Saffron Finance makes Epoch 1 recovery
On 29th November, Epoch 1 came to an end, but users were met with transactions reverted unexpectedly.
The Saffron team were able to resolve the issue efficiently by creating a rescue contract and deploying it successfully to return most of the funds.
Three contracts were affected by a bug in a function that was exposed to the public. When called, a new epoch was created on the contract, however specific inputs led it to a contract state where no users could withdraw funds from epoch 1.
The team used emergency governance functions and the DAI / Compound Adapter and Uniswap LP Staking pool were swept, following which the funds were returned via their epoch 1 recovery UI.
A future on-chain governance structure.
Saffron Finance aims to become fully permissionless as it matures and grows. Therefore, governance decisions such as rescue missions will also handed over to stakeholders in order to be fully decentralised, increase efficiency, reduce risk and ensure incentives remain aligned.