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DeFi Evolution: Upgrades & Risks
Description
Andre Cronje from Flying Tulip challenges the DeFi landscape, claiming many protocols have shifted from immutable smart contracts to upgradeable setups managed by for-profit teams. This shift introduces new security risks, as recent exploits like the rsETH mess demonstrate. Builders are divided on solutions, with some advocating for designs that eliminate human failure points and others supporting circuit breakers. Standard Chartered views these incidents as growing pains, as the DeFi space continues to evolve and harden.
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