The irony of the AI age: We spent years building CAPTCHAs to stop bots. Now, we're building APIs for bots to create accounts & interact freely. It's a flip from "Are you a human?" to "Are you a verified bot?" #AI#Bots#DigitalIdentity#TechIrony
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My preliminary understanding of the Balancer exploit is the following:
The attacker performs a massive "batchSwap", so that tokens are only moved after the entire batch execution, exploiting the calculation of "in" tokens given "out" tokens.
During many internal swaps, the swap delta Balancer calculates decreases significantly, and the delta becomes negative for both tokens.
Negative delta = pool owes tokens to an attacker.
- How does delta get decreased?
Here are three consecutive swap deltas:
(swap n)
A: -810057686826767072295 + 25626928172 = -810057686801140144123
B: -1188214603037651140957 - 17 = -1188214603037651140974
(swap n + 1)
A: -810057686801140144123 - 38000000000 = -810057686839140144123
B: -1188214603037651140974 + 142678241 = -1188214603037508462733
(swap n + 2)
A: -810057686839140144123 + 8793968805 = -810057686830346175318
B: -1188214603037508462733 - 142678224 = -1188214603037651140957
As we can tell, the net delta has decreased overall:
ΔA: -1620115373657113247613
ΔB: -2376429206075302281914
Which should never happen.
The root cause of the exploit probably lies somewhere in the "_calcInGivenOut" function, leveraging incorrect invariant calculation in such extreme liquidity conditions.
🧵How DAO governance really works in crypto…
1 whale vote > 2000 users 🐋💸
Decentralized? Yes. Accountable? Not really.
We need real solutions — @qblockchain is building governance that actually works.
#crypto#DAO#web3#blockchain#comics
GM and happy weekend everyone!
While everyone has been speculating about the latest discoveries below the pyramids, we have received exclusive pictures that show what's going on there:
Q Protocol 🤝 Internet Computer
2025 starts with a major integration: “ICP Chain Fusion Governance Modules” connect Q’s unique governance capabilities with the @dfinity ecosystem.
Governance is the next big thing in Web3, and Q Protocol (@QBlockchain) is already delivering it with cross-chain capabilities and shared governance security. #Web3#QProtocol#NextBigThing
Governance is the next big thing in Web3, and Q Protocol (@QBlockchain) is already delivering it with cross-chain capabilities and shared governance security. #Web3#QProtocol#NextBigThing
Q International Foundation, a regulated non-for-profit foundation supporting the Q Protocol, has published a transparency report.
Check it out to learn about the distribution of $QGOV tokens, the foundation’s token holdings, its involvement in Q governance and more. Whether you are a current or future $QGOV token holder, or simply curious, this report is essential reading.
The report can be downloaded under 👉https://t.co/opHpN3HdDo
In 2024, Web3 saw a staggering $1.19 billion in losses during the first half of the year alone, across various on-chain incidents. These incidents were often tied to poor governance structures, https://t.co/d2ZBMJA51z