TechFlow February 11 news: PancakeBunny officially announced that due to the Qubit hack resulting in approximately $80 million in losses—including assets from development team Team Mound and thousands of private users—Team Mound's holdings in Qubit, amounting to about $10 million, represented their entire operational capital. As a result, the scaled development team can no longer be sustained. Team Mound has decided to disband, and the Bunny and Qubit protocols, previously led by the development team, will now be managed by a DAO. The community will hold all relevant rights, including upgrading contracts and modifying fee structures.
Mound Finance is an innovative fintech company focused on developing blockchain-based financial platform services, with emphasis on DeFi and cross-chain capabilities. Its products include PancakeBunny, polyBunny, and Qubit.
