According to Wu, the DeFi lending protocol Notional announced on Twitter that due to the Balancer vulnerability, Notional V3 has experienced severe bad debts, with a total loss of over 721 ETH on the Ethereum Mainnet and Arbitrum. The official announcement states that Notional V3 will be shut down, and all Balancer/Aura leveraged vault users will face a 100% loss, while ETH lenders and Liquidity Providers will also face significant asset write-downs. Notional will assist users in migrating to Aave and will release withdrawal and compensation plans as soon as possible. Notional raised a total of $11.3 million in financing between 2020 and 2021, with investments from Pantera Capital and Coinbase Ventures.
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Notional due to the Balancer vulnerability closing the V3 protocol, losses exceed 721 ETH
According to Wu, the DeFi lending protocol Notional announced on Twitter that due to the Balancer vulnerability, Notional V3 has experienced severe bad debts, with a total loss of over 721 ETH on the Ethereum Mainnet and Arbitrum. The official announcement states that Notional V3 will be shut down, and all Balancer/Aura leveraged vault users will face a 100% loss, while ETH lenders and Liquidity Providers will also face significant asset write-downs. Notional will assist users in migrating to Aave and will release withdrawal and compensation plans as soon as possible. Notional raised a total of $11.3 million in financing between 2020 and 2021, with investments from Pantera Capital and Coinbase Ventures.