zlacker

>>donsup+(OP)
They’re just one of several shiny fintech apps/websites running the same scam, a modern two-and-twenty on a ponzi — but with really nice UI.

Alice (alice.co / @alice_finance) is another prominent one that may have lost customer funds, which was also using the Anchor protocol. It’s unclear how much they lost, but it’s interesting that Do Kwon’s name is still an actual logo listed on their home page.

And Vertex Protocol (vertexprotocol.com / @vertex_protocol) recently raised $8.5m to launch a trading platform based on the Anchor protocol, but because their Phase 1 beta had just closed and the open launch was not planned until this summer, it looks like they may have just barely dodged the bullet?

What I’m really curious about are the new and (of course) unregulated “insurance” products meant to cover catastrophic crypto depegs, as happened to Terra/Luna. Unslashed (https://app.unslashed.finance/cover) is supposed to kick in after fourteen days, I believe. We’re not quite there yet, it’s barely a week so far. But I’m sure with this kind of implied loss reserves, it’ll be fine…

https://mobile.twitter.com/CurveFinance/status/1416392630754...

>>Aspara+M7
Insurace is another site who offered insurance for the UST depeg. They had a very poor estimation for the risk and had the price at only 2% annually for the amount insured. They were covering 22.2 million worth of UST and as of a few days ago they had claims submitted totalling 7.3 million worth.