Resolv USR (USR)

At the same time, Resolv launched a new business line called Vault Street, focusing on the distribution of tokenized real-world assets (RWA), and plans to officially launch a leveraged RWA yield product called primeUSD for institutional investors in June. This product will deploy stablecoin capital into tokenized U.S. Treasury assets and conduct controlled leverage operations through the DeFi lending market.

The @ResolvLabs hack is a good case study in DeFi recovery.

Here's what happened ↓

March 22:

@ResolvLabs offchain infra got compromised.

Attacker gained signing authority, minted 80M unbacked USR in 2 transactions, and extracted ~$25M in $ETH.

Oof.

Later that day:

Resolv paused contracts, revoked compromised access, and warned users not to trade USR-related assets.

The collateral pool wasn’t directly drained, but USR still depegged.

And because USR/wstUSR was already used in other DeFi protocols, the depeg created problems outside Resolv too.

Later in March:

Resolv moved into recovery mode.

They started burning the illicit USR and preparing 1:1 redemptions for pre-incident holders.

April 4:

Full postmortem dropped.

And the weak point was the trust placed in offchain infra.

Because once the attacker got access to minting authority, the contract accepted the mint, but there weren’t enough onchain fail-safes to stop it.

With no proper mint limits and no extra validation.

80M unbacked USR got c

Over the past weeks, Resolv has been actively working with affected counterparties and ecosystem participants to move the recovery process forward across both pre-incident and post-incident user groups.

As part of this process, we have reached a shared understanding with @0xfluid on the path forward, as one of the key counterparties impacted by the post-incident dynamics. This reflects constructive dialogue and close coordination between the teams throughout the process.

The agreed framework differentiates between pre-incident and post-incident exposures:
- pre-incident positions with positive equity are expected to be made whole by Resolv
- bad debt on positions created after the incident will be shared equally between Resolv and Fluid

The settlement execution will be completed on May 11.

Aligning with Fluid as the major affected protocol marks an important milestone as we continue discussions with other counterparties and protocols across the ecosystem. Conversations are ongoing and progressing well, an