Risks
Your use of the InterPool protocol involves various risks, including, but not limited to, losses while digital assets are being supplied to the InterPool protocol. Before using the InterPool protocol, you should review the relevant documentation to make sure you understand how the InterPool protocol works
The InterPool protocol is a decentralized and open source piece of software operating on the blockchain. No individual, or institution has control over it. The protocol is controlled by the INTP token holders (the development of the DAO has been added to the roadmap). There are many different websites and applications that provide access to the protocol, however, these websites simply provide an interface and do not control the protocol in any way.
AS DESCRIBED IN THE INTERPOOL PROTOCOL LICENSES, THE INTERPOOL PROTOCOL IS PROVIDED ”AS IS”, AT YOUR OWN RISK, AND WITHOUT WARRANTIES OF ANY KIND. No developer or entity involved in creating the InterPool protocol will be liable for any claims or damages whatsoever associated with your use, inability to use, or your interaction with other users of, the InterPool protocol, including any direct, indirect, incidental, special, exemplary, punitive or consequential damages, or loss of profits, cryptocurrencies, tokens, or anything else of value.
This section will help you understand the the types of risk you are taking what has been done to mitigate them and how to mitigate them further.
Protocol Dependency Risk
The InterPool Protocol uses several other protocols. Therefore the first type of risk is the risk that these other integrated protocols can fail.
Specifically by using InterPool you are also taking on the risks of using the Ethereum and Polygon networks, the collateral you are depositing, and the yield service.
To mitigate this risk the protocol is only integrated with highly reputable and well secured protocols.
Smart Contract Exploit Risk
The second type of risk is specific to InterPool. The risk is that there could be some sort of bug or exploit in the smart contracts that run the InterPool Protocol. This is a risk with any product on Ethereum or Polygon. Depending on what the bug or exploit is, a nefarious person may be able to take some or all of the funds stored in the InterPool Protocol. Here’s what we’ve done to mitigate this risk.
Professional, third party smart contract auditing (added to the road map). InterPool will hire companies to professionally review and audit the smart contract code for any bugs or exploits. These auditors will produce reports with their findings. As InterPool will continue to grow we’re committed to continuing to pay for audits however, it should be understood that at any given time, 100% of the code base will not be professionally audited.
Bug Bounty program. InterPool will offer payment for reports of any bugs in the smart contracts. If someone was to discover a bug, this is a way for them to responsibly disclose it to us and be paid rather than exploit it.
All the smart contract code is open source, meaning it is publicly readable by anyone. At first this may sound strange but it actually makes the protocol more secure as anyone can review it for bugs and submit a bug bounty.
Before we even give our code to auditors we also do extensive internal testing.
Wallet Loss Risk
This risk doesn’t have anything to do with InterPool but we wanted to mention it. Using InterPool requires you to use an Ethereum wallet that supports Ethereum and Polygon apps. If you permanently lose access to this wallet, you will not be able to recover your funds. Different wallets have different recovery mechanisms. It’s important for you to know what those are and be able to recover your wallet. Argent Wallet is one example of a wallet with good recovery methods.
Last updated