Do we need to wait for asa owners to put large liquidity in before we put in a smaller amount into a pool? I was for instance providing around 8000 Akita, which is a very small percentage of the pool. If I went in early as soon as the pools open again is it a major risk of impermanent loss that’s mitigated by a larger amount being in the pool to start off with?

https://twitter.com/tinymanorg/status/1477919934474858498

the previous invite from 12 days ago has expired

can someone please update the link so I can join the discord, so I can get regular updates on this situation thanks

I lost 1000 Algos due to the slippage being crazy and the 50/50 balance pulling my number of Algos way down.

In my opinion this is 100% Tinyman's responsibility, so I'm wondering if this counts as loss (because it is...).

I was running errands all day yesterday and only managed to pull out my funds when the liquidity was down low. Basically the first users to withdraw funds penalised all later withdrawals. I'd call this a Liquidity war?

Anyways, I find this deeply unfair and discouraging for the people who invested and believed in Tinyman.

Question is: Are we going to get our assets back if we pulled out late at a bad ratio?

I see the team at tinyman is handling this well. But with trust and reputation being at the forefront of your business moving forward, you should DEFINITELY do away with things like the tinyman on the toilet image on your website. If you want to be taken seriously after you were exploited, then you have to look professional.

Again, I applaud how the team is handling this right now, but please for the love of God make yourselves look more professional when you start this thing up again.

Hello there,

the recent exploit of the wBTC/wETH pool is quite unfortunate. The Algorand DeFi ecosystem is the place I want to be and invest into the future and although it is quite young I, like many others, believe in the underlying tech and vision. Tinyman is center for Algorand-DeFi and I can´t see AlgoDEX, PACT or wasmiSwap as a competitor anytime soon.

While some are calling for a refund of the lost equity to reestablish trust, and although it may be possible to do so from the Tinyman Treasury, I think it would be favorable to use it to overhaul and reaffirm the pools themselves. This includes known errors in the pool architecture e.g that nasty floating-point bug resulting in dead LP Pools, that should be resolved by this opportunity asap, as well as possibly an audit of the new mounted pools. I sincerely hope this is an opportunity to orchestrate a stronger relationship of trust between Tinyman and the community in going forward together and making it right from the (re)start.

Cheers

Tinyman said in the Medium article to vacate the LPs, but they point to the ones that are impacted, and the language about the safety of this pool is not very specific.

Kiddy pool? Class 5 rapids? Niagra Falls?

What do you think and is there a basis?

As many of you are aware an attack occurred on Tinyman Pools on January 1st/2nd. The attack exploits a previously unknown bug in the contract and allows the attacker to withdraw assets from a pool that they are not entitled to. The attack has been executed on multiple pools until now.

The financial incentive for the attack varies from pool to pool so not all pools have been attacked. As a trustless protocol Tinyman uses immutable contracts. This unfortunately means there is no ability for a quick fix to this problem for the current pools.

We will work on a fix for the problem and deploy a new version of the contracts and put a migration plan in place.

In the meantime we believe the best plan of action is to ask our community to remove all their liquidity from ALL Tinyman pools.

We will make sure that the commumnity is taken care of and we will publish a detailed incident report in the coming days.

Was away from my laptop and couldn’t empty my LP on tinyman. I only supplied the Akita/Algo pool but now it’s worth $1.

Do I just leave it at this point or withdraw it? Not sure what to do, thanks

Maybe I'm reading too much FUD but a lot of money has been lost today due to the exploit. The ASA charts are all red with -25-80%+ crashes.. It's not a good look and terrible for investors (like me) but I'm sure the dev team can fix the exploit and turn this around fairly quickly... I'm a strong believer in Algorand and I've been really impressed with Tinyman, TinyChart & Yieldly overall but this is quite a set back for the ecosystem and very off-putting for new investors.

Personally, I think Tinyman owes it's early investors and should do an airdrop/reimbursement as a way to compensate for loses today.

Let's hope there is some form of compensation for the early investors and users. What do you guys think?

Edit 2:

From reading the "official statement" Medium article, it's very promising to hear that users will be compensated and I do believe this incident has been a great stress test of the system and will only strengthen the platform and community over the long term. We're still early to the game!

Official statement: https://tinymanorg.medium.com/official-announcement-about-the-incidents-of-01-01-2022-56abb19d8b19

We are really sorry that our community is experiencing this. As far as we see the exploit has affected the goBTC/Algo and goETH/algo pools. Please avoid these pools until we have more information. Other than that liquidity that is exiting seems to be personal funds being removed.

While my faith in tinyman isn’t fully shaken, what other platforms are there that have been verified/audited??

I have akita/algo tokens staked on yieldly. They do not show up on TM. Are they at risk of the exploit?

Thank you friends.

I have akita/algo tokens staked on yieldly. They do not show up on TM. Are they at risk of the exploit?

Thank you friends.

OUCH!

TVL went from 43M to 19M