In the crypto space, security is the most essential part for any platform, as they are dealing with cryptocurrencies. An Olympus DAO clone script is built with multiple security features to protect its funds, smart contracts from major security breaches. Let’s explore the various security features of the Olympus DAO clone.
Only admins have access and can perform certain options such as changing reward rates, updating bond terms, managing treasury funds, and so on. This prevents random attacks. It uses time locks while performing major tasks like moving funds or updating contracts in order to prevent the platform from major attacks.
In the Olympus DAO clone, the funds are protected by multisig wallets. So, in order to move funds, it should be approved by several trusted members. Since it works by smart contracts, well-audited smart contracts are used to protect the platform from unnecessary hacks. It builds with a feature called protocol-owned liquidity so that the platform has its own liquidity without depending on its users. Due to this, the platform will not starve for liquidity as it has its own.
