Crypto Asset Manager Babylon Finance Will Shutdown After Failing to Recover From Rari Hack

Osmosis to Cover Possible $5M Exploit Loss; Chain to Remain Halted for 2 Days

As such, the Babylon team was vying to reach $50 million in user-supplied assets, following which it would become sustainable due to the fees charged to users in return for the yields offered. The Rari exploit, coupled with a steep fall in BABL token prices, led to “the point of no return” for Babylon as a sustainable protocol, said.

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