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Arrakis Loses Mojo as User Pulls $300M From Vault Provider

Arrakis Finance, an automated liquidity management protocol, is sliding down the DeFi rankings.

On Oct. 13, 0xngmi, a prominent crypto influencer and contributor to web3 analytics website, DeFi Llama, flagged that a user removed around $300M from Arrakis Finance’s DAI/USDC vault. The withdrawal reduced the pool’s TVL by more than 40% from $800M.

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