Rari Capital

Rari Capital is a decentralized finance platform based in the United States, focused on lending and borrowing services through its Fuse lending market and an associated stablecoin protocol. It enables users to supply assets to earn interest and to borrow against collateral within a permissionless, blockchain‑based environment. The platform operates in the broader DeFi sector, serving global users who interact via smart contracts without traditional intermediaries. Its core product is the Fuse market, which allows the creation of isolated lending pools for various tokens. The associated stablecoin protocol supports the ecosystem by providing a stable medium of exchange and incentivizing participation through bounty programs.

In April 2022, Rari Capital experienced an $80 million exploit stemming from a reentrancy vulnerability in its Fuse lending market, marking its second major security breach after an earlier multimillion‑dollar loss. The exploit allowed attackers to withdraw funds repeatedly before transaction validation, prompting the platform to halt operations and initiate a reimbursement process guided by community voting. Concurrently, its associated stablecoin protocol announced a $10 million bounty for the return of the stolen funds. At the same time, another DeFi platform suffered a $10.3 million theft, with partial recovery reported by blockchain security firms. These events underscore Rari Capital’s specialization in DeFi lending, its exposure to smart‑contract risks, and the community‑driven approach it adopts for incident response and governance.