According Odaily: Concave Finance's recent attempt to return $2.1 million to investors from its treasury, known as "rage quitting," has faced major issues. The settlement, which was supposed to enable dozens of investors to participate, saw a small number of savvy investors claim all USDC within just 30 minutes, leaving the majority empty-handed. The issue stemmed from double counting errors in the smart contracts utilized for the claims process, allowing early claimants to receive all funds.
The mishap has been attributed to bad code and poor communication. Concave Finance admitted to the plan's failure and promised to publish a post-mortem analysis. Since its launch, Concave Finance's TVL has dropped by 96% to $518,000, and its native token CNV has followed a downward trend since April last year, temporarily trading at $3.64.
