few.
@fewhodl
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Less is more. Building @ProtocolRing
Earth
Joined August 2019
We’re sorry about the recent SPELL/MIM exploit. However, DETH is fundamentally different from MIM. DETH has never been promoted as a stable token. Users have never been able to redeem using only DETH. As clearly stated in our documentation: “At withdrawal, an equivalent amount
Picture this situation - Danny is the founder of Spell / MIM - He puts ETH into spell, and mints MIM - He clicks a scam link and gets his MIM stolen - The hacker sells his MIM for USDC and runs away - Danny wants his eth back, instead of buying MIM and paying off his debt, he
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As an expert, you should know that knowingly buying stolen goods is illegal.
As the "so-called KOL" in this situation, I can't wait for the criminal and civil cases that will come out of this if he doesn't sort things out immediately. This guy was rugged, which sucks but is his problem, and basically the response to him being rugged is to rug his holders
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It is time to revisit and explain how Ring Protocol operates.
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I’m not backing down. I’ll keep pushing to protect our community, recover what’s lost, and make sure this ecosystem stays strong.
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Rest assured, ALL user funds are SAFE. Duo is fully backed and always redeemable 1:1 for ETH on open positions. Ring liquidity providers can also manage their funds as usual.
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We, along with SlowMist, have been closely tracking the hacker, and we have records of these transactions. Everyone involved—whether the hacker or those knowingly trading stolen assets—will be held accountable. We urge you to return the stolen DETH now.
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Let me clarify the situation: • The DETH-ETH liquidity pool was created specifically for looping. This meant we were sacrificing our own ETH to support the DETH-ETH LP pool. • Duo was designed for users to open positions—those who didn’t open a position did not earn any points
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To those speculators who bought DETH during the hacker’s dump—you are actively aiding the hacker in illegally moving and laundering stolen funds.
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After the DETH hack, we silently ate millions in losses to support the ETH-DETH liquidity pool. Meanwhile, affected DETH holders have had their positions locked in Duo Protocol. Fortunately, we've found a way to recover those positions and minimize the damage.
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This has crossed the line—Recently, some so-called KOLs tried to intimidate and pressure me by threatening to public expose and dox my identity. It is a serious violation of my privacy and personal safety. Whoever is behind this needs to stop immediately, or I’ll take legal
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Ring has landed on the @blast App Store! 🚀 Seamless trading and earning on $BLAST—now just a tap away. Your gateway to onchain action just got a mobile upgrade. 🔥
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Like it or not, @PacmanBlur is building something I genuinely vibe with. $Blast
We’re combining Arcade Research and Blast Foundation operations into a single streamlined structure run by @PacmanBlur. Blast is made in the US and we will support the burgeoning crypto market in the USA. With this change, we’re introducing Blast Mobile and over 50% APY on USD!
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Looking forward with our community’s support. If there’s a way to recover the loss from the hacker, we’ll work hard to re-peg DETH. The support and understanding from the community mean a lot, and we’re fully committed to keep building and strengthening protocol resilience
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The false speculations are being spread by arbitrageurs who purchased DETH after the hack, hoping to profit from a potential re-peg. It’s crucial to understand that DETH minted on Duo is fully backed and can always be redeemed 1:1 for ETH on open positions. Everyone affected by
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Ring Protocol was built with DAO governance from the start. We’ve prioritized decentralized governance since day one, and you can see all governance actions on Tally https://t.co/nh6bKVT9RS. Some have raised questions about our approach to asset minting, but this is simply our
tally.xyz
Ring Protocol proposals and contributors
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I’ve always been open about my involvement. From day one, I’ve been transparent that I’m the builder behind @ProtocolRing and co-builder of @DuoExchange . That said, these are two completely separate operations.
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After going through a tough hacking incident that suffering a significant loss, I’ve made the choice to focus on building and moving forward, rather than getting stuck in the past. However, there have been some rumors floating around, and I want to clear things up.
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