Verify a decision

{"actor":"system:backfill","investigation_id":"35a7dd64-02de-402b-8b38-d0d44a9500b7","kind":"publish","page_slug":"tectonic","published_at":"2026-05-30T11:48:02.249Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"Tectonic","sections":[{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://medium.com/tectonicfi/introducing-tectonic-da19344b6144","type":"other","url":""},{"credibility":3,"name":"https://tectonic.finance/","type":"other","url":""},{"credibility":3,"name":"https://medium.com/tectonicfi/tectonic-mainnet-launch-d087fe485d8","type":"other","url":""},{"credibility":3,"name":"https://medium.com/tectonicfi/tectonic-isolated-pools-92e6fd9183c8","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://blog.cronos.org/p/cronos-ecosystem-spotlight-tectonic","type":"other","url":""},{"credibility":3,"name":"https://tectonic.gitbook.io/docs/extras/cronos-labs-incubation","type":"other","url":""},{"credibility":3,"name":"https://medium.com/tectonicfi/introducing-tectonic-da19344b6144","type":"other","url":""},{"credibility":3,"name":"https://www.thestandard.io/blog/tectonic-finance-the-comprehensive-financial-due-diligence","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://gist.github.com/fatherGoose1/690fa2d8245488b6750b67a0fdeb34bc","type":"other","url":""},{"credibility":3,"name":"https://defillama.com/protocol/tectonic","type":"other","url":""},{"credibility":3,"name":"https://tectonic.gitbook.io/docs/introduction/faqs","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://medium.com/tectonicfi/tonic-tokenomics-and-airdrop-660b519e81c6","type":"other","url":""},{"credibility":3,"name":"https://coinmarketcap.com/currencies/tectonic/","type":"other","url":""},{"credibility":3,"name":"https://www.coingecko.com/en/coins/tectonic","type":"other","url":""},{"credibility":3,"name":"https://tokeninsight.com/en/coins/tectonic/tokenomics","type":"other","url":""},{"credibility":3,"name":"https://www.gobankingrates.com/investing/crypto/what-is-tectonic-crypto/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://pexx.com/chaindebrief/top-3-tvl-protocol-on-cronos/","type":"other","url":""},{"credibility":3,"name":"https://bitkan.com/learn/tectonic-crypto-price-prediction-is-tectonic-a-good-cryptocurrency-4857","type":"other","url":""},{"credibility":3,"name":"https://news.buildoncronos.com/p/cronos-evm-tvl-crosses-900m-usd-a","type":"other","url":""},{"credibility":3,"name":"https://invezz.com/news/2023/11/15/cronos-cro-price-forms-a-double-top-as-vvs-finance-tectonic-tvl-rises/","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://tectonic.gitbook.io/docs/introduction/faqs","type":"other","url":""},{"credibility":3,"name":"https://medium.com/tectonicfi/tonic-tokenomics-and-airdrop-660b519e81c6","type":"other","url":""},{"credibility":3,"name":"https://medium.com/tectonicfi/tectonic-isolated-pools-92e6fd9183c8","type":"other","url":""},{"credibility":3,"name":"https://gist.github.com/fatherGoose1/690fa2d8245488b6750b67a0fdeb34bc","type":"other","url":""}]},{"content":"","heading":"","severity":"medium","sources":[{"credibility":3,"name":"https://twitter.com/tectonicfi?lang=en","type":"other","url":""},{"credibility":3,"name":"https://en.wikipedia.org/wiki/ZachXBT","type":"other","url":""}]}],"sources_used":[],"summary":"Tectonic is a decentralized money market protocol on the Cronos blockchain, operating as a fork of Compound, that allows users to lend and borrow cryptocurrency assets. Launched in December 2021 by Gary Or (former CTO of Crypto.com) and incubated by Particle B and Cronos Labs, the protocol reached approximately $1 billion TVL at peak in early 2022 before collapsing over 95% alongside the broader crypto bear market. A disclosed reentrancy vulnerability in the staking contract was reported in March 2024 allowing potential extraction of millions in a single transaction, and a separate flash loan exploit in February 2024 resulted in approximately $250,000 in losses.","timeline":[{"date":"2021-11-04","event":"Tectonic announced via Medium as a cross-chain money market on Cronos, with a planned beta launch end of November 2021 and official launch in mid-December 2021.","source":""},{"date":"2021-12-01","event":"Tectonic mainnet launched on the Cronos blockchain with the TONIC governance token.","source":""},{"date":"2021-12-23","event":"TONIC reached its all-time high price of approximately $0.000001913 shortly after mainnet launch, driven by high emission incentives and Cronos ecosystem hype.","source":""},{"date":"2022-01-18","event":"Snapshot taken for the TONIC airdrop to eligible VVS token holders; airdrop redemption opened February 14, 2022.","source":""},{"date":"2022-02-08","event":"Cronos ecosystem TVL surpassed $2 billion; Tectonic was the dominant protocol by TVL share. TONIC price reached approximately $0.0000019.","source":""},{"date":"2022-03-01","event":"Tectonic TVL reached approximately $1 billion, confirming it as the leading money market on Cronos.","source":""},{"date":"2022-03-14","event":"Protocol announced reduction of collateral factor by 3% per day toward a 20% floor, a risk management measure amid market volatility; TONIC trading near $0.0000007.","source":""},{"date":"2022-07-23","event":"TONIC reached a then-low of approximately $0.00000011 as the crypto bear market deepened and TVL declined by more than 50%.","source":""},{"date":"2022-12-05","event":"Tectonic launched Ambassador Program to rebuild community engagement.","source":""},{"date":"2023-01-31","event":"Team published 'Protocol Updates for Year 2,' announcing adjustments to the TONIC emission schedule for the second year.","source":""},{"date":"2023-03-17","event":"Tectonic announced Isolated Pools feature to separate high-risk assets into contained lending pools.","source":""},{"date":"2023-03-29","event":"First Isolated Pool launched with LCRO as the listed collateral asset.","source":""},{"date":"2024-02-22","event":"Tectonic suffered approximately $250,000 in losses from a flash loan new market exploit on Cronos, classified as a protocol logic vulnerability. This is catalogued in DefiLlama's hacks database.","source":""},{"date":"2024-03-22","event":"A public bug report disclosed a reentrancy vulnerability in TectonicStakingPoolV3.sol (0xE165132FdA537FA89Ca1B52A647240c2B84c8F89) allowing free minting of xTONIC tokens. An attacker with $23,000 in TONIC could extract over $2.5 million per transaction. The exploit was rated 'Easy' difficulty.","source":""},{"date":"2024-07-08","event":"Team published a Roadmap Update on Medium, the most recent identified blog post, indicating the protocol remains active but with sparse public communications.","source":""}]},"v":1}