Security Precautions
Recognizing the immutable nature of smart contracts, we've implemented several safeguards:
Upgradeable BalanceSheet Contract: This contract, holding user collateral, is designed for upgrades to adapt and enhance security features.
Debt Caps: We've set limits on the amount of debt borrowers can take on, as a measure to mitigate risks.
Operational Pauses: The ability to pause most operations, except for collateral withdrawals, is integrated to ensure protocol stability in volatile conditions.
Over time, as the protocol matures and proves its resilience, these precautionary measures will be revisited and adjusted accordingly.
Security Focus
The security of the IFICHI protocol is paramount. Our team has dedicated significant resources to ensure that the protocol remains robust and dependable.
Security Measures and Philosophy
Public Code Verification: All our contract code and balances are transparent and verifiable through our GitHub repository.
Bug Bounty Program: Security researchers are incentivized to report vulnerabilities, contributing to the continuous fortification of the protocol.
No Initial Audit: While IFICHI has not undergone an audit yet, we emphasize that audits are only a part of our comprehensive security strategy.
Investment in Security Infrastructure: Our focus extends to reliable testing infrastructure, high code coverage, quality internal documentation, adherence to best practices, and minimizing complexity.
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