Rise and Shine Maestros,
Welcome to another beautiful week at BEETS. Funkadelically FRESH and always insightful, let’s dive into the weekly Concerto Programme.
Balancer Vulnerability Exploit
On August 27th, 5 days after the disclosure, malicious actors managed to exploit the pool vulnerability on a portion of funds that remained in affected pools across the Balancer protocol and Beethoven X DEX.
Users can be assured that Beethoven X and Balancer communities are taking all possible measures to thoroughly investigate the situation, and are actively collaborating with relevant partners, legal teams, and security experts to resolve the issue.
The safety/security of our users remains the highest priority and if the UI does not prompt a withdrawal from a pool or allows a user to enter a pool, then this pool is NOT at risk and is deemed SAFE to use.
We are still gathering information regarding some of the more recent exploits and as such it is currently not possible to disclose exact figures relating to loss.
We remain vigilant during these times and will keep the community updated as things progress.
Due to ongoing investigations into the exploit and its actors, we are currently limited in what can be disclosed publicly; as the situation develops we expect to release a detailed post-mortem report in the near future.
May the force BEET with you!
Another wave of the bi-weekly Gauge Vote has been completed and the votes are in. This round, over 139,000 BEETS were offered as BEETS bounties.
The final results for Round 44 can be found below.
Let’s get techy with it…
Following BIP-49 the Beets dev crew have now started putting plans into action. The proposal seeks to migrate the bridged BEETS token on Optimism and resume the bridging functionality between the native BEETS token on Fantom and Optimism.
So far the migration contract is nearing completion, with the finishing touches being added as we speak. Following this, the devs have their eyes set on the frontend UI and are ready to dive headfirst in, of course, adding some signature Beethoven beauty.
BEETS will be back on OP before you know it!
BEETS DA-DA-DA DATA
The BEETS data series is running strong. Light work and easy reading these little gems are meant to keep you up to date with the most essential performance metrics at Beethoven X.
Dive into episode #22.
DeFi is brimming with new stuff, all the time. It’s fast, it’s fun and it’s oh-so complicated — or is it? Come join us in Discord for Tech Thursday, a mellow jam session on the technical innovations from Beethoven X and Beyond!
Everyone is welcome, simply tune in and get those questions popping.
The sun is shining Ludwigs and the weather is sweet! We hope everyone out there is still groovin’ to the BEETS. More challenging times out there for sure but we’re out here building and fully committed to the mission. There is plenty in the pipeline to look forward to and we’re stoked to have you all here with us!
Have a great week and stay FRESH maestros!