what's 9Summits?
9Summits is a DeFi protocol specializing in curated yield vaults and capital efficiency strategies within the crypto ecosystem. It leverages infrastructure from partners like Lagoon Finance and Euler Finance to create optimized vaults, such as the fxUSD Earn Vault, which enable users to supply or borrow assets like fxUSD for real yield generation. The protocol emphasizes looping mechanisms, where users can borrow against supplied collateral to amplify returns, while maintaining high loan-to-value ratios through correlated collateral and debt tokens. Key features include automated rebalancing of vault exposures to drive borrowing demand, integration with lending markets for up to 95% LTV, and reward distributions in native tokens like FXN. 9Summits handles distributions and airdrops seamlessly, ensuring no user interaction is needed for claims, and focuses on institutional-grade custody and risk-adjusted returns in DeFi.
Resolv Labs exploit on March 22, 2026, caused $1.7M USDC vault losses.
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x.com/nine_summitsExposed USDC vault to approximately $1.7 million in losses from the Resolv Labs exploit on March 22, 2026, after an attacker minted 80 million unbacked USR tokens using a stolen private key, causing USR stablecoin to depeg from $1 to approximately $0.025.
Participates in DeFi risk management panel alongside SteakhouseFi, SparkFi, AllezLabs, and bprotocoleth, hosted by Silo.
Partners with Lagoon Finance for vault-as-a-service infrastructure that integrates Rayls Labs privacy features across multiple asset types including WETH, cbBTC, USDC, and USN.
USDC Turtle product yields 9.1% supply APR on Silo platform on Avalanche as of November 17.
Launches new vault in partnership with YT-fxSAVE project, distributing 100 $FXN tokens to vault depositors on top of YT yield, with deposits locked until YT expiry date.
Protocol achieves 501% TVL growth in June 2025, ranking 6th among fastest-growing projects.