The Kelp rsETH exploit drained nearly $292M from Aave. A simple rule or circuit breaker to stop $50M in inflows over an hour, might have stopped it, or at least limited the damage done. That kind of protocol-based rule is exactly what Phylax built.
The Founder of Phylax, Odysseus, and Head of Linea at Consensys, Declan Fox, joined us on a new Edge Podcast to walk through how Phylax's DeFi circuit breaker works in practice: a sidecar running on the Linea sequencer that checks every transaction against protocol-defined policies before it hits a block. Already live on Linea, Phylax has stopped 4,000+ drain attempts and protected $1.5M in cumulative drain volume, including a real attack on 0x where users were being drained through an immutable contract that no patch could fix.
They also cover what institutions are still waiting for before coming onchain and how programmatic rules enforced by Phylax could offer more confidence to deploy their capital onchain.
DeFi's security layer is improving this bear market, despite what you read in the crypto Twitter headlines. Listen to the latest episode of The Edge Podcast for more details below on Phylax!
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🔗 Guest Links 🔗
► Phylax website: phylax.systems
► Phylax Systems on X: x.com/phylaxsystems
► Odysseus on X: x.com/odysseas_eth
► Linea website: linea.build
► Linea on X: x.com/lineabuild
► Declan Fox on X: x.com/DeclanFox14
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DISCLAIMER: Nothing said on The Edge Podcast is a recommendation to buy or sell tokens or securities. This content is for educational and entertainment purposes only. Nothing shared here is financial advice. Any views expressed by hosts or guests on the show are solely their opinions. Always do your own research. DeFi Dad, Nomatic, and guests may have positions in the assets or other matters discussed in this podcast. DeFi Dad and Nomatic hold ETH.
