Leviathan News

Welcome to Leviathan News, your go-to destination for all things DeFi, Crypto, and more! Join us for our daily livestreams as we delve into the latest news, trends, and developments in the exciting world of decentralized finance and cryptocurrencies.SummaryThe Llama Risk team, consisting of Val, Svetlán, and Wormhole, discusses their role in analyzing and assessing risk in the DeFi space. They provide detailed reports on various protocols, including Curve, and offer insights into the sustainability and security of these projects. They emphasize the importance of transparency and collaboration with protocol teams. The team also explores the topic of oracles in DeFi and the challenges they present. They discuss the performance of the Curve Oracle compared to other oracles and the need for multiple sources of data. They also highlight the benefits of the soft liquidation mechanism in Curve lending markets. LamaRisk, a decentralized risk assessment platform, discusses the direction of fully permissionless protocols and the challenges of building adoption for Curve lending. They also touch on the rise of Athena Labs and the importance of transparency in the DeFi space. The team shares their funding model, future plans, and their focus on scaling LamaRisk to support multiple protocol partners. They also mention their upcoming attendance at the Unstable Summit and Ethereum CC in July.Chapters00:00 Introduction to the Llama Risk Team17:05 The Framework and Services of Llama Risk47:25 The Importance and Challenges of Oracles in DeFi01:02:36 The Benefits of Soft Liquidation in Curve Lending Markets01:12:30 The Rise of Athena Labs and Transparency01:26:23 Upcoming Attendance at Unstable Summit and Ethereum CC

Amanda Tuminelli is the Chief Legal Officer at the DeFi Education Fund

Goldfinch, an RWA lending platform, is facing a default on one of its pools. The borrowers, LendEast, can only repay $4.25 million of the $10 million loan, resulting in a loss of 58% of the principal. The issue highlights the breakdown in risk controls and underwriting standards in RWA lending platforms. Goldfinch is pushing the responsibility of pursuing the claim onto the lenders, rather than taking action themselves. This default is not the first for Goldfinch, as there have been previous defaults tied to the founders. The recovery process for defaulted loans can be lengthy and expensive, discouraging lenders from pursuing legal action.

In this episode Aki from dlc.link joins to talk about his new decentralized trustless version of BTC that's launching this month.

Welcome to Leviathan News, your go-to destination for all things DeFi, Crypto, and more! Join us for our daily livestreams as we delve into the latest news, trends, and developments in the exciting world of decentralized finance and cryptocurrencies.

Alex Cutler & Ace Da Book are with us to discuss Velodrome and Aerodrome.

In this conversation, Samuel McCulloch, DeFi Advisoor and Colin Platt discuss various topics including April Fool's jokes, meme coins, stable coins, and the growth of Ethena. They also touch on the Euro stablecoin supply and the risks associated with Ethena. The conversation provides insights into the dynamics of the stablecoin market and the potential impact of Athena on the industry. They explore the potential market cap of stablecoins, the launch of Agora Dollar, and the role of interest rates in stablecoin adoption. They also touch on the concept of immutable protocols and the importance of composability in DeFi. The conversation concludes with a discussion on the Leviathan Points system and upcoming guests on the show.

The conversation discusses the controversial integration of Dai and Ethena, a structured product that creates a one-to-one short on centralized exchanges. The rapid growth of Ethena and its impact on the wider DeFi markets is causing concern. The guests, Paper Imperium from MakerDAO and Mark Zeller from Aave, express their views on the integration and the risks involved. They highlight the need for more thorough risk assessments and a slower approach to scaling the credit line. The conversation also touches on the speed of decision-making in MakerDAO and the importance of decentralized governance.

Unpacking Prisma hack, and much more...

Summary

The conversation discusses the recent exploitation of Prisma Finance and its impact on the protocol. It explores the prospects for recovery and the vulnerabilities in the Prisma protocol. The importance of disabling the vulnerable Zap contract is emphasized. The impact on stable coins and the pausing of the protocol are also discussed. The conversation delves into the post-mortem process and the transparency of Prisma. The concept of decentralization and immutability is explored, along with Prisma's ability to adapt. The macroeconomic changes and their ripple effects on the crypto market are analyzed. The conversation concludes with an examination of interest rates and risk in the crypto space, specifically in Prisma. The conversation covers topics such as the flexible and reusable design of Trove, the code of law paradigm in the crypto space, the future of financial products, updates on Yearn Finance and Curve Finance, tokenomics and emissions protocols, deterministic buy and sell pressure, the repricing of crypto markets, cross-chain liquidity and chain aggregators, a postmortem report on YFI, market incentive mechanics, the impact of incentives on financial products, market opportunities and liquidity fragmentation.

Chapters

00:00 Introduction and Overview

01:29 Prisma Finance Exploitation

04:03 Prisma Protocol and Vulnerabilities

06:27 Importance of Disabling the Zap Contract

07:30 Impact on Stable Coins

08:29 Pausing the Protocol

09:45 Post-Mortem and Transparency

11:28 Decentralization and Immutability

13:58 Prisma's Ability to Adapt

23:13 Macro Changes and Ripple Effects

29:09 Interest Rates and Risk in Crypto

39:26 Analysis of Interest Rates in Prisma

42:37 Flexible and Reusable Design

44:20 Code of Law Paradigm

46:13 Immutability and Governance

47:02 The Future of Crypto and Financial Products

48:26 Updates on Yearn Finance

49:54 New Features in Curve Finance

51:10 Tokenomics and Emissions Protocols

53:03 Deterministic Buy and Sell Pressure

55:26 The Repricing of Crypto Markets

57:14 YCRV and Price Stability

59:14 Cross-Chain Liquidity and Chain Aggregators

01:01:54 Postmortem Report on YFI

01:02:23 Market Incentive Mechanics

01:17:16 Repricing of the Market

01:20:46 Incentives and Financial Products

01:24:41 Market Opportunities and Liquidity Fragmentation

01:25:16 Closing Remarks

Welp. 25 years.