It does feel like the kind of one-to punch of reminding people that nothing in crypto is risk-free, right? We've kind of gotten a little bit fast and loose with the idea of like, oh, it's like the quote-to-quote risk-free rate in crypto. It's like there's no risk-free rate in crypto because there's always risk. Not a dividend. It's a tale of two pawn. Now, your losses are on someone else's balance. Generally speaking, air drops are kind of pointless anyways. Unimmedged trading firms who are very involved. D5.E is the ultimate policy. DFI protocols are the antidote to this problem. Hello, everybody. Welcome to the shopping block. Every couple weeks before of us get together and give the industry insider's perspective on the current topics of the day. So quick intro is first you got Tom, the DFI Maven and Master of Memes. Hello, everyone. Next we got Robert, the Cryptoconucer, and Tsar of Super State. Good evening. Next to you got Tarun, the Gigabrain, and Grand Puba and Gauntlet. Yo. And I am the C of the Head Hype Man at Dragonfly. We're early-station investment crypto, but I want to caveat that nothing we say here is investment advice, legal advice, or even life advice. Please see chopping block. That XYZ for more disclosures. So, boys, the people are hurting. It is a really rough market out there. It's been a few days in a row of just complete carnage in the markets. and Tarun, you were telling us that you hate doing these kinds of shows. Why do you hate doing these kinds of shows? The people need to hear from you, Tarun. Why do you not want to bring them your love and your energy? This is the show where Tarun is the expert on everything that's gone. The people most need to hear from us. I think I wish it was like recorded tomorrow, not today.

Why? Why? What's happening today? I need the one day of a little less craziness.

Give us, okay, give us just a sense of like what your day, because today we're recording this on

Tuesday. Tuesday, massive market wipe out. So I have to imagine there's a lot of stuff going on for you at Gauntlet.

Give us a sense of like, what has today been like for you?

Well, I think a lot of it was just the market kind of repricing risk very quickly

when they realized certain things were like less solid than they thought.

I think the main, you know, I think we're going to talk about

both the balancer exploit and the stream finance exploit. And the interesting thing is they

both had the same impact on user's liquidity, but like for very opposite reasons. And I think

the, the balancer one was like it kind of shattered people's long-term beliefs

and the stream one shattered people's short-term beliefs, but they both kind of had the same

outcome.

I won't front run before you explain all of this, But I think the thing is they compounded, right?

It's like people's near-term optimism and their long-term optimism both broke in a span of two days.

That's like kind of how I would say that.

And that just means people were pulling money from the market aggressively.

Now, I think the other thing is like, if you think about 2022, Luna was like April, May, three, three arrows was like around like a few weeks after at Celsius, like a month after or whatever. And then FTX was like three or four months after. Domino's. So there's kind of, yeah, I might be a slightly, sorry, it's a long day, but like something like that, right?

So there's a gap.

And of course, you know, a little under a month ago was the the big liquidation day.

And I think this is the repercussions of that.

Yeah, it was just the repercussions of that in some sense.

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