PANews|Oct 21, 2026 00:58
[Lulo's Boost Deposits to Retract by Approximately 6.4% Due to Exposure to Neutrl Finance]
Lulo announced that its Boost deposits will experience a retraction of approximately 6.4%. The reason is that Boost's yield strategy utilized the synthetic dollar protocol Neutrl Finance on Ethereum. Lulo stated that the impact is limited to Boost. Boost was originally designed as a product to take on risks for Protected deposits, so the principal of Protected deposits remains unaffected. Neutrl's strategy positions incurred losses, reserve liquidity was impaired, and redemptions were subsequently opened at a ratio of approximately $0.51 per $1, meaning holders can recover about half. Lulo emphasized that this incident was not caused by a hack or exploitation of a smart contract vulnerability, and further updates will be provided.
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