DeFi Platform Conic Finance's CNC Token Surges 50% as the Protocol Plots Comeback After Hack
Decentralized finance protocol Conic Finance plans to roll out its upgraded version (v2) following a security breach in July. The announcement saw Conic’s governance token, CNC, surge roughly 50% to $2.20. The protocol, which allows liquidity providers to diversify and earn yields via 'Omnipools' on Curve Finance, underwent meticulous auditing and review over the past four months ahead of deployment. In the upcoming days, Conic will hold a voting session regarding the list of supported Omnipool assets and related initial liquidity allocation weights. This follows a hacker attack in July, where around $3.6 million worth of ETH was stolen from Conic's ETH Omnipool. Following the attack, the total value locked on Conic dropped from circa $150 million to under $1 million.
