Leviathan News29 Juli 2024

Compound Governance Attack! w Bryan Colligan of Alpha Growth

In a shocking turn of events, Compound Finance, one of DeFi's pioneering lending protocols, has fallen victim to what many are calling a blatant governance attack. The incident has sent shockwaves through the crypto community, raising serious questions about the vulnerabilities of decentralized autonomous organizations (DAOs) and the apparent apathy plaguing some corners of DeFi. ______________ SPONSORS Leviathan News is thrilled to welcome YieldNest as our sponsor this month! This innovative liquid restaking protocol is making waves in the DeFi space with its flagship product, ynETH. By depositing your ETH at YieldNest.com, you can potentially unlock enhanced yields through exposure to a curated basket of Actively Validated Services (AVSs). Don't let your ETH sit idle – dive into the future of yield optimization at Yield Nesttoday. https://app.yieldnest.finance/restake?ref=4ZYhFKdSh5iZMsGQaVygg59bac9Z ---------------------- Today's Guest Socials: https://x.com/bryancolligan ---------------------- Compound is one of the oldest DeFi protocols, has never experienced a hack, was the pioneer of “liquidity mining” and remains today a major lending facility with over $2bn of deposits across multiple networks. The saga unfolded over the past few days, culminating in the passage of Proposal 289 - a controversial measure that allocates a staggering 499,000 COMP tokens (worth approximately $24 million and representing 5% of the total supply) to an LSD-style liquid locker controlled by a group known as the "Golden Boys." Led by a whale investor going by the handle "Humpy," this group managed to amass enough voting power on the open market to force through their proposal, despite vocal objections from key community members and security advisors. What's particularly alarming about this situation is the brazen escalation of the attackers' demands. An initial proposal for 92,000 COMP tokens was spotted and flagged by Compound's security advisor, Michael Lewellen. Despite Lewellen's warnings, the proposal received minimal attention on the DAO forum. After this first attempt failed, Humpy audaciously increased the requested amount by 5.4x in the successful third proposal. The lack of engagement from the broader Compound community is perhaps the most concerning aspect of this debacle. Only 57 addresses participated in the crucial vote, a pitiful showing for a protocol of Compound's size and importance. This apathy extends beyond this single incident - Compound's governance forums have been eerily quiet, with most proposals originating from a single entity, Gauntlet, which is paid to manage the DAO. This governance attack isn't Humpy's first rodeo. The investor has a history of similar behavior, having been involved in contentious governance struggles with other prominent DeFi protocols like Balancer and SushiSwap. These past incidents make the current situation at Compound all the more inexcusable. The implications of this attack are far-reaching. If a single whale investor can so easily sway the governance of a major DeFi protocol, what's to stop similar or even more damaging proposals in the future? The security of user funds could be at risk if this trend continues unchecked. For now, Compound Finance finds itself at a crossroads. The protocol's reputation has taken a significant hit, and rebuilding trust will be an uphill battle. As for the wider DeFi community, this incident should serve as a wake-up call. The promise of decentralized governance can only be realized if participants remain vigilant and engaged. Otherwise, we may see more instances of brazen governance attacks that undermine the very foundations of DeFi.

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The New Derive (formerly Lyra) Rebrand

Nick from Derive joins us to discuss the new Lyra rebrand. 00:00 Introduction and Background 04:28 Key Protocols Leading the DeFi Renaissance 07:28 Democratizing Finance with Options 11:45 The Value of Options in the DeFi Ecosystem 12:15 The Role of Options in the Future of DeFi 18:04 Derive's User Base and Target Audience 21:09 Derive's Move to Its Own Chain 23:30 The Benefits of the OP Stack 24:11 The Challenges and Opportunities of the Move to a New Chain 28:05 Choosing the OP Stack for Derive 29:03 The Early Days of Derive and the Importance of Optimism 30:03 The Opportunity on Base and Coinbase's Role in Pushing Utility on Chain 30:33 The Value of Playing a Long-Term Game in the Crypto Space 31:29 Partnerships and Potential in the Bitcoin Finance Space 33:23 The Bullish Outlook on Crypto and the Importance of a Long-Term Mindset 36:04 The Rebranding of Lyra to Derive and the Importance of Branding and Culture 39:35 Marketing Strategies and User Acquisition in the Crypto Industry 40:29 Why Choose Derive: High-Quality Margin Capability and a Strong Liquidity Network 44:40 The Future of Derive: Updates, Incentives, and a Relaunch of the Token 51:10 Community Engagement and Governance in the Derive Ecosystem Our links t.me/leviathan_news ⁠⁠x.com/leviathan_news⁠⁠ youtube.com@leviathan_news Feel free to add comments and talk to us everyone! Enjoy!

10 Sep 202456min

Thursday's Weekly Panel - V2's By Euler & Liquity, Stablecoins & the Rise of KEROSENE

The panel assembles to talk about weekly events (and weekly announcements) - as Joey Roth from DYAD and Colin Platt from Liquity are with Sam and DAdvisoor this week. Enjoy! Leviathan News links: t.me/leviathan_news ⁠⁠x.com/leviathan_news⁠⁠ youtube.com/@leviathan_news Feel free to add comments and talk to us everyone!

5 Sep 20241h 5min

MATIC Move To POL - Polygon's New Token Is Out!

