Published in Coinmonks·PinnedA Technical Post Mortem of SuperUMAn DAO (SuDAO) Hack — Flaws In Existing Governance ToolsMost DAOs today safeguard their treasuries using the Gnosis Safe Multisig wallets, one of the most popular smart contract wallets in the Ethereum ecosystem. Gnosis Safe offers flexibility through modules that are akin to what extensions are to modern browsers. The SuDAO (SuperUMAn DAO) uses a Gnosis Safe Multisig wallet…Blockchain8 min readBlockchain8 min read
Published in Coinmonks·PinnedAdvancing Blockchain Interoperability — Polkadot, Cosmos and AvalancheBlockchain platforms are emerging at a rapid rate. However, the need for interoperability is diminishing the network effect that could exist between these platforms. The power and value of exclusivity enable individual platforms to attract users but prohibit the industry from unlocking its full potential. For a global economy that…Blockchain11 min readBlockchain11 min read
PinnedA Deep Dive into the Ethereum Virtual Machine: Part IBlockchain technology has prompted a massive shift from traditional financial architecture and has evolved from an electronic cash system to an all-encompassing technological breakthrough with diverse use cases. Decentralized applications (dApps), built primarily on Ethereum, showcase the true potential of decentralization. Blockchain technology is, however, still far from mainstream adoption…Blockchain6 min readBlockchain6 min read
Published in Coinmonks·PinnedBeanstalk Exploit — A Simplified Post-Mortem AnalysisPreface Built on Ethereum, Beanstalk, a credit-based algorithmic stablecoin protocol designed with the intention of disrupting DeFi and the rent-seeking collateralized stablecoin market, lost $182 m in a flash loan attack on Sunday, April 17th, 2022. The attacker was able to identify and exploit flaws in the governance design. It enabled…Beanstalk6 min readBeanstalk6 min read
Published in Coinmonks·PinnedThe Basics of Blockchain Privacy: How to Remain Anonymous on the BlockchainPrimer — Blockchain is a public ledger that stores transaction data in encrypted blocks. Any transaction made on the blockchain is open for anyone to see. Anyone can see the transaction’s sender, receiver, and other details. …Blockchain8 min readBlockchain8 min read
Published in Coinmonks·Feb 9Decentralized Identity — Explained2022 saw billions wiped off the market, bringing down heavyweights and dominoes — the collapse of FTX and Terra, the bankruptcy of 3AC, Celsius, and Voyager. The infection is far and deep in the wake of FTX, which has been no short of what corona was for the physical world. …Cyptocurrency7 min readCyptocurrency7 min read
Published in Coinmonks·Jan 15Beanstalk Series — Beanstalk Peg Mechanism Ch. 2In this series about Beanstalk, we bring you to Ch.2, which addresses the mechanics of how the protocol maintains its dollar peg. After all, it’s the price stability that makes or breaks a stablecoin. Beanstalk Beanstalk is a permissionless fiat stablecoin protocol on Ethereum. The protocol is designed to remedy the…Stable Coin5 min readStable Coin5 min read
Published in Coinmonks·Dec 7, 2022Governance on Avalanche, Cosmos & Polkadot’s Power Play: OpenGovGovernance is the process of forming a consensus about how decisions are made. For DAOs and public blockchains, decentralized governance is important yet challenging. The large size of blockchains necessitates governance for management and coordination of the entire community toward a unified goal. Furthermore, effective blockchain governance is imperative for…Polkadot7 min readPolkadot7 min read
Published in Coinmonks·Nov 7, 2022Beanstalk Series — Types of Stablecoins Ch.1Primer — Beanstalk is a permissionless fiat stablecoin protocol. Beanstalk relies on credit as opposed to collateral and is designed to remedy the rent-seeking collateralized stablecoin market. It aims to create a decentralized, liquid, blockchain-native asset that is stable relative to the value of a non-blockchain-native asset. Disclaimer — This…Blockchain6 min readBlockchain6 min read
Nov 4, 2022Bifrost Finance — A tutorial on Liquid StakingBifrost is a web3 derivatives protocol that provides decentralized cross-chain liquidity for staked assets. It leverages cross-consensus message (XCM) to provide cross-chain liquid staking services for multiple chains. With the release of 420,000 KSM from the third batch of Parachain auctions, Bifrost’s SLP lets users maximize rewards through cross-chain staking. Introduction …Blockchain5 min readBlockchain5 min read
