DegenPrime
  • Introduction
    • DegenPrime
  • Protocol
    • Overview
    • Double D's
      • Diamond Hands 💎🙌🏽
      • Degenerates 📈🚀
  • Structure
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    • Liquidations
    • Solvency Checks
    • Degen Account separation
    • Asset whitelisting
    • Token exposure protection
    • Protocol gatekeeping
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    • 24-hour Time-Locked Withdrawal
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  1. Security

Degen Account separation

PreviousSolvency ChecksNextAsset whitelisting

Last updated 2 months ago

Removes single point of failure

Increases exploit difficulty

Each is its own separate wallet. This means that not DegenPrime, but every holds custody over their account. This keeps 1) all funds separate for each Degen's own strategy, and 2) makes it increasingly difficult for attackers.

As discussed in DegenPrime's , each Degen Account is a Dedicated Smart Contract. When a Degenerate opens a Degen Account, a new wallet is created. This is the wallet used by Degens when using DegenPrime, and all deposits and borrowed funds are sent there. This can all be seen, and tracked, on-chain using the address of the Degen Account.

With each Degen Account being its own wallet, this prevents any funds from being commingled. Degens are truly in control of their own strategy. If they trade their way to glory, they have the records to prove it. If they get liquidated instead, well... we won't judge (out loud).

The other major advantage of this is that it makes it much more difficult for attackers to gain access. Instead of having to crack a single vault with everyone's funds, every account acts as its own safe.

Degen Account
Degen
Structure