Arrakis Loses Mojo as User Pulls $300M From Vault Provider
Automated Liquidity Protocol Struggles with 'Incredibly Complicated' Model
By: Samuel Haig • Loading...
DeFi![Arrakis Loses Mojo as User Pulls $300M From Vault Provider](/_next/image?url=https%3A%2F%2Fcdn.sanity.io%2Fimages%2F6oftkxoa%2Fproduction%2F69b651f09c7acec8985c9d26aed0a0936549d0ac-1200x600.webp&w=828&q=75)
Arrakis Finance, an automated liquidity management protocol, is sliding down the DeFi rankings.
On Oct. 13, 0xngmi, a prominent crypto influencer and contributor to web3 analytics website, DeFi Llama, flagged that a user removed around $300M from Arrakis Finance’s DAI/USDC vault. The withdrawal reduced the pool’s TVL by more than 40% from $800M.
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