@0xdavide

🥷I don't want to argue whether it's right or wrong to fork a chain due to exploits/hacks (very often, opinions vary depending on whether you're personally involved or not), but it's a fact that almost all layer1 and layer2 are highly centralized. The "funny" thing about Flow's exploit is that while the native $FLOW token immediately collapsed (-40%), their stablecoin $USDF (which is a bridge version of $PYUSD, the stablecoin issued by PayPal) depegged upward, recording new ATH (above $2), clearly due to FLOW/USDF swaps. USDC.e also lost its peg to the dollar on-chain (with peaks as high as $6). TikTok gurus who predicted $XRP at $1000, $ADA at $50 and $USDC at $5 were right about $USDC at least!😆 Meanwhile, on some Dex, $FLOW dropped below $0.01, creating enormous arbitrage opportunities compared to the price on Cex ($0.08-0.10$). The stolen funds were bridged via Stargate and Celer.

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