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  1. Pinned Tweet
    Dec 10

    1/ At 08:43:37 PM on December 9th (UTC), the Anchor Oracle Price Feeder registered a price of $58.44, significantly lower than the reported price on exogenous exchange venues, quoted as ~$66.10 on Binance’s LUNA/USDT pair at the time.

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  2. 9 hours ago

    Reminder to cast your votes on Prop 9 with your under the "Govern" tab of the Anchor web app and let your voice be heard!

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  3. Retweeted

    ⚓️ As an avid user of , I have been able to get exposure to the price of liquid staking derivatives like bETH and bLUNA while borrowing UST. ⚖️ But in order for this to continue working, we have to be able to rely on the UST peg! 🚪 Enter . 🐳

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  4. Retweeted

    Before you lock up your ANC on please vote on You will still have time to lock your ANC up by the time the vote expires.

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  5. Retweeted

    yield reserve since Aug 1st 2021 😎

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  6. Dec 13

    Prop 9 to reduce the deposit requirement for submitting on-chain vote proposals from 1,000 --> 100 ANC is now live for voting. Cast your votes in the link below on the "Govern" tab of the Anchor web app:

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  7. Dec 10

    16/ Other options may be available and we encourage the community to explore them openly. Please direct your feedback to the Anchor forum post in the link below Thank you for your patience and understanding on this matter, and we look forward to providing more information soon

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  8. Dec 10

    15/ We encourage the community to create a governance proposal to compensate the affected users of this oracle pricing issue via allocations from the community pool, where we have also copied this thread as a forum post on Anchor in the link below:

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  9. Dec 10

    14/ Including the liquidations from the following 2 oracle price discrepancies, which are smaller, the final total will likely be closer to $9 million. We’ll have a more precise figure once we’re finished calculating per borrower contract balances at different block heights.

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  10. Dec 10

    13/ The total to reimburse affected users: bLUNA repay = 37,249,938.26 bETH repay = 359,251.19 Total repay = 37,249,938.26 + 359,251.19 = $37,609,189.45 To reimburse: 46,247,494.37- 37,609,189.45 = $8,638,304.92

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  11. Dec 10

    12/ bETH value + bLUNA value = $46,247,494.37 Reimbursing any liquidation premium and price discrepancy gap for the faulty price would take every liquidated position back to neutral. For example: Total value liquidated - Sold off liquidation = Amount to reimburse.

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  12. Dec 10

    11/ Using the average price from the bLUNA oracle of ~66.35 for the affected collateral immediately before and after the initial price discrepancy, we can calculate the following.

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  13. Dec 10

    10/ We’re currently querying the individual borrower state by block height for the event, but the general calculations of the event are below.

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  14. Dec 10

    9/ That part is notable as many users claimed bETH was also affected by the oracle feed mishap. However, bETH liquidations for those users were a consequence of also having a bLUNA position open -- which was the only collateral affected by the faulty oracle price.

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  15. Dec 10

    8/ First, a subset of the 242 affected borrowers on Anchor had open positions for both bLUNA & bETH -- totaling 102.74 bETH ($0.359M total discounted value at trigger price). These users were liquidated for both bLUNA and bETH since liquidation is proportional.

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  16. Dec 10

    7/ We will release more details about the precise mechanics of the issue once we’ve concluded our investigation into the error. Concerning the affected users, there are several important notes and remedial steps to consider.

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  17. Dec 10

    6/ The new price feed structure sources prices from Chainlink’s venerated oracle network + the Anchor Hub Contract, which precisely tracks the LUNA/bLUNA ratio since all bLUNA minting passes through it.

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  18. Dec 10

    5/ Of note, we have an impending governance proposal to migrate the Anchor Oracle Price Feeder and replace it with a combination of the following: - bLUNA/LUNA * Chainlink -- to use the primary source of price of bLUNA from the Chainlink price oracles

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  19. Dec 10

    4/ We’re currently investigating the precise source of the issue, and in the meantime, have implemented a patch fix for the Anchor Oracle Price Feeder to mitigate any further discrepancies.

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  20. Dec 10

    3/ Two additional price discrepancies occurred subsequently, approximately 30 mins apart from the original event. These events triggered 3 total liquidations. However, the bulk of affected liquidations occurred immediately after the initial price discrepancy.

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  21. Dec 10

    2/ The inaccurate price reported by the Anchor Oracle Price Feeder caused erroneous liquidations for 239 users who had open borrow positions below the max LTV of 60%. In total, ~690,727.489 bLUNA (~$37.249M total discounted value) were liquidated.

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