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Main Channel t.me/blockchain_lobsters
4 days for registration to airdrop 😂
https://x.com/SunriseLayer/status/1943415166240223587
It's just a clever way of allocating more for the team
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If is really true end of the day, that’s pretty criminal lol :/
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https://x.com/Crypto_Pranjal/status/1927132674864353454?t=ylP2yP-qXRP0KhtKDCQGQQ&s=19
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https://x.com/CalderaFDN/status/1943368351322943812?t=athY_IiSJJ36SDC_kwsEsQ&s=19
Bruh how is this not a scam
7 day window to preclaim
Almost as bad as the Lagrange 3 day window
https://x.com/ethena_labs/status/1943304366326452472
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insane
i wonder if there is any logic at all justifying this by circle?
Except that now exploiters are considering Circle's own bridges as their preferred path for moving exploited funds.
Just let that sink in, other may try to delay or stop things even if in the end they may not fully stop; Circle will happily move the funds even if everyone under the sun comes and begs for time.
So you have I can't do much but let me do what I can to help vs. circle i can something but I choose to do anything.
Hope it all works out. Was a big fan of V1 and continued using it mostly due to familiarity. Wild to see the bug in this after so many years of reliability
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Sup fam, anybody got in Plasma?
https://x.com/plasmafdn/status/1943327643065008625?s=46&t=iK2G3kn_rxmVVWP_G9Faeg
If so, what’s your expectations?
in theory a malicious sequencer could assign themselves a huge eth balance, bridge it out on stargate and dump on mainnet?
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what do u think is fishy about it
someone is fronting the risk and giving you liquidity now
see e.g. in the blast hack, bridge providers do turn off their instant bridge if the risk is too high
You can roll back the hack only if it would have violated the consensus rules. But it didn’t, it was a perfectly valid transaction according to the rules.
What does seem phishy with all those optimistic rollups is that nobody takes the fraud challenge seriously. Canonical bridges take 7 days to withdraw, but there are lots of instant third party bridges with good liquidity, so nobody uses the canonical
Probably supply control crime then (i am speculating, nothing against the project itself, but what the fack)
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Need to name and shame these
It's not a distro mechanism if it's designed to be unclaimable
I've heard they feel that if they freeze funds then they're liable etc.
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like we also want hackers to be comfortable with usdc vs other stables as black activity is a fair share of the market??
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This why Tether is better than Circle they have frozen hacked Tether before?
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Was listening to this podcast, I may have misunderstood, but they seemed to be implying that finality only occurs on the close of the 7d window and in trading thats too late. I thought thats bullshit but I couldn’t frame an argument as too why it was wrong. Like one of those I understood it at the time, but now I can’t explain it so maybe I didn’t understand. Anyway here’s the link this is what we are facing in this industry. https://www.youtube.com/watch?v=01ZbwrqP5m4
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fraud proof matters for "trustless" processes where an entity that isnt you needs to perform a state transition that "moves funds out of the chains ledger"
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it will verify that state transition that sequencer received was legit
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it's a good read. The last point in the article is where my head is - in that, if Circle (or any other issuer) honors native withdrawals on a particular fork, that fork is the one to have the most economic value
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(re: stablecoins https://docs.google.com/document/d/11cC4ZlWxp0PheWjhCtClc6MqvTLoTfJ7HuUDE0ete64/edit?tab=t.cp41qfbyg5q0)
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And that there wasn't really fraud in the sense of breaking the rules of the chain, everything proceeded according to how it's "supposed to work"
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