Understanding The Risky Business of DeFi’s Risk Curators

Last week we got a severe reality check in DeFi, thanks to the xUSD depeg exposing a $93M loss, followed by a total collapse of $600M in USDX, another $135M in Elixir deUSD, plus more value destruction in related permissionless lending markets such as Morpho and Euler. The contagion among these related stablecoin yield protocols, exposed how fragile onchain systems can be when one underlying asset fails.

Having worked with some of the largest DAOs in the space for years such as Gnosis, we invited our friends from kpk, Head of Growth (Ruca) and Head of Risk Curation (Giel), to unpack the reality of being a risk curator tasked in these volatile permissionless markets.

In a new episode of The Edge Podcast, we explore what it really means to curate risk in DeFi, how lending markets can balance safety with yield, and how risk curation has become both an essential service and a risky business of its own.

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