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Nothing dumb about what you said, that's a valid argument. A bug, either unintended or intended as a hidden "feature" for the scammer. Is one possible way to ex
by pa7x1 4y ago
Nothing dumb about what you said, that's a valid argument. A bug, either unintended or intended as a hidden "feature" for the scammer. Is one possible way to execute a rug-pull on DeFi or, in general, result in losses for its users.
But IMHO this is still a better approach. Serious contracts go through multiple audits, deploye hefty bug bounties and if you are very risk averse you can avoid a new deployed contract for certain amount of time until it's not only audited but battle-tested. As a user perhaps you don't know and shouldn't care about the specificities of the contract or its security but you can rely on the thousands of other eyeballs that do.
For instance, a few audits of Uniswap:
- https://github.com/ConsenSys/Uniswap-audit-report-2018-12/blob/master/Uniswap-final.md https://github.com/ConsenSys/Uniswap-audit-report-2018-12/bl...
- https://rskswap.com/audit.html https://rskswap.com/audit.html
Bug bounty program of Uniswap (up to 0.5M USD per critical bug):
https://uniswap.org/bug-bounty https://uniswap.org/bug-bounty