Warp Finance was within the information final month after it took to Twitter to increase on a “advanced flash mortgage assault” it was a sufferer of. Within the stated incident, dangerous actors managed to borrow greater than the collateral worth, whereas additionally ensuing within the lack of $7.7 million value of stablecoins from the protocol.
2/ The exploiter was capable of take away $7.7m of stablecoins. The workforce has a plan to get better roughly $5.5m that’s nonetheless secured within the collateral vault. Upon profitable restoration, these might be distributed to customers who skilled a loss.
— warp.finance (@warpfinance) December 18, 2020
It needs to be famous, nevertheless, that Warp Finance was capable of get better 73% of customers’ funds. Not too long ago, the challenge additionally revealed that its workforce has been in touch with a number of safety specialists for the reason that incident, with their intention being to find out “the following greatest steps for making certain a secure relaunch” of the protocol.
Having concluded that mission, Warp Finance at present introduced that it has determined to combine Chainlink worth feeds, a growth the workforce believes will assist safe the relaunch of the protocol.
Within the stated announcement, the protocol additionally acknowledged that the reason for the exploit was an insecure, gameable worth oracle. That is the explanation why the Warp Finance workforce has dubbed Chainlink as probably the most strong oracle answer out there, one that might assist them shield their ecosystem.
“Our analysis and due diligence concluded that Chainlink was probably the most safe, dependable, and confirmed oracle answer, and can shield the Warp Finance ecosystem from comparable flash loan-funded worth oracle assaults shifting ahead.”
Moreover, Chainlink worth feeds might be used for DAI/ETH, BTC/ETH, USDT/ETH, and USDC/ETH.
The Warp Finance workforce additionally lauded Chainlink for the oracle supplier’s efficiency and profitable operations in periods of utmost blockchain community congestion and sudden hardforks up to now. In actual fact, the protocol additionally highlighted how Chainlink’s oracle nodes are security-reviewed and operated by skilled DevOps groups. The announcement added,
“Backed by confirmed cryptoeconomics, high-quality information, and provably safe and dependable oracle infrastructure, Chainlink’s time-tested and battle-hardened Worth Feeds will make sure the Warp Finance protocol is immune to flash mortgage assaults.”
Thus far, the oracle supplier has been built-in with greater than 300 tasks, with 29 such integrations going down in October 2020 alone. This listing consists of 74 blockchains, 98 DeFi tasks, 23 information suppliers, 44 nodes, and plenty of extra.