Crypto Blog
Pac Finance, a lending app on Blast, has had its users report a $24 million liquidation on April 11 due to a sudden change in parameters by the developer wallet.
Mass liquidations are common for leveraged traders who borrow crypto, but they often occur due to fluctuations in the market, not protocol parameter changes.Pac Finance is a platform where crypto holders can earn interest by lending their assets. The app implements a loan-to-value ratio , which limits borrowers to loans equivalent to a certain percentage of their collateral to ensure repayment. Typically, the development team announces changes to the LTV beforehand.
Developer kydo.eth from EigenLabs initially brought light to the information, prompting Pac Finance users to voice their grievances and demand explanations on the protocol’s official Discord server.In response, the team’s Discord moderator, Bountydreams, stated they are attempting to contact the team for clarification. However, no response has been received as of writing these lines.According to smart contract developer Roffet.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pac Finance reportedly causes $24M in liquidations via sudden parameter changePac Finance users complained of unfair liquidations after an admin wallet suddenly changed collateral rules.
Read more »
$26 million in 'unnecessary liquidations' hit Blast-based lender Pac FinanceAn Aave fork on Blast unexpectedly updated its liquidation threshold, causing a large swatch of liquidations.
Read more »
Personalized Soups: LLM Alignment Via Parameter MergingThis paper introduces RLPHF, which aligns large language models with personalized human preferences via multi-objective RL and parameter merging.
Read more »
Personalized Soups: LLM Alignment Via Parameter Merging - Abstract & IntroductionThis paper introduces RLPHF, which aligns large language models with personalized human preferences via multi-objective RL and parameter merging.
Read more »
Personalized Soups: LLM Alignment Via Parameter Merging - Personalized Human FeedbackThis paper introduces RLPHF, which aligns large language models with personalized human preferences via multi-objective RL and parameter merging.
Read more »
Personalized Soups: LLM Alignment Via Parameter Merging - Conclusion & ReferencesThis paper introduces RLPHF, which aligns large language models with personalized human preferences via multi-objective RL and parameter merging.
Read more »