To Yield Protocol Private Sale Participants

Dear Yield Protocol community

Despite being audited by three audit firms (RD Ventures, Hacken, and Certik), 4 DAO Maker’s vesting contracts with no burn feature were exploited last night.

Yield Protocol vesting contract was not affected by this bug as our vesting contracts have a burning feature. However, the DAO Maker team decided to stop all smart contract operations indefinitely to ensure the guaranteed safety of our investors and the well-being of our company.

Companies that were affected are DeRace, Showcase, CoinsPaid, and Ternoa. All the other projects, including Yield Protocol, are safe and not affected. Yet even though 3 audit firms could not find this problem, they decided that they can never be sure that the other contracts are 100% safe.

Moving Away from Vesting Contracts:

Following the event, the DAO Maker team decided to shut down all vesting contracts, including the Yield Protocol contract, which is currently not in danger. Together with the DAO Maker team, we will proceed with “Withdrawing” our investors’ tokens from the vesting contract on this date: 5th September. Tokens will get withdrawn to the secure wallet owned by us.

We do not want to risk our vesting tokens on any smart contracts. Future distributions will be conducted manually via disperse. The Tokens will be held on a multi-signature wallet until the unlock dates. The remaining unlock schedule will continue as planned, and all investors will get all their tokens distributed on time.

Stay safe!

Yield Protocol Team

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Yield Protocol

Yield Protocol ($YIELD) is an open-source platform allowing anybody to create and execute yield farming & trading strategies on the Ethereum DeFi ecosystem