

Wombat Exchange Reopens HAY Sidepool Following Ankr Exploit



The HAY Side Pool on Wombat Exchange is operating normally again. Meanwhile, Ankr said it is working with Helio to repay $15 million in bad debt.
Wombat Exchange has reopened its Side Pool for HAY and BUSD as Helio Money continues to recover from the $15 million exploit of Ankr Protocol.
The withdrawal feature of our Side Pool ( $HAY & $BUSD) is resumed
— Wombat Exchange (@WombatExchange) December 7, 2022
Users can swap, deposit, and withdraw as usual.
However, the BNB Chain stableswap and staking platform said its BNB Pool, featuring liquid BNB tokens from Stader, pSTAKE and Ankr, remains “on pause.”
For its part, Ankr said on Twitter that Helio will immediately cover the $15 million loss, and that Ankr will purchase $HAY over time using a $15 million recovery fund while working with Helio to repay the bad debt.
2/ For users concerned about @Helio_Money’s situation:
— Ankr (@ankr) December 6, 2022
Helio will cover $15M estimated bad debt resulting from the exploit.
Ankr will acquire $HAY overtime on the market using the $15M recovery fund while collaborating with Helio to participate in the repayment of the bad debt.
What is Wombat Exchange:
Wombat Exchange is a multi-chain stableswap focused on fueling DeFi growth and promoting its product’s scalability, accessibility, and efficiency in the multi-chain space. The protocol allows users to swap stablecoins at minimal slippage and stake at maximum yield.
For more information about Wombat Exchange, visit the following media links:
Website | Twitter | Discord | Medium | Telegram
What is Ankr Protocol:
Ankr is a decentralized Web3 infrastructure for a better Web3 world. The protocol provides the most powerful multi-chain toolkit to access blockchain infrastructure, earn yields, and integrate DeFi solutions.
Where to find Ankr Protocol:
What is Helio Protocol:
Helio Protocol is a decentralized over-collateralized lending and liquid staking platform on the BNB chain. HAY is the protocol’s native destablecoin over-collateralized by BNB and is redeemable for US $1 worth of BNB. Its use cases include borrowing HAY at a collateral ratio ~152% (~66% LTV) by depositing BNB as collateral on the protocol, liquidity mining on LP DEXes, a means of payment to transfer value for goods & services.
To learn more about Helio Protocol, visit the following links:
Twitter | Discord | Telegram | Website | Whitepaper
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Related News


Ether Futures ETFs Hit the Market: ProShares, VanEck, and More Offer Options

This marks the first-ever ETFs based on ether futures, following the introduction of the first bitcoin futures ETF two years ago.
Summary
- A range of exchange-traded funds (ETFs) targeting the performance of ether futures have been launched.
- These offerings mark the first-ever ETFs based on ether futures, coming almost two years after the introduction of the first bitcoin futures ETF.
In a significant development for the crypto industry, a range of exchange-traded funds (ETFs) targeting the performance of ether futures have been launched. These offerings mark the first-ever ETFs based on ether futures, coming almost two years after the introduction of the first bitcoin futures ETF.
Renowned for launching the first U.S. bitcoin futures ETF, ProShares leads the charge with the launch of the ProShares Ether Strategy ETF, along with two additional offerings that provide a blend of exposure to both bitcoin and ether. ProShares’ CEO, Michael L. Sapir, expressed optimism about the appeal of these crypto-linked ETFs to investors, stating, "We think that many investors who are interested in cryptocurrencies but are concerned about custody risks, or who are challenged by the learning curve and complexities required to buy them directly, will be attracted to our crypto-linked ETFs."
Bitwise also joined the fray with two ether futures ETFs: the Bitwise Ethereum Strategy ETF and the Bitwise Bitcoin and Ether Equal Weight Strategy ETF.
VanEck, a prominent asset manager, has also entered the arena with the VanEck Ethereum Strategy ETF. This ETF is designed to target capital appreciation by investing in ether futures contracts, providing investors with an alternative path to participate in the robust futures market centered around Ethereum.
Additionally, the VanEck Ethereum Strategy ETF has also entered the market, “designed to seek capital appreciation” through ether futures contracts. As highlighted by Kyle DaCruz, Director of Digital Asset Product at VanEck, these offerings provide a means for investors to tap into the robust futures market surrounding Ethereum.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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