In 2022, crypto crime hit an all-time high. A staggering $3.8 billion in crypto was stolen, with DeFi protocols bearing the brunt of these thefts, accounting for 82% of the total losses. Amid this alarming scenario, has a beacon of hope emerged in ERC-7265? 
The proposal aims to create a 'circuit breaker' safety layer for DeFi contracts, potentially revolutionizing security measures in the crypto space. Could this be the key to bolstering security and paving the way for mass adoption of DeFi? Will it essentially centralize protocols? Tune in to find out.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Stitcher, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform.
Show highlights:

what ERC-7265 is meant to do and why they called it a 'circuit breaker’

how the idea would actually work on chain

how this ERC could make DeFi applications more centralized, rather than decentralized

what can be done to prevent small teams from seizing funds

how different teams will be able to design the circuit breaker as they want

what unsafe arbitrary calls and unprotected flows are

why Philippe believes that this proposal will help newer teams improve their security

how the ERC can pave the way for a more decentralized protocol 

what will it take for protocols to start adopting the new standard

Thank you to our sponsors! 

Crypto.com

Railgun DAO

Ondo Finance

Arbitrum Foundation

Guest

Philippe Dumonet, Cofounder of DeReg
Links

Chainalysis 2022 report


The Block: Ethereum community proposes new standard to mitigate DeFi hacks


Philippe’s thread on ERC-7265



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