The BNB Chain blockchain has launched a new community-managed security program called AvengerDAO. This app helps users protect themselves from scams, malicious agents, and potential exploits.
According to Mihan Blockchain and quoted by Coin Telegraph, AvengerDAO has been developed in cooperation with several top companies in the field of blockchain analysis and security and top DeFi projects.
This security-oriented DAO has been developed in cooperation with top security companies and popular crypto projects such as Certik, TrustVault, PancakeSwap and Opera.
AvengerDAO’s security program consists of three main components, which are a passive API system called Meter, a subscription-based alert system called Watch, and a programmable fund management system called Vault.
AvengerDAO adds a layer of security to the process when BNB Chain blockchain users interact with any of the network’s applications. The Meter system receives the rating of smart contracts, domains and addresses and alerts users if security vulnerabilities are observed and identified. The Watch system simultaneously warns users about existing exploits, and the Vault system acts as an escrow, during which funds are released only if prerequisites are met.
Gwendolyn Regina, head of BNB Chain’s investment department, explained in an interview with the Telegraph how the community can be responsible for security decisions. Regina said the community surveys security audit service providers to determine which types of security vulnerabilities are common. He added:
We believe that when security auditing companies join this DAO as members, together we can achieve a more accurate understanding of the security landscape and work on improving this landscape.
Some members of AvengerDAO, such as the decentralized security program Hashdit, now have a version for Pancake Swap. has offered which allows users to obtain the security rating of smart contracts they have interacted with since the beginning of September.
The BNB Chain network has paid special attention to the security of users and has released various plans and programs in the last few months. Before the launch of AvengerDAO, BNB Chain launched Dappbay with a new feature called Red Alarm. This feature evaluates the risk level of projects simultaneously and warns users about dangerous decentralized applications.
In the first month of its release, the red alert feature has identified more than 50 projects that pose a significant risk to users. This security feature has analyzed 3,300 smart contracts in July alone.
Although the red alert feature was developed only to identify vulnerable projects and smart contracts that pose financial risks, AvengerDAO aims to become a multi-dimensional security program focusing on simultaneous detection of exploits and vulnerabilities.