Odaily Planet Daily reports that after a bad debt of approximately $1.78 million caused by an oracle configuration error, the DeFi lending protocol Moonwell released an incident response update on the X platform. It states that the recovery plan has now been published on the governance forum, which includes integrating the Moonwell Apollo (MFAM) community into the Moonwell ecosystem (WELL). The Moonwell Apollo Treasury will immediately initiate partial compensation, with ongoing compensation to be provided through protocol revenue. Additionally, MFAM holders and stkWELL stakers are expected to receive compensation at a ratio of 1:1.5 (MFAM:stkWELL).
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Solana ecosystem DeFi protocol Drift will launch cross-chain deposit functionality on March 12.
Gate News Announcement: On March 11, the Solana ecosystem DeFi protocol Drift announced that on March 12, it will launch cross-chain deposit functionality, allowing users to transfer funds from any major trading platform and start trading.
GateNews22m ago
VanEck: Bitcoin mining companies are transitioning to AI infrastructure, with valuation potential undervaluation
VanEck Research Director Matthew Sigel pointed out that Bitcoin mining stocks are attractive to investors, as mining companies are shifting toward the AI market to enhance value. Core Scientific plans to sell Bitcoin assets to expand its AI business, and Riot Platforms expects to achieve a strategic transformation by 2025. Over the past 12 months, both Core and Riot stocks have increased by 90%, while MARA has fallen 35% due to rising costs. NODE ETF has risen over 30% since its launch.
GateNews23m ago
Ferra Early Deployment Guide: Sexy Sui Chain, Distributing Rewards Online
Ferra is an all-in-one DEX on the Sui blockchain, utilizing a dynamic liquidity layer and multiple AMM engines. It has completed $2 million in funding. Users can earn points through liquidity mining and trading to participate in airdrops. The project is simple and easy to operate, with low early participation costs and strong growth potential.
PANews29m ago
Elon Musk: Macrohard is a joint project between xAI and Tesla that can simulate the entire operation of the company.
Elon Musk revealed that xAI, in collaboration with Tesla, is developing the Macrohard or Digital Optimus project, which combines Grok and AI technologies to process computer operations in real time. This system simulates the entire company's operations and is jokingly called "Giant Hard." Its goal is to create a unique and low-cost real-time intelligent AI system.
GateNews1h ago
Brera Stock Plunges Amid Growing Solana Pivot as 'Solmate' Firm Dumps Soccer Teams
In brief
Shares of Brera Holdings (SLMT) have dumped more than 19% on Wednesday.
The firm announced its intentions to shift focus to a UAE-centered Solana infrastructure firm late Tuesday.
One of its largest institutional shareholders, Ark Invest, began offloading small portions of its
Decrypt1h ago
