Chris Blec (DeFi Watch) on the Pursuit of Transparency in DeFi

Chris Blec is a researcher and the founder of DeFi Watch, a project dedicated to identifying points of centralization and risk factors in DeFi, in particular the presence of admin keys. In this episode:

  • How Chris got interested in DeFi
  • How he first noticed the risk of admin key usage
  • The changing nature of admin keys and multisigs
  • Whether project multisigs reduce dependence on trust
  • Why worry about Admin keys in the first place?
  • Have DeFi projects improved their key management and trustlessness over time?
  • Chris’ letter to 0xPolygon
  • Chris’ plans with DeFi Watch
  • Should Bitcoiners care about DeFi? About admin key failures?
  • Why transparency is a self-regulatory measure

Sponsor notes:

Copper is transforming how institutional investors engage with digital assets by developing award-winning custody and next-gen trading infrastructure. Headquartered in London, the firm is scaling rapidly across Asia and North America to bring its suite of products to a wider pool of institutional investors. To learn more visit or reach out on Twitter, @CopperHQ

Aave is a decentralized, open source, and non-custodial protocol where users can deposits and borrow digital assets, and earn interest on those assets. Head over to to experience and learn more about DeFi.