Technology

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

Updates at LeechProtocol: Enhanced Rewards and Expanded Pool Options!

01/05/2024

Updates at LeechProtocol: Enhanced Rewards and Expanded Pool Options! Rewards We’ve revamped our rewards structure, now offering a generous 10% additional APR on your provided liquidity for Low-Risk Mixed Pool, USDC on BNB Chain (Venus), and USDT/USDC on BNB Chain (Biswap). This substantial increase is designed to provide even more value to our Leechers community! Targeted Reward Pools To experience the power of automated Yield Farming you can provide liquidity into 2 specific pools: New Pool Additions We’re also expanding our pool offerings to include exciting new options on both the Venus and Velodrome platforms: These additions provide more opportunities for our users to diversify their strategies and enhance potential earnings. Removal of All Limits In our commitment to providing a flexible and user-friendly platform, we have removed all limits on the protocol. You can now invest as much as you like across any of our pools without any restrictions. Join Us Now With improved rewards, focused pools, new additions, and no limits, LeechProtocol is set to be your go-to platform for yield farming. Dive into our updated offerings and start maximizing your DeFi potential today! What should you do next? Share: Twitter Facebook Telegram