We took into account the risks of flash loan attacks during the tokenomics development. To completely avoid this risk, the tokens emission is not tied to the TVL size. At the same time, high commission for a transaction with a system token, staking and farming makes the possibility of farming or staking in one block too expensive. Manipulation with the $8F rate under such conditions with a flash loan becomes too expensive.
Our top priority is your funds safety. However, cryptocurrency is the most risky investment asset. Most of the technologies and solutions used by 8.Finance (and other DeFi projects) are very fresh and have not withstood the test of time yet. To ultimately protect users from losses, we provide an opportunity to insure the risks associated with loss of funds in case of a hacker attack and other destructive actions of a third party, which may lead to partial or complete loss of funds in staking or farming on the 8.Finance platform. Insurance partner - nexusmutual.io or bridgemutual.io (under negotiation).
3D verification consists of three verified contacts in:
- google 2FA
3D verification is a voluntary function and is activated upon request of the user. 3D verification is designed for protection of the client's account from unauthorized access. If activated, 3D verification must be completed for all three contacts in the following cases:
- restoration of access to a referral network
- connection of an additional wallet to the account
An additional tool for account security provision in the referral system. When the IP addresses whitelist is activated, the address from which the activation is performed is automatically included in the whitelist, as well as a form for IP addresses whitelisting.
With the whitelist activated, the system blocks any operations on the user's account at the 8.Finance platform in case of entry from another IP address that is not on the list.
To perform operations at the 8.Finance platform when operating from another IP address not on the list, this IP address must be included in the list after 3D verification.
Phishing attacks and theft of user funds by site clones are a common type of fraud. To prevent fraudulent activity, we strongly recommend the following:
- To pass 3D verification and confirm your login with a one-time password in telegram, google 2FA or e-mail
- After registering at the platform, the user will have the opportunity to specify an anti-phishing code. Each private message from the project will be accompanied by this secret password, which will allow to determine whether the message came from scammers or from the official project
- To notify the administration via mail or private messages about the presence of scammers acting under the name of the project
Another mechanism for consideration:
- When registering or at any other time, the user types an anti-phishing word/sentence
- Each time the user logs into the account, a) a part of this anti-phishing word/sentence is shown; or b) they can click the “Fish” icon to make a part of the anti-phishing word/sentence appear
- If this part turned is correct, then they are on the real site
- If a part of the anti-phishing word/sentence was not shown, the user must understand that they are on a phishing site
A smart chatbot in Telegram or in your own application, with which you can communicate with on any issues related to the 8.Finance project.
A single-window system allows the following:
- to view cryptocurrency rates and forecasts
- to analyze trading volumes and TVL volumes in the project
- to analyze the amount of funds in Treasury and other project storages
- to view statistics on the referral program
- to generate a referral code
- to receive notifications of the latest news
- to receive trading signals from the autoregulation system
- to receive warning messages about suspicious activities on your account and fraudulent activity (SCAM-alert)
- to get live advice from support service and ambassadors
The suspicious activity alert system is designed to warn the user about all suspicious transactions related to the user's account and wallet:
- password errors during 3D verification
- during withdrawal of funds from staking/farming
- during transfer of funds from your wallet to another one
- if fraudulent activity is detected and additional actions are needed to protect personal savings
When operating with various DeFi projects, we cannot always be sure of their reliability, so after we terminate working with them, it is important to disconnect the wallet from the smart contract of the project you no longer work with. There are cases when a person has already withdrawn funds from a scam project prior to its termination. However, without disconnection, intruders can still have access through a smart contract to the user's wallet and withdraw funds from it.
The mass revoke function allows to disconnect a wallet connected to 8.Finance from smart contracts of all projects except 8.Finance itself with one click. To disconnect the wallet from the 8.Finance smart contracts, extra confirmation is required.
The mass revoke function is free and available to both project users and anyone.
