V2 #33
2025-11-18 20:57
OpenCover filed this claim on behalf of the claimant, who originally purchased their cover through OpenCover. Onchain proof of loss was provided along with the incident details for this claim. The claimant had a leveraged position in the MEV Capital Sonic Cluster in Euler v2, where they deposited WETH into the MEV Capital Sonic Cluster WETH Vault and used that WETH as collateral to borrow scETH in the WETH/scETH market in the MEV Capital Sonic Cluster. The claimant could not withdraw their WETH because the assets used to borrow the WETH in those markets was impacted by the Stream Finance blow up. Bad debt had occurred and an unrealized loss had occurred because fixed-rate oracles were used. The impaired assets in question were related to Treevee (formerly Rings), whose scETH snd scUSD assets were 93% exposed to Stream Finance. These vaults and markets were included in the Annex at the time the cover was purchased. The Claims Committee compared this evidence against the Multi Protocol Cover Terms and determined this claim was valid.
2025-10-08 10:14