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.
Last modified 5mo ago