View source for Karak (Fka) Risk Harbor

==Basics==

*[[Mainnet]] release: [https://www.coindesk.com/defi-insurance-upstart-risk-harbor-goes-live-with-3-25m-in-seed-funding 24-6-2021]
*[https://ethhub.substack.com/p/ethhub-weekly-172?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozODExNzkxOCwiXyI6IitrN3VtIiwiaWF0IjoxNjI1MjAxMDc0LCJleHAiOjE2MjUyMDQ2NzQsImlzcyI6InB1Yi0zOTEwIiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.6wd6fT-yzuOTKzsiIkVrkmFL61HXqneGMFiD From] [[EthHub]] (29-6-2021):

''"Risk [[Harbor]] operates as a two-sided marketplace in which [[Decentralized Finance (DeFi)|DeFi]] depositors are able to purchase protection for their capital in [[DeFi]] projects, while others are able to underwrite that protection in return for premiums."''

==History==

* Risk Harbor relaunched as Karak Network. [https://www.onchaintimes.com/p/the-modular-watchlist-for-2024-a From] [[ONCHAIN|Onchain]] Times (12-3-2024):

''"A “risk management [[Layer Two|Layer 2]] [[blockchain]] supercharging restaking, AI, and a new generation of secure applications“. Karak powers ‘rollaps’ via their modular security, high customization and built-in machine learning tools. Karak recently announced a $48m Series A round from Lightspeed, [[Pantera Capital|Pantera]] and more. [https://karak.network/ Read more]"''
==Audits & Exploits==

*[[Bug bounty]] program can be found [insert here].

===Bugs/Exploits===
Got into a controversy around allegedly [https://twitter.com/RayRaspberry1/status/1777930475899875460 stealing] underwriting contract funds after adding new code in [https://twitter.com/RayRaspberry1/status/1780329312832643564 post-audit] (20-4-2024). According to people in the [[Rekt]] channel:

''"Risk harbor that stole 7M from [[Terra Classic (LUNC)|Terra Classic]] underwriting [[Smart Contract (SC)|contracts]] had a 48M seed round (featuring [[Pantera Capital]], [[Coinbase (COIN)|Coinbase]], and others) and relaunched as Karak Network and now claims the money they took was from a 1B grant they received from [[Do Kwon]] 😂''

''the auditor of their underwriting contracts came out this week and said the function they used to backdoor withdraw the money "AllowList" was not in the code they received and audited.'' 

''their CSO chimed in and said the funds they took weren't "user funds" so no problems.''

''Amazing when you can request a $5 withdrawal from an underwriting contract and receive 200M that someone else deposited."''

==Technology==

===Implementations===

*Built on: [[Terra Classic (LUNC)|Terra Classic]]

===How it works===
===Upgrades===

* KUDA, Karak Universal Data Availability went [https://x.com/KUDA_Network/status/1852538253070712834 live] on testnet (2-11-2024).
*[https://twitter.com/riskharbor/status/1541857477771243522 Announced] V2 with 4 new vaults (28-6-2022).
==Their Other Projects==

=== KUDA ===
Karak Universal Data Availability went [https://x.com/KUDA_Network/status/1852538253070712834 live] on testnet (2-11-2024).

=== Ozone ===

* [[Terra (LUNA)|Terra]] announced ([https://www.readthegeneralist.com/briefing/terra#toc-terra-forming-2 11-2021]) that [[Ozone (OZ)|Ozone]] would be managed by Risk Harbor.
==Pros and Cons==
===Pros===
===Cons===

==Team, Funding, Partners==
===Team===

*Full team can be found [here].

===Funding===

* Risk Harbor relaunched as Karak Network. [https://www.onchaintimes.com/p/the-modular-watchlist-for-2024-a From] [[ONCHAIN|Onchain]] Times (12-3-2024):

''"A “risk management [[Layer Two|Layer 2]] [[blockchain]] supercharging restaking, AI, and a new generation of secure applications“. Karak powers ‘rollaps’ via their modular security, high customization and built-in machine learning tools. Karak recently announced a $48m Series A round from [[Lightspeed Ventures|Lightspeed]], [[Pantera Capital|Pantera]] and more. [https://karak.network/ Read more]"''
* Had a $3.25 million [[seed]] round [https://www.coindesk.com/defi-insurance-upstart-risk-harbor-goes-live-with-3-25m-in-seed-funding co-led] by [[Framework Ventures]] and [[Pantera Capital]] (24-6-2021).

===Partners===
==(:==
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