The Current State of Rodeo Finance

Rodeo Finance has survived the hack and will be making all lenders whole in the coming weeks. The team continues to build with a security-first mindset and will continue upon the updated protocol roadmap.

August 03, 2023

After surviving a hack of the lending pool, @Rodeo_Finance have since re-launched the protocol. There are plenty of protocol developments that have happened since then, let’s dig in.

The remediation plan has a post of its own detailing the specifics, but in short all lenders are going to be made whole and bad debt will be chipped away at each week.

All farms are going through a re-verification process to ensure that users are safe from another exploit. The current farms will be listed below:

The next farms to go through the re-verification process are those from Camelot and Pendle. New farms that were previously not available through Rodeo will be added in time as well.

Speculators are most concerned with outsized gains, but security is the first priority for the team. The team is working with 2 different audit firms in reviewing the codebase. This event has been an impetus to take security to the next level and ensure a hack doesn’t happen again. Also on the team’s to-do list:

✅ Improving UX

✅ Expanding $xrDO utility

✅ Reworking Tokenomics

New Product Development Like Dopex, Rodeo will be implementing options liquidity mining with the new token $oRDO. In a previous piece I discussed this new form of liquidity mining. The perks in a nutshell:

✅ Flexible

✅ Sustainable

✅ More Cost Effective

✅ Reduces Token Volatility

✅ Dumping Mitigated

There are teams out there that would have let an exploit kill them and would have chosen to move on to the next project. Rodeo Finance continues to build in the face of adversity and not only repay those who were hurt, but pushing forward to putting in the groundwork that will allow them to dominate their market niche.

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