Ryan Sean Adams
speaker
4,484 appearances
13 recordings
1 series
first heard Jan 2026
last heard 14 May
Ryan Sean Adams’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 13 in all, peaking in May 2026 with 3.
Appearances
All of this happened in 31 transactions over 12 minutes that resulted in $285 million getting drained.
The Drift token fell 20% in the hours after the exploit was first reported.
There's a lot of just kind of criticism on the Drift structure, the admin setup, the multi-sig setup of Drift from some DeFi founders.
So both Stani from Aave and Hayden from Uniswap said something to the effect of Drift was not DeFi.
If you have admin keys that can do these sorts of things, like one single entity can govern this protocol in this particular way, that's just not DeFi.
Hayden said, people might accuse me of gravedancing for saying it, but we have to stop letting centralized things call themselves DeFi.
An admin key that can drain all the funds?
CeFi.
Otherwise, DeFi means nothing and the brand is destroyed.
No admin key can drain any version of Uniswap for a reason.
I think there's a point there to be taken of just the whole point of this thing is smart contracts and code.
And that's the thing to aspire to.
Granted, that's a very difficult thing to aspire to.
And we've also learned other lessons in the inverse direction of things completely governed by code also have problems.
So it's a little bit stuck between a rock and a hard place.
I think the big lesson to be learned was the zero time lock, the zero second time lock where new governance decisions, new admin changes go into effect immediately and don't give any sort of recourse.
There should be, I don't know, 24 hours, seven days before some things take effect that would allow people to just raise a flag and be like, yo, this is not right.
You should have a setup that does not touch anything else other than doing it one job.
Absolutely.
Yeah, the five-year plan talk.
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