Arrakis Loses Mojo as User Pulls $300M From Vault Provider
Automated Liquidity Protocol Struggles with 'Incredibly Complicated' Model
By: Samuel Haig •
DeFi
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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