what about like a panic button for account security
that lets users immediately hard-lock their account from all logins/changes/withdrawals on suspicion of unauthorized access until completely re-verified
@SBF_FTX@FTX_Official cuz like, I can freeze my debit card or bank account if compromised and those transactions can be reversed
I'd love to be able to freeze my trading accounts because those transactions cannot be reversed.
Having available via API endpoint would be nice also in case locked out
actually while I'm at it, somebody might also be able to build this for ETH wallets, in a way
like if you "accidentally" give your seed phrase away and start noticing the wallet getting drained
having an app/script to hook it to that'll automatically burn or reroute all ETH
although this can be bypassed using flashbots I think so idk maybe not terribly useful
UNLESS IT HAD FLASHBOTS INTEGRATION?
@bertcmiller is that possible/useful or am I way off here
@bertcmiller I seem to recall a story a few months ago about a reddit user who was getting drained
somebody either v familiar with or on the team from flashbots was able to institute an ETH burning script (although it required ownership permission) and later recovered most remaining contents
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there's a ton of stuff I didn't mention or talk about (might do a part 2 later) but this kinda gives a very elementary example of thinking from a MM's perspective
ok yeah I'm already writing the second article lol, which will be more focused on how to actually get started doing it
Need to explain crypto/defi terms to your grandma?
Here's a handy list of crypto-native terms with a 1-tweet ELI5 explainer for each.
Bookmark the thread and if you want something added, just ask!
1/n... oh God there's gonna be so many
Smart contract:
Think of it as a computer program that does one specific thing, and it's always running, just waiting for you to send some basic instructions.
dApp:
One or more smart contracts bundled together in the same place. They can be more complex than a single smart contract, but they usually have a user interface to help you send the right instructions to each smart contract