Davide Silverman from Polygon is with us to share about the move to the new POL token and what it means. Enjoy! And thanks to our sponsors - YieldNest Finance! ⁠⁠⁠⁠https://app.yieldnest.finance/restake..⁠⁠. ⁠linktr.ee/yieldnest⁠ Leviathan News links: t.me/leviathan_news ⁠⁠x.com/leviathan_news⁠⁠ youtube.com/⁠@leviathan_news⁠ Feel free to add comments and talk to us everyone!

5 Sep 202432min

Liquity V2 Code Base REVEALED + Canto is DONE w/ Colin Platt

Samuel McCulloch and Collin Platt discuss the recently opened Liquity V2 codebase in the latest episode of Leviathan News. They explore innovative aspects of user-set rates and the potential impact on stable coins. The discussion also touches on the relevance of the Canto network and its ongoing issues with RWA-backed note stablecoin. The hosts reflect on the volatility of the crypto market and the importance of decentralization and trust in the DeFi ecosystem. 00:00 Introduction and Guest Welcome 00:45 Market Volatility and Liquity Code Base 01:11 Sponsor Message: Yield Nest 01:56 Excitement for Liquity V2 Drop 02:23 Discussion on SNL and Comedy 04:59 Stable Coins and Liquity V2 05:45 User Set Rates and Codebase Details 08:37 Forking and License Discussion 13:04 LQTY Voting Power and Reward Structure 19:10 Canto's Stable Coin Situation 21:24 Diverging Views on Stablecoins 22:28 Challenges with RWAs and Liquidations 24:11 Canto's Decline and TVL Issues 25:40 Whitelisting and Liquidity Concerns 27:33 Potential Solutions and Speculations 30:29 Broader Market Implications 33:37 Final Thoughts and Future Discussions

4 Sep 202443min

On-chain Agricultural Commodities backed by farmland - With LandX

We're honored to have 0xLandWalker, founder of LandX, on to discuss the project, its vision and ecosystem, commodities, and DeFi and markets in general. Enjoy! LandX: https://x.com/landxfinance And thanks to our sponsors - YieldNest Finance! ⁠⁠https://app.yieldnest.finance/restake... ⁠linktr.ee/yieldnest⁠ Leviathan News links: t.me/leviathan_news ⁠⁠x.com/leviathan_news⁠⁠ youtube.com/@leviathan_news Feel free to add comments and talk to us everyone!

3 Sep 20241h 50min

Leviathan News Weekly Panel - Maker to Sky, SEC and Open Sea with Captain Rational

A weekly panel on Leviathan News - Samuel and DAdvisoor are joined by non other than the Cap - Captain Rational - aka Noah Seidman for a talk about Maker's move to Sky, future of stablecoins, SEC going after Open Sea, and some implications. Enjoy! And thanks to our sponsors - YieldNest Finance! ⁠https://app.yieldnest.finance/restake...⁠⁠https://x.com/YieldNestFi⁠ ⁠linktr.ee/yieldnest⁠ Leviathan News links: t.me/leviathan_news ⁠x.com/leviathan_news⁠ ⁠youtube.com/@leviathan_news⁠ Feel free to add comments and talk to us everyone!

30 Aug 202455min

France goes to war with Telegram, arrests Pavel Durov w/ Officer CIA

In this special edition of Leviathan News, hosts Samuel McCulloch and DeFi Advisoor discuss the recent arrest of Telegram founder Pavel Durov by French authorities on multiple charges including accessory to illicit transactions, child pornography, narcotics distribution, and fraud. Featuring guest Officer CIA, the conversation explores the privacy and security implications for Telegram users who may consider taking precautionary measures.00:00 Introduction and Host Greetings00:35 Breaking News: Pavel Durov's Arrest04:11 Guest Introduction: Officer CIA (Vladimir)04:59 Telegram Security Insights06:44 Sponsor Message: Yieldnest07:22 Telegram's Privacy and Security Features15:18 Telegram's Global Usage and Legal Challenges32:39 Exporting and Managing Telegram Data37:18 Conclusion and Final Thoughts Officer CIA's linkshttps://twitter.com/officer_cia Check out our sponsor Yieldnest: https://app.yieldnest.finance/restake?ref=4ZYhFKdSh5iZMsGQaVygg59bac9Z Donate to Leviathan News: https://arbiscan.io/address/0x110d68F5DFA414E943181Dec3346D4CA0d6DE37F Telegram: https://t.me/leviathan_news Twitter: https://twitter.com/leviathan_news Discord: https://discord.gg/7WtnhqJ7za YouTube: https://www.youtube.com/@Leviathan_News Spotify: https://open.spotify.com/show/69yxNKomUIbdNMFoTjp49K

27 Aug 202444min

Yes Rollups, No Rollups - Leviathan News Weekly Panel

The guys join to discuss weekly events in the DeFi and crypto space. Thanks to our sponsors - YieldNestFi ! Links: https://x.com/YieldNestFi ⁠linktr.ee/yieldnest⁠ Leviathan News links: t.me/leviathan_news https://x.com/leviathan_news https://www.youtube.com/@Leviathan_News Feel free to add comments and talk to us everyone! Enjoy!

22 Aug 20241h 8min

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