And not a single thread on /biz/ about it. Disappointing state of the board.
It's good no one is replying to this. It shows no one is still buying these retarded scams. The only thing that matters is bitcoin and bullets.
>>62137203How the fuck does HYPE stand a chance against these hackers? You just know there's thousands of 150iq north koreans chained to a computer working full time on geting that 10B prize.
Everyone here is either in PMs, Equities, Commodities, or Memes like proper /biz/nessmen. Governance coins are a thing of the past now that stocks are tokenized.
>>62137226their validator set is permissioned, so it would be prohibitively expensive to attack it
>>62137203decentralization theater
>>62137386They just made $300M retard
I’m blaming aave for this one. I always thought they vetted everything about any token that can be used as collateral, this is as bad as listing yo-yo token with a single key infinite mint function and giving it unlimited borrowing power. I have zero coding experience and if I had vetted this token I would have looked at its bridge mechanics over a latte and figured out that I don’t want to give one private key the ability to steal everything in the bridge and use it as collateral. As a complete layman if I was in charge at aave this would not have happened.
Nobody cares about crypto anymore it's finished.
>>62137705Yeah its pretty retarded that they allowed non Chainlink token to be used as collateral, but probably will be changed in future after this probably
>>62137535do you have any idea how much it would cost to buy enough HYPE to control even one validator
>>62137705not really, other protocols offer rsETH. from aaves perspective, everything was backed in the moment of the swap. its like realizing after you swapped the money that it came from a drugdeal.heres the responsibilty from highest to lowest imo:>1. highest: LayerZero. Kelp used 1/1 DVN (stupid) and that DVN is wholly in LayerZeros jurisdictionWhen kelp asked for confirmation for the transaction, the DVN because of a poisened external RPC (IN LAYERZEROs infra), approved the tx even though it wasnt>2. middle: Kelp. One can argue as much as you want about LayerZero providing no warnings or being a default config with the 1/1 DVN etc., but it was on Kelp to secure several + multisig>3. least: Aave. When someone comes in and wants to swap 300 million worth of a restaked token, it should trigger some kind of security alerts. HOW that would look like without making people be annoyed at Aave (slower transaction speed because of safeguards) is another thing
the future of finance
>>62137203srs? it was ari juels?
>>62137901Aave is supposed to vet tokens for all kinds of vulnerabilities from liquidity to mint functions/inflation and honey pots etc, it was a pretty big miss for them that they ignored the fact that there was a massive honey pot of the token secured by a single private key. Once a token can be used as collateral in aave it becomes an attack vector for the whole protocol
>>62137901But yea I agree Layerzero is by far most culpable. I just thought aave was the gold standard for security and can’t believe they allowed this to be used as collateral, apparently they did mention the single key bridge during the governance vote but then just… moved past it lol
>>62137947>>62137986>I’m blaming aave for this one.I agree, of course aave should have done more due diligence and its honestly embarassing. But to say aave is to blame for this one is wrong.No matter the fact that aave seemingly said that everything is backed, it should be on LZ and partly kelp to make any aave customers whole
wasn't it chaoslabs who vouched for this shit on aave? inside job?
a noname script vibe coded by clueless people got pnwed. this happens literally daily. only idiots send money to them, they would lose that money anyway. reasons to care?
Future of finance lol
>>62138014>wasn't it chaoslabs who vouched for this shit on aave? inside job?asking the right questions, anon
>>62138016>Centralized system failed because it's centralized>This means decentralized finance is bad okay?
>>62137731>do you have any idea how much it would cost to buy enough HYPE to control even one validatorWould it be less than 300M?
>>62138016I look forward to a time (20 years hence) when defi has learned enough stupid and expensive lessons. maybe then it'll be usable for something other than degen whale nonsense
>>62138109>communism hasn't failed, because REAL communism was never implemented!is this real decentralized finance in the room with us?
