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.
- 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
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- Sam Kazemian, founder of Frax Finance
- Previous coverage on the Curve hack: The Chopping Block: Who’s to Blame for the Curve Hack?