/biz/ - Business & Finance

>>50835700
Shit happens anon..
CURVE was careless with the UI

>>50835700
Big ups to project that puts customer funds safety first place...

>>50835700
To understand this, normies first have to understand how risky crypto is and how to take safety measures. Most of them are in for some quick money making

>>50835815
That's the point. We need to do better with our observations and understandings of our investments.

>>50835700
n

>>50835899
Let's be honest though, even after ensuring yo have the most safe investment, crypto is still volatile. I think diversification is the only thing apart from research that can minimize risks

>>50835700
>more stricter
You really are a negro.

>>50835815
If you are not fucked for being careless then the platforms you interact with get fucked! Is there anyway end users like me ever win?

>>50835855
What projects are even doing that though, pajeet

>>50835855
None give af about users kek

>>50835700
>>50835899
>> The space is ruthless, the earlier you code the better

>>50835886
Fake identities, phishing schemes, anyone demanding payment in crypto only, rug pulls associated with games and digital collectibles, even romance scams are found in this market. It's so important to be careful, kek. I dont know how everyone keeps getting scammed.

>>50836002
Let's be honest though, who would have suspected this would happen to Celsius or Curve Finance and what different is any other project

>>50835922
This anon has a point. We need to utilize different strategies to decrease our risks. Diversity is one of them

>>50835945
As a Kek do you expect to win?
think twice.
>> I've always had cash. I intend to invest almost all of it as soon as I decide the best timing and allocation. Seems like now would be a bad time to buy real estate and a bad time for lump sum investing into stocks. I'll just dca in over the next couple years. And if we get a capitulation event I'll dump it all in at that time

>>50835700
Last I heard Celsius declared bankruptcy, what happened to Curve Fi

>>50836052
Celsius investors have now turned to court for assistance. And Celsius dropped their plan to rehire their executive at fucking $93k a month.

Curve Fi got hacked and around $570k was stolen. Sad times

>>50836041
Fucking hell, you must be one of those losers who don"t believe in themselves, i don't breathe your air so fuck off!

>>50835700
n

>>50836087
Aside from the war, recession, hacks like these, Nomad losing almost 200 million dollars in a hack, Sol's hack, the Harmony One bridge hack, these are testing times

>>50836199
Yeah, it definitely is. You'd think hiding under your stablecoins would be a safe bet but we're being proved otherwise

>>50836216
Not necessarily. It may still be a safer option if you're staking 1 to 1 backed stablecoins like USDC and know which yield generator or platform to use,

>>50836199
More than ever its proven that security of assets should be made paramount in the DeFi space before thoughts of institutional adoption.

>>50835980
Think CZ mentioned this about Binance in one of his recent tweets.

>>50836343
The issue still arises, you use a single yield generator and your portfolio isn't diverse enough to minimize risks. What happens when that specific one gets compromised

>>50836719
Agreed, definitely.
>>50836761
Was the tweet a recent one

>>50835700
Even investors have thrown safety away recently; they're looking for multiple Xs in hours. There's nothing safe about that.

>>50835886
Exactly what I was just saying.

>>50835922
>crypto is still volatile.
Probably the reason why many investors opt for stable coin investments at this time.

>>50835980
>What projects are even doing that though
I think Defi middlewares that are coming up are huge on it. Only faggots won't pay attention to them.

>>50836216
I don't rate algorithmic backed stables. I only invest in fiat backed stables like USDC and DAI; These ones are not going anywhere anytime soon. Staking them has been fun.

>>50836761
Don't forget that "not your keys, not your coins"

>>50837206
Basically you get fucked just like everyone who used Curve is currently.

>>50837206
>you use a single yield generator and your portfolio isn't diverse enough to minimize risks.
That's a problem that smart devs would identify and introduce solutions to solve it.

>>50837479
The thing with DeFi middlewares is that you barely ever hear of them. I can list three by heart out if which I only have seen one used. Spool Fi, bEarn Fi and PancakeBunny. So how can anyone know about it, kek

>>50837629
We know there's a problem and we know there needs to be a solution. We just don't know who these smart devs are.
>>50837623
Exactly this. A small amount wasn't lost with Curve.

>>50837548
Retard DAI is an algorithmic backed stablecoin, are you still being breast cause you sound dumb af!

>>50835700
>>50835815
Curve was a fucking DNS hijack, through their provider, completely out of their hands. You can't really stop that just like you can't stop sim swap attacks if you're using texts for 2FA.

The problem is ancient networking infrastructure was not designed for security. If you want to securely use any DeFi app you have to literally clone the UI repo, verify the hash, and host a local webserver, you are actually at risk no matter what using a website.

A robust solution providing both security and sane UX would require a complete reworking of how frontends are distributed and accessed.

