In a January 6 tweet, the DeFi Balancer protocol warned certain liquidity providers to withdraw their LP “as soon as possible” due to an issue related to some of the service’s pools. Balancer’s emergency multisig has zeroed out fees for some pools, but the team noted that not all effects of the as-yet-unknown issue could be mitigated in this way.
Balancer listed the pools that need to be pulled to include DOLA/bb-a-USD on Ethereum, It’s MAI life and Smells Like Spartan Spirit on Optimism, and Tenacious Dollar on Fantom.
IMPORTANT: Because of a related issue, LPs of the following pools should remove their liquidity ASAP as the issue cannot be mitigated by the emergency DAO. https://t.co/WcBeBvjdY2
—Balancer (@Balancer) January 6, 2023
IMPORTANT: Due to a related issue, LPs in the following pools should be liquidated as soon as possible, as the emergency DAO cannot mitigate the issue.
At 2:03 am UTC on January 6, Balancer took to Twitter to announce an “issue” with liquidity pools on the platform. He stated that the protocol fees have been set to zero to mitigate the problem, and that more details “will be released publicly in the near future.”
Protocol fees of some Balancer pools have been set to 0 to avoid an issue that is now mitigated and will be publicly disclosed in the near future.
This has been done by the emergency multisig, a 4/7 comprised of BLabs engineers and Balancer Maxis: https://t.co/AZo7yBQD17
—Balancer (@Balancer) January 6, 2023
The protocol fees for some Balancer pools have been set to 0 to prevent an issue that is now mitigated and will be publicly disclosed in the near future.
This is what the emergency multisig has done, a 4/7 made up of engineers from BLabs and Balancer Maxis:
This story is ongoing and will be updated as more information comes in.
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