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{"actor":"system:backfill","investigation_id":"e243fbb1-98bb-4d5d-84fc-4812df1a3d0e","kind":"publish","page_slug":"ratio-finance","published_at":"2026-05-29T02:28:18.453Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Ratio Finance","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://docs.ratio.finance/","type":"other","url":""},{"credibility":3,"name":"https://medium.com/ratio-finance/ratio-finance-an-introduction-bbbc44add6e7","type":"other","url":""},{"credibility":3,"name":"https://medium.com/ratio-finance/providing-liquidity-how-ratio-is-adding-utility-to-lps-on-solana-9da56f99401","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://finance.yahoo.com/news/ratio-finance-raises-2-25-161500225.html","type":"other","url":""},{"credibility":3,"name":"https://icodrops.com/ratio-finance/","type":"other","url":""},{"credibility":3,"name":"https://republic.com/ratio-finance","type":"other","url":""},{"credibility":3,"name":"https://tracxn.com/d/companies/ratio-finance/__G0iMkebfYPuYwUSVcsvPN13K425LWow3G_YukgrP9WI","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://defillama.com/protocol/ratio-finance","type":"other","url":""},{"credibility":3,"name":"https://rekt.news/leaderboard","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://coinmarketcap.com/currencies/ratio-finance/","type":"other","url":""},{"credibility":3,"name":"https://icodrops.com/ratio-finance/","type":"other","url":""},{"credibility":3,"name":"https://www.bitgetapp.com/price/ratio-finance","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://www.linkedin.com/in/samiar-tehrani/","type":"other","url":""},{"credibility":3,"name":"https://www.crunchbase.com/person/samiar-tehrani","type":"other","url":""},{"credibility":3,"name":"https://icodrops.com/ratio-finance/","type":"other","url":""},{"credibility":3,"name":"https://twitter.com/RatioFinance","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://defillama.com/protocol/ratio-finance","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/currencies/ratio-finance/","type":"other","url":""},{"credibility":3,"name":"https://icodrops.com/ratio-finance/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://finance.yahoo.com/news/ratio-finance-raises-2-25-161500225.html","type":"other","url":""},{"credibility":3,"name":"https://en.wikipedia.org/wiki/Bankruptcy_of_FTX","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/protocol/ratio-finance","type":"other","url":""}]}],"sources_used":[],"summary":"Ratio Finance is a defunct Solana-based collateralized debt position (CDP) protocol that allowed users to mint the USDr stablecoin against yield-bearing LP token collateral. The protocol raised $8.4 million across multiple rounds from investors including Alameda Research, Solana Ventures, and CMS Holdings, then launched its RATIO governance token in March 2022 at an all-time high near $2.24. The project suffered a private key compromise on or around December 3, 2022, after which the protocol's TVL fell to zero, the RATIO token lost over 99.9% of its value, and all social media activity ceased by December 2023.","timeline":[{"date":"2021-07-01","event":"Ratio Finance completes $500,000 seed round at $0.0625/RATIO from investors including Alameda Research, Rarestone Capital, and Solana Ventures.","source":""},{"date":"2021-09-01","event":"Strategic and private funding rounds raise an additional $1.75 million, bringing total pre-public fundraising to approximately $2.25 million.","source":""},{"date":"2022-02-01","event":"Three public token sales conducted via the Republic crowdfunding platform raise $6.15 million at $1.50 per RATIO token.","source":""},{"date":"2022-03-25","event":"RATIO Token Generation Event (TGE) concludes. Token reaches an all-time high of approximately $2.24, implying a peak fully-diluted valuation near $224 million.","source":""},{"date":"2022-11-11","event":"FTX and Alameda Research file for bankruptcy. Alameda was a seed-stage investor in Ratio Finance. The collapse triggers broad Solana ecosystem liquidity crisis.","source":""},{"date":"2022-12-03","event":"Ratio Finance suffers a private key compromise, classified as an infrastructure attack. TVL subsequently collapses to zero. No official post-mortem has been publicly released.","source":""},{"date":"2022-12-16","event":"Raydium, a key DEX partner and liquidity source for Ratio Finance vaults, suffers its own private key compromise exploit, draining multiple liquidity pools.","source":""},{"date":"2023-12-11","event":"Final recorded social media activity from the official Ratio Finance accounts. No project updates, governance activity, or team communications have been identified after this date.","source":""},{"date":"2025-01-07","event":"RATIO token price recorded at $0.0004365 with a market capitalization of approximately $4,540, representing a decline of over 99.9% from its all-time high.","source":""}]},"v":1}