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DeFi’s Greatest Comeback. Hack, Recovery, Rebuild with Michael Bentley, Eulerlabs | DeFi Podcast #73
Defi Podcast
1 hour 6 minutes 43 seconds
2 months ago
DeFi’s Greatest Comeback. Hack, Recovery, Rebuild with Michael Bentley, Eulerlabs | DeFi Podcast #73
In this powerful episode of the DeFi Podcast, hosts Bill, JF, and Rhett sit down with Michael Bentley, CEO and Co-founder of Euler Labs, for one of the most remarkable comeback stories in crypto history.Michael shares the deeply personal account of managing Euler's $200 million hack in March 2023 - just days after his son's birth. From negotiating with the hacker whilst in A&E to the psychological warfare that followed, this is an unprecedented look inside one of DeFi's most challenging recoveries.But this isn't just a story of crisis management. Michael reveals how Euler V2 has revolutionised DeFi with its modular lending architecture and groundbreaking EulerSwap protocol, which achieves unprecedented capital efficiency by merging lending and DEX functionality.Key Topics:- Euler's $200 million hack- Psychological warfare with the hacker- Keeping the team together through crisis- Modular lending protocol architecture- EulerSwap's revolutionary capital efficiency- $2B volume with under $5M TVL- Autonomous buyback mechanisms- Fixed-rate lending comebackChapters:00:00 The Oiler Finance Hack: A $200 Million Heist01:03 Michael Bentley's Leadership and Recovery02:15 The Birth and Challenges of Oiler Version One08:37 The Hack: A Personal and Professional Crisis30:50 Exploring Oiler's Unique Collateral System35:27 Challenges and Early Growth of Oiler39:36 Oiler Swap: Revolutionizing Capital Efficiency01:00:42 Future Innovations and Institutional FocusFollow the Pod: @DefiPodcastFollow the Guest: @euler_labsFollow the Hosts: @Bill_Tanyeri @JFSaine @RhettShippDisclaimer: Nothing discussed constitutes financial advice. Please consult a professional investment advisor and do your own research.