Risk and Mitigation
Despite the fact that Smart Contracts are always rated as highly secure, hackers are very good at finding holes to exploit.
As a result, Defi has worked hard to perfect the security features for Smart Contracts. Apart from that, blockchain has long been despised by governments in a number of countries.
It's time to mention that Defi will be taking significant action on their main document. Defi has no effect on individuals' interests, but it has an impact on a country's stability.
As a result, obtaining a cooperation agreement in the host country will be difficult for Defi, to operate in a country that, like China, has the authority to prohibit all Blockchain-related activities.
Blockchain Risk: We are concerned about smart contracts and value transfer risks. Our mitigation strategy is to consult subject matter experts on a regular basis, pay for audits, and avoid experimental chains and contract systems.
Furthermore, before main-net deployment, we will always send our contract codes for audits (typically with https://www.certik.org).
Off-Chain Web Development Risk: We are vulnerable to the risks associated with traditional web solutions. We mitigate these risks by conducting cybersecurity assessments, implementing access controls, testing program code, and maintaining server backups.
Regulatory Risk: Regulatory risks may be associated with the application use case, network participants, and cross-border implications between regulatory bodies. Because DVM Pte Ltd is a registered company in Singapore, we must follow the Monetary Authority of Singapore's regulations (MAS).
We will stop selling any products that violate MAS regulations and will consider applying for the necessary exemptions and licenses to continue selling the offending product.
Existing customers will be able to self-host some of the web-facing infrastructures to continue using these products without interruptions because our blockchain products are mostly decentralized on the blockchain.
We will consult with legal professionals on a regular basis to ensure that we remain compliant.