Ethereum community members have proposed a new standard to improve the security of decentralized finance (DeFi) protocols. The proposed standard, known as ERC (Ethereum Request for Comments) 7265, would enable “circuit breakers.”
Fluid Protocol’s Meir Bank stated that ERC 7265 allows teams to create a circuit breaker to secure their protocol and provide highly customized rate limit parameters for each asset.
When a hack occurs, the attacker will no longer be able to drain the entire contract in seconds. Most of the funds can be recovered.