Rektless is an MEV-powered solution, that allows owners of pre-exploited DeFi protocols to securely migrate funds in a decentralized manner, maintain community and prevent their brand from “rekt”.
4 steps to use Rektless approach:
- Pause your DeFi protocol (>30% of DeFi protocols has this option in smart contract)
- Deploy a new version of DeFi protocol with fixed vulnerabilities
- Implement and deploy IRektlessMigrator
- Create Rektless Profile and share the migration link with your community
- Aggregate signed users migration requests using Rektless platform
- Send signed users migration requests as private MEV bundle wrapped with unpause and pause DeFi protocol transaction. Transactions are private and can not be frontrunned by hackers
- Ensure that vulnerable DeFi protocol will always be frozen, while funds will be migrated to a the brand new fixed version.
Comparing to upgradable contracts, rektless way to restore liquidity from hacked contracts is truly decentralised - there is no central authority to upgrade contracts; moreover, only user can withdraw his liquidity from the protocol. Rektless also allows protocol to force user migrate liquidity (not withdraw it). It should help hacked protocols to keep their TVL and userbase higher
We will create a pausable + emergency liquidity withdraw interfaces/libs that will allow to use this approach for the contract. There is no 100% way to be secure from hacks, however, you'll have 100% reliable approach to migrate liquidity from hacked contract.
Discord profiles - Anatolii#7861