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Security Measures

To safeguard the integrity and stability of the Open Dollar protocol, several security measures have been implemented, including but not limited to:

  1. Comprehensive Audits: The core GEB contracts were audited by OpenZeppelin. Other helper contracts were audited by Quantstamp. Open Dollar’s changes and additions to this base protocol and those concerning NFVs have been audited by Code4rena. Additional audits and security scans have been carried out by Pessimistic and Pashov Audit Group.
  2. Multisig Wallet Management: The protocol, particularly in its early stages, is overseen by a multisig wallet. This approach distributes control among multiple parties, reducing the risk of unilateral decisions or compromised single points of failure.
  3. Parameter Optimization: Governance continually assesses and optimizes various protocol parameters. This includes settings for debt and collateral auctions, as well as global settlement procedures, to ensure they are effective and do not inadvertently introduce risks.
  4. Continuous Monitoring and Updates: The protocol undergoes constant monitoring, with the team being vigilant about potential threats and ready to implement updates or fixes as needed.
  5. Community Involvement: By involving the community in governance and decision-making processes, the protocol benefits from a diverse range of insights and perspectives, which can aid in identifying and addressing security concerns.

These measures, collectively, contribute to a robust security framework, aiming to protect user assets and ensure the smooth operation of the Open Dollar protocol.