Security
Security is of paramount importance to BIMA. We are committed to safeguarding the assets and personal information of our users. This Security Policy explains the steps we take to ensure the highest level of protection for our platform and the USBD stablecoin ecosystem.
1. Data Encryption and Blockchain Integrity
Immutable Transactions: Transactions on the blockchain are immutable, meaning they cannot be altered or tampered with once they are confirmed.
Public Key Cryptography: All transactions and interactions on the platform are secured using advanced cryptography to ensure that only the intended parties can access and control their assets.
2. Smart Contract Security
Audits: Our smart contracts are rigorously audited by third-party security firms to ensure they are free from vulnerabilities and operate as intended.
Ongoing Monitoring: We continuously monitor our smart contract environment for any unusual activity or potential threats.
3. User-Controlled Security
Self-Custody: Users are responsible for the security of their private keys and wallets. BIMA has no access to user funds or private keys.
MFA and Hardware Wallets: We recommend users implement multi-factor authentication (MFA) where applicable and utilize hardware wallets for added security.
4. Cold Storage for Reserves
Bitcoin LST Backing: The assets backing the USBD stablecoin are held securely in cold storage, reducing the risk of online threats.
Auditable Reserves: Our reserves are fully auditable and transparent, aligning with our commitment to decentralized and secure operations.
5. Incident Response
In the event of a security breach, we will notify users through decentralized communication channels. Our incident response team will act quickly to assess and mitigate any issues.
6. Bug Bounty Program
We encourage community participation in our security efforts through our bug bounty program. Ethical hackers are invited to report vulnerabilities in exchange for rewards, helping us strengthen the platform.
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