The team has found the root cause of the withdrawal failures. First and foremost, all the funds are safe in the contract.
09 May 2023, 16:21
The team has found the root cause of the withdrawal failures.
First and foremost, all the funds are safe in the contract. The reason for multiple withdrawal failures is that the liquidity of BUSD in AAVE V1 is not enough, which is an external dependency of Smoothy. Single withdrawal also failed because that BUSD is reaching its hard limit, and if users withdraw others like USDT or DAI, then the percentage of BUSD will exceed its hard limit which is not allowed.
The BUSD was temporarily reduced to 1%/2% because of the recent YFI attack for USDT (not BUSD/DAI). After carefully evaluating the security of BUSD/DAI yEarn contracts, the team plans to recover the limits of BUSD to 5%/10%, which will go through a timelock process. The whole process will take about three to four days. When the new soft/hard limit takes effect, users should be able to withdraw the liquidity (unless the BUSD hits the hard limit again).
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09 May 2023, 16:29
4/4 The whole process will take about three to four days. When the new soft/hard limit takes effect, users should be able to withdraw the liquidity (unless the BUSD hits the hard limit again).
4/4 The whole process will take about three to four days.
4/4 The whole process will take about three to four days. When the new soft/hard limit takes effect, users should be able to withdraw the liquidity (unless the BUSD hits the hard limit again).
09 May 2023, 16:29
3/ The BUSD was temporarily reduced to 1%/2% because of the recent YFI attack for USDT (not BUSD/DAI). After carefully evaluating the security of BUSD/DAI yEarn contracts, the team plans to recover the limits of BUSD to 5%/10%, which will go through a timelock process.
3/ The BUSD was temporarily reduced to 1%/2% because of the recent YFI attack for USDT (not BUSD/DAI).
3/ The BUSD was temporarily reduced to 1%/2% because of the recent YFI attack for USDT (not BUSD/DAI). After carefully evaluating the security of BUSD/DAI yEarn contracts, the team plans to recover the limits of BUSD to 5%/10%, which will go through a timelock process.
09 May 2023, 16:29
1/ The team has found the root cause of the withdrawal failures.
First and foremost, all the funds are safe in the contract. The reason for multiple withdrawal failures is that the liquidity of BUSD in AAVE V1 is not enough, which is an external dependency of Smoothy.
1/ The team has found the root cause of the withdrawal failures. First and foremost, all the funds are safe in the contract.
1/ The team has found the root cause of the withdrawal failures.
First and foremost, all the funds are safe in the contract. The reason for multiple withdrawal failures is that the liquidity of BUSD in AAVE V1 is not enough, which is an external dependency of Smoothy.