what's Notional Finance?
Notional Finance is a decentralized finance (DeFi) protocol that enables fixed-rate lending, borrowing, and leveraged yield strategies on Ethereum and Layer 2 networks like Arbitrum. Users can deposit assets to earn fixed or variable yields, borrow at fixed rates for predictable cash flows, and leverage positions for amplified returns. The protocol uses novel mechanisms like fCash (fixed-rate cash) and nTokens (yield-bearing assets) to facilitate off-chain-like fixed-term markets on-chain, with support for collateralized lending and liquidity provision.
ResolvLabs exploit affects $mAPOLLO users; Apollo communicates impact details.
Paused the $mAPOLLO vault due to Resolv Labs exploit. Potential losses uncertain; vault remains paused until resolved.
Launched a new bug bounty program with a $250K maximum payout for Notional Exponent, a leveraged yield protocol focused on capital efficiency.
ETH lenders face exact haircuts of 56.019% on Mainnet and 19.244% on Arbitrum after protocol reserves (~$100k ETH and ~$366k non-ETH across both chains) are used to partially cover the bad debt. Future asset recovery remains possible if Balancer recovers funds from authorities, which would be distributed proportionally to affected users, while the team determines a path forward for the project.
V3 protocol winds down on Mainnet and Arbitrum due to Balancer hack damage totaling 641.4 ETH on Mainnet and 80.2 ETH on Arbitrum, with affected Balancer/Aura vault users facing 100% losses, ETH lenders/LPs facing significant haircuts, and cross-currency borrowing positions auto-migrating to Aave.
Balancer V2 hack impacts some Notional vaults which are now paused while the team assesses damage.
Exponent Beta launches with 6-week duration, featuring 4 new leveraged yield strategies and 100,000 $NOTE tokens in incentives.
World's first leveraged yield protocol launches under name 'Exponent'