⚡Flash Loan Protection
The key safety feature of this protocol is the fact that there is a two-step minting and redeeming process. First you mint/redeem the tokens, and then you collect the tokens that you have minted, or redeemed, in a separate transaction.
This eliminates the risk of someone being able to use a flash loan to mint or redeem unrealistically large amounts of tokens using a flash loan (ie: money they do not have).
That being said, don't forget to claim your tokens after minting & redeeming!
Note: Of all of the solutions to flashloan attacks that we have seen, one of the most effective and simplest ways to avoid basically all of that risk is to add a required "claim" in a separate transaction when any type of minting or redeeming is requested.
It is simple, and has worked flawlessly for the original protocol (this was implemented after they were hacked, and protected the protocol flawlessly since their re-launch.
In addition to this two-step mint and redeem process, we also utilize Chainlink Price Data Feeds to ensure stable & reliable price reporting for the protocol assets.
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