Unchained

What Does the Curve Crisis Say About DeFi? - Ep. 527

Listen Later

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.


Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.

Show highlights:

  • 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
    • Thank you to our sponsors!
    • Crypto.com
    • Railgun DAO
    • Arbitrum Foundation
    • Thales DAO
      • Guest
      Sam Kazemian, founder of Frax FinanceLinks
      • Previous coverage on the Curve hack: The Chopping Block: Who’s to Blame for the Curve Hack?
      • Unchained: 
      • $52 Million Drained in Curve Finance Pools Exploit
      • Curve Founder’s Liquidation Could Trigger Chaos for DeFi
      • Curve Exploit Results in Largest MEV Block Rewards in Ethereum’s History
      • CoinDesk: 
      • Curve Founder Deploys New Liquidity Pool to Address FRAX Debt Situation
      • Spooked by Curve Liquidation Threat, DeFi Protocols Shore Up Defenses
      • Aave Should Block Curve Token Borrowing, Risk Management Firm Proposes
      • After the Curve Attack: What's Next for DeFi? 

        Learn more about your ad choices. Visit megaphone.fm/adchoices

        ...more
        View all episodesView all episodes
        Download on the App Store
        UnchainedBy Laura Shin
        • 4.6
        • 4.6
        • 4.6
        • 4.6
        • 4.6

        4.6

        1,185 ratings

        More shows like Unchained

        View all
        We Study Billionaires - The Investor’s Podcast Network by The Investor's Podcast Network

        We Study Billionaires - The Investor’s Podcast Network

        3,389 Listeners

        The a16z Show by Andreessen Horowitz

        The a16z Show

        1,091 Listeners

        Real Vision: Finance & Investing by Real Vision Podcast Network

        Real Vision: Finance & Investing

        903 Listeners

        TFTC: A Bitcoin Podcast by Marty Bent

        TFTC: A Bitcoin Podcast

        773 Listeners

        The Breakdown by Blockworks

        The Breakdown

        739 Listeners

        The Pomp Podcast by Anthony Pompliano

        The Pomp Podcast

        1,833 Listeners

        Thinking Crypto News & Interviews by Tony Edward

        Thinking Crypto News & Interviews

        253 Listeners

        What Bitcoin Did by Danny Knowles

        What Bitcoin Did

        276 Listeners

        Bankless by Bankless

        Bankless

        1,043 Listeners

        The Wolf Of All Streets by Scott Melker

        The Wolf Of All Streets

        246 Listeners

        All-In with Chamath, Jason, Sacks & Friedberg by All-In Podcast, LLC

        All-In with Chamath, Jason, Sacks & Friedberg

        10,247 Listeners

        Empire by Blockworks

        Empire

        166 Listeners

        Coin Stories with Natalie Brunell by Natalie Brunell

        Coin Stories with Natalie Brunell

        453 Listeners

        Raoul Pal: The Journey Man by Real Vision Podcast Network

        Raoul Pal: The Journey Man

        130 Listeners

        Forward Guidance by Blockworks

        Forward Guidance

        277 Listeners