Malt Protocol

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Some #ALPHA, but #DYOR When I wrote a thread on rugpulls, I mentioned that if a protocol owns up to its mistake and tries to make up for it, the crypto community is typically forgiving One of these is @MaltProtocol, an algorithmic stablecoin which gives you returns for holding

You put DAI in to mint MALT. They have multiple mechanisms to maintain peg They launched v1, and lost money due to a bug in their smart contract When the dust settled, they had ~$14mn+ left in their account That is a lot of money ... but they didn't rug

Instead, they returned this money to make up for their losses. Eventually, people made back 74% of their loss (medium.com/malt-protocol/malt-reimbursement-plan-5eb1917547d0) Additionally, they were also given priority wl to invest when v2 was launched This v2 launches on 7 May.

You can still bag a WL on their discord (discord.gg/3uexKYBDUa) due to giveaways HOWEVER, even if you do not get a wl (and if you decide to invest), be one of the first when it launches. Early APRs should be high if it does well (21k% for v1 with TVL of $60m) Again .. #DYOR

100k code4rena contest audit results here: code4rena.com/reports/2021-11-malt/. They said all issues have been fixed They are committed to decentralization although the founder has said he won't tokenise just for the sake of it (docs.malt.money/roadmap/governance)

Disclosure: I own a significant wl and have a vested interest in Malt's success Although let's face it... unless some whale is investing based on my advice here, the rewards from your investments will not be ... umm... material ;)