What Makes a DeFi Protocol Trustworthy?

  1. Flash loan attacks: hackers multiply their holdings and abuse the system by engaging in high-volume transactions to inflate the price feed
  2. Rug pull: developers have a “back door” to withdraw all their locked funds in the smart contract from the liquidity pool
  3. Smart Contract Vulnerabilities: primary cause for DeFi exploits.

Phantom’s Approach: Security Code Audit

PS: Be Aware of the Scammers

  • Currently, Phantom Protocol has NO token sale events
  • We will NEVER ask you to send money to any contract address
  • ANY offer that is NOT published through Phantom’s official accounts are fake & scams

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