Temporarily suspension of Mint/Redeem Function

Zerogoki Team located one user who executed an illicit minting transaction early today which caused a significant price slippage of zUSD. The team is working on locating the fault point and the service will be recovered soon. Till now the loss is manageable.

To all the Zerogoki users, please don’t hurriedly change your trading strategy or LP position because of this event or otherwise it may cause unnecessary loss.

Zerogoki experienced an Oracle attack a few hours ago when the wrong price led to an unrecognized transaction. We have suspended the oracle machine for now and it is expected to be restored within 2 days. The price of zUSD has experienced certain fluctuations, but it is expected to return to parity in the market trading and arbitrage after the minting function is back.

During the suspension, REI-zAsset mint and burn have been stopped. Regular Uniswap v2 trading and liquidity mining are not affected.

On 8th Aug 2021 05:24:48 AM UTC, one minting trading adopts a false REI price, and an excess 717,964.8 of zUSD was minted. This certain illicit transaction is as follows: https://etherscan.io/tx/0x81e5f7158b7ef59f45864e34375bd52bb8227f51ef970fe07ec2abf1d421acf8The above transaction is from 0xae, who sold all exceed zUSD afterward and caused a huge price drop. Zerogoki found out about this abnormal case soon, and the team suspended the oracle price feeding and mint/redeem function to avoid further price impact on REI.The development team is working on the cause of abnormal prices and tracking user 0xae. During this time all users’ asset is safe and no actual loss happened unless REI and zAsset holders sell their holdings on a biased price.Zerogoki protocol will reopen mint/redeem once the oracle service is fixed. The project will set up bug bounty activities to involve more contributors to help the project become more stable and robust.Zerogoki team calls for the user 0xae to connect with us. Since these exceeded minted zUSD should not be recognized, held, or selling these balances are against fair rules. The team would like to offer 0xae a reward for helping the project find out this oracle error and suggest 0xae to connect with us for the next process.REI and zAsset are back to stable by now. Zerogoki project aims to build up a long-lasting and solid derivative platform for DeFi eco, and the project is more than grateful to users who stand with us. Zerogoki plans to set up a HODL REI activity to reward long-term REI holders and liquidity providers. Users who are identified as in the HODL REI group will receive extra airdrop for their loyalty and foresightedness. More detailed information will be released soon.