SafeDollar ‘stablecoin’ drops to $0 following DeFi exploit on Polygon

There is no such thing as a stablecoin, it's a made up term to try to lend legitimacy to new crypto scams. And I say this as someone who just bought some Ethereum in the hopes of making a profit :)

Re: SafeDollar ‘stablecoin’ drops to $0 following DeFi exploit on Polygon

#6

Post by jandrese » Mon, Jun 28, 2021, 5:58 PM UTC

Applejinx wrote: post #2

Zero counts as stable. Nothing further is ever going to happen to that price, I'll bet :)

   [Mr. Burns looks through a portfolio of his old stocks]

    Mr. Burns:

    Hmm, let's see..."Confederated Slave holdings." How's that one holding up?

    Blue Haired Lawyer:

    It's, uh, steady.

Re: SafeDollar ‘stablecoin’ drops to $0 following DeFi exploit on Polygon

#7

Post by Tade0 » Mon, Jun 28, 2021, 5:59 PM UTC

Pardon the pop culture reference, but did the attack happen to change its value from one of itself to zero of itself and was performed by a bitter, but highly intelligent man in his 70s?

Re: SafeDollar ‘stablecoin’ drops to $0 following DeFi exploit on Polygon

#8

Post by lalaland1125 » Mon, Jun 28, 2021, 5:59 PM UTC

These incidents really illustrate the main flaw of smart contracts: a single bug in your code can lead to incredible losses.

I simply don't think it's possible for human beings to write good enough software for smart contracts.

Re: SafeDollar ‘stablecoin’ drops to $0 following DeFi exploit on Polygon

#9

Post by hexo » Mon, Jun 28, 2021, 6:00 PM UTC

Such stable, much wow. Doge approves!

Re: SafeDollar ‘stablecoin’ drops to $0 following DeFi exploit on Polygon

#10

Post by fasteddie31003 » Mon, Jun 28, 2021, 6:01 PM UTC

lalaland1125 wrote: post #8

These incidents really illustrate the main flaw of smart contracts: a single bug in your code can lead to incredible losses. I simply don't think it's possible for human beings to write good enough software for smart contracts.

How is that different from a traditional contract written by a lawyer? A single word could leave a huge unexpected hole in a traditional contract.