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OrbitLending, a leading decentralized application on the Blast L2 network and a 'Big Bang' winner, recently faced a significant operational hiccup when users reported being unable to withdraw funds from over $350M+ locked in contracts. The platform, which is nearing $1 billion in total value locked (TVL), encountered this issue following an unaudited update pushed by the development team, leading to a disruption lasting about 10 hours. The problem was attributed to a reset in $ORBIT reward emission rates linked to withdrawals in the Compound V2 contracts. OrbitLending's team, described by a user as 'Absolute clowns', responded by implementing a fix, assuring that the maintenance and issue did not affect users' funds. The incident has raised concerns about the platform's operational practices, especially the decision to push updates without prior audits.
Today Orbit (one of the largest dapps on Blast) had a short period where funds could not be withdrawn. Orbit claimed the issue was "related to an Orbit reward emission update" and "the issue does not affect users funds". Everyone has since been able to withdraw funds. Many… https://t.co/M6qx0sOqSi
Today Orbit (one of the largest dapps on Blast) had a short period where funds could not be withdrawn. Orbit claimed the issue was "related to an Orbit reward emission update" and "the issue does not affect users funds". Everyone has been able to withdraw funds and it… https://t.co/pXV8F9PVdc
The issue was caused due to a standard reset in $ORBIT reward emission rates for some users that were experiencing problems In the Compound V2 contracts, withdrawals are linked to the token emissions- during a withdrawal, the user's token rewards also get an update However… https://t.co/hj0gLKbven
