lo0p Relaunch Announcement
Earlier today, an attacker exploited the absence of a per-block liquidation limit in our contracts. Within a single block, 24 positions were liquidated and cross-pool arbitrage was used to extract approximately 3.4 ETH in profit. While the protocol’s core math functioned as intended, this design flaw exposed LPs and borrowers to unnecessary risk.
To address this issue, we are deploying updated lo0p contracts with the necessary fixes and relaunching the protocol.
1:1 Airdrop
To ensure existing LO0P holders are not affected, we will conduct a full 1:1 airdrop. In addition, we have taken a snapshot from the block immediately before the exploit, and users who were liquidated during the attack will also receive their tokens back.
Please send your old LO0P tokens to the following address:
0x1D73f1def90C6e23dF4D7Ff7Dff377a9c973686f
An equivalent amount of new LO0P tokens will be automatically sent to the same wallet from the new contract.
You will have 24 hours to send your LO0P tokens. Once this period ends, the new system will go live.
Tokens sent before the relaunch time will also be included in the snapshot. New contract addresses and airdrop distribution details will be announced through our official channels.