Security & Risks

In the space of crypto, especially in the Decentralised Finance (DeFi) space, users have to understand the risks of projects and smart contracts before venturing into DeFi. We call this DYOR (do your own research).

As part of NewB.Farm's long-term commitment to security and building trust within the community, we have laid out the ways in which we attempt to mitigate risks and provide a seamless NewB.Farm experience that users can trust. Details can be found in the medium article over here.

General DeFi Risks

DeFi risks encapsulate a wide range of risks such as impermanent loss to risks of falling for scams such as wallet draining, private key being stolen, et cetera. Hence, DeFi users have to be careful themselves and learn to educate themselves constantly in this space. You can find a guide to keeping your funds SAFU here.

Smart Contract Security & Risks Smart contracts are an innovative way for cryptocurrencies to interact with one another and with dApps (decentralised applications). However, due to the complexities that come with smart contracts, certain smart contracts may be prone to hacks. We've mitigated this risk by equipping all smart contracts with 24hr time-locks and having reputable auditors such as The Arcadia Group and Knownsec audit the entire project.

Audit Reports

• Knownsec

• Noneage ( Contract Address For Audit: 0x545f90dc35ca1e6129f1fed354b3e2df12034261)