The cryptocurrency regulation process is irreversible and we support our users at KYC passing. For this, we offer to pass verification with an independent KYC service provider, Civic. The Civic certificate will provide users with access to additional features of 8.Finance, as well as access to additional features of other DeFi projects, open up the possibility of investing in projects requiring KYC.
This service is designed to:
- analyze cases of user errors and scams in various DeFi projects: a detailed description of these cases and detailed instructions on how to avoid such errors will warn users from mistakes in the future and protect against low-quality projects
- track all the emerging threats and cases of fraudulent transactions, offer ways to protect DeFi development teams by sharing experience with them, alert users for taking prompt preventive measures
- create educational content for everyone in the open free access based on the 8.Finance educational marketplace to increase the level of financial and DeFi literacy, attract new users to the DeFi world.
A social network with a gaming and educational marketplace is one of the main goals of the 8.Finance project. The social network is the basis for the development of strong human relations between project users and the crystallization of the 8.Finance community. Moreover, the social network will serve as a bridge for newcomers and people not familiar with cryptocurrencies, blockchain technologies, NFTs and DeFI to the new cryptocurrencies world. Here they can get high-quality support in their native language due to the developed network of ambassadors, detailed instructions and all the necessary materials for a safe and easy start working with 8.Finance.
Due to the built-in financial engine from 8.Finance, artists, teachers, artists, bloggers and celebrities of any kind will be able to monetize their content like with the well-known Patreon platform. Unlike the mentioned platform, we will not charge any commission for funds withdrawal from the site. Moreover, the funds collected from subscribers can be transferred immediately for staking or farming, without vesting and verification queues, on the first day of funds reception from subscribers.
User training in digital hygiene basics. This is a very important task, in which a social network/marketplace with educational content and an ambassadors team will play a key role. Educational content that trains for techniques of the safe cryptocurrency use, the basic rules of security and preservation of funds is created both by the project team, using the scam investigation service, as well as by invited influencers, ordinary users.
For additional motivation of the educational content creators at the 8.Finance platform, the project team will allocate additional funds and special, rare and valuable NFTs.
Creation of detailed instructions on use of the existing project functions. Occupies a separate field among educational content. To create the most easy-to-understand, step-by-step manual that will allow anyone to join the project quickly and without problems is a fundamentally important task.
At the very start of the second phase, we are deploying a b2b department to work closely with partners and develop business relationships.
A separate field for the development of b2b relations is partnership with other DeFi and DeGame, NFT projects. All the projects that successfully passed an audit from Certik or other reputable smart contract auditors are invited for partnership.
Mutual integration and support between projects will provide a synergistic effect, where ultimately the end user will be the winner, who will have a choice of services among high-quality and reliable projects.
The main mission of the 8.Finance project is to provide benefit for society. Creation of a perfect and convenient, user-friendly toolkit for the end user is our top priority. With the development of the project and growth of our community participants number, we will have a sufficient information base to create a predictive model based on the mood, opinion of our participants about the market and separate coins. Due to machine learning technologies, the information received is compiled and issued as market expectation of a specific price and the direction of the future trend.
The cryptocurrency market dashboard screener will be useful for both professionals and fresh users. There will be no unnecessary information here, only the most useful one:
- participants sentiment and forecast from three different categories of investors: shrimp, shark and whale (categories are assigned depending on the trade volume)
- trade volumes and locked TVL as percentage change over 24 hours / 7 days / 30 days
- price change in percent over 24 hours / 7 days / 30 days
8.Finance is a MetaFi project where decentralization plays a significant role, on which our users interests and the long-term success of the project depend. Therefore, votes are held using $8F as a government token to make the following types of decisions:
- solutions concerning Treasury Vault
- significant decisions able to significantly affect the project and the community
- suggestions from users coming to the project team
- controversial issues on which the project team wants to find out the opinion of the community
8.Finance decentralized management peculiarities:
- To neutralize the weight of whales able to influence decision-making not in favor of the community, an anti-whale mechanism is in place: the maximum number is $8F, which can take part in a single issue cannot exceed 10,000 tokens.