exploit worked b/c Edel’s collateral pricing was weak + manipulable
regular xStocks could suffer the same attack if the protocol priced them using anything sloppy like a thin pool or unguarded rate vs direct oracles
wrapper simply made it cheaper, easier

Edel (EDEL)
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In the Edel ecosystem, something bad happened this week.
But despite that, there’s still something to be hopeful for.
Let me give you all the gist.
An exploitation happened on July 1, where an attacker manipulated the wGOOGLx to be worth 78x more than its original price.
And then use it to borrow $400k+ token on Edel, creating a massive debt for the protocol.
Immediately that happened, @edeldotfinance finance addressed the issue, stating that:
>> They’ve paused all contracts
>> No user would bear any loss
>> They’re working on tracking the attacker
>> And offering the attacker a bounty if the funds are returned
Unfortunately, because of the incident, Edel’s TVL took a great hit.
It went down from $600k TVL to $900+
Despite this, the $EDEL went up by 15%+.
Plus, EDEL kept building: 👇
•The founder kept showing up
•Partnerships with Supanova & Silvana occurred
•Users reward distribution went live
With this incident, you would have expected @edelfinance to shut down by now
But it didn’t
Canton canton-network:native associated low-caps have been running e.g.- base:0x9818b6c09f5ecc843060927e8587c427c7c93583 & base:0x3bbcb624cb9a1f73163a886f460f47603e5e4425.
I think $EDEL could be next. https://t.co/jtrRtR1f4i
Edel is distributing around 50k $CC rewards per day. Between the 14th and 15th alone, it generated over 331,000 $CC in rewards while netting more than 232,000 $CC in profit.
Out of 132 apps on the network, only about 60 are profitable at all and Edel ranks near the top.
The team is also developing tokenized equities and a privacy-focused perps DEX aimed at institutional use on the same regulated network that Goldman Sachs, HSBC and others already trust. The Canton team recently raised $355 million led by Andreessen Horowitz.
On https://t.co/yJUaPbqesb, users earn $CC rewards based on activity, with higher holdings of EDELX leading to larger shares. $EDEL is currently trading at about 0.175 on Canton versus 0.0145 on Base. The project is generating roughly $40k per day in revenue with a market cap still around 8.7 million.
Prévision de prix
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Prédiction de Beacon
Prévision probabiliste des prix (Prochaines 24 heures)Cette prédiction est un produit technique expérimental et est fournie uniquement à titre de référence. Ceci ne constitue pas un conseil en investissement. Des événements inattendus du monde réel peuvent avoir un impact significatif sur le comportement du marché. Les traders doivent prendre des décisions avec prudence.