Difference between revisions of "Karak (Fka) Risk Harbor"

Latest revision as of 00:37, 22 April 2024

Basics

Mainnet release: 24-6-2021
From EthHub (29-6-2021):

"Risk Harbor operates as a two-sided marketplace in which 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. From Onchain Times (12-3-2024):

"A “risk management 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 and more. Read more"

Audits & Exploits

Bug bounty program can be found [insert here].

Bugs/Exploits

Got into a controversy around allegedly stealing underwriting contract funds after adding new code in post-audit (20-4-2024). According to people in the Rekt channel:

"Risk harbor that stole 7M from Terra Classic underwriting contracts had a 48M seed round (featuring Pantera Capital, 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

How it works

Upgrades

Announced V2 with 4 new vaults (28-6-2022).

Their Other Projects

Ozone

Terra announced (11-2021) that 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. From Onchain Times (12-3-2024):

"A “risk management 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 and more. Read more"

Had a $3.25 million seed round co-led by Framework Ventures and Pantera Capital (24-6-2021).

Partners

(:

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ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31

@@ Line 1: / Line 1: @@
 ==Basics==
-*Based in:
-*Started in / Announced on:
-*[[Testnet]] release:
 *[[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."''
+''"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==
@@ Line 15: / Line 16: @@
 ===Bugs/Exploits===
-==Governance==
+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:
-===Admin Key===
-===DAO===
+''"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]] 😂''
-===Treasury===
-==Token==
+''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.''
-===Launch===
-===Token Allocation===
-===Utility===
-===Other Details===
-===Stablecoin===
-==Coin Distribution==
-==Technology==
-*[[Whitepaper]] can be found [insert here].
+''their CSO chimed in and said the funds they took weren't "user funds" so no problems.''
-*Code can be viewed [insert here].
-===Implementations===
+''Amazing when you can request a $5 withdrawal from an underwriting contract and receive 200M that someone else deposited."''
-*Built on:
+==Technology==
-*Programming language used:
-====Transaction Details====
+===Implementations===
-*Capacity ([[TPS]]):
+*Built on: [[Terra Classic (LUNC)|Terra Classic]]
-*[[Latency]]:
 ===How it works===
-===Fee Mechanism===
 ===Upgrades===
-===Mining===
-===Staking===
+* [https://twitter.com/riskharbor/status/1541857477771243522 Announced] V2 with 4 new vaults (28-6-2022).
-====Validator Stats====
-===Liquidity Mining===
-===Scaling===
-===Interoperability===
-===Other Details===
-==Privacy Method==
-==Compliance==
-==Oracle Method==
 ==Their Other Projects==
@@ Line 59: / Line 41: @@
 * [[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.
-==Roadmap==
-*Can be found [Insert link here].
-==Usage==
-===Projects that use or built on it===
-==Competition==
 ==Pros and Cons==
 ===Pros===
 ===Cons===
 ==Team, Funding, Partners==
 ===Team===
@@ Line 77: / Line 52: @@
 ===Funding===
-* 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).
+* 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===
@@ Line 88: / Line 66: @@
 [[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31
-Also check out [https://cointr.ee/zeb CoinTr.ee] for more content.