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Ministry of Agriculture @MinistryOfAg

DeFi is new and exciting and messy. The Ministry of Agriculture demystifies decentralized finance. We have conflicts of interest. Not investment advice.

Joined July 2020
  • Tweets 9
  • Following 37
  • Followers 259
Photos and videos
Stablecoin risk in DeFi: a comparison of $USDT, $DAI, and $USDC. 1. @centre_io is the easiest to create/redeem 2. @tether has its faults but is super liquid 3. @MakerDAO is really cool--but DAI is brittle, and that's scary medium.com/@ministry_of_agri…

A Little Unsteady

I think it would be fair to say that, over the course of crypto, three classes of coins have served as the backbone of the industry: BTC…

medium.com
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Many are scared of $USDT and trust $DAI because $DAI works as advertised and sometimes $USDT doesn't. But before you judge, think about how risky the advertised product is.
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$DAI is really cool! But it's not safe in huge size. $USDT can be awkward but it's super liquid, and when push comes to shove it can be turned into roughly $1. And when considering downside risk, that's most of what matters.
Ministry of Agriculture@MinistryOfAg
2 Jul 2020
On the @BalancerLabs attack: Not existential or fatal, but lots of work to make the platform more intuitive. medium.com/@ministry_of_agri…

TL;DR

On 2020-06-28, a group of users on Balancer lost around $500k to an attack on a pool split between WETH and STA.

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