Decentralized finance has become the primary use case for the world’s most used blockchain.
While DeFi has revolutionized what is possible with finance covering all the money “verbs” we see in the traditional world i.e. saving, borrowing, lending and new primitives such as farming and staking. There are still a number of risks users must be aware of when participating in this new frontier.
Smart Contract Risk
Smart contracts are deterministic pieces of code which process transactions on the blockchain. GaiaDAO uses and will use complex smart contracts to execute yield bearing strategies across the Binance Smart Chain protocols.
As with all software there is a risk of bugs which can lead to smart contracts exploits. GaiaDAO contracts will go through extensive audits. We are confident our contracts are safe however there is always some degree of risk.
Always employ risk mitigation / hedging strategies when interacting with any smart contracts.
When interacting with any Dapps, smarts contracts or simply sending transactions exercise caution and “measure twice cut once”. Ensure to employ the following best practices.
Validate you are at the correct Dapp website. Frequently, malicious actors will duplicate websites tricking users into interacting with the incorrect website and malicious contracts.
Always ensure your transactions are going to the correct address.
A feature of blockchain in general is immutability.
Once a transaction is sent it cannot be reversed.
Never share your private keys or wallet seed phrase and always keep them offline in a secure place. Preferably use a hardware wallet such as ledger nano.
This website is for informational purposes only.
You should not construe any such information or other material as legal, tax, investment, financial or other advice.
Nothing contained in the website constitutes a solicitation, recommendation, endorsement or offer by GaiaDAO to buy or sell any tokens in this or any other jurisdiction in which such solicitation or offer would be unlawful.
$GAIA is strictly a utility token intended to govern the DAO and its activities.
It has not been designed to garner monetary value.
You alone assume the sole responsibility of evaluating the merits and risks associated with the use of any information or content within the whitepaper before making any decisions based on such information or other Content.
Please seek independent legal and financial advice in your jurisdiction before making any investment decisions.