>>50836087
570k is extremely small price to pay for Curve. its an absolute win for them

>>50837399
>stable coin investments
>>stable coin
>>investments

>>50837728
The last I heard, I think it was stated that about half a million dollar was lost to the hack, the industry still has a long way to go when it comes to security.

>>50835980
They're a few around else we won't be having the hacks we see every now and then

>>50835999
Well i think thats an issue, cause they've made the few that do so invisible.

>>50837583
Only if we pay attention to this phrase more, we'd have a better DeFi experience... I personally prefer interacting with DeFi over anything else, the fact that only me have access to my funds makes it unique.

>>50837704
I've been opportuned to use the 3 and though Pancakebunny is most popular, Spool seemed to be most efficient and this is because of the other features they bring in, like optimizing gas using the buffer system of withdrawal, which allows users to pay almost zero gas fees during withdrawals, or the fact that users get to choose their risks and APY... while for BeamFi i think it could learn a few from both Spool and PancakeBunny.

>>50837623
This again shows the need of a system that embraces past one generators, and in a way that the staked assets brings the best or returns for the users.
Of course we have a few of these kind of aggregator but efficiently I'd go for a middleware that will give me the freedom and flexibility to decide how much I'm risking and how it affects the returns I get.

>>50836052
Curve Finance hack wasnt serious, was a bridge of UI, team should be doe with fixing that shit.
>>50836199
Real testing times indeed
>>50836216
>> regardless staying in stablecoins is still safer than aything

>>50837548
DAI is the real decentralised money,
USDC is centralized..
>>50837583
Thats the slogan.. haha
>>50838938
Am either for Pancakebunny or Spool, nonetheless got fucked back then on pancakebunny

>>50839768
That's why I said Spool seems to be the most efficient to me, my reasons are simply cause i get to chose my risk as well as income so I don't get surprised later on.
sorry for what happened to you with pancakebunny

>>50835855
Customers should try to put their safety first, there are basically lots of security protocols out there including identity security.

>>50835945
Leaving your assets on a centralised platform is an example of being careless, move them to a secured wallet and have them protected with an asset management tool.

>>50836719
Not just security but also ability to control ones assets seamlessly from a single point.

>>50837343
it is what it is

>>50837629
>>50837728
Someone already mentioned Defi middlewares; those are the sort of platforms that can circumvent these challenges since they'll be connected to an array of yield protocols and would automatically reroute investors funds as the need arises.

>>50837704
The devs that developed the Spool platform really did a good job. So far, I don't even see any competitor in the market for them. Purely original Degen

>>50838200
Probably that's why privacy and security protocols are experiencing an upsurge lately.

>>50840722
After years of being in the crypto space this is literally an example of shooting yourself in the foot, would rather make use of non-custodial wallets.

>>50838651
The defi middlewares took a cue from that because I know that Spool doesn't have any central wallet where investors funds are kept; just smart contracts for routing these funds to the preferred yield protocols.

>>50838938
That's true; Even though Spool is built on Ethereum chain, the gas fees are little or nothing compared to what's obtainable elsewhere. That's one feature that the devs really did so well with and it will make them standout.

Qrd on curv? I'm not really into defi

>>50841429
Quite innovative they were able to solve the issue of insane transaction charges, their idea behind the Spool buffer system is really commendable.

>>50841349
How does Privacy protocol help in the case of curve finance hack?

>>50839768
are you fucking retarded, DAI has USDC in it

>>50835886
Fucking risky! The road to safety is having a single sign-in solutions for cross-chain interoperability.

>>50839966
Sounds like it got all sorted out, worth checking out

>>50840654
unfortunately only a hadfull gaf, Binance is a partner at this.
>>50841313
Atleast so far, they've got alluring pool with risk mitigation strategies

>>50842060
don't drag it, DAI is the truest decentralise money i web3.

>>50841378
Absolutely true, moving assets to a non-custodial wallet protected by a security protocol which gives full control to wallet owners.

>>50842174
A single point of access to access multichain, very well said.

>>50839174
To make this even tastier; you can get these services on Spool at little/no cost since the performance fees are charged a max of 20% of profits generated.

>>50839768
>nonetheless got fucked back then on pancakebunny
I haven't really explored that platform. Might find time to look into what it offers.

>>50841581
It's really commendable considering that it is built on the Ethereum chain.

>>50843329
Are you referring to the single access point to the array of yield protocols that Spool is connected to?

$qom is as secure as any other coin recommended in this board so i think im ok

>>50843915
I think anon is referring to a single access point like ORE ID which serves as a wallet for wallets where one can access different chains just from one platform without having to worry about different keys or passwords.

>>50841383
This is interesting, cause aside tis, I know they also had their bug bounty recently, with a reward pool of $1.5m. This sows how much concern they have for securing users funds.

