
PKspin..Я 🐸
2K posts

PKspin..Я 🐸
@PKspin
AntiWoke🌊Nature Rules🤠Be kind it's easy💪 ☮️ Ribbit




What happens to your Canton Coins if you die tomorrow? Your family doesn't know your wallet password. They don't have your seed phrase. They probably don't even know which wallet you use. Your $CC sits on the blockchain forever. Inaccessible. Unrecoverable. Gone. This isn't hypothetical. An estimated $45 billion in crypto is permanently lost because owners died without a recovery plan. Canton holders are no different. You've done the hard part. You identified Canton early. You understood the institutional thesis. You accumulated $CC while most people haven't heard of it yet. But none of that matters if your holdings die with you. Traditional inheritance doesn't work here. Lawyers don't understand seed phrases. Banks can't access decentralized wallets. Writing your seed phrase in a will creates a security risk while you're still alive. @CypherockWallet built something called Cypherock Cover specifically for this. Your private keys are split across 5 devices. You keep some, your nominee keeps the others. After a set inactivity period, your nominee receives an encrypted message to recover your assets using the X1 cards and a PIN. No third party. No KYC. No custodian. No lawyer. Your nominee can be anyone you choose. You're building a long term Canton position. Make sure it outlives you. Learn more about protecting your $CC here: cypherock.com/cypherock-cover

🚨 **Australia just dropped a BOMB on crypto regulation!** 🇦🇺💥 Non-custodial blockchains? Now officially **INFRASTRUCTURE** — not financial services. Clearing + settlement at protocol level? ✅ Blanket rules? GONE. True DeFi + RWAs? **GREEN LIGHT** 🔥 @RedbellyNetwork was literally built for this moment 👀 This changes EVERYTHING. Bullish or what?! 👉 Full breakdown here: cryptowisser.com/australias-pdt… RT if you’re loading up on compliant infrastructure plays! 👇 #RBNT, $RBNT, #RedbellyNetwork, #RedbellyDAO @RedbellyNetwork #Crypto #cryptocurrency #CryptoCommunity #CryptoNews #Blockchain

@kryptodroid1 The CEO is going around claiming it is permissionless & decentralized now There was a debate on @Unchained_pod about it. Which triggered me to write this Honestly did not care until they started with blatantly false claims It is not even a good product for institutions either!



THORChain was modelled after Bitcoin, to be permissionless and censorship resistant. There’s no single person or entity in control of the protocol. There’s no admin key. There’s no 2-of-3 multisig. Currently, there’s 95 nodes spread globally that control the network. For the network to change a two thirds supermajority have to agree, resulting in a 64-of-95. No one can override that. Bitcoin is neutral because the code is neutral, and the nodes enforce it. THORChain is neutral because the code is neutral, and the nodes enforce it.

Another bridge hack another $292 million gone. An attacker forged a cross-chain message on Kelp DAO's LayerZero bridge minted 116500 rsETH out of thin air and used them as collateral to drain real ETH from lending protocols. The emergency multisig paused everything 46 minutes later but the damage was already done. This keeps happening because bridges rely on trusting messages from other chains. When that trust layer gets exploited there is nothing underneath it. Native assets don't have this problem. When you swap on THORChain nothing gets minted nothing gets wrapped and no third party vouches for anything. Real cryptos move between chains validated by the network itself. That is the only model that removes this attack surface entirely. Native or nothing.


NEW: Big-4 firm Deloitte & Touche LLP completed SOC 2 Type 2 examination for Chainlink CCIP & Data Feeds. Chainlink is the only data and interop oracle platform meeting key institutional security standards: • SOC 2 Type 2 • SOC 2 Type 1 • ISO/IEC 27001:2022 certification

You, @Vet_X0, are consistently misleading people. For someone who has never worked in international finance to say something like this is inappropriate. DeFi has, had and will always have the same consistent weakness if these protocols don’t begin to KYC/AML the wallets associated with their liquidity pools. With more and more people using tools by @AnthropicAI to find on-chain vulnerability, this will only be the first in a long string of future hacks and pool drains. DeFi needs to be permissioned in order to legally recover funds from abusive users. These type of protocols should only be run on private permissioned chains. And it will inevitably happen. Anyone that says anything different is part of the problem in this space. Whether it comes to you or @JoelKatz you all fail to address the important aspects of DeFi that @YuvalRooz talks about and addresses in DeFi. Be a part of the solution not the problem in this space. Change your narrative. @ripple @bgarlinghouse get a control of your influencer.

Following the KelpDAO hack, we built an open analysis of DVN security configurations across every active OApp on LayerZero over the last 90 days. Of ~2,665 unique OApp contracts: 47% run a 1-of-1 DVN security floor, 45% run 2-of-2, and ~5% run 3-of-3 or higher. As we know, KelpDAO's rsETH sat in the first bucket. Open query, public methodology, feedback welcome: dune.com/dune/layerzero…


A few implications for future defi design after this watershed incident (KELP/LZ/Aave exploit): “money lego” and composability is not free lunch - LRTs/wrapped assets should never be treated as equivalent to native assets (same with the Binance wrapped assets in CEX) - Yield-enhanced wrappers are also risk-enhanced wrappers - Unified collateral pool lending models will be repriced - Every new collateral type doesn’t just add a market.. it adds a new risk on top - Lending/vaults protocols will increasingly compete on risk segmentation (im more bullish in modular pools) - More assets will prefer canonical issuance, native deployments, and limited bridge surface area - The cost of acquiring TVL on L2s & new dapps will keep going up: most lot of TVL was effectively rented through incentives, bridge convenience, wrappers, and leverage loops - That TVL will increasingly flow back to L1 & likely tradfi-linked assets - Human devops is the worst design by nature :(

Earlier today we identified suspicious cross-chain activity involving rsETH. We have paused rsETH contracts across mainnet and several L2s while we investigate. We are working with @LayerZero_Core, @unichain, our auditors and top security experts on RCA. We will keep you posted as we learn more about this situation. Please follow only the official @KelpDAO handle for the updates.


Kelp DAO's rsETH bridge apparently exploited for roughly $292 million in LayerZero-based attack theblock.co/post/397988/ke…




