Odaily News MegaETH announced on platform X, "We have decided to refund all funds raised through the pre-deposit bridge. Due to careless execution, the expected goal of a 1:1 dollar exchange on the Mainnet with our deposit collateral does not align. The subsequent impacts of this decision include: 1. Depositors' contributions will not be forgotten. However, all communications must comply with compliance standards (i.e., “At this stage, we must adhere to best practices in information disclosure”), and the refund process requires a new smart contract, which is currently under audit. Refunds will be issued as soon as the audit is completed. 2. USDm is an important component of the MegaETH economy and will receive support from many Frontier applications. Therefore, we will reopen the USDC to USDM conversion bridge before the launch of the Frontier Mainnet to enhance liquidity and simplify the user sign-up process before the launch.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
dYdX community vote approved mobilizing a $10 million USDC insurance fund to fund the DAO
The dYdX Foundation announced on April 2 that it has passed the #372 on-chain community vote and will allocate $10 million USDC from the insurance fund to support DAO operations. The funds are allocated to the operating sub-DAO, the treasury sub-DAO, and the foundation for operations, reserves, and ecosystem development, respectively. The current insurance fund holds approximately $17 million USDC.
GateNews12h ago
Drift confirms an exploit worth $280 million, with risk spreading to USDC inflows
Drift confirms $280 million exploit, risk spreads to USDC flows
Drift said the $280 million exploit originated from the approval of unauthorized transactions through a durable nonce, raising concerns about USDC safety and fund flows.
Drift confirms the $280 million exploit was not caused by a smart contract issue
TapChiBitcoin14h ago
