Co-Founder of @zentrafinance Previously : Sonne Finance, Mare Finance
Joined January 2021
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Atakan Y | Zentra Finance retweeted
On the 25th, we will withdraw all of the ZNT liquidity from Satsuma and share details of the wind-down process.
We continue to track the attacker and will post further updates here as more information becomes available.
We deleted the sonne discord but you can simply check debank sir. We distributed usdcs directly to your wallet. It was around 7% of your hacked amount iirc
By LPs, do you mean sonne-usdc LP or supplies to the money markets? If latter, we should have send you some compensation. Maybe you didn’t realize it because we sent directly to your wallets if you held some sbonds
Hello Jim, don't get me wrong, I understand your frustration, but I just wanted to explain.
Sonne was the only project I had before, and we paid around $1.5M in compensation to the victims (obviously, that wasn't enough). I lost almost all of my life savings in that exploit as well, and we're still tracking the funds with the legal authorities.
In this exploit, we returned 90% of the funds to the victims, and we will track down the exploiter and do everything we can to return the remaining 10%.
Just to add, I'm not a developer but the architect of the projects. I tried my best to be as transparent and honest as possible, but obviously it was not enough. I'm stepping down from DeFi and will try my chances in different sectors.
Sorry for your loss.
Atakan Y | Zentra Finance retweeted
Zentra is back online, and markets have reopened following the September 9 exploit.
The exploit left the ctUSD reserve short by approximately 139,961 ctUSD against depositor claims. A one-time proportional adjustment of 10.19% has been applied to every zctUSD balance recorded at block 12428145, bringing reserve claims back in line with reserve assets.
Withdrawals are now open at zentra.finance. Most of the reserve remains lent out, so liquidity will return as borrowers repay. New borrowing against the reserve remains restricted so that returning liquidity reaches withdrawing depositors first.
The adjustment restores the reserve. It does not by itself make affected depositors whole.
The 14 September deadline passed without a response from the attacker. Recovery efforts are continuing through technical, on-chain and legal channels, and the bounty is now directed at verified informants.
We will provide a further update once the next steps have been confirmed.
Atakan Y | Zentra Finance retweeted
An initial mitigation was implemented on Zentra today to prevent users from accruing additional interest while the markets remain paused.
Interest rates have been set to 0, and the protocol has been paused again while the broader system patch undergoes review.
We will provide a further update once the review is complete and the deployment plan and next steps have been confirmed.
I would still consider a whitehat to be honest, 15% is a little bit higher than industry standard, but much much better than nothing
Once the biggest player on DeFi world, now it’s just “another update”.
Curve wars was overrated, but i think the biggest lesson it taught was that anything is gameable.
They were the smartest in the room at the time
Atakan Y | Zentra Finance retweeted
sUSN markets are live on Zentra Finance!
Zentra 🤝 @noon_capital
Supply cap : $2,000,000
Max LTV : 75%
Reserve factor: 15%
Atakan Y | Zentra Finance retweeted
ctUSD Earn Vault is open to all depositors 🍊🍋
3-pillar strategy:
1) @SatsumaDEX - Trading fees, associated stablecoin yield, $SUMA incentives.
2) @Morpho (Mystic UI) - borrow interest.
3) @ZentraFinance - borrow interest + $ZNT incentives.
Start here: app.upshift.finance/pools/41…
Am i doing it right @RevenueCat ?
I heard sharing screenshots bring attention
