I think its extremely important to highlight these hacks on lending protocols and why its imperative to implement risk management to the protocol. I’m probably irresponsibly long on Radiant so I only want to highlight this as a precaution. It appears that this was done, like many lending protocol hacks prior, on a low liquidity manipulative asset. I believe 0vix wasn’t using chainlink feeds either which I read could be another reason. If anyone has any insights, please share. It is comforting knowing that currently Radiant only deals in blue-chip assets that would require massive amounts of capital to manipulate, but I cringe for smaller cap supply or borrow assets. My hope is the DAO takes Aave’s approach with new supply and borrow assets.
Agreed, too much hacks… probably insider job. We as DAO member needs to be cautious in voting on new asset for collaterals. Let all active members be vigilant in this.
1 Like
Thank you for your vigilance! It’s great to have such smart people in our community. We need to be careful with these lending protocols and implement proper risk management. Radiant is doing a great job by only dealing with blue-chip assets. Let’s hope the DAO follows Aave’s approach for new assets.