[1/11] "Token Allowances" sind integraler Bestandteil einer jeden #DeFi Applikation (Swap/#DEX), da mit der erteilten Freigabe, in deinem Namen Coins & Tokens, bis zu einer bestimmten Obergrenze hin, ausgegeben werden können.
[2/11] Zuallererst muss man verstehen, dass eine "Allowance" keine Private-Keys klaut.
Vergleichbar mit einer Vollmacht (Allowance), ermächtigt (Approve TX) eine Person (Wallet) eine dApp als Bevollmächtigter (SmartC.) wirksam zu handeln & erhält dafür die Vertretungsmacht
[3/11] Eine Eigenschaft dieser Vertretungsmacht ist es im Namen des Wallet-Inhabers die vollständige Kontrolle der "approve(ten)" #Tokens zu übernehmen, um diese im Sinne des Smart Contracts zu #swapen/#traden, zu #staken oder zu #delegieren.
⚠️ Klingt gefährlich? Ist es auch 😅
[4/11] Grundsätzlich werden die "Approves" meist mit der Obergrenze "Unlimited" signiert. Erteile ich dem SmartC. nun die #Allowance eine unlimit. Anzahl von $WSGB zu verwalten, möchte aber eig. nur 1000 $WSGB in den SmartC. legen, könnte ein Exploit die $WSGB vollst. leer räumen
[5/11] Dazu kommt, dass die #Allowance nicht auto. "#revoked" wird & im Hintergrund ein "vergessenes" Sicherheitsrisiko darstellen kann, wenn diese nicht limitiert o. besser gleich ganz widerrufen wird.
Die einzige Abhilfe für $SGB war es sonst, die Wallet gleich ganz aufzugeben
[6/11] Eine dieser "aufgegebenen #Wallets" werde ich nun mithilfe von @ftso_eu wiederbeleben ❤️🥳
Dabei handelt es sich um eine Allowance für einen SmartC. im @flrfinance Ökosystem, welcher "theoretisch" in der Lage wäre meine $CAND Tokens, im Falle eines Exploits, zu stehlen.
The TL;DR is that pDomains are restricted environments on the XRPL that let users with permission use certain functions within the domain, like a DEX, in case the user owns the correct credentials. 🧐
[1/🧵] The bullrun seems to be just around the corner, and everyone is teasing us with yield and XRPFi protocols. 🧐
Regardless of whether you decide to hold or sell...
Let's take a look at "Lending" and check if it's worth it. 👇
[2/14] — 1⃣ Money Markets —
Before we do just that, let's quickly clarify a specific word first.
Behind the terms "Lending" and "Borrowing" actually hides another term that you will see from time to time:
🔸 Money Markets
[3/14] — 2⃣ Money Markets —
Besides AMMs, lending is currently the most important pillar for on-chain DeFi, as it removes the middleman in the pooling, management, and lending of funds.
The goal? 🤨
Positive yield or in other words, interest on the liquidity you provide.
[1/🧵] A MASSIVE attack on the JavaScript ecosystem is currently underway. ☹️
Since JavaScript is at the heart of what we use every day to browse the internet, you MUST be extra vigilant.
Let's take a look at a possible solution for the XRP ecosystem. 👇🧵
[2/13] — 1⃣ First things first —
Although the entire JavaScript ecosystem is at risk, the malware appears to be targeting only a few blockchain ecosystems, based on the addresses it uses to steal funds:
‼️ At risk 👇
[3/13] — 2⃣ First things first —
The reason this is such a big deal is because of the sheer volume of weekly downloads of the maliciously patched packages.
[1/🧵] You've probably heard about new yield opportunities with XRP that promise a return of around 20% APY. 🧐
How much truth is there to this, and what happens if you actually connect to @moremarketsxyz and deposit funds? 👇
[2/14] — 1⃣ First things first —
👉 I want you to repeat after me:
"I will not deposit all my XRP into completely new DeFi protocols right after their launch, no matter the yield"
[3/14] — 2⃣ First things first —
When you join any DeFi protocol, start with very small amounts (e.g., 1 XRP) to get a feel for how things work, and try to regularly withdraw everything to test whether you can realize your profits with the protocol or not. 👍
[1/🧵] What's still upcoming and in the pipeline for the XRP Ledger? 🧐
My attempt to summarize what the brilliant @aanchalmalhotre "casually" laid out in a 25-minute talk at XRPL Apex this year. 👇
[2/15] — 1⃣ Key-Challenges —
Privacy and compliance are at odds with each other, and balance is key.
A lot of what the TradFi world is used to and expects still doesn't exist or is purposefully different in blockchains, like transparent transactions or low confidentiality.
[3/15] — 2⃣ Key-Challenges —
Institutions also expect their on-chain operations, aka transactions, to be highly customizable and controllable because of factors like internal risk management.
👉 They expect the XRPL to be programmable for their dedicated policies.