ImmutaSwap security is a primary concern for this project. The initial version is a semi-centralized exchange since all liquidity will be stored in ImmutaSwap-controlled decentralized wallets. When users send liquidity to ImmutaSwap, this crypto will be transferred to these decentralized wallets. This creates a non-trustless environment in which addition measures must be taken to protect the users as well as ImmutaSwap.
In order to mitigate these risks, the following approach will be taken:
ImmutaSwap will use a novel approach called Wallet Silos to protect the ImmutaSwap wallets against hackers and insider threats.
Excess cryptocurrency will be stored in cold storage. When large transactions are requested, funds will need to be manually disbursed. This makes the liquidity pool a little less liquid as it requires a human to manage funds for large transactions, but it reduces the magnitude of damage that could occur in the event of a potential security breach.
ImmutaSwap shall hire a 3rd-party security consultant to analyze application code for potential bugs and procedures for potential exploits.