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Paraphrasing something I read elsewhere but is so true: defi systems have a natural bug bounty program where the payout for a critical is the entirety of the fu
by lelag 5y ago
Paraphrasing something I read elsewhere but is so true: defi systems have a natural bug bounty program where the payout for a critical is the entirety of the funds under management.
- SkyMarshal 5y agoFwiw that's not a new concept, it applies to cryptocurrency in general, not just DeFi, and people have been saying it since the early days. And of course it's true - finality and no clawbacks in decentralized systems means once it's stolen, it's stolen for good.
- VectorLock 5y ago>no clawbacks Except when there are, like the Ethereum fork to recover the DAO hack.
- spelunker 5y agotoo big to fail strikes again!
- SkyMarshal 5y agoHaha, yeah I probably should have qualified that with "ostensibly no clawbacks".