Gate Ventures Podcast | Episode 5 Planning Before an Exploit: Risk Thinking in Modern DeFi Monet Supply @MonetSupply — Head of Strategy at Spark @sparkfinance and former risk consultant at Block Analytica — for a deep dive into what's actually broken in DeFi today. They get into why the biggest exploits stopped being smart contract bugs, why he checks liquidity before he checks yield, and how institutions moving $10M–$100M at a time should think about putting capital on-chain. Key takeaways: 💡 The yield story is over — DeFi went from "a few percent above risk-free" two to three years ago to roughly matching T-bill rates today. The new value prop is liquidity, speed, and access 💡 Liquidity is the first metric he checks every morning: if liquidity closes, the exit door closes — and at institutional size, the exit door is the whole trade 💡 The risk has moved: DeFi Summer was re-entrancy bugs, today it's key management. Oracles, bridges, multi-sigs, and custody all collapse into the same question — who holds the keys 💡 Defense in layers: rate limits on price oracles so a feed can't print infinity or zero, time locks to buy reaction time, and moats instead of a single point of failure Now on YouTube & Spotify! 🔹 YouTube: 🔹 Spotify: #DeFi# #RWA# #RWAStack# #Spark# #CeDeFi# #KeyManagement# #Oracles# #Bridges# #RiskManagement# #Stablecoins# #Tokenization# #Web3# #OnChainFinance#