Security

Safety Philosophy

Our approach to security is based on the philosophy of eliminate attacks from inside and eliminate any attacks from outside and decentralize as fast as possible.

This means we do not have admin keys for any code we put out, it will be fully permissionless. Wherever possible, we use 3rd party code which is fit for purpose rather than build it ourselves. In addition to being battle-tested and 'pre-audited', this approach saves time, effort, and money. This method of doing things also means we do not have the capability to rug pull, furthermore the code is available for the public at our Github.

First major steps towards the DAO handover will be occurring in September, 2021, and will further insulate the DAO and her members against any malicious behavior, from outside or within.

Team tokens (at the time of update) are locked with team.finance, more can be read about that in our Medium article on the subject.

$OPEN locked with team.finance

In short, 67.7Mil $OPEN tokens (67.7% of supply) are locked with Team Finance for 1 year, after which they will be relocked as necessary. The breakdown of locked $OPEN tokens is as follows:

  • 10.97% - 7,426,707.19 from Treasury

  • 20.58% - 14,000,000.00 from Team

  • 68.35% - 46,273,292.81 from Community

We will likely repeat this process with similar % breakdown when the tokens unlock. At the end of this lock period we expect to have the DAO governance process ready and the control of these tokens will be handed over to the DAO.

Even after the control is handed over to the DAO we will have linear unlocks which means the full supply does not come into circulation for another 9 years.

Token lock tx: https://etherscan.io/tx/0x8289299c3d39bd36d9cd952e8d1f8ee142e9d057ff6b4c5c898e03b305c409cd

Team Finance token vault: https://etherscan.io/tokenholdings?a=0xc77aab3c6d7dab46248f3cc3033c856171878bd5&ps=100&sort=total_price_usd&order=desc