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The aftershocks of a $50 million exploit have rippled throughout the DeFi panorama.
Posted August 4, 2023 at 7:00 am EST.
Whereas it’s now largely contained, the Curve disaster has uncovered a number of the systemic dangers on the earth of DeFi. Sam Kazemian, founding father of Frax Finance, joins the present to debate what DeFi must do to get higher – and what builders ought to be taught from a novel assault that was finally about far more than $50 million in drained funds.
Take heed to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or in your favourite podcast platform.
Present highlights:
- how the Curve exploit occurred and why this hack is totally different
- how the assault triggered a disaster in main lending platforms like Aave, Fraxlend, and Abracadabra
- what Curve founder Michael Egorov’s resolution was to the potential liquidation of his a number of loans
- whether or not this example proves that DeFi is inferior to promised
- what may be achieved to forestall these sorts of points sooner or later, significantly with giant loans in DeFi that might doubtlessly convey down the ecosystem
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