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55487923 No.55487923 [Reply] [Original]

If you still have assets get them off of FTM if you can. Anyway you can. If you have FTM on FTM, send them to a CEX and dump ASAP.

Multichain bridge was exploited and is likely the end of the network. Virtually all assets being drained of backing.

>> No.55487940

>>55487923
what fucking bridge can i use, ive got heaps of multiusdc fuck my life. cant use cex

>> No.55487952
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55487952

>>55487923
Time to die FTM niggers

>> No.55488015

>>55487923
>max fud
bullish

>> No.55488053

explain to me why fantom is over because of this one bridge being fucked?

>> No.55488059
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55488059

>>55487923
it's probably nothing, kek

>> No.55488126
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55488126

>>55488053

>> No.55488205

>>55487923
Get off ethereum too

>> No.55488250

>>55488015
shut the fuck up faggot

>> No.55488278

>>55488205
Most assets on ETH are native, I don't think people have much to worry about there.

>>55487952
AVAX unironically does have some native stablecoins, so not the worst chain to be on rn.

>>55487940
I honestly don't know. I saw someone offering to swap for a 12% haircut. Not sure what he meant by that. So maybe there is some willing buyers.

is there anyway to swap MutliUSDC for FTM? Then use some other bridge to do FTM to ETH mainnet? then sell the eth on eth mainnet for eth or ur coin of choice? Then bridge to another chain. Might be useful to try out some bridge aggregators.

>>55488059
>>55488053
It's probably over because this was seriously over half the entire chain's TVL. Also, it could be an inside job since the multichain team was behaving poorly before/being erratic. Wouldn't be surprised if they collaborated with FTM ppl to do an inside job.

>> No.55488311

>>55488278
i bridged out with mim on the squidrouter bridge. lost ~15-20% like a retard converting everything to mim and bridging but best i could find

>> No.55488320

>>55488311
honestly not that bad. People might lose a lot more.

>> No.55488783

Most of my portfolio is in fantom and being staked kek. It's over for me bros

>> No.55488872

>>55488783
FTM is fine. It's time for MULTI to die.

>> No.55488917

>>55488783
You'll be fine, it was Multichain got hacked, not Fantom chain.

>> No.55488982

>>55488917
Still could be a long term deathblow to the chain. There is very little they will be able to do to get people back to the chain. Other chains have had "just" a bridge hack, and it went really poorly.

Assets get all fucked up, which takes weeks if not months to fix. (For example bridged stablecoins might trade at 80 cents for a long time, which makes DeFi unappealing to use there.)

Then there is talks of maybe a repayment plan or something like that, but it really shouldn't be on fantom foundation to repay that kind of hack. And I don't think they have THAT big of a treasury. This hack was over 100 million dollars.

There is also information out there indicating that fantom treasury was LPing in multichain.

>> No.55488991

>>55488783
I would probably unstake and sell desu. Find other coins that are down and buy those. There are much better bets than FTM right now.

>> No.55489012

>>55488991
Name 3

>> No.55489171

>>55489012
Anything that has actual fees and traction. Alt L1s are the most overpriced crypto asset aside from NFTs.

>> No.55489672

buy fbomb instead, it uses layer zero

>> No.55489820

>>55489171
currently looking into some cryptos that are actually profitable, asides from GMX and the like what else do you suggest?

>> No.55489884

fantom PUUUUUUUUUUUUUUUMP

>> No.55489893

>>55489672
I unironically bridged out using bomb kek

>> No.55489901

>>55489893
kys

>> No.55490058

>>55489820
GMX makes money - 30% of fees go to stakers
SNX makes money - 100% of fees go to stakers, seem to have a really good system now with other front ends integrating them

AAVE is ok, it makes money, has some good catalysts such as stablecoin release and potential cross chain narrative once they integrate CCIP teleporters. The money aave makes right now goes to the dao though.
LIDO is ok. Potential to make money and fees currently go to the dao i believe. Good network effect and the front runner for LST

Stuff with good PMF/building PMF but no confirmed cash flow:
Uniswap has good PMF, but fee switch likely won't be turned on any time soon.
LINK has good PMF, not real great tokenomics atm tho, might be better in a yr or two
LYRA has good PMF, number one options protocol fees not turned on though for stakers, might in the future
RBN is a protocol building PMF and has some unique offerings as a dapp chain and the DAO probably makes a few thousand a day from the options selling

Getting any of this stuff with PMF but no confirmed cashflow to cashflow, would be a lot easier than getting virtually any Alt L1 to the same state.

>> No.55490140

>>55490058
I’ll have a look into them. Hopefully something small in there with some room to grow, would love GMX or SNX but i feel like i’ve missed the boat.

Was looking into hegic, seems to generate some decent yield for it’s market cap. Also hold some unidex but sure how that will play out

>> No.55490175

>>55490140
I owned UNIDX for a while, but it felt like fees were really low when I purchased it. And I didn't feel like growth would take off. I don't think growth took off but price appreciated a lot.