Security & Risk

Security
We adopt the highest level of security standard to ensure the safety of your fund:
Smart Contract Audit: 
Completed by Certik, Beosin & PeckShield
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Transparency: 
Pinecone protocol is decentralized and open-sourced: our site and all the smart contract codes are publicly available for maximum transparency
Our contracts are verifiable on www.bscscan.com so you know that what you see is what you get
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Best practices for security: 
We use time-lock on our smart contract to give you peace of mind
We have set the Max Transfer Limit per block  to prevent bots and hackers (mostly hackers using flash loan) from exploiting. 
We also restrict direct interaction of smart contract with our protocols from third parties to further cut off the access from hackers/bots.
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 Risk

DeFi has been a prominent innovation that has had the most impact on traditional finance recently. Technically, DeFi employs automatically enforceable agreements or smart contracts built on blockchain technology to enable traditional financial services such as banking, exchange trading, and insurance etc without involving intermediaries.
‌Defi has hugely improved efficiency and transparency thanks to its decentralization and openness. However, Defi only started booming from the second half of 2020,  hence it inevitably face pressure test in terms of systematic security, which was relatively well established in traditional financial markets for decades.   
Systematic Risk
The Systematic Risk would be the fluctuation of monetary value of assets deposited, being in unstable coins such as BTC, ETH, CAKE, BNB, etc. For example CAKE could be $20 when you deposited and might go down to $15 when you withdraw, and vise versa. Therefore the APY of your investment can be affected significantly. 
Technical Risk
There are always potential risks for participating in DeFi projects  and we have taken a multitude of safety measures to mitigate the risk. Firstly, we learned from many other projects who suffered from technical hacking or economical exploit and adopt the best practice in code security and tokenomics design. Secondly, we have had our smart contracts audited by  professional third-party firms to minimize the chance of vulnerabilities. Thirdly our developers will assess and scrutinize the smart contracts thoroughly from any external third parties and we will only interact with contracts that meet our security standard. 
Crypto Wallet Risk
In fact from a user perspective, the most unexpected risk might be associated with the crypto wallet. 
It is your own responsibility to keep your crypto wallet safe and secure!
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 Some tips from crypto veterans to keep your wallet safe!
The private key and the Seed Phrase belongs to you ONLY! There is no reason to share it with anyone else, no matter who they are or what they say
Write the Seed Phrase on a piece of paper and store it securely offline. Do not store your private key or Seed Phrase on any cloud space including keeping it in your mail box
Do not reuse the same password! Use unique password for your browser based wallet
Ensure the anti-virus software and firewall is turned on and working properly on your computer
Don't click on links or download software from unknown sources
Check your browser settings and ensure the highest security setting is on! Remember to clear the browser cache often!
If possible, don't use public WiFi or third party WiFi that you are not familiar with, as it can be tampered by hackers. Even if you have to use a third party WiFi, avoid making transactions from your crypto wallet
Whenever possible, use a wallet on a credible CEX exchange to send or receive crypto funds instead of your MetaMask or Trust wallet
Learn more about crypto wallets security tips from MetaMask and Trust Wallet!
While we do our best to help you eliminate all the possible risks, DeFi is an industry where there are always events that no one predicted can occur (the dreaded black swans). It is better to take precautions than to be sorry. 
If you can, try not to keep all the funds in one wallet, just as squirrels never keep all their pinecones in one place!
One last reminder: Do your own research (DYOR) before investing in any projects and don’t invest funds that you can’t afford to lose!
 
 Safe Farming and Stay Away from Hunters!
  
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