Quote from: satscraper on Today at 03:40:42 PM

Another one bites the dust. This time GMX which was failed to withstand hackers. On 9th of July they managed to breach exchange security system and steal $42M.

Yet again from GM , earlier this year there was an actually an exploit on abracadabra.money, another DeFi protocol integrated with GMX, and the lost amount was around $13M. This is yet again another warning that all this bridging and swapping protocols are simply not safe most especially since they usually requires ownership been added over to the platform. So as long as there is no decentralized system where you have full ownership of your assets, hackers will continue to exploits smart contracts.

In full context avoid wrapped coins too

Quote from: Charles-Tim on Today at 04:50:07 PM

For derivative trading, I do not think there can be a decentralized exchange for it. Those that called themselves decentralized like this one are not actually decentralized but centralized.

It will be hard to have decentralized derivative trading because of liquidity, the derivatives trading requires more liquidity on the platform or for the exchange to actual lock up some liquidity as collateral. A full scale derivative wouldn’t be able to achieve this because of the this done by centralized exchanges are simply just with users funds on left on the platform.