newsbtc.com

finance yearn → Результатов: 126


Цена yEarn Finance резко снизилась на фоне ухода основателя проекта Андре Кронье из индустрии

Старший архитектор решений Fantom Foundation Антон Нелл и ведущий DeFi-разработчик экосистемы, а по совместительству основатель yEarn Finance Андре Кронье решили покинуть криптовалютную индустрию. По его словам, они перестанут сотрудничать по 25 проектам, включая yEarn Finance, Multichain и недавно запущенную Solidly Exchange.

2022-3-8 11:22


Застрахованные пользователи yEarn.Finance получат возмещение убытков

Основатель DeFi-проекта yEarn. Finance Андре Кронье пообещал вернуть утраченные в результате хакерской атаки средства тем, кто приобрел страховой полис у партнеров Nexus Mutual и Cover Protocol. Для остальных пользователей вопрос пока остается открытым.

2021-2-9 17:36


Фото:

yEarn.Finance вслед за Pickle Finance поглотит Cream Finance

Основатель DeFi-проекта yEarn. Finance Андре Кронье представил детали интеграции с лендинговым протоколом Cream, работающим по модели проектов Compound и Aave. Об этом он заявил спустя два дня после объединения yEarn.

2020-11-26 17:26


Yearn Finance Consumes Pickle Without Governance Vote

The move follows a hack over the weekend that resulted in the loss of $20 million in stablecoins, however, the community had no say in the decision. Yearn Finance has partnered, or rather absorbed, Pickle Finance in an effort to increase rewards for stakers and reimburse some of the victims of the flash loan attack … Continued The post Yearn Finance Consumes Pickle Without Governance Vote appeared first on BeInCrypto.

2020-11-26 17:13


Фото:

Pickle Finance объединится с yEarn.Finance после потери $20 млн

Разработчики протокола децентрализованных финансов Pickle Finance объявили о слиянии с DeFi-проектом yEarn. Finance Андре Кронье. 🤝Yearn @iearnfinance & Pickle INTEGRATION🤝 Read more in this post from @AndreCronjeTech https://t.

2020-11-25 12:04


Фото:

Yearn.Finance и Pickle Finance объявили о слиянии

Руководство проекта децентрализованного финансирования Yearn.Finance решило протянуть руку помощи недавно взломанному Pickle Finance и объединиться. Это поможет компенсировать потери пользователям.

2020-11-25 10:57


Предложение Ethereum на рынке может упасть после запуска ETH-пула в yearn.finance

Аналитики ожидают, что запуск пула yETH популярным DeFi-проектом yearn. finance окажет положительное воздействие на рынок Ethereum. Инструмент поможет держателям эфира использовать свои монеты для автоматического вложения в наиболее доходные возможности, предоставляемые DeFi-проектами с поддержкой заработка токенов при помощи предоставления ликвидности.

2020-9-1 13:04


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Yearn.finance (YFI) surges 10% on v2 vault teaser

YFI soared 10% within an hour after a V2 vaults teaser was uploaded by the Yearn.finance Twitter handle. The post Yearn.finance (YFI) surges 10% on v2 vault teaser appeared first on CryptoSlate.