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DERS

A giant leap to secure DeFi

Created on 8th December 2024

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DERS

A giant leap to secure DeFi

The problem DERS solves

We are not trying to solve smart contract level security issues, that are coverd unter the auditing, but rather real-world issues a DeFi smart contract faces, or faced by it's consumers. Any enviornment where people transfers thier money everyday, is susceptable to manipulations, which might lead to entire failiure of protocol or loss of commenors money, we solve this issue by setting up a validator community, who monitors smart contracts in return for rewards.Once a contract is registerd over the platform the validators will create and vote incase of any threats. In addition to this we have an AI for quick intereferance which monitors your contract and puases it when a threat is detected. The threats include Price Oracle Manipulation in DEX's, Flash Loan Attacks, Governance attacks etc.

Challenges I ran into

Buidling consesus algorithm was little diffucult, for fidning the best for this purpose.

Additional Features

-AI monitoring for quick response.

  • High priority and low priority Alerts.
  • Smart contract level puasing.
  • Exclusive reward program for voters, also greater reward for the creator of alert.
  • Rank based priority system, which acts as threshold for alert creation and consensus.
  • Higher the stake hiegher will be the reward.

Tracks Applied (6)

AI X Crypto

We have developed an LSTM based model using pytorch from scratch which monitors the smart contracts and alerts or blocks...Read More
Polygon

Polygon

Build Innovative Consumer Apps on Base

We have our dapp deployed on Base chain, it's available for securing all the contracts on BNB testnet.Users can now sec...Read More
Base

Base

Best Consumer-Focused Application Using Okto

This is for protecting the end users from manipulations that can happen in protocols, which ultimately lead to consumers...Read More
okto by CoinDCX

okto by CoinDCX

Pool Prize

Our entire dapp runs on OKTO, kudos to the team for helping multiple times
okto by CoinDCX

okto by CoinDCX

Open Track

We have our dapp deployed on BNB testnet chain, users can now secure their defi project using this project, we also hav...Read More
BNB Chain

BNB Chain

Reels Prize

I have recorder a reel, here is the link: https://x.com/TaslimMuhammed/status/1865586795565768775
okto by CoinDCX

okto by CoinDCX

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Cheering for a project means supporting a project you like with as little as 0.0025 ETH. Right now, you can Cheer using ETH on Arbitrum, Optimism and Base.

Discussion

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