WeStaySafe

We want to onboard a billion people on-chain, however before that we need to make the experience safe for them to interact with projects. If you talk with somebody that got rugpulled or lost their money because of a Defi hack, the chances are that they aren't coming back soon unfortunately. We should and will fix that as the crypto community!

Smart contracts can be called decentralised, but the code itself is often really centralised from a security point of view. Basically smart contracts are like a glass canon RPG build, one hit and you have massive damage or even caused the dead of the project. We should work to a more monitoring and consensus based intervention approach. Here is my proposed solution:

Money outflow of a protocol will be delayed and can be potentially flagged. Let's me show you the different flows:

Happy flow

1. First you ask to set your withdrawLimit
2. After 12 hours you can withdraw your funds because nobody flagged the withdrawal

Rugpull scenario

1. Rugpuller asks to set their withdrawLimit
2. Community can delay/block the withdrawLimit of the rugpuller and leaves the project first if the rugpuller is the founder

Security issue scenario

1. There is a bug in a compiler that is causing an issue for our protocol, but because of the withdrawLimit the community has time to block the transaction. However if multiple transactions are being done, we have the circuit breaker option
2. Community activates circuit breaker and protocol stops working for now
3. Protocol team upgrades the code and
4. Community removes the circuit breaker flow again

This flow will prevent a lot of Defi hacks/Rugpulls (but will still struggle with pool protection probably when there is a swap mechanism, most of the time you want that instant).

However for NFT projects with roadmaps the same can be done. People buy NFT's, but can burn the NFT and leave the project if the team doesn't deliver or they try to rugpull.

Foundry example contract showing the blueprint contract how to combat the different attacks against crypto users. This includes on-chain voting, but I want to change this in the future to off-chain signed voting and do a single request to get all valid votes (hopefully with Chainlink Functions, asked the team for Optimism/L2 support)

Phoenix/Postgres app that indexes the events of the contracts we want to monitor. Shows a real-time dashboard to monitor specific events, requests delays/block withdrawals or even circuit break if necessary.