Dear Alpha community, our partners, and DeFi users, we'd like to share a post mortem on the recent Alpha Homora V2 exploit.
We’d like to sincerely thank everyone who has helped us, both on the technical and non-technical sides.
TL;DR 👇
blog.alphafinance.io/alpha-homora-v…
We’d like to sincerely thank everyone who has helped us, both on the technical and non-technical sides.
TL;DR 👇
blog.alphafinance.io/alpha-homora-v…
2/ The debt is not between users and Alpha Homora v2, but between Alpha Homora V2 and Cream V2.
This is because Alpha Homora V2 is integrated with Cream V2 (Iron Bank) in a protocol-to-protocol lending way. Thus, the debt is between the two protocols and not the users.
This is because Alpha Homora V2 is integrated with Cream V2 (Iron Bank) in a protocol-to-protocol lending way. Thus, the debt is between the two protocols and not the users.
3/ Alpha team will work with @AndreCronjeTech and @CreamdotFinance team to find remedial actions to resolve the debt.
4/ Currently, borrowing (new leveraged positions and borrowing more to the existing positions) are now paused.
Lenders can still lend.
Leveraged yield farmers can still repay their debt, add collateral, and close the positions.
Lenders can still lend.
Leveraged yield farmers can still repay their debt, add collateral, and close the positions.
5/ This exploit is complicated, involving more than 9 transactions. We hope this thorough post mortem will not only be helpful to the Alpha community and our partners, but also to other projects and builders in DeFi.
6/ This moment shows how important it is to continue helping each other out and building a safer DeFi ecosystem for everyone, and Alpha team is committed to building and helping builders in the space to create a stronger and safer DeFi ecosystem.
7/ This incident has helped us and will continue to help us bond stronger as a community, and we look forward to building a brighter and safer future.
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