Security Updates

Security Updates

As part of the Smart Stables System Improvement Proposal 1 (SSSIP-1), usdx.money implemented additional safeguards at the smart contract level to mitigate risks associated with minting activities.

Maximum Mint per Block

The max mint per block parameter serves as a critical control mechanism, capping the amount of USDX that can be minted within a single block. Currently the max mint per block is set at $5m. This limitation ensures that no single transaction or series of transactions within a block can exert undue pressure on the USDX markets, preserving the peg and protecting against destabilizing activities. By restricting the scale of minting, the protocol proactively addresses the potential risks of market manipulation or exploitation that could threaten its stability.

Timelock

The introduction of a timelock feature adds another layer of temporal security to the minting process. By enforcing a time delay between minting requests, this mechanism prevents the possibility of automated exploitation of the minting function on a block-by-block basis. This deliberate delay allows the protocol team and the broader community sufficient reaction time to identify and respond to any irregularities or malicious attempts to exploit the minting process.