As with all of DeFi, there are several risks that our users and stakeholders need to be aware of.
Liquidation Risks：An open trade position will be liquidated when either the user’s margin cannot cover the maintenance margin.
Smart Contract Risks：Decentralized applications have inherent smart contract risks through vulnerabilities in their codebase. At Borabora, security is our primary concern. As such, we have undergone several audits.The Borabora DAO has full ownership and oversight over the security of the platform and can commission any further security-related actions.
Security at Borabora
Security is priority number one. DeFi can be an intimidating place, especially at a time when exploits and hacks are rampant. For market participants, this leads to uncertainty and a general lack of confidence across the industry. To mitigate this impact, the team is focused on acting with integrity and rigorous oversight across the Borabora ecosystem whilst we pave our way toward trustless decentralization. We believe this ensures all stakeholders can participate at Borabora with peace of mind in the system as a whole. We are not here to sell you a product, we are here to build a community.Borabora is developed by a team of industry veterans with significant experience in auditing and protocol development. Our codebase has been thoroughly tested and peer-reviewed through standardised audit and verification processes.These processes include:
Formal verification of the core smart contracts
Full code review of the core smart contracts
Numerical error analysis
Code review of periphery smart contracts (during ongoing development)
While we have taken every precaution to ensure the safety of user funds and instil confidence in our work, we still must remind users that this is all-new technology and not without risk. Please use best practices in risk management when deploying capital across the space.
The Borabora contracts have been audited by Certik and Eocene.
Users’ security is our priority! Caution should be exercised when interacting with any smart contract or blockchain application. While risks are attempted to be mitigated through testing, audits and bug bounties, there is always a risk of vulnerabilities in smart contract code due to lack of regulation. Please, be responsible and careful with your data and private information.
At the same time,We want to make you aware of the most widespread scams and fakes and provide advice to help you in case of a threat.
We really care about the safety of our users’ assets. However, the Borabora team is not responsible for your assets if you fall for a scam.
NO borabora app available on Google Play and App Store! Please, DON'T download any applications on the Internet.