This summarizes and answers main questions about the the current Fluid situation. USDC and USDT depositers on Fluid have had their risk profile meaningfully changed without governance action or team communication. They are currently on the hook for $8m in debt from Resolv depeg

jpn memelord
@jpn_memelord
05-17
In short they dipped in to a credit line in their own protocol to clear up bad debt from the Resolv depeg last month without communicating it. In addition $8.2m was promised from the treasury that only has $5.3m, $5m of which is deposit tokens from an effectively frozen vault.
From Twitter
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments