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Articles should also be read carefully. This was not related to the contract behaving in unexpected ways.
by TekMol 5y ago
Articles should also be read carefully.
This was not related to the contract behaving in unexpected ways.
- anamexis 5y agoIt certainly doesn't seem like they expected this.
- bena 5y agoNo, they didn't. They figured human nature would keep them safe. And that no one who could muster the capital to perform this action would want to, and anyone that would want to wouldn't be able to muster the capital. Technically, the risk of borrowing that amount of money is high. As is the risk of investing that amount of money into one coin. They figured anyone that would even begin to attempt something like that would operate in good faith. No way they'd tank the coin, because they have so much skin in the game. Well, that doesn't matter when you can take your skin and go home. Not to mention the skins of everyone else, wearing them Hannibal Lecter style.
- whimsicalism 5y agoIt was expected that it would be possible to take $182 million in reserves easily with a flash loan?
- bilbo0s 5y agoNo, it was expected that people with more skin in could decide to take any action they liked. Including, "take $182 million in reserves easily with a flash loan".
- whimsicalism 5y agoBut it was a flash loan, so they didn't have skin in. Maybe if they had had a time delay for taking actions?