Ethereum (ETH) options issuance platform Opyn has launched two new put contracts, only a few weeks after it suffered a hack that saw $371,000 siphoned. The team announced on August 21 that it had thoroughly stress tested and vetted the protocol.
- Opyn is assuring investors that it has “stress tested the protocol, implemented robust monitoring, reviewed our internal testing processes”
- The Opyn platform was quick to attract investors and quick to lose them following the attack, which occurred on August 4
- An attacker exploited a bug in the code on, which resulted in the lost of $371,000
- Open Zeppelin has audited the contracts
- The two new contracts must be collateralized in USD Coin (USDC); investors can keep the premium and collateral if the asset stays above the strike price by the date of expiry
- The oYFI contract has a sell price of $8500 with an expiry date of September 18, 8:00 AM UTC
- The oWETH contract has a sell price of $400 with an expiry date of September 4, 8:00 AM UTC
Related Reading:
- Opyn raises $2.1 million in funding led by Dragonfly Capital
