Industry

Security audit. Grant by Optimism

03/03/2025

Security audit. Grant by Optimism Leech Protocol Successfully Completes Another Security Audit – Thanks to Optimism Security Grant! We’re happy to announce that Leech Protocol has successfully completed another security audit by Ackee Blockchain Security! 🎉 The audit covered our cross-chain yield farming strategies, ensuring robust security, proper integration, and smart contract reliability. With rigorous testing and quick action on feedback, we continue to uphold our commitment to security and innovation. A huge thank you to Optimism for providing security audit grant, Ackee and our community for the ongoing support! 💪 More details on audit: https://ackee.xyz/blog/leech-protocol-audit-summary/ Optimism grant for LeechProtocol: https://gov.optimism.io/t/cycle-29-final-roundnup/9211 Twitter Facebook Telegram

msUSD Stablecoin Overview

20/12/2024

msUSD Stablecoin Overview Overview From the user’s perspective, the metronome works a bit similar to the classic lending protocol. The user can deposit his collateral (a bunch of tokens). After this, he can mint synthetic assets using collateral factors, mostly 80-85%. There is no redemption functionality, only to repay the debt. So, the random arbitrager can’t redeem bought tokens and drain the treasury. Reserves Atm: TVL: $24.7M, Minted: $21.1M Funds are separated between 3 chains: eth, opt, and base. Treasuries and Protocol Owned Liquidity. Revenue All revenues move to the treasury, and DAO can use funds treasury as well. PSM Based on arbitrage opportunities: a) all synth assets can be swapped between each other inside the protocol. So if the peg is weak arbitrager can buy cheap assets (e.g. msUSD), swap to a stronger one (msETH), and sell msETH on the market. Such buys will increase the peg. b) if the peg is weak collateral providers can buy back their msUSD to withdraw their collateral and earn profit. Onchain security Each chain operates by the Off-chain governance (snapshot) and 2/4 multi-sig gnosis wallet. Summary pros and cons Twitter Facebook Telegram

LeechProtocol Q3 2024 Recap: New Features and Strategic Integrations

11/10/2024

The third quarter of 2024 has been an exciting period for LeechProtocol, marked by major enhancements and integrations that solidify our position as an automated yield farming aggregator. Here’s a detailed breakdown of our progress and what’s to come in Q4: Key Updates in Q3 2024: 1. UI/UX Enhancements: We’ve focused on improving the overall user experience, introducing a fully optimized mobile version available at app.leechprotocol.com to make accessing LeechProtocol on the go easier than ever. In addition, new UX elements were introduced, contributing to a smoother and more intuitive navigation. We also worked behind the scenes to boost performance across the platform, ensuring a faster and more responsive user experience. 2. New APR Calculation Model: We’ve revamped our APR calculation, now basing it on the historical performance of pools. This provides users with more accurate yield projections, helping them make better-informed decisions when choosing which pools to invest in. 3. Integration with Velodrome v3: LeechProtocol now supports Velodrome v3, a powerful Concentrated Liquidity AMM. This integration enables more capital-efficient liquidity farming, providing our users access to high-yield opportunities with greater flexibility and precision in liquidity management. 4. Bug Fixes & Code Refactoring: Our development team worked extensively to fix bugs and refactor key parts of the codebase, improving overall stability and scalability. These updates enhance the protocol’s robustness, ensuring a more reliable experience for all users. Looking Ahead: Q4 2024 Plans We’re keeping the momentum going into Q4 with some exciting developments: • New Swap Router with KyberSwap Integration: We’re developing a new swap router that will be integrated with KyberSwap, giving our users lower commissions while withdrawing and depositing liquidity. • Integration with Base Blockchain: In Q4, we plan to expand LeechProtocol’s ecosystem further by integrating with Base blockchain to allow more Yield Farm use cases for our users • Integration with DEX Aerodrome: In Q4, we plan to expand LeechProtocol’s ecosystem further by integrating Aerodrome Dex on Base blockchain, unlocking additional yield farming opportunities and enhancing cross-chain compatibility. Thank you for being part of the LeechProtocol journey. Let’s make Q4 even bigger!