Folks Finance - xChain App
xChain AppTestnet
  • Folks Finance xChain App Documentation Overview
  • xLending
    • Architecture
    • User account
      • Linking and Inviting Addresses
  • 👨‍🏫User Guide
    • Getting started
      • Creating an account
      • Link/Invite address
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    • Connecting Wallets
    • Depositing Assets
    • Borrowing Assets
    • Closing Loans
    • Withdrawing Assets
    • Swaps
    • Liquid staking
  • 👨‍🔧Technical Details
    • Interest Rate Model
    • Liquidation Process
    • Cross-Chain Messaging
    • Security Measures
    • Oracle
    • Parameters
  • Incentives program
    • Points system
    • Deposit boost
  • 👨‍💻Developers
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  1. Technical Details

Security Measures

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Last updated 3 months ago

At Folks Finance, security is a top priority, ensuring users' funds are fully protected from potential threats. The protocol incorporates a robust range of security measures to maintain the platform's integrity and reliability.

Key Security Measures

Smart Contract Audits:

Folks Finance undergoes regular audits by leading security firms to identify and fix vulnerabilities in its smart contracts.

Audit firm
Link

Ottersec

Immunefi audit competition:

Folks Finance performed two Audit competitions on Immunefi:

Amount
Results

$ 100,000

$ 25,000

Bug Bounty Programs:

The platform incentivizes the community to identify and report potential vulnerabilities through bug bounty programs. Folks Finance has stumped up $100,000 as a bounty for hackers who can identify vulnerabilities in the code.

Rate Limits:

  • To minimize risk and limit potential losses, rate limits are imposed on the maximum amount that can be transferred within a given period.

  • This mechanism helps prevent large-scale exploits and ensures controlled value transfer across the protocol.

👨‍🔧
https://github.com/Folks-Finance/audits/blob/13f8d8307902e8ff7018fe9b6df0b5668c638863/OtterSec%20-%20Audit%20of%20XChain%20Lending%20-%20May%202024.pdf
https://immunefi.com/audit-competition/folksfinance-boost/leaderboard/
https://immunefi.com/audit-competition/mitigation-audit-folksfinance/leaderboard/
LogoFolks Finance Bug Bounties | ImmunefiImmunefi