DeFi's Future in Global Finance Faces Challenges, Says Curve Founder

Curve founder Michael Egorov expressed on the X platform that decentralized finance (DeFi) is poised to be the future of the global financial system. According to Odaily, he highlighted recent security incidents, many of which stem from centralized single points of failure, as significant obstacles to the industry's progress. Egorov cited the Aave and rsETH incidents as examples, where multiple parties claimed the systems were functioning normally, yet users were unable to withdraw funds. This situation exposed issues related to infrastructure dependency and the dispersion of responsibility. He emphasized the need for the industry to proactively reduce single point of failure risks and to distribute trust when unavoidable, while sharing best practices and security experiences. Egorov called for the establishment of unified DeFi security standards and suggested that ecosystem organizations, including the Ethereum Foundation and Solana Foundation, lead the development and verification of security principles and guidelines.