Fluid (FLUID)

Update on the Resolv incident: Debt repayment is ongoing and will continue until 100% of affected user funds are covered. As of today: • ~$70M of USR-related debt on BNB and Plasma chains has been repaid. The remaining debt will be settled over the coming days. • A governance proposal to transfer the remaining USR debt positions to the team multisig, to further settle them with the Resolv team, has been published on-chain. • A compensation plan for all affected USR users will be shared shortly. All Fluid markets are safe and operate as intended. All user funds remain secure. We will continue to provide daily updates as the situation progresses.

Good to see the markets starting to get normal across all chains on Fluid now that storm has settled down. Rates are stabilized now (but still slightly higher). Lots of opportunities. Specially, on Venus Flux & Fluid Plasma. Fluid took a hit of 10% on its market size but things should be completely back to normal in a week and will work on hitting a new high over next 3 months! We will bounce back harder (and safer)!!! 🌊🌊🌊

Important update on the Resolv incident. Debt repayments have begun on Fluid. LPs have been engaged directly through Fluid & Resolv teams. Starting with Venus Flux & Fluid Plasma. The remaining debt will be repaid over the coming days. We are working closely with the @ResolvLabs team to ensure a smooth and straightforward process for users. 100% of user assets on Fluid remain fully secured. All markets continue to operate as intended. Smart contracts are safe. Users may experience temporary rate volatility while positions are being unwound — this is expected. →No user action is required at this time. We will continue to provide updates as the situation progresses.

Update on the Resolv incident: The Fluid team has secured short-term loans to cover 100% of the bad debt currently in the protocol. These funds were secured with commitments from @Lomashuk from @cyberfund, @weremeow, and the Fluid core team, ensuring that no user funds are at risk. @ResolvLabs has confirmed they will cover all USR positions that were originated before the security incident, and will enable redemptions required to close those debt positions. Additionally, multiple investors have expressed interest in purchasing $FLUID from the treasury should any additional funds be required, further strengthening the protocol’s backstop. Fluid smart contracts are safe and operating as intended. All other markets continue to function normally, and protocol safeguards remain active. Users may see temporary rate volatility while positions are being unwound. We will continue to provide updates as the situation progresses.

Update on the Resolv incident: The Fluid team has secured short-term loans to cover 100% of the bad debt currently in the protocol. These funds were secured with commitments from @Lomashuk from @cyberfund, @weremeow, and the Fluid core team, ensuring that no user funds are at risk. @ResolvLabs has confirmed they will cover all USR positions that were originated before the security incident, and will enable redemptions required to close those debt positions. Additionally, multiple investors have expressed interest in purchasing $FLUID from the treasury should any additional funds be required, further strengthening the protocol’s backstop. Fluid smart contracts are safe and operating as intended. All other markets continue to function normally, and protocol safeguards remain active. Users may see temporary rate volatility while positions are being unwound. We will continue to provide updates as the situation progresses.

We now have everything in place to confidently say that users will be made whole on Fluid! Woke up to a hack from 4.5hrs of sleep. Did calls the whole Sunday for past 18hrs to align and ensure our users are 100% safe! Still very energetic to get through this! Fluid is safu! 🌊🌊🌊

Update on the Resolv incident: The Fluid team has secured short-term loans to cover 100% of the bad debt currently in the protocol. These funds were secured with commitments from @Lomashuk from @cyberfund, @weremeow, and the Fluid core team, ensuring that no user funds are at risk. @ResolvLabs has confirmed they will cover all USR positions that were originated before the security incident, and will enable redemptions required to close those debt positions. Additionally, multiple investors have expressed interest in purchasing $FLUID from the treasury should any additional funds be required, further strengthening the protocol’s backstop. Fluid smart contracts are safe and operating as intended. All other markets continue to function normally, and protocol safeguards remain active. Users may see temporary rate volatility while positions are being unwound. We will continue to provide updates as the situation progresses.