Yearn exploit and smart-contract security

Welcome to The Chopping Block — where Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner cover crypto’s biggest moments. This week we’re joined by Kevin from the Monad Foundation as we dig into the most chaotic token launch of the year. Monad goes live, CT explodes, and the tokenomics wars come roaring back — vesting, float, FDV, and why everything “just keeps going down.”

We break down whether the world actually needs another L1, how hype creates impossible expectations, and how Kevin and the Monad team are handling the spotlight — and the hate. Then we shift to security chaos: Yearn’s underflow hack, Anthropic’s AI discovering real smart contract vulnerabilities, and “post-quantum” panic sweeping Crypto Twitter. Plus: BTC volatility, MicroStrategy drama, and prediction markets suddenly going mainstream.

Show highlights

🔹 Monad’s explosive token launch — hype, backlash, and why it became CT’s main character of the week.

🔹 Kevin joins to break down the launch mechanics, the expectations, and what the team actually prepared for.

🔹 “Low float, high FDV” returns — why vesting debates reignited and why tokens keep sliding despite higher floats.

🔹 Do we really need another L1? The crew dissects infrastructure fatigue, tribalism, and what counts as real differentiation.

🔹 Why hype almost guarantees disappointment — and why early sentiment rarely predicts long-term outcomes.

🔹 Handling the hate — Kevin explains how the team reframes attention, survives the noise, and stays focused post-launch.

🔹 Yearn Sonic exploit — a simple underflow bug hits an OG DeFi protocol, reigniting security concerns.

🔹 AI finds zero-days — Anthropic’s agents discover new smart-contract vulnerabilities and spark an AI security arms race.

🔹 Quantum panic — why “post-quantum” became CT’s latest engagement meta and what it actually means for chains.

🔹 Macro shakeups — BTC volatility, MicroStrategy flirting with NAV, and equities demolishing crypto returns.

🔹 Prediction markets breakout — Polymarket’s US launch, Kalshi’s mega raise, and Robinhood bringing event contracts in-house.

🔹 Long-tail opportunity — why prediction markets may extend far beyond politics and sports to everything people care about.

Hosts:

⭐️Haseeb Qureshi, Managing Partner at Dragonfly

⭐️Robert Leshner, CEO & Co-founder of Superstate

⭐️Tom Schmidt, General Partner at Dragonfly 

Guest

⭐️ Kevin McCordic, Director of Growth at Monad Foundation

⁠Disclosures⁠

Timestamps

00:00 Intro

01:21 Monad: Hype, Hate & Week-One Reality

06:08 Vesting, Float & the “Low Float, High FDV” Meta

17:27 Do We Need Another L1? 

25:08 Public Perception, Expectations & Narrative Cycles

35:54 Yearn’s yETH Exploit & Anthropic’s Exploit Agents 

44:06 MSTR at NAV & Equities Leaving Crypto Behind

48:06 Polymarket vs. Kalshi vs. Robinhood

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