DeFiScan

@defiscan

23 Following

6 Followers

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We trusted governments; they failed us We trusted corporations; they robbed us We trusted billionaires; they played with us How about we stop trusting and harness the core - humanity changing benefit - that blockchains enable? Do not give even the chance to be evil. defiscan.info

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Sky's decentralization review @makerdao' Sky is a stablecoin protocol allowing users to mint its USDS stablecoin through Collateralized Debt Positions with a variety of crypto collateral assets. Sky is built on the Maker protocol, by the MakerDAO, to replace the DAI stablecoin and allow for the 1:1 conversion between DAI and USDS. USDS can further be staked for the yield-bearing sUSDS token. Various levels of control over the Sky protocol are exercised through an onchain governance system.

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PART 2/2 Aave V3's decentralization review: Stage 0 Direct minting and burning of $GHO through the Risk Council is managed through the GhoDirectMinter contract and limited by minting caps which are controlled by the Aave Governance. Both the GhoStabilityModule and the GhoDirectMinter as well as the respective aToken and variableDebtToken contracts are upgradeable by the Aave Governance opening the possibility of uncontrolled minting or burning of GHO in case of an unintended upgrade. If abused, this control thus introduces a risk of loss of funds, loss of unclaimed yield (accrued interest in GHO) or an otherwise material impact on the expected protocol performance for GHO holders and Aave users.

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PART 1/2 Aave V3's decentralization review: Stage 0 Aave v3 is a lending protocol that allows users to lend and borrow different ERC20 assets. Users are able to create positions that consist of debt in different loan assets which is secured by different collateral assets. The lending market allows anyone to liquidate insolvent positions, based on an external price feed and specific collateral factors representing an asset's specific risk profile. Furthermore, instead of borrowing supplied assets, Aave V3 also issues its own stablecoin, GHO. Users can borrow and lend GHO like any other asset in the system. The Aave DAO is Aave's onchain governance system, allowing AAVE, stkAAVE and aAAVE holders to govern over various aspects ranging across treasury management, risk management and strategic initiatives. Different Aave Instances exist and are managed by the Aave DAO. Each focuses on specific use cases and chains. This review covers the Ethereum Mainnet instance.

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Aerodrome's DECENTRALIZATION review: STAGE 1 @aerodrome is an Automated Market Maker designed to serve as the liquidity hub for the Coinbase ecosystem. The protocol has many features: - Multiple liquidity structures like x*y=k from Uniswap V2, Stableswap from Curve, Concentrated Liquidity from Uniswap V3 - ve(3,3) incentive layer

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GM and friendly reminder that if you appreciate the work we are doing, you can contribute and earn for it in many ways! No need to be technical or a super developers to take part, as our Ant of the Month program rewards all types of contributions! Join the discord -> https://discord.gg/tYyJW76kAn

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GM Ants, we will organise a community call this Thursday: - The latest news about the Collective and DeFiScan - News from the supported protocols - Answer any of your questions! You can share yours in advance here or on X : https://x.com/DeFiCollective_/status/1909219013814612066

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DeFiScan is in the GG23 OSS Round (Developer Tooling and Libraries)! DeFiScan is building a framework and dashboard (MIT license) to provide unbiased insights into DeFi projects. We analyse and monitor the decentralization stage of DeFi protocols through thorough peer-reviews made by our in-house decentralized researchers and with YOU in our various community initiatives! Follow us to learn more and, please, consider supporting here: 🔗 https://explorer.gitcoin.co/#/projects/0xfea413dfe93e444462785e29ac6d024133219ed459163edede986adb84ed2711 (any amounts >1$ helps us tremendously)! Thank you @gitcoin for supporting d/acc builders and fostering opensource funding!

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DeFiScan is in the GG23 OSS Round (Developer Tooling and Libraries)! DeFiScan is building a framework and dashboard (MIT license) to provide unbiased insights into DeFi projects. We analyse and monitor the decentralization stage of DeFi protocols through thorough peer-reviews made by our in-house decentralized researchers and with YOU in our various community initiatives! Follow us to learn more and, please, consider supporting here: 🔗 explorer.gitcoin.co#/round/42161... (any amounts >1$ helps us tremendously)! Thank you @gitcoin for supporting d/acc builders and fostering opensource funding!

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DeFiScan is in the GG23 OSS Round (Developer Tooling and Libraries)! DeFiScan is building a framework and dashboard (MIT license) to provide unbiased insights into DeFi projects. We analyse and monitor the decentralization stage of DeFi protocols through thorough peer-reviews made by our in-house decentralized researchers and with YOU in our various community initiatives! Follow us to learn more and, please, consider supporting here: 🔗https://explorer.gitcoin.co/#/round/42161/863/51 (any amounts >1$ helps us tremendously)! Thank you @gitcoin for supporting d/acc builders and fostering opensource funding!

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Compound V3's DECENTRALIZATION review: STAGE 0 Compound V3 is a lending protocol that accepts a base asset as liquidity and allows borrowing this base asset with a variety of other assets as collateral. Multiple base assets are supported such as $USDC, $WETH, $USDT, $wstETH, and $USDS. Each base asset represents an isolated lending market managed by a separate instance of the protocol. Compound governance is able to update various parameters for each of these markets.

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JOIN US live later today to present out project in the @giveth x @ensdomains x @octant Quadratif Funding round! We raise funds here (https://giveth.io/project/defiscan) to provide users and developers with verifiable insights into the maturity and risk metrics of various DeFi platforms! Any donation helps, no matter the size anon! https://x.com/OctantApp/status/1902784258068099405

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We will organise a community call this Thursday! We have lots of news to share, this is the opportunity to catch up with the latest news about our operations and the @deficollective's, and ask your questions🐜 https://x.com/i/spaces/1LyxBWzvZPrKN/peek

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Like Unicorns? Us too! Here to @uniswap V3 on @ethereum and @arbitrum! Uniswap V3 is the Automated Market Maker (AMM) at the origin of concentrated liquidity, where liquidity providers can specify custom price ranges in which their liquidity is active🧵

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Let's review @velodrome the famous Automated Market Maker combining the best of Curve, Convex and Uniswap, designed to serve as the liquidity hub of the Superchain with ve(3,3) incentive layer. Velodrome is Stage 1! 👏

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Time to check the decentralization stage of another DeFi protocol! Today, it will be @ajna V2, the first protocol on DeFiScan that reaches Stage 1 & the first ever community-initiated review!🧵

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Let's deep dive into one of the first protocols we reviewed: @pooltogether currently one of only three protocols scoring a Stage 2 - the max grade!

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With @defiscan now launched, it's time to populate the database! We are aiming for >90% coverage within the first six months. To achieve this ambitious goal, an incentivized review program was launched, offering 500 $LUSD submitted reviews on a scope of 26 protocols:

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@defiscan offers a framework formalizing the decentralization stages of protocols. This means you can review any protocol yourself! The framework guidelines are explained on the DeFiScan website so anyone can understand each criterion and what risk assessments they involve. Some development teams are already creating their protocol review according to DeFiScan guidelines, and any DeFi user can do the same. The guidelines 👉https://defiscan.info/learn-more

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Congrats to the 18 winners! As for @defiscan_info, we didn't win this time, but we're not discouraged!🌱 Excited to try again next epoch and do better. Let's gear up for the next round and, thanks to all our voters and the @OctantApp team for the support!

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