Sturdy Finance Hack
SummaryOn June 12, 2023, Sturdy Finance was hacked on Ethereum Mainnet. The hackers were able to exploit a vulnerability in the protocol’s borrowing pool, which allowed them to steal around $800K worth of ETH.About ProjectSturdy Finance is a decentralized finance (DeFi) protocol that allows users to borrow and lend assets without paying interest. Instead of charging borrowers interest, Sturdy stakes their collateral and passes the yield to lenders. This model changes the relationship between ...
Sturdy Finance Hack
SummaryOn June 12, 2023, Sturdy Finance was hacked on Ethereum Mainnet. The hackers were able to exploit a vulnerability in the protocol’s borrowing pool, which allowed them to steal around $800K worth of ETH.About ProjectSturdy Finance is a decentralized finance (DeFi) protocol that allows users to borrow and lend assets without paying interest. Instead of charging borrowers interest, Sturdy stakes their collateral and passes the yield to lenders. This model changes the relationship between ...
Tokenisation in Smart Contracts
Tokenisation in a smart contract is basically another representation of some quantity of our interest in the quantifiable way. The very common example of this is the representation of the liquidity provided by a LP in AAVE as aTokens. Instead of storing the number in the contract itself they tokenised it. Another common example is the tokenisation of governance in a protocol on the basis of the number of tokens every account have. The default case is non-tokenisation and hence representing th...
Tokenisation in Smart Contracts
Tokenisation in a smart contract is basically another representation of some quantity of our interest in the quantifiable way. The very common example of this is the representation of the liquidity provided by a LP in AAVE as aTokens. Instead of storing the number in the contract itself they tokenised it. Another common example is the tokenisation of governance in a protocol on the basis of the number of tokens every account have. The default case is non-tokenisation and hence representing th...
