Derivatives Strategy Agreement D2 Finance raises five public questions about Tori Finance’s gap-filling operations for the Term Finance event. It seems there’s still quite a bit going on behind this compensation incident 🤔
The main points of the questions include:
1️⃣ Why choose to mint 250,500 trUSD in advance rather than directly using the existing USDC reserves?
2️⃣ What is the source of the collateral used to mint trUSD?
3️⃣ The other half of the funds comes from a Kraken hot wallet—does this funding path make sense?
4️⃣ The transparency page shows a buffer range of only about $17,600 (just 3 bps), far below the impact scale of 454,000 USDC in this incident. Is the buffer mechanism really effective?
5️⃣ Regarding Delta Neutrality verification, high-yield money market positions, and the specific hedging approach, Tori Finance has not yet provided clear explanations.
In the earlier Term Finance governance vulnerability incident, RockawayX Tori USDC Vault suffered losses of about 454,000 USDC. After that, RockawayX and Tori Finance announced that the losses had been fully covered. We thought this matter was finally over, but D2 Finance has directly raised five major questions—DeFi’s transparency issues really do keep lingering...
#DeFi $USDC
The main points of the questions include:
1️⃣ Why choose to mint 250,500 trUSD in advance rather than directly using the existing USDC reserves?
2️⃣ What is the source of the collateral used to mint trUSD?
3️⃣ The other half of the funds comes from a Kraken hot wallet—does this funding path make sense?
4️⃣ The transparency page shows a buffer range of only about $17,600 (just 3 bps), far below the impact scale of 454,000 USDC in this incident. Is the buffer mechanism really effective?
5️⃣ Regarding Delta Neutrality verification, high-yield money market positions, and the specific hedging approach, Tori Finance has not yet provided clear explanations.
In the earlier Term Finance governance vulnerability incident, RockawayX Tori USDC Vault suffered losses of about 454,000 USDC. After that, RockawayX and Tori Finance announced that the losses had been fully covered. We thought this matter was finally over, but D2 Finance has directly raised five major questions—DeFi’s transparency issues really do keep lingering...
#DeFi $USDC