Robdog 🍾

Building @corkprotocol - The Tokenized Risk Protocol

Prev founded @toucanprotocol and Vultus (acquired)

[Robdog 🍾 @robdogeth]

https://t.co/wI9DgDHABa

[Robdog 🍾 @robdogeth]

Bear markets are when these kinds of lists gets built

My top 2: insurance for vault deposits and onchain reputation for borrowers/lenders

One thing missing from this list: risk primitives for agents

[Stacy Muur @stacy_muur]

Things I want to see built in crypto next ↓

1. Insurance for vault deposits

2. Credit scores for neobanks

3. Onchain reputation for borrowers/lenders

4. Better tax reporting tools

5. Stablecoin escrows

6. A decentralized Moody’s for protocols

7. Private perps, prediction markets, and DEXs

8. Prediction markets for yields and gas fees

9. Secondary markets for unvested tokens

10. Private reusable KYC

Who's building these?

[Cork Protocol @Corkprotocol]

DeFi TVL fell 24% in 2026, RWAs grew 38%

That divergence is the whole thesis from @robdogeth, @borjaneira_, and Bryan Choe (a Cork x @RWA_xyz collab)

[CoinMarketCap @CoinMarketCap]

OpEd: 🗣️ Tokenized RWAs will thrive during the next crypto downturn because their yield is anchored to real economic activity, not crypto leverage, argue Cork's Rob Schmitt, researcher Borja Neira, and RWA.​xyz's Bryan Choe.

https://t.co/CTgKlvInhi

[Robdog 🍾 @robdogeth]

@ImperiumPaper Regardless of the reconciliation path, Aave WETH lenders should be made whole. Expanded on this here:

https://t.co/924DmH9Ymc

[Robdog 🍾 @robdogeth]

1/ 🧵 $292M of rsETH — was drained from @KelpDAO's @LayerZero_Core bridge in a single forged message. 48 hours later, $13B of DeFi TVL had walked out the door whilst it remains unclear where the losses actually will land. Let's unpack the ecosystem impact.

[Robdog 🍾 @robdogeth]

@duonine Either way WETH lenders should be fully whole. Expanded on this here:

https://t.co/924DmH9Ymc

[Robdog 🍾 @robdogeth]

1/ 🧵 $292M of rsETH — was drained from @KelpDAO's @LayerZero_Core bridge in a single forged message. 48 hours later, $13B of DeFi TVL had walked out the door whilst it remains unclear where the losses actually will land. Let's unpack the ecosystem impact.

[Robdog 🍾 @robdogeth]

@0xKolten Shouldn't WETH lenders be fully covered regardless of reconciliation path? Expanded here

https://t.co/924DmH9Ymc

[Robdog 🍾 @robdogeth]

1/ 🧵 $292M of rsETH — was drained from @KelpDAO's @LayerZero_Core bridge in a single forged message. 48 hours later, $13B of DeFi TVL had walked out the door whilst it remains unclear where the losses actually will land. Let's unpack the ecosystem impact.

[Robdog 🍾 @robdogeth]

@omeragoldberg Wrote a broader ecosystem impact piece on this here too:

https://t.co/924DmH9Ymc

[Robdog 🍾 @robdogeth]

1/ 🧵 $292M of rsETH — was drained from @KelpDAO's @LayerZero_Core bridge in a single forged message. 48 hours later, $13B of DeFi TVL had walked out the door whilst it remains unclear where the losses actually will land. Let's unpack the ecosystem impact.

[Robdog 🍾 @robdogeth]

@DeveloperDude_ ❤️

[Robdog 🍾 @robdogeth]

1/ 🧵 $292M of rsETH — was drained from @KelpDAO's @LayerZero_Core bridge in a single forged message. 48 hours later, $13B of DeFi TVL had walked out the door whilst it remains unclear where the losses actually will land. Let's unpack the ecosystem impact.

[Robdog 🍾 @robdogeth]

@aave WETH lenders should be fully covered regardless of which reconciliation path Kelp takes, unpacked here:

https://t.co/924DmH9Ymc

[Robdog 🍾 @robdogeth]

1/ 🧵 $292M of rsETH — was drained from @KelpDAO's @LayerZero_Core bridge in a single forged message. 48 hours later, $13B of DeFi TVL had walked out the door whilst it remains unclear where the losses actually will land. Let's unpack the ecosystem impact.

[Robdog 🍾 @robdogeth]

@ChainLinkGod Yea and now the real question is who eats the losses?

Dove deeper into it here:

https://t.co/924DmH9Ymc

[Robdog 🍾 @robdogeth]

1/ 🧵 $292M of rsETH — was drained from @KelpDAO's @LayerZero_Core bridge in a single forged message. 48 hours later, $13B of DeFi TVL had walked out the door whilst it remains unclear where the losses actually will land. Let's unpack the ecosystem impact.

[Robdog 🍾 @robdogeth]

@phtevenstrong Now the big question is how they reconcile the situation, who takes the haircut, all rsETH holders or only the unbacked wrsETH on L2s?

Unpacked here:
https://t.co/924DmH9Ymc

[Robdog 🍾 @robdogeth]

1/ 🧵 $292M of rsETH — was drained from @KelpDAO's @LayerZero_Core bridge in a single forged message. 48 hours later, $13B of DeFi TVL had walked out the door whilst it remains unclear where the losses actually will land. Let's unpack the ecosystem impact.

[Robdog 🍾 @robdogeth]

@arbitrum Real question is if those funds will go towards backing rsETH and if so will holders on L1 be fully whole and losses socialized on L2 or socialized against all L1 holders incl lenders?

Unpacked in detail here:
https://t.co/924DmH9Ymc

[Robdog 🍾 @robdogeth]

1/ 🧵 $292M of rsETH — was drained from @KelpDAO's @LayerZero_Core bridge in a single forged message. 48 hours later, $13B of DeFi TVL had walked out the door whilst it remains unclear where the losses actually will land. Let's unpack the ecosystem impact.

[Robdog 🍾 @robdogeth]

@kpk_io Quite unclear if there is even going to be bad debt on L1 given rsETH is still fully backed: Unpacked here

https://t.co/924DmH9Ymc

[Robdog 🍾 @robdogeth]

1/ 🧵 $292M of rsETH — was drained from @KelpDAO's @LayerZero_Core bridge in a single forged message. 48 hours later, $13B of DeFi TVL had walked out the door whilst it remains unclear where the losses actually will land. Let's unpack the ecosystem impact.

[Robdog 🍾 @robdogeth]

24/ I'll keep writing these as more updates comes out. Follow @robdogeth to stay posted

[Robdog 🍾 @robdogeth]

23/ A state-actor attack at this scale is part of the game. The question isn't whether these events happen again — it's whether the stack evolves to price them upfront, or keeps absorbing them with large cascading ecosystem consequences.