The Irrational Nature of DeFi Multisigs
The issue with multisigs in DeFi goes far beyond the limitations of the technology. It extends into an area of philosophy that most in this … Read more
DeFi
Is BEAN a stablecoin contender?
🔥 Beanstalk Farms is a financial supporter of Blec Report. When Beanstalk Farms became a supporter of Blec Report back in February, I didn’t know … Read more
The real problem with Ethereum L2s
At first glance, Ethereum Layer 2s (L2s) seem to offer so many benefits over Ethereum mainnet that they should be a no-brainer to use for … Read more
What Coinbase isn’t telling you about Base
Why is Coinbase avoiding answering any questions about whether or not Base will be a KYC-only L2?
tBTC – Decentralized Enough?
This report aims to determine whether tBTC, which promotes itself as non-custodial and decentralized, is able to serve as a stronger alternative to the regulatory-friendly yet un-blacklistable WBTC.
Centralization Threat to MakerDAO and DAI by Coinbase and Gemini
As you know, I am closely following the ongoing centralization & capture of MakerDAO and DAI. The entire project is spiraling into a centralized disaster … Read more
Wrapped Bitcoin (WBTC)
Many have assumed that I am wholly and entirely against the existence of wrapped assets like WBTC. I am not.
It’s clear that wrapped assets on Ethereum have a strong use case for many. However, no two wrapped assets are alike. Most people don’t take the time to understand the nuances of each, and are therefore unable to develop an appropriate risk framework based on those nuances.
Uniswap
The Uniswap protocol is believed by many to be a model of true decentralization in DeFi. Technically speaking, Uniswap versions 1-3 do deserve this accolade. However, Uniswap’s behavior as a company over the past 2 years raises concerns that absolutely need to be taken into consideration despite its technical benefits.
Liquity (LUSD)
LUSD is an inspiration for what DeFi should look like, but use it with an understanding of its one weakness – its Chainlink oracle.
MakerDAO (DAI)
Consider avoiding MakerDAO and DAI until you fully understand the existential risks presented by regulated 3rd parties.