EtherSchool

DeFi

wizard building public financial infra @morpho

Now that everyone understands the term, how does it apply to DeFi and onchain protocols?

Applied to DeFi, the Lindy Effect suggests that the longer a protocol operates without major incidents, the less likely it is to be hacked. For example, @uniswap v2 has been running since 2020 without facing any significant issues. Based on this, we can reasonably expect it to continue operating safely for the next few years.

This principle works well for immutable protocols like Uniswap. However, it becomes problematic when applied to upgradeable protocols such as Lido, Aave or Compound. These protocols have undergone multiple upgrades over the past year, either for improvements or to fix major bugs discovered in their codebase.

During the last Devconnect, I had an informal chat with the lead researcher of a well-known zk-rollup. I asked him how we should deal with the risks of hacks and bugs in L2s—are we really stuck relying on multisigs and trusting the social capital of the founders?

He replied that we should aim for what immutable protocols like Uniswap v2 represent.

But won’t that kill innovation?

What do you prefer: reliability or innovation?

During the last Devconnect, I had an informal chat with the lead researcher of a well-known zk-rollup. I asked him how we should deal with the risks of hacks and bugs in L2s—are we really stuck relying on multisigs and trusting the social capital of the founders?

He replied that we should aim for what immutable protocols like Uniswap v2 represent.

But won’t that kill innovation?

What do you prefer: reliability or innovation? https://warpcast.com/merlinegalite/0x9fa3a61b https://frame.weponder.io/api/polls/11573

Of course, I would like innovations to be accompanied by an even higher level of reliability than the "old" technologies, because everything is improving, but in fact, at this stage, I would probably prefer reliability until all the tests are finally carried out.
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