Is Magpie secure?
Magpie utilizes the same inherent security of the blockchain on which the user is swapping on, and Magpie itself is non-custodial, meaning we are not in possession of your tokens. For liquidity, we leverage existing safe protocols/DEXs and aggregate them.
Is Magpie permissionless?
Yes, Magpie does not require authorization or have KYC. Anyone is allowed to use Magpie to buy, sell, and trade assets.
What does custodial and non-custodial mean, and which is Magpie?
In crypto, “custodial” services and wallets, such as centralized exchanges (like Binance or Coinbase) hold the private key to the users assets, so they are responsible for and in control of them, but can also lock them or prevent users from selling, buying, or withdrawing them.
“Non-custodial” services and wallets give users full control over their private key, meaning no one else can use, sell, or prevent them from moving them.
Magpie is non-custodial.
Has Magpie been audited? What goes into an audit?
Yes, Magpie has been audited by d3ploy.
Here's a quick rundown of what they are looking for when auditing and how they do it:
- Assess the codebase to ensure compliance with current best practices and industry standards.
- Test the smart contracts against command and uncommon attack vectors.
- Ensure contract logic meets the specifications and intentions of Magpie Protocol.
- Cross reference contract structure and implementation against similar smart contracts by industry leaders.
If you'd like the read the audit, you can check out the report here: Magpie Audit Report
Comments
0 comments
Article is closed for comments.