The Cover Protocol, which served as insurance for the Yearn.finance ecosystem, was exploited to mint a practically infinite number of Cover tokens. The exploit tanked the price of Cover, and this price dump is leaking over into the rest of the Yearn ecosystem.

Analysts say that the event was an exploit, not a hack. (I'm not sophisticated enough of a developer to verify the truth of this statement.) But the difference between an exploit and a hack is important — an exploit means the attacker found a weakness in the code logic, while a hack means the code itself was weak and insecure. The exploit affected the price of Cover only, not the ability of Cover to properly function as an insurance mechanism for other defi protocols.

I just want to let Andre Cronje and all Yearn ecosystem developers — Cover, Pickle, Cream, etc. — that I am supporting you guys through this because of my support for an idea.

Freedom.

The crypto landscape is shaping up to be a two-pronged animal. You have the centralized, compliant side for projects that just want to be an extension of traditional finance. Celsius, Energi, Coinbase — these projects do not interest me for many reasons. Most importantly, they do not adhere to the spirit of crypto, which is to get rid of needless middlemen, not willingly cooperate with them according to their standards. These guys want a quick buck and an invitation to the cocktail party.

Then there's our side — the side of true decentralization, autonomy and opportunity. We don't KYC over here. We don't bow and scrape to government regulation, and we don't adhere to the old ways of thinking about finance or about life. We also face more scams and dishonesty. But now is the time for everyone who really believes in decentralized autonomy, technology for a fairer world and individual financial sovereignty to support the developers who are leading the way.

At the same time, I certainly hope that you developers are taking yourselves seriously at this point. Andre, we all know that you "test in prod" and everything you make is to "make your life easier." Anyone who interacts with your products does his own insisting. But I can't believe this is anything more than a disclaimer. You want to affect the direction of the world. You want to be a legend. Every man does.

I want to take this time to remind you guys that I and many others believe in what you have started. Defi is the way forward for the entire world. It empowers individuals to take control of not just their finances, but their lives. Imagine the innovation the world could produce if 90% of people didn't have to worry about money instead of the 10% we have now. Pickles and sushi can do this.

I beseech you, please continue on the path. As an investor, it's tough for me to look at all this red. But I'm doing it against my natural reaction. I'm buying into YFI, not selling. I'm staking more in Pickle while the rewards are paused. It's because of you guys that I want to be a defi developer. Just a few more good trades and I'll have enough to take a year off and study coding. This is my plan, because you guys have shown me that the world isn't dead yet!

I'm counting on you. Not for money, but for freedom. 

"Well, you should find your OWN freedom."

Shut up. No man is an island, and every man needs to believe in something. I choose this. Don't let me down.