With the growth and specialization of decentralized finance, we can sometimes notice the emergence of more and more complex developments and protocols. We are delighted by the inventiveness of some people and the creativity that drives this ecosystem. Unfortunately, this increasing complexification may sometimes lead to security breaches. It may also open the door to unsuspected operations.

Recently, “Balancer” has been the victim of a very well-prepared and engineered attack (see below). Obviously, no one can be blamed for this attack, as error remains human and the code is first and foremost human. Unfortunately, some users’ funds were lost as a result. The team in charge of the project finally decided to reimburse its users.

The question now is about the adoption and massive integration of these technologies in real life, with lambda users. Is such complexity being compatible with the objective of mass adoption of decentralized finance tools? For individuals to be comfortable with these new tools, it’s essential to understand them but also to feel secure.

KISS&P (slightly modified): Keep It Super Simple and Pragmatic. This old principle from the 60s (https://en.wikipedia.org/wiki/KISS_principle), as simple as it may sound, should perhaps be used as a guide for our development orientations, also in the DeFi area…

“Balancer Pool with STA Deflationary Token Incident” – https://medium.com/@1inch.exchange/balancer-hack-2020-a8f7131c980e

No responses yet

Leave a Reply

Your email address will not be published. Required fields are marked *

*

code