Conic Review 2026: Curve Omnipools That Shut Down

Conic Finance was a DeFi platform on Ethereum built for liquidity providers who wanted exposure to several Curve pools at once. Its main product was the Conic Omnipool, which allocated one asset across multiple Curve pools according to protocol-controlled weights.

The project is no longer operating. A March 2025 report said Conic shut down more than a year after exploits that cost roughly $3 million. Total value locked fell from about $156 million before the hack to under $600,000.

The team had raised $1 million from Curve founder Michael Egorov, according to a project post. It later released V2, which added LAMs, bonding, platform fees and security improvements, and commissioned a ChainSecurity audit of the crypto pool update. Its token, CNC, has a listed max supply of 10 million.

Curve is a decentralised exchange built around pools of similar assets, and liquidity providers earn trading fees and rewards. Conic sat on top of Curve. A user deposited one asset into a Conic Omnipool, and the protocol spread that deposit across several Curve pools.

How much went to each Curve pool depended on weights set by the protocol, not by the depositor. The idea was to give a liquidity provider diversified exposure without having to manage many positions.

Conic V2 added a new oracle to price LP tokens of Curve crypto pools, plus a contract deciding each Conic pool's share of CNC rewards. Accurate LP token pricing matters because manipulated prices can let attackers take value from a pool.

Fee details are not published in the sources reviewed beyond a mention that V2 introduced platform fees. The exact rates were set in the protocol's contracts and documentation, which a user would have checked before depositing.

Users of Curve-based strategies also pay Ethereum gas costs for deposits and withdrawals. With the protocol wound down, current fee levels are no longer relevant for new users.

Conic suffered exploits worth about $3 million and then shut down, according to a March 2025 news report. That is the central safety fact for anyone assessing the project.

The ChainSecurity audit of the V2 crypto pool update found the code functionally correct and mostly resistant to oracle manipulation, under assumptions about Curve's price oracle and arbitrage. It also flagged edge conditions where manipulation during withdrawal could extract value, which Conic said it accepted for the time being. The auditor summarised the codebase as having an improvable level of security and noted that audits are time-boxed and cannot find every flaw.

Smart-contract and oracle risk are inherent to DeFi, and funds sat in contracts rather than with a custodian. The project does not publish any regulatory status.

Conic suits no one as an active platform because it has shut down. It is relevant to former liquidity providers and CNC holders looking for context, and to researchers studying how Curve-based aggregation and oracle risk played out.