Sad to see the Balancer exploit. I was running with a reasonable amount of DeFi risk going into 10/10, and that event kind of shocked me into sobriety. I didn't take any massive hits, which was lucky, and largely exited most protocol exposure out of caution. When OG DeFi gets exploited the whole space suffers. Those DeFi users who believed they were risk adverse get reminded very quickly that they were in fact taking a lot of risk. It leads to onchain contraction at worst, and a lack of growth in the following months at best. Balancer had 10+ audits and the vault was audited 3 separate times by different auditing firms. Audits are clearly not enough. Users will now demand more assurance their funds are safe. I think there are some teams that have done everything possible to push forward safety in DeFi. Got to give a shout out to @kamino who have gone through rigorous formal verification for their contracts (rigorous mathematical proofs to ensure code does what it’s supposed to do), which seems like something every serious DeFi protocol needs to do going forward. As painful as these events are, DeFi does continue to harden, and new security standards emerge as a result. There's clearly still a long way to go.