Security

Security is a top priority for Illiquids, ensuring the safety of user funds, smart contracts, and platform operations. The platform is built on the Ethereum blockchain, utilizing robust security measures and best practices in decentralized finance (DeFi). Below are the key security features and protocols employed by Illiquids:

1. Smart Contract Audits

All smart contracts governing Illiquids undergo rigorous audits by independent, reputable third-party security firms. These audits are conducted to identify and eliminate potential vulnerabilities, ensuring that the contracts perform securely and as intended. Audit reports are made publicly available to promote transparency and build trust within the community.

2. Non-Custodial Design

Illiquids operates as a non-custodial platform, meaning that users maintain full control over their assets throughout the process. The platform never holds or stores user funds, reducing the risk of theft or hacking. All transactions, including the buying and selling of locked LP tokens, are executed directly through secure Ethereum smart contracts.

3. Secure Wallet Integration

Users interact with Illiquids by connecting their Ethereum wallets, such as MetaMask. The platform employs secure wallet standards, ensuring that sensitive information such as private keys and assets remain under the user’s control. Illiquids never accesses or stores wallet data, minimizing the risk of breaches.

4. Regular Security Assessments

Illiquids conducts ongoing security assessments and vulnerability testing to ensure that the platform remains resilient against emerging threats. The team actively monitors for any vulnerabilities in smart contracts or external integrations and implements necessary updates to strengthen security.

5. Compliance and Regulatory Adherence

Although Illiquids operates in the decentralized finance space, the platform adheres to relevant legal and regulatory standards to ensure compliance and protect users. The project team works closely with legal advisors to stay updated on evolving regulations in the blockchain and cryptocurrency sectors.

6. User Awareness and Education

Illiquids promotes security awareness among its users by offering guidelines on best practices for wallet security, transaction verification, and phishing protection. Regular updates and notifications about potential risks and how to mitigate them help ensure a safer experience for the entire community.