11. Leveraging this, I embedded code in my contract to approve type(uint256).max to my wallet address. When executed, the front run bot mimics this, ultimately allowing me to withdraw all the WETH in the FrontrunBot contract
Sharing my writeup on 'Hide On Bush,' 2023 Blaze CTF Challenge. The objective was to deceive a FrontRunBot targeting user funds and to steal the Bot’s funds. Check out the thread for more details 🙂
Thank you for creating a fun problem @tonyke_bot
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ffffine, let me walk you across the street. ...i know the stablecoin withdrawal is weird my comment is playfully pretending to be on Dani's side and to nudge him to acknowledge his shady behavior while "sleeping"
That may sound like a lot of word vomit, but this is due to character constraints.
I am willing to defend any of these points or repeat any aspect in a more intelligible manner, at your request.
I do not intend to make matters convoluted.
Stable price is stable irrespective of any such schemes as doing so requires the introduction of new supply, which requires minting, which requires either more reserves or liquidity (which requires supply as an input).
Stable does not imply static — the price is dynamic.
Cool, but what i am wondering is:
If the price floor is stable and known, what stops people from exploiting the support line by setting orders @ and below it until the reserve is drained?
The differences are (1) valuation and (2) coverage, s.t (1) value is derived from liquid reserves (ø all) and (2) total (ø circulating) supply is covered.
1. Using liquid reserves enables frictionless buybacks; and
2. Total supply coverage results in an realizable price floor.
All good, but tell me, how is this any different from any other DAO implementing backing and buybacks ? Nobody cares if the equation is cleaner, that’s nerd stuff. Do you have a bot acting upon the maths you provided keeping the floor always stable?