Risks of DeFi lending platforms include smart contract vulnerabilities, potential loss of funds due to market volatility or defaulting borrowers, regulatory uncertainties, lack of insurance or recourse mechanisms, and potential for scams or fraudulent activities.
Developers can take into account certain things in DeFi lending platform development to ensure the security of a DeFi lending platform by conducting thorough smart contract audits, implementing robust risk management mechanisms, following best practices in coding and security, maintaining strong encryption and authentication measures, and regularly updating and patching the platform to address vulnerabilities.