What Does the Curve Crisis Say About DeFi? - Ep. 527

While it’s now mostly contained, the Curve crisis has exposed some of the systemic risks in the world of DeFi. Sam Kazemian, founder of Frax Finance, joins the show to discuss what DeFi needs to do to get better – and what builders should learn from a novel attack that was ultimately about much more than $50 million in drained funds.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:

how the Curve exploit occurred and why this hack is different 

how the attack triggered a crisis in major lending platforms like Aave, Fraxlend, and Abracadabra

what Curve founder Michael Egorov’s solution was to the potential liquidation of his several loans

whether this situation proves that DeFi is not as good as promised

what can be done to prevent these kinds of issues in the future, particularly with large loans in DeFi that could potentially bring down the ecosystem

Thank you to our sponsors!

Crypto.com

Railgun DAO

Arbitrum Foundation

Thales DAO

Guest

Sam Kazemian, founder of Frax Finance
Links

Previous coverage on the Curve hack: The Chopping Block: Who’s to Blame for the Curve Hack?

Unchained: 

$52 Million Drained in Curve Finance Pools Exploit

Curve Founder’s Liquidation Could Trigger Chaos for DeFi

Curve Exploit Results in Largest MEV Block Rewards in Ethereum’s History

CoinDesk: 

Curve Founder Deploys New Liquidity Pool to Address FRAX Debt Situation

Spooked by Curve Liquidation Threat, DeFi Protocols Shore Up Defenses

Aave Should Block Curve Token Borrowing, Risk Management Firm Proposes

After the Curve Attack: What's Next for DeFi? 

Learn more about your ad choices. Visit megaphone.fm/adchoices

While it’s now mostly contained, the Curve crisis has exposed some of the systemic risks in the world of DeFi. Sam Kazemian, founder of Frax Finance, joins the show to discuss what DeFi needs to do to get better – and what builders should learn from a novel attack that was ultimately about much more than $50 million in drained funds.

Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Show highlights:

how the Curve exploit occurred and why this hack is different 
how the attack triggered a crisis in major lending platforms like Aave, Fraxlend, and Abracadabra
what Curve founder Michael Egorov’s solution was to the potential liquidation of his several loans
whether this situation proves that DeFi is not as good as promised
what can be done to prevent these kinds of issues in the future, particularly with large loans in DeFi that could potentially bring down the ecosystem
Thank you to our sponsors!
Crypto.com
Railgun DAO
Arbitrum Foundation
Thales DAO
Guest
Sam Kazemian, founder of Frax FinanceLinks
Previous coverage on the Curve hack: The Chopping Block: Who’s to Blame for the Curve Hack?

Unchained: 
$52 Million Drained in Curve Finance Pools Exploit
Curve Founder’s Liquidation Could Trigger Chaos for DeFi
Curve Exploit Results in Largest MEV Block Rewards in Ethereum’s History
CoinDesk: 
Curve Founder Deploys New Liquidity Pool to Address FRAX Debt Situation
Spooked by Curve Liquidation Threat, DeFi Protocols Shore Up Defenses
Aave Should Block Curve Token Borrowing, Risk Management Firm Proposes

After the Curve Attack: What's Next for DeFi? 

Learn more about your ad choices. Visit megaphone.fm/adchoices