DeFi

Blockchain as an industry needs a development and security layer. This is a huge missing piece of the puzzle, IMO.

I don’t know if it’s on-chain, but it must exist. There must be some ground level truth for engineering in our industry.

We need insurance. We need assurance.

The insurance alternative for crypto and more

👨🏻‍💻 Master of WSABI Labs 💾 Privacy Operative 🫀 HUMAN 📉 GPU Poor 🐥 DuckyScriptorrr

Agree. On the insurance-alternative side, we’re working to build this risk management layer for onchain finance and development at @nexusmutual 

The end-goal is to create FDIC-like coverage for all DeFi users and cover protocol’s natively.

This is essential if we want to onboard the masses.

Head of Community @nexusmutual | Safe Governance delegate | Researching risk in DeFi

There’s been more progress on this front, too. Sherlock’s incentive-aligned audits and their new bug bounty coverage are both a step in the right direction.
Immunefi has made big strides in the last 2 years, as well.
We have Seal 911 and other security public goods. Much better than it was on 2020.

Agreed. The part that I think a lot of people are overlooking is the need for some security buffer before it gets to insurance. A ground-level set of contracts, protocols, audits, etc. that says... anything being deployed professionally is safe. There's a 0.01-0.99% chance of vulns existing

No more 1/4 getting hacked.