Euler Announces Largest Audit Competition in Crypto History for Euler v2
Euler Announces Largest Audit Competition in Crypto History for Euler v2
🔐 Audit Bonanza Incoming!
Euler, a UK-based tech startup, has announced the launch of the largest audit competition in crypto history for their upcoming Euler v2 protocol. The competition, in collaboration with Cantina, aims to subject Euler v2 to rigorous audits by leading security firms like OpenZeppelin, Certora, Spearbit, Zellic, Trail of Bits, and others. With a goal of adding an extra layer of scrutiny and stress-testing the code to its limits, the competition will run from May 20 to June 17, with a code reveal scheduled for April. Euler has allocated up to $1 million for high vulnerabilities alone, and submissions will be evaluated by Euler, Spearbit, and Cantina. In the coming weeks, Euler plans to share its comprehensive security strategy for Euler v2, aiming to make it one of the most vetted contracts in DeFi.
For Euler v2, we're going all in. Excited to announce the largest audit competition in crypto history!
Welcome... to the new largest competition in history with @eulerfinance! 💰 $1,250,000 USDC 🗓️ May 20th - June 17th 📍 @cantinaxyz Invite only. Don't have one? Details below:
$1,250,000 We're launching the largest audit competition in crypto history, with @cantinaxyz. Details 🧵
Uniswap V4 Liquidity Positions Now Usable as Collateral via VII Finance
VII Finance, built on Euler V2, now allows users to borrow against their Uniswap V4 liquidity positions while continuing to earn both lending yield and swap fees. **Key Features:** - Use Uniswap V4 LP tokens as collateral - Maintain earning potential from swap fees - Continue receiving lending yield - Powered by Euler's infrastructure This integration represents a step forward in capital efficiency for DeFi users, enabling them to access liquidity without sacrificing their position's earning potential. The solution combines Euler V2's lending infrastructure with Uniswap V4's concentrated liquidity model. For liquidity providers seeking to maximize capital efficiency, this offers a practical way to unlock value from existing positions.
Euler Finance Disables RLP Collateral Following Resolv USR Security Incident
Euler Finance has taken immediate protective measures after Resolv reported unauthorized minting of USR tokens. **Actions Taken:** - RLP disabled as collateral in Arbitrum Euler Yield vault - Euler Earn USDC on Arbitrum stopped allocating to Euler Yield - Exposure isolated while investigation continues KyberSwap also responded by blocking all wallets linked to the exploit from platform activity. Both protocols are monitoring the situation and promise updates as information emerges. The incident highlights the ongoing security challenges in DeFi protocols.
Euler Reviews Security Incident, Commits to System Strengthening
Euler is conducting a comprehensive review following a recent security incident, with recovery efforts now in progress. **Key Points:** - Full incident review underway - Focus on strengthening system security at all controllable layers - Continued support for ecosystem curators and builders **Background Context:** This follows Euler's complete recovery from a March 2023 exploit, where the team successfully retrieved all affected funds. The protocol has since been working on a more robust and modular platform version. The team maintains its commitment to security improvements while supporting the broader Euler ecosystem during the recovery process.
Elixir Opens Claims Portal for Frontier USDT Vault Users After Stream Incident
**Recovery Claims Now Open** Users affected by the Stream/Elixir incident involving the Frontier Elixir USDT vault on Plasma can now file claims for recovery. **Key Details:** - Affected users will receive approximately **80% recovery** on their positions - Claims portal: [partnerclaims.elixir.xyz](http://partnerclaims.elixir.xyz) - **Limited time window** to submit claims - Frontier Elixir USDT vault contract: `0x3799251bD81925cfcCF2992F10Af27A4e62Bf3F7` **What to Do:** Visit the Elixir recovery portal to check eligibility and submit your claim. Review the official thread for complete information on the recovery process and requirements. Time-sensitive action required for affected vault users.
EulerDAO Vault Depositors to Receive Pro-Rata Redemption Through Elixir Portal
Depositors in the EulerDAO vault will receive pro-rata redemptions through the Elixir claim portal. The two largest depositors were: - Re7 USDT0 Core vault - Telos Surge Earn vault Depositors in these Earn vaults will receive their share of the redemption based on the amount allocated from their respective vaults into the EulerDAO vault. The redemption process will be handled through the [Elixir claim portal](https://app.euler.finance/earn/0x66bE42a0BdA425A8C3b3c2cF4F4Cb9EDfcAEd21d?network=plasma).