SURFing the TITAN Tsunami

The Iron Finance TITAN Incident

  1. A few large liquidity providers (whales) started removed liquidity from IRON/USDC, and instead of redeeming the IRON, they sold for USDC causing the price of IRON to fall.
  2. This in turn caused users to start redeeming IRON and selling the newly minted TITAN in mass. Note: Redeeming IRON caused TITAN to be minted, while minting IRON caused TITAN to be burned.
  3. This caused a downward spiral that was further exasperated by an arbitrage opportunity to redeem IRON and sell the minted TITAN. The arbitrage opportunity was caused by a difference in the market price and the oracle price used by the contract to mint TITAN.

The TITAN is our DOGE Movement

TITAN on polyWAVE

  1. The Gitbook was updated to reflect the current state of SURF.Finance.
  2. The SURF.Finance team helped tech/coding guru and influencer Matt Upham launch his new LMAO token on Ethereum. (Which you can single asset stake on both Ethereum here, and polyWAVE on Polygon here).
  3. The launch of the absolutely amazing SURF Dashboard.
  4. An action adventure arcade game in the SURF Universe called Tide Rider — The Legend of SURF.
  5. The launch of polyWAVE, SURF Finance’s innovative new farm on Polygon.
  6. And more to come . . .

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Yostari

Avid Gamer | Economics Geek | Decentralization Enthusiast

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