Audit

Overview

Degen Base takes security very seriously. Contracts and system security have been time-tested with a grand total of $0 hacked or lost since the protocol was first launched in 2023 Code and processes are thoroughly reviewed, stress-tested, and independently audited.

Base L2 Security

What is Base Network?

Base is an Ethereum Layer 2 (L2) blockchain built on the OP Stack technology, aiming to offer faster and cheaper transactions compared to the Ethereum mainnet

It was launched in August 2023 by cryptocurrency exchange Coinbase.

Here are some key features of Base:

Scalability: By operating on L2, Base aims to handle a much larger volume of transactions than the Ethereum mainnet, potentially overcoming the congestion issues occasionally faced on L1.
Security: Base leverages the security of the Ethereum mainnet through a process called "proof of stake" (PoS). This means that transactions are validated by validators who have staked their own cryptocurrency, incentivizing them to act honestly.
Cost-Effectiveness: Base aims to offer significantly lower transaction fees compared to the Ethereum mainnet. This makes it more attractive for users who want to participate in DeFi (decentralized finance) applications and other activities without incurring high costs.
EVM Compatibility: Base is compatible with the Ethereum Virtual Machine (EVM), which means that existing Ethereum applications can be easily deployed on Base with minimal modifications.
Decentralization: While currently incubated by Coinbase, Base aims to progressively decentralize over time, eventually becoming a community-owned and operated network.

This, along with a slew of other mechanisms, ensures that Arbitrum inherits Ethereum's robust security and remains trustless. Arbitrum has been running in production since 2021 and secures billions of dollars in assets.

Oracle Security

Degen Base contracts leveraging the Pyth Network for its data feeds. This strategic partnership allows Degen Base to offer users a unique combination of features:

Speed: Pyth Network boasts faster data transmission compared to traditional oracles, ensuring real-time price updates that reflect market activity with minimal lag.
Security: Pyth leverages a proven and secure price feed architecture, mitigating potential vulnerabilities and manipulations often associated with centralized oracles.
Transparency: Price data on Pyth is verifiable and auditable, fostering trust and transparency within the Degen Base ecosystem.

By utilizing Pyth's robust data feeds, Degen Base enables users to enjoy:

Accurate and reliable pricing: Informed decision-making based on real-time market conditions.
Faster execution: Efficient trading opportunities through instantaneous price updates.
Enhanced security: Reduced risk of manipulation and exploitation through Pyth's secure architecture.

Bug Bounties

Degen Base would be offering soon several attractive bounties to white hat hackers who find medium-severity and high-severity exploits

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Last updated 1 year ago

Overview

Base L2 Security

What is Base Network?

Base is an Ethereum Layer 2 (L2) blockchain built on the OP Stack technology, aiming to offer faster and cheaper transactions compared to the Ethereum mainnet

It was launched in August 2023 by cryptocurrency exchange Coinbase.

Here are some key features of Base:

Scalability: By operating on L2, Base aims to handle a much larger volume of transactions than the Ethereum mainnet, potentially overcoming the congestion issues occasionally faced on L1.

Security: Base leverages the security of the Ethereum mainnet through a process called "proof of stake" (PoS). This means that transactions are validated by validators who have staked their own cryptocurrency, incentivizing them to act honestly.

Cost-Effectiveness: Base aims to offer significantly lower transaction fees compared to the Ethereum mainnet. This makes it more attractive for users who want to participate in DeFi (decentralized finance) applications and other activities without incurring high costs.

EVM Compatibility: Base is compatible with the Ethereum Virtual Machine (EVM), which means that existing Ethereum applications can be easily deployed on Base with minimal modifications.

Decentralization: While currently incubated by Coinbase, Base aims to progressively decentralize over time, eventually becoming a community-owned and operated network.

Oracle Security

Degen Base contracts leveraging the Pyth Network for its data feeds. This strategic partnership allows Degen Base to offer users a unique combination of features:

Speed: Pyth Network boasts faster data transmission compared to traditional oracles, ensuring real-time price updates that reflect market activity with minimal lag.

Security: Pyth leverages a proven and secure price feed architecture, mitigating potential vulnerabilities and manipulations often associated with centralized oracles.

Transparency: Price data on Pyth is verifiable and auditable, fostering trust and transparency within the Degen Base ecosystem.

By utilizing Pyth's robust data feeds, Degen Base enables users to enjoy:

Accurate and reliable pricing: Informed decision-making based on real-time market conditions.

Faster execution: Efficient trading opportunities through instantaneous price updates.

Enhanced security: Reduced risk of manipulation and exploitation through Pyth's secure architecture.

Bug Bounties

Degen Base would be offering soon several attractive bounties to white hat hackers who find medium-severity and high-severity exploits