MetronomeDAO disclosed that roughly 6,367 msETH and 4.57 million msUSD in circulation — about $15.7 million at current prices — are not backed by debt positions, the result of what the protocol calls "unbacked float" that built up in its synthetic-asset swap module.

MetronomeDAO disclosed that roughly 6,367 msETH and 4.57 million msUSD in circulation — about $15.7 million at current prices — are not backed by debt positions, the result of…

MetronomeDAO reveals $16M in unbacked synthetic assets after trading bots exploited Chainlink oracle latency on Base for months, affecting 31% of