Karak (Fka) Risk Harbor

From CryptoWiki

(Redirected from Risk Harbor)

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

  • 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

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

How it works

Upgrades

Their Other Projects

Ozone

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"

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.

ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31