A Post-Mortem of the Rari Re-entrancy vulnerability and Paths forward for Rari & Swivel

Announcing The Launch Of Swivel’s FEI Market On Rari’s FeiRari Pool (Pool 8)

Announcing The Launch Of Swivel’s FEI Market On Rari’s FeiRari Pool (Pool 8)

We’re now LIVE: https://mainnet.swivel.exchange

The growth of money-markets like Compound, Aave & Yearn as well as newer entrants Rari and Euler has led to a new yield landscape that provides access to increasingly interesting and complex yield strategies.

With the recent launch of our Guarded Mainnet, we’ve seen an increase in interest in our token and in its purpose, as well as curiosity about our upcoming governance structure.

Since ETHDenver 2020 we have been building out Swivel, the decentralized protocol for fixed-rate lending and interest-rate derivatives, as a small team of two working with the constraints of a minimal self-funded budget. \*\*Today, we are happy to announce that this changes with the closing of our 1.15M seed round led by Multicoin Capital. \*\*The round includes additional investment from industry leaders Electric Capital, CMS Holdings, Divergence Ventures and Defiance Capital as well as influential angels including Stani Kulechov, CEO of Aave, Alex Pack, Huobi Advisor, and Imran Khan of DeFi Alliance. We plan to use these funds to rev-up our development cycle and push towards our anticipated Swivel v1 mainnet launch

At ETHDenver 2020, my partner and I started the development of DefiHedge, a protocol for fixed-rate lending and interest-rate swaps. At the time, we had the impression that we were the first and only team building interest-rate derivatives, but shortly thereafter learned that was not the case.