DEIN Mainnet is LIVE! πΆ
We are changing how the world manages risk: Insure literally anything onchain and earn real yield by providing liquidity.
The trillion-dollar insurance industry just got an upgrade. π§΅
πhttps://t.co/kg4AUm8blk
proposal to add a new policy class on DEIN: promises made on twitter.
premium: high.
historical payout rate: also high.
coverage limit: $0.
declined on grounds of moral hazard.
OpenZeppelin founder yesterday: "I now consider all of DeFi unsafe."That's the guy who builds the locks telling you they don't work.
Read that again β
Polymarket whole job is using oracles to figure out what's true.
Today their oracle adapter got drained. Private key compromise.
The prediction market couldn't predict its own bridge.
This week's exploits:
A hard coded backdoor.
A deprecated contract nobody turned off.
A 4 year old function nobody re read.
An unprotected initialize().
All audited. All drained.