Investigating Apollo USDC.muti Liquidations

We wanted to let the community know of a parameter change error resulting from MIP 14. The intent of MIP 14 was to adjust the CF of USDC.multi to 64%. Gauntlet is investigating and will suggest next steps ASAP.


A proposal has been deployed to fix the error here:

Gauntlet is:

  • Monitoring Apollo markets to ensure that there are no further issues before this proposal passes and sets the correct collateral factor
  • Working with other stakeholders in the community to understand the impact of this issue and present options to the community on how we can move forward
  • Putting together a full post-mortem and incident report to ensure its clear what happened and how this can be prevented in the future

Another update here:

  • Further monitoring for Apollo markets is active
  • We expect to complete an impact analysis by Tues 12/27 and will share more detailed information on how users were affected then
  • We’re optimistic that we can find a resolution here that will mitigate the impact felt by affected users and will share more after we complete the aforementioned impact analysis