@vincentchu @zhiheng_zhang @XiaofengJin @xuexb @PFKuang @tinacheng We can help too if needed, email me anytime : )
English
Tian Li
165 posts
Tian Li
@tstyle11
Cofounder of Hydro Protocol
Seattle, WA Katılım Haziran 2008
331 Takip Edilen549 Takipçiler
My friend who is an infectious disease specialist is looking for any help translating the following journal article in Chinese: #1" target="_blank" rel="nofollow noopener">zjujournals.com/med/EN/10.3785… /cc @zhiheng_zhang @XiaofengJin @xuexb @PFKuang @tinacheng @tstyle11
English
@KevinSimler hey what do you know, found some material for my "modeling for 5 yr old" class today #homeschool
English
OUTBREAK — 🆕 interactive essay
Explore travel restrictions and social distancing. Learn how #FlatteningTheCurve reduces fatalities. All with playable simulations.
meltingasphalt.com/interactive/ou…
GIF
English
@mrjasonchoi @dydx @compoundfinance shorting DAI = long ETH/BTC. But since you can long crypto with any stable-coin, it doesn't really explain why only DAI utilization > 99%. USDC which is also available on these platforms have utilization around 20% currently.
English
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
$30m worth of DAI and what they are doing with it?
English
@willmorriss4 @AntonioMJuliano @Joey__Santoro @compoundfinance @dydxprotocol Imagine we are the only 2 dydx users in the world. I put 100 DAI into the pool, and you borrow all of it. Assuming 1% daily interest, after one day you owe me 101 DAI. Utilization = borrow/supply = 101/100 = 101%
English
@AntonioMJuliano @Joey__Santoro @compoundfinance @dydxprotocol That’s reassuring. Can you briefly describe how that works, or point me to an article?
English
Due to extreme price movements in the market today ($DAI is currently trading > $1.05), borrowing demand for DAI is currently at record levels.
Further, the Ethereum network is clogged.
Compound is operating normally, but it may take longer than normal to withdraw DAI.
English
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:
DDEX@ddexio2018
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/reflectin…
English
@mrjasonchoi @UniswapExchange Yes it is true that users want as much slippage as possible. But that's just like saying consumers want as much accidentally mis-priced "deals" on Amazon as possible. Someone paid for it, and they probably didn't do it on purpose.
English
@tstyle11 @UniswapExchange bZx may have enabled the margin that resulted in the slippage, but from my understanding the user wanted as much slippage in ETH/WBTC price as possible to sell at a significant premium to spot?
twitter.com/mrjasonchoi/st…
Jason Choi@mrjasonchoi
I'm not sure if the "trader crashed Uniswap oracle and profited by shorting WBTC on bZx" explanation is completely correct. @bzxHQ is releasing a full report soon + I'm sure I got a few things wrong but here's what I think roughly happened:
English
.@UniswapExchange's assumption about users is that they don't like too much slippage.
bZx attack is interesting because it breaks that fundamental assumption - user actually wanted as much slippage as possible.
English
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/0x77f9…
English
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)
English
Stop giving teams, products & platforms the benefit of the doubt.
bZx's repeatedly fucked up. Repeatedly. At least *6* times. How the hell were they able to lose another $650k?!
I give zero fucks about writing bad code. All code has bugs.
What comes next is what matters.
Tay 💖@tayvano_
@intocryptoast No. It doesn't work like that. Culture is very hard to change. If it's not happening during testing, it won't in production. You can fix bugs, but not the attitudes towards the bugs. Fixing bugs doesn't fix future bugs, only past ones. AS EXEMPLIFIED BY BZXs REPEATED ACTIONS 😫
English
I'm curious if flash lending might get removed from some protocols. I think people will realize that it mostly enables mischief, and the large DeFi protocols may consolidate against it. But even still, there will always be flash lending pools out there that will do it for a fee.
English
So bZx just got flash attacked *again*, just after they announced the postmortem on the previous one. Unlike that attack, this one was pure oracle manipulation—didn't even require a logic bug. Details are still hazy, but there are three interesting takeaways for me (THREAD)
English
@tomhschmidt @tushar_jain For some reason "timelock" is just a boring thing to talk about (compared to stuff like "Flash Loans") and fails to garner mainstream attention. But hey as long as somebody knows ^^
English
@tushar_jain I don't really see how you can claim with a straight face that a DeFi application, whose balance sheet is auditable and whose funds can only be maliciously stolen after a timelock, is worse than a centralized exchange.
English
0/ There has been a lot of talk on crypto twitter about defi contracts having admin keys so I wanted to consolidate my thoughts in this thread
English
3/ Claiming that this was not a hack/bug but simply advanced financial juggling
twitter.com/zhusu/status/1…
When in fact an (understandable) mistake was made and a crucial invariant check was omitted.
English
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
English
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 @peckshield/bzx-hack-full-disclosure-with-detailed-profit-analysis-e6b1fa9b18fc" target="_blank" rel="nofollow noopener">medium.com/@peckshield/bz…
English