CookingCryptos

Former chef exploring the flavorful world of DeFi, NFTs, and Ethereum.

Contributor @deficollective_
Researcher for | @defiscan_info

[CookingCryptos @CookingCryptos]

@Divs_King Watsco

[DeFiScan @defiscan_info]

DeFiScan is live in Ethereum Security QF Round on @Giveth!

We're building verifiable insights into the maturity and risks of DeFi protocols. Providing developers better tools to build with decentralization in mind, and let users avoid single points of failure.

No more blind trust. Real data. Real ratings.
A more secure DeFi ecosystem.

If you have found DeFiScan useful and/or would like to support the development of the centralization risk infrastructure, please consider donating to us: https://t.co/1sluKbCEJJ

[CookingCryptos @CookingCryptos]

@CryptoKitties Let me in please

[DeFiScan @defiscan_info]

Thanks to the incredible support of 71 amazing donators and the @gitcoin team!

Your generosity and belief in this project mean the world to us, and we’re proud to be a Certified GGG in the GG23 OSS - Developper Tooling and Libraries!

Until next round, come uncover the decentralization levels of DeFi protocols with us!

[Paul @Paul_Web3_]

Happy to be part of this analysis on @pendle_fi!

Shoutout to @defiscan_info & @CookingCryptos for their awesome work.

[DeFiScan @defiscan_info]

That's a wrap!

Check the complete review here: https://t.co/S38QnOquEX

✍️Protocol Reviewer: @CookingCryptos, @Paul_Web3_, reviewed and published by the @DeFiCollective_

🛠️Pendle GitHub: https://t.co/o8OWjAqY8W

🦙DeFiLlama: https://t.co/DhUaJ1Hfo4

[Octant @OctantApp]

Time to meet our Epoch 8 cohort:

🧵 ⤵️

[zeugh.eth @theZeugh]

“With their help or without their help, they will be reviewed” - @TokenBrice

Great work!

@anticapture 🤝 @defiscan_info

[DeFiScan @defiscan_info]

In April, we set a simple yet ambitious goal for ourselves: achieving 90% DeFiScan coverage of DeFi TVL (on EVM chains) within 6 months

Back then, we had ~5.8% coverage
With the addition of massive protocols such as Aave & Maker, we now have 38.7%

Onward and upward!

[DeFiScan @defiscan_info]

What they assume decentralization is:

"In June 2020, the Compound protocol was decentralized with the launch of COMP and the full transfer of control to the community through governance."

VS.

What we scan:

[tokenbrice @TokenBrice]

A few weeks ago, the EF started to deploy assets in DeFi, and today, it allocates a grant to a decentralization-maxi information service provider 100% dedicated to DeFi.

It's great to see DeFi more acknowledged and supported by the EF!

[DeFiScan @defiscan_info]

We are thrilled to announce that DeFiScan received the support of the @ethereumfndn with a grant.

It will enable us to accelerate and ensure that more reviews are processed with the same precision and exhaustivity our readers value.

EF ❤️ DeFi(Scan)

[CookingCryptos @CookingCryptos]

@Paul_Web3_ @TokenBrice Hey @Paul_Web3_, I’m working on Pendle for DeFiscan right now. Send me a DM, and I’ll show you where we’re at!

[The DeFi Collective (🐜,🐜, 🐜) @DeFiCollective_]

GM

Thanks to the latest @PoolTogether_ proposal, our $POOL permaLP liquidity grew.

The Collective now holds ~$380k of vAMM BOLD LPs, aka ~8% of the token marketcap.

The Ants of the Month program also got a boost 👀

Deployment of permaLP are also ongoing with $PSM and $BOLD

[nils bundi @nilsbundi]

Unicorns storming the defi charts 🦄

@Uniswap v2 review is now also available on @defiscan_info thanks to @DeFiCollective_ contributors 💪

Make defi more transparent one protocol at a time

[nils bundi @nilsbundi]

King @haydenzadams knows when to respond

Markets can self-regulate, @DeFiCollective_ @defiscan_info set defi market standards

Lets show the world that we care about the safety and integrity of defi markets

[Mmilien.eth @mmilien_]

Very happy to have reviewed the security of Uniswap V3 for @DeFiCollective_ 's DeFiScan project. I'm looking forward to future contributions 😇

[tokenbrice @TokenBrice]

DeFiScan is live:

7 protocols were reviewed for the @defiscan_info launch, and many more to come.

Anyone can submit a review that will be verified by the team.

The l2beat of protocol decentralization stages is here and will keep getting better

[The DeFi Collective (🐜,🐜, 🐜) @DeFiCollective_]

Make sure to follow @defiscan_info, as there will be news in the coming weeks, and also the possibility for you, the community, to contribute to DeFiScan:
👉https://t.co/iJgipcGZVs

👉Follow us: https://t.co/2sasVFrNnV

[The DeFi Collective (🐜,🐜, 🐜) @DeFiCollective_]

The DeFi industry has always lacked a neutral tool to evaluate the decentralization of DeFi protocols. This is why we built DeFiScan!

DeFiScan is a website dedicated to decentralization assessments in DeFi protocols.

Much like @l2beat for L2s, the DeFi community now has a tangible tool for assessing decentralization for DeFi protocols. DeFiScan is paramount for the transparency and security of users in this ecosystem.

DeFiScan's evaluation criteria are transparent and can be applied to any protocol. These criteria are as follows:

⛓️ Chain: A protocol can only be as secure as the blockchain it is built on.. To estimate the risk, L2Beat assessments are authoritative.

🚨 Upgradability: Upgradability is the ability of a permission owner to make changes to a DeFi protocol. That permission owner can be a multisig, on-chain governance, or even no ownership.

🌤️ Autonomy: this criterion is dedicated to the external dependencies (oracles, external protocols…) and their risk of failure

🪟 Exit window: An exit window allows users to withdraw assets before an unwanted update is implemented in a DeFi protocol

🚪 Accessibility: There must be availability and diversity in user interfaces, so the user can access funds and interact with the protocol anytime and anywhere

When a DeFi protocol meets the requirements to be listed on DeFiScan, it obtains a “decentralization stage”, depending on the degree of risk associated with these criteria.

For the launch of DeFiScan, a first cohort of Protocol reviews has been added:
@LiquityProtocol
@0xDYAD
@VelodromeFi
@AerodromeFi
@PoolTogether_
@mavprotocol
@Possum_Labs
Hence, DeFi users get an idea about the genuine decentralization of a protocol and adapt according to their risk aversion!