Down Goes Dexter!!!
Sorry We're Closed, Come Back Later

Down Goes Dexter!!!

By scubiedoo | mycryptolife | 21 Feb 2021


I have been using Dexter for over 5 months now and regularly check on the status of my stake in the XTZ/tzBTC pool.  To my surprise yesterday morning (Sat., Feb. 20th), I started receiving a 404 error (page not found) while doing my regular pool review.  At first I figured the service was down for maintenance or for some other perfectly legitimate reason, but then I also noticed that my Thanos wallet balance had also increased by about the same amount that I had invested into the Dexter pool.  At this point I figured something was up and went to the main dexter page (https://dexter.exchange) and discovered that they had actually replaced the service with a notification as follows:

       "For information about Dexter please see the following statement.

       — camlCase"

So it appears the camlCase team was informed by Nomadic Labs of a serious flaw in their smart contract(s) within Dexter.  See the article for full details:  https://camlcase.medium.com/statement-on-dexter-eaa7eecd2147 

While it is disappointing to see another project suffer from some of the same issues we've seen on other platforms, cudos to the camlCase team for quickly acknowledging the issue and taking proactive measures to return funds to their client(user) base before something really bad could have happened.  Best of luck to the camlCase team - I hope they can quickly correct the flaws within Dexter and bring the service back online soon.

I originally wanted to try Dexter to take advantage of the lower transaction feeds using XTZ.  I had been playing around with some of the ETH based services but the gas fees were becoming too high for the dollar amounts I wanted to experiment with.  Once Dexter is back online I definitely plan to jump back into the service!

While waiting for Dexter's return, I have been looking into some other services that I think are interesting:

   1) RampDEFI - https://rampdefi.com/ - Staking my Tezos (XTZ) tokens in rStake. Will do an article once I have more experience with this service.

   2) APY Finance - https://apy.finance/ - I am parking some USDC tokens here to see what the results are. 

  3) Celsius - https://celsius.network/ - Been using this for awhile - love the APR for all the tokens I am sitting on for longer term.

I hope this helps anyone that has been using Dexter - stay vigilant out there!

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scubiedoo
scubiedoo

Exploring the vast world of Crypto - and trying to figure out what's real and what's BS, kind of feels like we are in the Matrix. Hoping to realize some gains along the way!


mycryptolife
mycryptolife

Sharing some of my experiences dealing with the crazy world of crypto!

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