$13 billion just left DeFi. Here’s why

Description

Kelp DAO was hacked for ~$293 million, and the ensuing fallout saw $13 billion withdrawn across popular DeFi platforms. The hack turned DeFi’s interoperability and ease-of-access into a liability. “One of the nice things about DeFi is there's such a little friction. So we think that all these “money legos” can stack on top of each other and make something really cool. But it's very hard to break the pieces apart when one of the ones in the middle has an issue.” Lygos Finance CEO Jay Patel joins Blockspace Live to explain how one DeFi protocol’s vulnerability/exploit turns into a liability for the rest of the market. 🎧 Catch the latest episode of 'The Blockspace Pod,’ in partnership with Blockspace Media!