artlu's Bear Blog

Decentralization Feedback Sandwich

Good: eth.limo got hacked, but it seems it was the fault of the only centralized part of the internet stack and they owned up admirably1

Bad: rsETH got hacked via LayerZero and KelpDAO, impacting AAVE v3 among many others. It was fair to expect ex-ante that the projects involved are built with explicit goals2 of making this sort of hack impossible

Good: although it was more difficult than expected3, I was able to create a Farcaster account 100% permissionlessly, without any privacy compromises such as providing a phone number, email, or logging into services without wearing a condom using a VPN

Useful Resources:

N.B. when creating your custody address, create the mnemonic first so you can log into clients. To avoid gas funding pain, I used an existing wallet to create the Farcaster account, then transferred the custody address to a freshly created wallet5



  1. DYOR this is slightly more complicated than it appears. See also https://x.com/coinspect/status/2045614188307927261 for nuance

  2. and aspirational promises to users!

  3. The Base App, Zapper and Firefly had previously rolled out cheap, easy and user-friendly clicky methods for anyone to do this. Base has pivoted away. Unfortunately, neither Zapper nor Firefly worked today, each giving generic server-side errors representing that something has broken in their backends without triggering P0 issues. Cassie said that Quorum will include an onboarding flow

  4. afaict I never used this, but it's good to know it exists

  5. it feels safer to share the mnemonic with closed-source clients, when the (freshly created) mnemonic doesn't protect any funds. This is a useful, albeit brain-damage-y, method of compartmentalization opsec