Magnate finance has some red flags and multiple users have reported concerns. Be careful.

Ask about Magnate Finance
Logo of Magnate FinanceMagnate Finance(MAG)Deprecated protocol
Total Value Locked$0

TVL by Chain

Base$0

Key Metrics

Staked$0

Active Loans$0

$MAG Liquidity$19,381

Raydium AMM$19,381

Protocol Information

Build a novel lending protocol with a dynamic interest rate model and more capital-efficient risk management pools.

Category:Lending

Audits:

Twitter

Methodology

TVL: Total value of all coins held in the smart contracts of the protocolView code on GitHub

Hacks

Date: Aug 25, 2023

Amount: $6.4m

Classification: Rugpull

Technique: Drained Contracts

Chains: Base

Language: Solidity

Target Type: DeFi Protocol

Competitors

Aave V3 ($13.8b)Morpho Blue ($7.53b)Compound V3 ($1.14b)Venus Core Pool ($1.031b)Fluid Lending ($655.29m)Euler V2 ($325.66m)Moonwell Lending ($44.67m)Native Credit Pool ($37.47m)TermMax ($34.53m)40 Acres ($25.67m)

Frequently Asked Questions

What is Magnate Finance?

Build a novel lending protocol with a dynamic interest rate model and more capital-efficient risk management pools.

What is Magnate Finance's TVL?

Magnate Finance currently has $0 in total value locked.

What chains does Magnate Finance operate on?

Magnate Finance operates on Base.

How much has been borrowed through Magnate Finance?

Magnate Finance currently has $0 in active loans.

Has Magnate Finance ever been exploited?

Magnate Finance has 1 recorded security incident. The most recent incident occurred on Aug 25, 2023 and involved $6.4m. It was classified as Rugpull.