Jimbo’s Protocol – Monday, May 28, 2023

Jimbo's Protocol is a decentralized finance (DeFi) system built on the Arbitrum chain. The protocol uses a semi-stable floor price for its ERC-20 token, $JIMBO, backed by a treasury of Ether (ETH). However, despite its pioneering efforts to maintain on-chain liquidity and price floors, Jimbo's Protocol recently faced a Flash loan attack.

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