Everything you need to know about Summer.fi Automation Security
Why is using Summer.fi Automated DeFi Position Management secure?
We often get questions about our Automated DeFi Position Management tools, such as Stop Loss, Trailing Stop Loss, Auto Buy, Auto Sell, and Auto Take Profit.
In a previous post, we addressed how our automations work at a high level. Today, we’ll go over how our automations work at a high level a step deeper to understand the more detailed view of our automation security.
No one can ever change your automation parameters except you!
The first, and perhaps the most important, aspect of Summer.fi’s Automated DeFi Position Management is that our automation smart contracts are immutable. Okay, but what does that actually mean?
That means that once you set up your automation, no one can change it except you and your wallet.
Specifically, it means there is no way to “upgrade” the automation contracts. They can’t be changed. The only thing that can be changed are the execution parameters that you set up.
This may sound obvious, but rest assured, immutability is fundamental to DeFi. Nonetheless, many teams and Dapps do not adhere to these principles today, putting your assets at risk.
In the spirit of don’t trust, verify. You can check out our automation smart contracts here.
Audits
In addition to the foundational security of immutable (hint: can’t be changed) smart contracts, Summer.fi Automated DeFI Position management tools have undergone several audits, all Summer.fi of which can be found here.
Bug Bounty Program
Our contracts are immutable, and we’ve undergone audits from top smart contract security firms, but that doesn’t mean that bugs can’t occur. That's why, in addition to all of the other security measures we’ve discussed and which we currently have in place, we also have a bug bounty program with Immunefi.
A bug bounty program that is trusted by top protocols like Maker, Chainlink, and Optimism.
The real test of security: time and volatility
We do our best to design and engineer Automated DeFi Position Management tools that are as secure as possible. The real test comes when they are used in crypto's volatile market conditions.
Our first automation was released in December 2021, meaning we have weathered the storm of some of DeFi’s most volatile moments.
Ready to get started with Summer.fi Automated DeFi Position Management?
Learn more about how Automated DeFi Position Management enables users to focus on the quality of their decisions, and forget about the emotions.
— Summer.fi ☀ (formerly Oasis.app) (@summerfinance_) April 2, 2024
And of course why this is #betteronSummer 🌞https://t.co/qIrUrFNh1c
Getting in touch
If you have any questions regarding Summer.fi, contact us at support@summer.fi or our social media.