Preview Mode Links will not work in preview mode

Bankless


Aug 2, 2023

A special mid-week episode is in order as we discus the string of events that led to one of the largest risks DeFi has faced in a long time.
What happened to Curve, what's at risk, and what can we learn from all of this?

 

*CORRECTION: The address that exploited the CRV/ETH pool controls .082% of the circulating supply, not the 8% accidentally mentioned in this segment.
------
🚀Join Ryan & David at Permissionless II in September.
https://bankless.cc/GoToPermissionless 


------
📣 STADER LABS | ETHX LIQUID STAKING
https://bankless.cc/Stader 


------
BANKLESS SPONSOR TOOLS:


🐙KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE
https://k.xyz/bankless-pod-q2   ⁠


🦊METAMASK PORTFOLIO | MANAGE YOUR WEB3 EVERYTHING
https://bankless.cc/MetaMask  


⚖️ ARBITRUM | SCALING ETHEREUM
https://bankless.cc/Arbitrum   ⁠


🛞MANTLE | MODULAR LAYER 2 NETWORK
https://bankless.cc/Mantle  ⁠


👾POLYGON | VALUE LAYER OF THE INTERNET
https://polygon.technology/roadmap 


🗣️TOKU | CRYPTO EMPLOYMENT SOLUTION
https://bankless.cc/Toku 
------
TIMESTAMPS


0:00 Intro
7:23 EVM Exploit Explained
13:21 MEV Bot Sidequest
18:21 CRV Contagion
23:43 CORRECTION: SEE SHOWNOTES*
31:43 The OTC Bailout
35:43 Buying Mansions On Leverage
41:43 Second Order Risks
47:43 Who is to Blame?
53:43 Are we in the Clear?
56:43 Lessons Learned
1:01:43 Risks and Disclaimers
------
RESOURCES


DeFi's Contagion Curveball
https://www.bankless.com/defi-contagion-curveball 


------
Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.


Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://www.bankless.com/disclosures ⁠