Two DeFi projects in Solana are back on track.

After retrieving tokens stolen in the Mango Markets hack of the DeFi platform, Tulip and UXD, two DeFi projects on the Solana blockchain, were able to resume operations.

Earlier last month, the vulnerability primarily targeted two platforms: Tulip and UXD projects. A price manipulation assault on Mango Markets cost hackers $114 million in consumer deposits. Nevertheless, Mango Markets was able to retrieve more than half (or $67 million) of the pilfered money following difficult talks with the hackers.

The move gives the DeFi ecosystem, which has been suffering after being repeatedly targeted by exploits over the protracted crypto winter, hope.

Increased stability for UXD
On Solana, the UXD protocol is a decentralized stablecoin. Mango Markets’ hackers cost it $19.9 million. The UXD protocol has stopped minting stablecoins for a few weeks after the attack.

In order to manage its DeFi-related investments in various protocols, the platform is also now working on creating a “asset-liability management module.” As the UXD stablecoin allocates payments to other parties in order to preserve its value, this will be a crucial step. In order to generate income, it even invests its USDC assets in lending sites.

On the other side, Tulip, a yield aggregator platform located in Solana, got its $2.5 million worth of assets returned. This amount was staked on Mango Markets. Users’ deposits are collected by Tulip, which then distributes them across other lending and staking protocols, such as Mango.

The vault balance of every user has now been restored by the platform. Additionally, it has made the withdrawal option available.

At least for these two methods, Mango Market’s prompt and proactive response has saved the day and lessened the impact of the exploit’s loss.