Difference between revisions of "Karak (Fka) Risk Harbor"
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==Basics== | ==Basics== | ||
*[[Mainnet]] release: [https://www.coindesk.com/defi-insurance-upstart-risk-harbor-goes-live-with-3-25m-in-seed-funding 24-6-2021] | *[[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): | *[https://ethhub.substack.com/p/ethhub-weekly-172?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjozODExNzkxOCwiXyI6IitrN3VtIiwiaWF0IjoxNjI1MjAxMDc0LCJleHAiOjE2MjUyMDQ2NzQsImlzcyI6InB1Yi0zOTEwIiwic3ViIjoicG9zdC1yZWFjdGlvbiJ9.6wd6fT-yzuOTKzsiIkVrkmFL61HXqneGMFiD From] [[EthHub]] (29-6-2021): | ||
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==History== | ==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== | ==Audits & Exploits== | ||
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===Bugs/Exploits=== | ===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=== | ===How it works=== | ||
===Upgrades=== | ===Upgrades=== | ||
* [https://twitter.com/riskharbor/status/1541857477771243522 Announced] V2 with 4 new vaults (28-6-2022). | * [https://twitter.com/riskharbor/status/1541857477771243522 Announced] V2 with 4 new vaults (28-6-2022). | ||
==Their Other Projects== | ==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. | * [[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 and Cons== | ||
===Pros=== | ===Pros=== | ||
===Cons=== | ===Cons=== | ||
==Team, Funding, Partners== | ==Team, Funding, Partners== | ||
===Team=== | ===Team=== | ||
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===Funding=== | ===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). | * 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). | ||
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Making these free wiki pages is fun but takes a lot of effort and time. | Making these free wiki pages is fun but takes a lot of effort and time. | ||
If you have enjoyed reading, tips are appreciated :) This will help us to | If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information. | ||
[[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31 | [[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31 | ||
Latest revision as of 00:37, 22 April 2024
Basics
"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
"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
Pros and Cons
Pros
Cons
Team, Funding, Partners
Team
- Full team can be found [here].
Funding
"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
(:
Knowledge empowers all and will help us get closer to the decentralised world we all want to live in!
Making these free wiki pages is fun but takes a lot of effort and time.
If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.
