Founder at @arb_cap, creator of @wstgbp Turning non-usd stablecoins into productive on-chain assets. Prev @MakerDAO ๐น Prev @osc ๐งฎ Prev @OhioState ๐ พ๏ธ
Undisclosed.
Joined September 2008
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Non-USD stablecoins donโt need more issuance
They need reasons to be held and used onchain
Thatโs what weโre building at @arb_cap: rewards-bearing assets, liquidity, lending markets & DeFi integrations
@wstGBP is live and generating revenue
And GBP is just the beginning
๐ค Made with AI
Louder for the researchers in the back.
look the foundational problem with ethereum protocol design is that most of the people designing the protocol don't actually use ethereum themselves. you can't fix the right things if you don't use your own fucking product. you don't have enough skin in the game if you don't personally depend on the system you're designing & stand to lose money when it breaks. i understand, everything looks great from an ivory tower lol. things look very different when you're actually on the ground dealing with the consequences. if you don't use ethereum yourself but still think you're qualified to design its protocol, you're playing god with a system you don't have to live with and whose consequences you don't have to suffer.
Scanned my projects and discovered 13 repos affected by this. All are patched now but this is pretty widespread.
Foundry 1.7.1 popped as vulnerable so it's a good time to foundryup
๐จ Nightmare day for cybersecurity
Multiple major security incidents, active exploits, supply chain compromises...
If you run production systems, start patching NOW.
PHP: Two critical unauthenticated RCEs. Attackers already exploiting them. Patch NOW
LiteLLM: v1.107.0 on PyPI and Docker is BACKDOORED. Steals cloud, SSH, and AI credentials. Pin 1.106.2. Rotate secrets.
eMudhra: A certificate authority's keys were crackable. Update your browsers, systems, and trust stores.
Node.js / Next.js / React: Security releases for Brotli RCE, TLS bypasses, and TWO critical Next.js RCEs.
TiDB Cloud: PingCAP breached through stolen credentials. Customer information and other sensitive data exfiltrated. Read the attacker's release, fun stuff.
Plex2Shell: Weaponized within HOURS of the PoC. Attackers already deploying cryptominers and proxy backdoors.
BeyondTrust / Ivanti: Actively exploited zero-days added to CISA's KEV catalog. BeyondTrust attacks linked to a China-nexus campaign.
And that's not even the full list.
Patch. Audit. Rotate. NOW.
Thanks to yRisk for their report on wstGBP!
New asset report:
Wren Staked tGBP (@wstgbp) wraps BCP Technologiesโ sterling stablecoin, tGBP, on Ethereum with rewards income from tGBPโs offchain reserves...
Peg stability isn't just for USD stablecoins.
Our issuer partners benefit from increased distribution of their token as well as price stability on-chain.
Since the launch of @wstgbp liquidity pools on mainnet, Tokenized GBP has seen direct impacts on it's GBP peg.
New Yorkers are some of the most provincial people on the planet.
Capitals are antithetical to decentralization btw.
Brian McMichael ๐ retweeted
New episode of @ChronicleLabs Unwrapped Series featuring @SkyEcosystem on why oracles matter so much for risk management onchain. A point that stuck with me from Rune:
You can build great tech, but you can't prove people's intentions.. not the builders, not the operators, and history shows you can't separate the two. Early Maker (now Sky) builders are rare in truly appreciating that gravity and they operate knowing exactly what a mistake or shortcut would cost in financial risk and loss.
Oracles are the Achillesโ heel of DeFi.
@RuneKek @SkyEcosystem and @nomos_paradox @ChronicleLabs discuss on the latest Unwrapped why oracle infrastructure is a critical part of a protocolโs security.
I'm just going to say it. "Coding" was always my least favorite part of software engineering.
Software engineering was more interesting in the design aspect. Making it secure. Making it efficient. Making it intuitive. Making it scaleable. Making something people want to use.
None of the interesting parts of software engineering go away because the clankers can do the code monkeying.
Losing it to AI is like complaining that homebuilding is over because there's no need to hammer nails anymore.
The software daylaborers probably need to retool. AI can make an attractive facade, but there's still plenty of work to do once the frame is built.