>>50843774
I guess the team behind this project had the bearish market in mind, I mean it's well planned.
first they deal with stable coins, then they made gas fee almost zero and again, users get to choose their risk.
it's obvious this was an intentional success

>>50841313
I feel it was intentional, they planned developing something unique, and we all can tell how unique this project is now.

>>50841604
You just don't get the information he is trying to pass across. Privacy protocols are just a safe haven right now, especially with the hacks and regulations coming into the space. The ones like Secret Network that offers smart contract encrypted data will give projects building on them more privacy protection.

>>50845532
>with a reward pool of $1.5m
Hehe;it shows the level of confidence they have in what they've put out there.

>>50845812
I hear they now offer DAO treasury management services. More utilities keep springing up by the day.

>>50842174
>Single sign-in solutions
Wasn't this what fucked Harmony up?

>>50838078
the fact that there are still so many points of centralization and failure in the space just shows how long we have to go. Everyone knows 90% of the fucking eth apps are hosted on normal webservers in datacenters. Oh you want 300 nodes? okay time to spin up 300 ec2 instances. Nothing is TRULY decentralized yet except XMR but even then normies don't have enough hashing power to fight a large entity.

>>50848560
>the fact that there are still so many points of centralization and failure in the space just shows how long we have to go

You can't build an emerging tech on an archaic technology, the current internet needs a lot of tweaking before it can be secured enough for the crypto industry.

>>50835700
Agreed. I also feel that now that safety is paramount, any platform that focuses on asset management and security would thrive in the coming months.

>>50849013
Kek..talking about security if it's not even quantum resistant then for sure you are gonna get rekt. The threats are just increasing rapidly. I have chose Qanplatform which use the top class algorithm which is approved by the NIST.

>>50835700
I feel maiar to be safe and I have staked UTK there for an APY upto 35% seems reasonable to me.

>>50839768
>>50842618
DAI is literally backed primarily by USDC, it's not decentralized and it WILL be cucked by Blackrock the moment regulators decide to rein DeFi in. Also get ready for DeFi projects to integrate KYC protocols to avoid getting BTFO by uncle scam, pic related.

>>50835886
Users would definitely need to take extra security measures and one of them would be privacy solutions for transactions and assets to leave sensitive data out of the reach of hackers.

>>50837343
There is no middle ground.
You either make it or fail spectacularly.

Now go mortgage your house, and sell everything you own to buy more BTC!

>>50853125

>>50839966
>Basically you get fucked just like everyone who used Curve is currently.
Isn't Curve finance one of the yield protocols usd by this shit?

>>50836025
Security matters anon. Those are cedefi. What happened to blockchains like Polkadot and Geeq with multichain ecosystem? Plebs just love to lose money.

>>50837776
They never learn do they? Anyone who overlooks blockchain right now is a retard. Surely, it's not so difficult to understand?

>>50835700
You niggers never learn and this is why you'd always be victims. There are a ton of other solid asset management protocols out there,but you choose to stick with washed up projects with shady devs

>>50853757
The platform is connected to an array of yield protocol and would automatically reroute investors funds to other platforms if the need arises. That's a key point for them.

>>50853861
So an array of shits basically? Pajeet

>>50848560
Don't be too quick to conclude anon. Multi-blockchains with PoH consensus haven't been explored yet and are almost impossible to hack. You need to broaden your horizon.

>>50848643
Those developments are coming tho. It might take time but will surely get here. No idea why jeets are hung up on clesius and monero when the likes of geeq are out there. Too lazy to research?

>>50853856
Due to the fact that staking is currently the top priority for investors, I believe projects that support it with high apy will likely do better.

>>50853928
Faggots everywhere just saying trash. Would you say Aave, Compound, Convex, Harvest are also shit? Certainly not! These are the easy alternatives to reroute investors funds into with no hassles at all like gas fees.

>>50850623
How do they maintain such a high apy? I use the Freeway supercharger to get a fair fixed apy. I believe nothing now tops that.

>>50843845
Etheruem is one of the leading blockchains and one protocol built on it that caught my attention is Railgun for delivering privacy on assets and transactions.

>>50842618
Web3 is just getting started and I think platforms that bridge Web2 to Web3 would take centre stage in the next bull cycle.

I got burnt, 500k>50k, and I was so close to buying a house lol. It's gonna be almost impossible psychologically to not buy a house when I get to 500k again.

>>50854158
We are all degens here. People jump into projects because of the possible gains and turn a blind eye to the possible losses. That's how the APYs are maintained

ICP would have avoided the Curve.fi losses.

This is the most uncanny valley thread I've ever seen. Never seen so many "I have thought but I must Submit" posts.

Ah, it's a Spool marketing thread. Absolute glowing niggers.

>>50841277
Still doesn't solve the custody issue.