Yield Protocol declares full recovery from Euler hack awaits user token exchange
1. Yield Protocol's Full Recovery from Euler Hack Yield Protocol,a decentralized finance (DeFi) platform built on Ethereum,has officially declared that it has recovered from a hack that occurred in May 2021. The Euler hack,which resulted in a loss of approximately $3.7 million in user funds,was caused by a vulnerability in the protocol's code. However,Yield Protocol's team was able to quickly identify and patch the issue,recover the lost funds,and prevent any further losses from occurring. The platform has since undergone multiple security audits and is now ready to move forward with its development.
2. Yield Protocol's User Token Exchange As part of its recovery efforts,Yield Protocol has announced that it will be exchanging the tokens that users lost in the Euler hack for new ones. The new tokens will have different contract addresses than the old ones,and users will need to swap their old tokens for the new ones in order to participate in the platform's governance and yield farming activities. The token swap process will start on October 10,2021,and will be conducted in a controlled manner to ensure that all users are able to participate fairly.
3. Yield Protocol's Governance and Development Plans With the recovery from the Euler hack complete,Yield Protocol is now looking towards the future. The platform's team has announced plans to launch a decentralized autonomous organization (DAO) that will be responsible for managing the protocol's governance and development. The DAO will be governed by YIELD token holders,who will be able to propose and vote on changes to the platform. Additionally,Yield Protocol will be adding new features to its platform,such as support for additional yield farming strategies and new collateral types. These new features will help the platform to attract more users and solidify its position as a leading DeFi platform.
source https://titdoi.com/news/Yield-Protocol-declares-full-recovery-from-Euler-hack-awaits-user-token-exchange
2. Yield Protocol's User Token Exchange As part of its recovery efforts,Yield Protocol has announced that it will be exchanging the tokens that users lost in the Euler hack for new ones. The new tokens will have different contract addresses than the old ones,and users will need to swap their old tokens for the new ones in order to participate in the platform's governance and yield farming activities. The token swap process will start on October 10,2021,and will be conducted in a controlled manner to ensure that all users are able to participate fairly.
3. Yield Protocol's Governance and Development Plans With the recovery from the Euler hack complete,Yield Protocol is now looking towards the future. The platform's team has announced plans to launch a decentralized autonomous organization (DAO) that will be responsible for managing the protocol's governance and development. The DAO will be governed by YIELD token holders,who will be able to propose and vote on changes to the platform. Additionally,Yield Protocol will be adding new features to its platform,such as support for additional yield farming strategies and new collateral types. These new features will help the platform to attract more users and solidify its position as a leading DeFi platform.
source https://titdoi.com/news/Yield-Protocol-declares-full-recovery-from-Euler-hack-awaits-user-token-exchange
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