Security and self-custody are of the utmost importance to the team at eosfinex. Non-custodial, self-custodial, or trustless technology not only protects consumers from hacks, it adheres to the true ethos of the cryptocurrency revolution: the freedom to take back control of our own financial assets and free ourselves from violation of our financial sovereignty.
eosfinex self-custody is powered by a series of trustless EOS smart contracts with transparent processes and logic which have been audited by reputable and capable independent parties in the EOS community.
The eosfinex smart contracts are designed from the ground up to ensure that it is never possible to confiscate, freeze or otherwise impede users access to their funds. Exchange and counter-party risk are eliminated entirely. At no point in time are funds beyond the control of users. All transactions which touch user funds - order creation and cancellation, transfer to and from the custody smart contract - require the authentication of users' EOS keys and as such funds are never accessible to eosfinex or any party other than the owner of the funds.
Smart Contract Audit
Our smart contracts have been thoroughly audited by independent parties. To audit the eosfinex smart contracts we selected the team at EOS Argentina. EOS Argentina is a respected participant in the EOS community with a track record of integrity and encouraging the use of the EOS Blockchain. The EOS Argentina team includes former EOS.io engineers and as such they are experts in EOS smart contract technology and capable of identifying risks. Learn more about EOS Argentina here.
Additional Security Measures
- Should updates ever be required, eosfinex custody smart contracts are programmed to automatically return all funds to users in advance.
- In the unlikely event that eosfinex goes offline unexpectedly, funds are still never out of the reach of users. Similar to the behaviour for updates, after 24 hours the custody smart contract will allow users to call a smart contract action to force funds out of the contract.