ChainCatcher news, the DeFi lending protocol OpenLeverage sent an on-chain message to the attacker stating that if the attacker returns the funds, they are willing to offer 20% of the stolen funds as a bounty.ChainCatcher previously reported that according to monitoring by PieShield, OpenLeverage was attacked, resulting in a loss of approximately $236,000.

ChainCatcher message, OpenLeverage posted on platform X stating that the OpenLeverage protocol is paused and an investigation is ongoing. The accumulated insurance and buyback funds should be able to cover the losses. D1 is not affected.According to previous reports, monitoring by Shield indicated that OpenLeverage was attacked, resulting in a loss of approximately $236,000.

ChainCatcher news, according to monitoring by Shield, OpenLeverage has been attacked, resulting in a loss of approximately $236,000.

ChainCatcher news, the DeFi lending protocol OpenLeverage has initiated a vote on the OLIP-10 proposal, which aims to improve its existing interest rate model and enhance its responsiveness to market fluctuations. The proposal states that due to the recent increase in market volatility, the current model has raised the maximum annual interest rate by 20%, which is no longer sufficient to keep up with market changes. The new proposal adjusts the maximum interest rate settings to respond more flexibly to fund utilization rates. When the utilization rate of each fund pool reaches the critical value of the interest rate model, the maximum borrowing rate will increase by 20% every 12 hours. This process will continue until the maximum reaches 2000%. Conversely, when it falls below the critical value, the maximum rate will decrease by 30% every 12 hours until it reaches a predefined minimum.It is reported that the new model ensures that interest rates respond in real-time to changes in utilization rates, adjusting the interest rate curve according to market conditions. Expected benefits include: market-responsive rates, with interest rates able to quickly adjust to changes in utilization, accurately reflecting market fluctuations; balancing supply and demand, with dynamic adjustment strategies maintaining the balance of the lending pool, thereby preserving market liquidity. After the proposal is approved, there will be a period of testing and gradual implementation to minimize potential risks.