bZx is committed to ensuring the security of user funds. Here’s how we keep our platform safe:
We hire reputable security auditors to ensure our code is free from unexpected vulnerabilities.
Our team works with industry-leading oracle providers to tackle the unique security challenges posed when working with oracles in a decentralized environment.
We value the work of white hat hackers who help us maintain the security of our platform. As the TVL of the protocol scales, we will scale these figures upward. It is our goal to have the most favorable bug bounty to asset locked ratio in the industry.
On the first day of launch, the protocol will be custodial with a fully functional administrative key. We will rapidly transition to a 48 hour time locked administrator key. The timeline for this transition is within 48 hours to 96 hours, depending on community feedback and protocol conditions. Within the next month, we will install the governance and staking modules, moving to a full-fledged DAO.
Many leading lending protocols have poorly optimized risk parameters that are based solely on the collateral being liquidated. This has resulted in massive capital inefficiency since many loans are overcollateralized far in excess of the actual risks at play. Instead of setting risk parameters on the basis of collateral, the protocol sets risk parameters on the basis of trading pairs.