Curve

The recent vote in the Curve community has resulted in significant compensation for DAO victims. Approximately $7.2M worth of ETH has been recovered by whitehats and distributed to the DAO, along with $42M worth of CRV to compensate for unrecovered parts. Additionally, other whitehat-recovered funds have been distributed prior to the vote.

Recovered funds are distributed immediately, but the CRV compensation part is vested over 1 year due to pre-programmed rules set in 2020.

A hack recovery is set to occur in the Curve community. Once the vote is finished, anyone in the world can move 70M CRV by pressing the 'enact' button.

A proposal will be created on [date], but most important details have already been written. Please consider these before voting.

According to the Curve community, it appears that the frontend is safe as long as Ledger is disabled or not clicked. The Ledger file has been updated on the CDN, indicating a level of safety. However, the community is waiting for confirmation that the hacker is unable to replace the library again before turning Ledger back on.

Ledger has been removed from the list temporarily, but it is possible that they have already fixed the issue.

On December 12, 2023, the crvUSD rates experienced an automatic decrease following the repegging of the stablecoin.

The increase in the rate coefficient for crvUSD has resulted in high borrow rates. However, as expected, the borrow rates have started going down as crvUSD repegs and pegkeepers fill while borrowers repay.

A vote has been initiated to replace a faulty price oracle for rebased tokens in the Stableswap-ng implementation. This replacement will also require the recreation of a few pools. While there is currently no risk for anyone due to lending protocols not integrating these pools, the issue needs to be fixed for the future. A proposal for a crvusd factory with rebased tokens is also being considered, with a fix for the ng implementation to follow.

Following last week's significant fees due to MEV bot wars, fees on Curve have remained high this week, with most of the increased fees coming from the crvUSD side.