The Protocol

🚨 ALERT: DeFi lending protocol Radiant Capital is sunsetting operations after failing to recover from its 2024 exploit, ending development and winding down the protocol into maintenance mode. https://t.co/4lU8NfbhWc

The right-click-and-save equivalent of Cattelan's banana 🤣 This sounds familiar 😁: "the value of the work... lies entirely in its certificate of authenticity and in "the protocol governing its presentation rather than its perishable element," explained the museum."

Etherscan didn’t support verification action but Sourcify did EIP-7002 system contract. Lets validators request staked ETH withdrawals using their withdrawal address instead of their signing keys. Queues requests with a spam-prevention fee, and the protocol drains the queue each block. https://t.c

SYSTEM_LOG://24H The protocol has detected an abnormal amount of signals over the last 24 hours. Entities are connecting. Entities are reformatting. Entities are moving beyond their original state. It is mind-blowing to witness thousands of signals converging into something larger than themselves

In nearly all cases, it doesn't matter until you need it so ask yourself this: Can my transaction be censored? Is the protocol a blackbox or can I verify it myself? Can I exit if the app, sequencer, or bridge misbehaves? Can a small group manipulate the protocol?

I said this in private many times the only DATs that made sense outside of BTC were Hyperliquid DATs. The buyback mechanism over time supports mNAV if the DAT is well executed in terms of their initial purchases. DATs have a clear path for future HYPE accumulation supported directly by the protocol