Risk Management

Introduction

Venus Protocol is deeply committed to ensuring the highest level of security and risk management for our users. This section of the documentation outlines our comprehensive approach to risk management, emphasizing our continuous monitoring practices, partnerships for enhanced security, real-time alert systems, and ongoing risk assessments.

Multiple Audits Before Deployment

  • Prior to deployment, Venus Protocol undergoes extensive audits conducted by industry-leading security firms. The results of these audits are publicly accessible and have been fully implemented, ensuring a robust and secure framework.

  • Access our detailed audit reports here: Security and Audits.

Continuous On-Chain Monitoring

  • Venus Protocol has partnered with Chaos Labs, a leader in blockchain security and monitoring. This partnership equips us with sophisticated tools for continuous on-chain monitoring, significantly enhancing our risk control and mitigation strategies.

  • Explore our monitoring dashboard for real-time insights: Chaos Labs Risk Overview.

Real-Time Alert System

  • To further enhance our risk management, we have implemented a real-time alert system via Telegram. This system provides immediate notifications for critical events such as market high utilization, significant whale movements, and borrow/supply cap utilization.

  • Join our alert channel to stay updated: Chaos Labs Telegram Alerts.

Dynamic Risk Management

  • In collaboration with Chaos Labs, we continuously analyze market conditions and adjust risk parameters across all pools regularly or anytime there is need for adjustment to mitigate risks due to market conditions. These adjustments are based on comprehensive data analysis and are integral to maintaining the stability and security of the protocol.

Frontend

Several security measures have been implemented to mitigate the security risks associated with the frontend app deployed at https://app.venus.io.

  • The Venus Protocol UI is deployed on AWS infrastructure. Additionally, Cloudflare is employed to distribute the web app. The relevant security services in both AWS and Cloudflare are properly configured to detect and mitigate security risks.

  • SPF and DKIM are configured to protect every email sent from a @venus.io account.

  • Web certificates, generated by AWS, are set to auto-renew.

  • Venus nameservers are hosted on Cloudflare, serving as our DNS provider.

  • The Venus Protocol UI utilizes Chainalysis to assess the risk profile associated with web3 addresses. If the risk is deemed high, the connection is disallowed, preventing any interactions with contracts from the UI involving that risky address.

  • Only privileged users have the authority to deploy the open-source code, accessible on Github (https://github.com/VenusProtocol/venus-protocol-interface), to the domain app.venus.io. Additionally, only privileged users are authorized to merge pull requests in the Github repository.

Conclusion

The risk management practices at Venus Protocol are designed to provide a secure and stable environment for our users. Our commitment to continuous monitoring, real-time alerts, and dynamic risk adjustments ensure that we are always at the forefront of blockchain security. We encourage our community to explore the provided resources for a deeper understanding of our risk management protocols.

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