I have a very idiotic mechanism, which would prevent multi-million dollar defi hacks on any protocol from ever happening again: simply impose size caps on transactions. We could just make it so in any one transaction, any trader can trade at most, say, $500k. If you want to trade more, just do multiple transactions. Also, we could build in some kind of kill-switch so that devs can turn off the protocol at will (perhaps, say, only if a sufficient dollar volume of withdrawals happen in some time).
Transaction size caps for defi protocols
Transaction size caps for defi protocols
Transaction size caps for defi protocols
I have a very idiotic mechanism, which would prevent multi-million dollar defi hacks on any protocol from ever happening again: simply impose size caps on transactions. We could just make it so in any one transaction, any trader can trade at most, say, $500k. If you want to trade more, just do multiple transactions. Also, we could build in some kind of kill-switch so that devs can turn off the protocol at will (perhaps, say, only if a sufficient dollar volume of withdrawals happen in some time).