# DeFi - decentralized finance



## derangedlawyer (8 February 2021)

Haven't seen a thread on DeFi, aka the hottest **** in crypto since last year.
Anyone been using Curve, YFI, AAVE, etc to borrow, lend or make sick APRs?
Anyone got lucky with retroactive airdrops such as UNI, DIGG, and now TORN?
Share your stories, ask questions.


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## orr (8 February 2021)

for those with an interest;


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## derangedlawyer (9 February 2021)

Straight from the Federal Reserve:


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## noirua (14 May 2022)

DeFi protocols declare losses as attackers exploit LUNA price feed discrepancy
					

The protocols lost millions of dollars because of the price inaccuracy following the LUNA price drop.




					cointelegraph.com


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## Garpal Gumnut (14 May 2022)

Midas was the last guy who tried DeFi. 

And it did not end well. 

You were warned. 

This is advice. 

gg


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## Dona Ferentes (14 May 2022)

The brain behind Terra was Do Kwon, a 31-year old Korean-born Stanford University computer science grad with ferocious ambition. So much so that he quit a job at Microsoft because it was too pedestrian. A whale in the crypto world, he has been likened to Apple founder Steve Jobs due to his relentless pursuit of “*ultra- decentralisation*”.

Kwon designed UST as a stablecoin tied to the US dollar. Stablecoins are the crypto equivalent of a safe asset and are useful for crypto traders wanting to park money in “cash” without exiting the crypto ecosystem.

But Kwon and his team didn’t want to own just any old-world fiat like US dollars to back up their 1:1 claim. Instead, UST’s stability was governed by algorithms and protocols that ensured total autonomy......

...... Alongside the billions wiped from UST investor books, Kwon’s fortunes have also shrunk. But, fortunately for him, it seems he was never motivated by money.

“We don’t intend to walk out of this journey being billionaires,” he told _The Generalist_ in November.

.........
and so it came to pass.









						A week of terra: behind the collapse of a $26b stablecoin
					

The collapse of terra coin has sent shockwaves through the market. This is how it happened.




					www.afr.com


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## 3 hound (14 May 2022)

Defi shows some promise but imo it is not developed enough to gain widespread trust amongst the population.

Worst case scenario the only defi that might become available would be central bank digital currency AKA  programmable money..that would undermine all the ideals, goals and principles of why defi started in the first place.


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## moXJO (14 May 2022)

Dona Ferentes said:


> The brain behind Terra was Do Kwon, a 31-year old Korean-born Stanford University computer science grad with ferocious ambition. So much so that he quit a job at Microsoft because it was too pedestrian. A whale in the crypto world, he has been likened to Apple founder Steve Jobs due to his relentless pursuit of “*ultra- decentralisation*”.
> 
> Kwon designed UST as a stablecoin tied to the US dollar. Stablecoins are the crypto equivalent of a safe asset and are useful for crypto traders wanting to park money in “cash” without exiting the crypto ecosystem.
> 
> ...



Kwon was warned last year that this exact situation would happen. Even goaded billionaires to do it.


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## noirua (25 December 2022)

> “Our analysis shows a fake collateral token is added and a malicious price oracle is used to liquidate current users. The loss is estimated to be >$12M.”











						DeFi flash loan hacker liquidates Defrost Finance users causing $12M loss
					

Blockchain investigator PeckShield found that the hacker manipulated the share price of LSWUSDC, leading to a gain of roughly $173,000 for the hacker.




					cointelegraph.com


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