Updated non-work TODO list:
1) Get better at cooking
2) Build a home gym
3) Help out with homeschooling
At this moment, the utilization rate of DAI is 99.7% on @dydx and 99.3% on @compoundfinance. Does anyone have a rational explanation for who is borrowing
$30m worth of DAI and what they are doing with it?
In the age of flash loans, poorly designed smart contracts are more vulnerable than ever. Our team decided to re-examined everything from the ground up:
We just published a piece on flash loans, the #bZx hacks, and DDEX's security.
In the article we answer 4 questions that #DeFi users may consider when they go to test a new platform.
Questions and feedback are welcome 😊
#DDEX #Security #Decentralized
medium.com/ddex/reflecting-o…
The deleveraging happening on bZx right now is both fascinating and scary to look at.
As of now there are over 11,000 ETH in the bZx pool with only 0.6 ETH available for withdraw, meaning it is nearly impossible for lenders to exit. (source: app.fulcrum.trade/#/stats)
An easier way to see "free liquidity" is to look at the iETH contract on etherscan.io. The balance of WETH it holds is what is available for withdraw.
etherscan.io/address/0x77f97…
One lesson we learned from past experience is that although "all the data is right there in the smart contract", it is not practical to expect the majority of users to perform raw analysis. We should strive to improve observability.
This quoted post is unavailable.
This analysis of the bZx hack is the first one I've read that actually makes sense and doesn't hand wave over crucial steps. Much respect to @pecshield medium.com/@peckshield/bzx-h…
2/ Focusing on the flash lending and involvement of a large number of protocols instead of the crucial step
@dydx and @compoundfinance was the easiest way to temporarily procure ETH WBTC, but weren't necessary. ingredients. The crucial step only involves bZx and uniswap
3/ Claiming that this was not a hack/bug but simply advanced financial juggling
nitter.gq/zhusu/status/122886384…
When in fact an (understandable) mistake was made and a crucial invariant check was omitted.
Tian Li retweeted
Our github continues to grow! If you're working in the blockchain field, let us know if you find any of our repos helpful
#opensource #blockchain #ethereum #defi #decentralized #golang
To kick off 2020, our team at #DDEX wanted to give back to the #ethereum community. We've started by open sourcing some of our most useful libraries for interacting with the Ethereum blockchain.
medium.com/hydro-protocol/op…
Let's make blockchain development a little easier😀
Finally! 5x BTC positions on DDEX is now possible(powered by WBTC underneath). The slippage for $1000 orders is an order of magnitude better than other DeFi projects : ) ddex.io/margin/WBTC-USDT
One interest question that arises from this sharding discussion is whether dapps can still be composed together without synchronous (atomic) transactions. In our experience, asynchronous compositions are definitely possible, but takes extra effort and planning. For example:
Sharding will NOT break defi composability.
ethresear.ch/t/cross-shard-d…
All margin exchanges work by compositing together a "borrow tx" and a "trade tx". As far as I know margin.ddex.io is the only one that does it asynchronously. (We didn't do it to pre-plan sharing, but because this gave us access to both on-chain and off-chain liquidity)
