Pagrindiniai taksieji
- Convex Finance, a dominant force in the so-called Curve Wars, has been alerted of a non-critical bug in one of its contracts.
- This prompted the team to unlock all tokens from the old contract and redeploy a new contract.
- The bug did not endanger user funds, according to Convex’s team.
Pasidalykite šiuo straipsniu
Convex Finance has been made aware of a bug in its vlCVX rewards system, requiring the team to redeploy a new contract. No funds were lost, and “user deposits were not at risk,” Convex sakė.
Convex Finance Alerted to Bug
Convex Finance was forced to unlock vote-locked CVX from a contract today due to a non-critical bug.
The vote-locked CVX contract has been redeployed ant the discovery of a bug in its reward system. All CVX locked in the contract containing the bug were unlocked, meaning users who had vote-locked their CVX tokens will have to withdraw them and re-lock them in the new contract, if desired.
Vote-locked CVX tokens represent locked Convex tokens that reward platform fees and bestow voting rights.
The bug, though not dangerous to user funds, allowed for the possibility of “expired locks to relock directly to a new address, which, in turn, enabled them to claim more cvxCRV rewards than they had earned.” The contract could not simply be patched since Convex’s contracts “are immutable and non-upgradeable,” meaning a new contract had to be redeployed and the old one simply abandoned.
Employees at Popcorn, a yield generator that simultaneously funds social impact organizations, alerted Convex of the existence of the bug, for which it will be paid a bounty reward coming from Convex’s treasury.
Convex Finance is a protocol that helps users earn higher yields from Curve, an automated market maker that allows for yield generation and liquidity providing and has the most total value locked of any decentralized finance platform. Protocols compete for veCRV, a governance token giving voting rights on where Curve rewards are distributed, so that more Curve rewards can be directed to their own protocol, boosting yield and total value locked. This has been dubbed the Kreivų karai.
Išgaubta leidžia users to earn Curve staking rewards while retaining liquidity via the issuance of cvxCRV tokens upon locking CRV. cvxCRV can be traded at only a minor discount while CRV remains locked, earning yield. This mechanism has allowed Convex to perform well in the Curve Wars, and its total value locked crossed $20 billion anksčiau this year, which at the time gave it the number two spot only behind Curve in terms of total value locked. It has since sumažėjo to fourth.
The CVX token has fallen 15% today as of press time.
Atskleidimas: Rašymo metu šio kūrinio autoriui priklausė BTC, ETH ir kelios kitos kriptovaliutos.
Pasidalykite šiuo straipsniu
Ar laikas yra mūsų pusėje? Bitcoin pailgėjimo ciklų atvejis
Viena iš daugelio unikalių BTC ypatybių yra jos perpusėjimo procesas, kurį dažnai lydi bulių judėjimas, o prieš tai vyksta meškų konsolidacija. Bitkoino perpus mažėjimo įvykiai buvo…
Yearn ir Convex konkuruoja dėl kreivės žetonų
„Curve Finance“ fondų pajamingumo optimizavimas yra „yearn Finance“ duona ir sviestas, tačiau naujokas „Convex Finance“ sparčiai populiarėja, nes du DeFi protokolai kovoja už Curve likvidumo tiekėją...
Balansuotojas šokinėja, kai komanda sveria kreivės tipo žetonus
Balancer is looking at implementing a vote-escrowed token model for the Balancer protocol. Balancer Looks to Follow Curve Tokenomics Balancer has taken note of the Curve Wars. The pioneering DeFi…
Išgaubtas finansas kerta 20 mlrd. USD užrakintas, aplenkdamas „DeFi“ sąvaržas
„Convex Finance“ dabar yra antras pagal dydį „DeFi“ protokolas, kurio bendra vertė užblokuota daugiau nei 21 mlrd. „Convex Finance“ šoktelėjo į antrąją vietą „TVL“ „Convex Finance“ dabar užima antrąją pagal dydį…
Source: https://cryptobriefing.com/convex-finance-forced-to-abandon-redeploy-contract-due-to-bug/?utm_source=main_feed&utm_medium=rss