⛑️VenusLoop Security
To maintain the security of the VenusLoop Protocol, several practices and mechanisms are employed:
Multi-Sig Wallets: These wallets need multiple keys to authorize transactions, reducing the risk of a single failure point.
Audits: These are done by third-party cybersecurity experts to find and fix potential weaknesses in the protocol's codebase.
On-Chain Monitoring: Genesis uses monitoring tools to detect suspicious activities in real time.
Bug Bounties: These programs reward external researchers for reporting vulnerabilities, benefiting from diverse expertise.
Code Upgrades and Governance: Genesis has mechanisms for security enhancements and functionality, subject to voting by stakeholders.
Decentralization: Spreading control among participants mitigates the risk of single failure points and reduces malicious influence.
Constant Monitoring: Security teams continually monitor the protocol and take quick action to minimize impact during a security breach.
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