Elemental Resumes Operations, Confirms Vault Write-Down Ratio and Calls for Compensation from Drift
Foresight News reports that the DeFi protocol Elemental has announced the resumption of normal operations after being affected by the Drift attack incident. The final confirmed markdown data are: the SOL 1 and 2 vaults faced an 87.51% markdown, and the USDC Lend vault faced a 62.10% markdown. After completing the markdown, all affected vaults have returned to normal, and users are free to unstake, withdraw, or deposit funds.
In addition, the platform has merged the Beta environment into the main platform and launched a "History" tab to provide full transparency of account activities. Elemental stated that it will continue to strengthen its security measures in the future and also hopes to obtain partial compensation from Drift.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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