The exchange halted withdrawals; the protocols kept running
The 2020 bet — write down what an exchange does as a program — was settled two years later by an exchange collapse.
Watch it happen in “DeFi Summer” →Why it happened
- 01交易和借贷被改写为无需托管的协议，用户始终掌握私钥。
- 02链上美元由超额抵押生成，不依赖任何一家机构的偿付能力。
- 03协议的运行不需要人为干预，也没有可以「暂停提现」的开关。
Before · After
Before
The main way to use crypto assets was to hand them to a company for safekeeping.
After
A path existed where the private key never leaves your hands, and it did not break during the same collapse.
Why it matters
It confirmed how the non-custodial path behaves under stress, and left the other half of the question standing: a program will not run off with your money, but a program can be written wrong.
Related entities
Sources
- Level AFTX Trading Ltd. 破产申请
Unverified · Case No. 22-11068 (JTD)。经 PACER 或法院重整信息网站检索原始文件。
- Level AUniswap 协议文档
Unverified · 官方文档站的协议说明与合约地址；v1 上线时间见其博客归档。