EURC price

⚡️ NEW: Stablecoins were designed for fast, seamless payments, but many chains still fall short on speed, cost and usability. Can infrastructure catch up to stablecoin demand?

"Withdraw first, analyze later" - the four wise words which protected, and continue to protect, users. These last few days demonstrate the incredibly important role of active risk management from @BlockAnalitica on the Lazy Summer Protocol, and automated Keepers powered by @summerfinance_ to protect users during difficult times. Last Thursday (30th October), at the first signs of trouble for xUSD, BlockAnalitica reduced the risk caps for affected markets to 0. They didn't wait to see if anything bad happened, they acted quickly and decisively. Setting a underlying markets risk cap to 0 on the Lazy Summer Protocol instructs the keepers to immediately withdraw all available liquidity from the market, and if the deposits are greater than the liquidity, to monitor and remove the rest soon as some becomes available. For example, below is an image from Friday of the live rebalances of the keepers removing liquidity from Eulers MEV Capital USDC market on Sonic as it became available. By moving quickly, all the xUSD exposure was removed as of yesterday (Monday 3rd Nov) morning UTC. This means, when Stream Finance posted earlier today that they have lost $93M in fund assets though fund manager managing their assets, @summerfinance_ users were not affected. As always though, things move fast in DeFi, and things continued to develop and @BlockAnalitica stayed on top of the risk management of the Lazy Summer Vaults. As news that other tokens, in particular mHYPER, yUSD, rUSD, deUSD, mf-ONE, scUSD (and their respective derivatives) could be exposed (not clear if they are or not), BlockAnalitica reduced more caps to 0 - following their approach to all their risk management "Withdraw first, Analyze later". And just this morning UTC (Tuesday 4th Nov) - as Moonwell reported issues with their core markets (not Morpho Vaults) - BlockAnalitica took immediate action to reduce the caps to their markets to 0 too. This again triggered the Keepers of the Lazy Summer Protocol to remove all available liquidity from the affected markets as soon as it could. As of now, Moonwell USDC has been exited in full, however Moonwell EURC continues to have some exposure while liquidity remains close to 0 on the market. Around 19% of the EURC in the Lazy Summer Vault is currently exposed to Moonwell. In summary though, users in @summerfinance_ and the Lazy Summer Protocol were protected by quick thinking and reactions of @BlockAnalitica and the automated Keepers. As was shown with Balancer yesterday, no protocol is 100% safe from exploits - regardless the amount of Audits. But by depositing through you 1) limit your exposure to any one protocol or market, and 2) have the safety net of an active risk manager that is more likely to come across issues, or understand the potential issues before you do manually. Be safe by being lazy and outsource the risk management of your DeFi positions to experts... use Stay safe ✌️