The discovery of a potential security issue has been revealed by the Raft protocol, a collateralized stablecoin system built on stETH. While the team looks into the matter, more stablecoin R minting has been temporarily put on hold. Current users are still eligible to get collateral and redeem their positions.
A decentralized stablecoin backed by stETH, a tokenized form of Ethereum‘s staked Ether, is the goal of the Raft protocol. As a precautionary move to guarantee the security of the protocol and its users, R minting has been temporarily suspended. In order to resolve the possible vulnerability, the team is working hard, and updates will be given as the investigation develops.