Odysseus | phylax.systems
@odysseas_eth
founder @phylaxsystems The society that separates its scholars from its warriors will have its thinking done by cowards and its fighting by fools
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My earlier take was unfairly reductionist.
The DeFi team (@CharlieStLouis, @ivangbi_), enterprise team, and folks like @binji_x and @jchaskin22 have done real work listening to Ethereum builders and helping teams like ours succeed.
Bullish on them staying in the EF and steering it in the right direction.
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Monad eBTC/Curvance trace: not a Curvance lending bug.
The eBTC admin granted DEFAULT_ADMIN_ROLE to 0x6A0109, who revoked admin, self-granted MINTER_ROLE, minted 1,000 eBTC, posted 45 eBTC as collateral, and borrowed ~11.296 WBTC.
Looks like admin-key/role compromise.
Key txs: admin grant 0x1684...cf6f, mint 0x2cc9...57c0, borrow 0xa797...778e.
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god forbid someone asks for some pocket money ($15M+) to fund their hobby
if anything was learned from the bridging wars, is that absolutely nobody cares about passing messages from one chain to another.
not.a.single.person
users want to transfer value. nobody wants to build cross-chain dapps.
thus, there is absolutely no reason to incur systemic risk by creating non-native assets (bridge IOUs) everywhere, needing to perform complicated global accounting, etc.
we should build better cross-chain solvers and make swaps very easy, even for large transfers.
every IOU is systemic risk to the network it lives.
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