Decentralized finance also known as Defi is a system which is relatively new to our financial world. Products are available on a public decentralized blockchain and is open for anyone to use and bypasses the need of going through middleman like banks or financial brokerages. Users are not required to provide personal identification documents to use DeFi such as IDs, security numbers or validation of address is not necessary. Defi is a complete peer to peer financial system which makes possible for buyers lenders and sellers to interact with each other rather than going through a banking institution or middleman.

Defi uses advanced technology and protocols to follow the pattern of true decentralization. Most of the defi system is using open source technologies, advanced software and blockchain power to achieve the state of true peer to peer trading and financial achievement. Defi uses smart contracts to automate the financial transactions between buyers, sellers, lenders and borrowers. Despite the fact Defi has grown rapidly, its still in its early phase and is vulnerable to multiple hacks and fraud.

Problem Statement

Defi is growing everyday and is inviting more participants like Banks and financial institution to take part in the defi ecosystem. Defi infrastructure is still in the phase of infancy and is built out by blockchain enthusiasts/software developers, community members and regulation is fully absent. In the absence of regulations and security, hackers have exploited the system with massive hacks and breach of contracts. Individuals and Businesses have lost funds to hackers and fraudsters. Hackers have successfully robbed big crypto firms and exchanges by stealing millions and millions of dollars. For instance, EasyFi, a DeFi Polygon Network-powered protocol reported suffering a hack that saw over $80 million in funds stolen overnight and the hacked amount was transferred to a private address on the Ethereum network.

Proposed Solution
FissionSwap analyzes and identify the whereabouts of fraudulent transactions and then depending on fraud severity level, it attempts to block/freeze the transaction. Finally cancelling the transaction by reversing it back to the smart contract owners. Smart contract owners and token creators just need to insert small piece of FissionSwap codes into their system to get the benefits of our Anti-Hack protocol.

1. FissionSwap community team members will actively participate in designing and building anti hack bots, anti hack tools and custom APIs. FissionSwap provides a unique protocol for community members to join the pool and scan for suspicious transactions. Once fraudulent transaction is identified, the anti hack bot created by respective community members immediately freeze the funds and/or address. FissionSwap algorithm instantly deploys a fraud score to the particular transaction in question.

2. FissionSwap community Jury members decide on the outcome of the transaction. Depending on the fraud score, hack parameters, real time hacking news, exchanges collaboration, token owners, smart contract creators, transaction size and other factors, they decide to reverse the transaction, permanently freeze the receiving address or settle it. The community members play a vital role in sustaining the Anti-Hack protocol and for this reason they are rewarded. FissionSwap protocol works on proof of stake mechanism. Members will be staking FissionSwap(FSP) tokens to scan and verify hacks and fraudulent transactions. The amazing member who stops the fraudulent transaction first is the real winner.

How it works

Fissionswap procedure to reduce hackings

The member who recognizes the fraudulent activity first and stops it is entitled to get the reward. As more and more robust hack spotting bots, tools and APIs are created by the community members the system will only improve over time. The reward system plays as a incentive for community members to compete against each other to develop the best hack scanning tools and bots. Smart contract owners and token creators will only pay a fee after hack is successfully settled in their favor. Defi startups can use FissionSwap anti hack protocol to increase the trust of their token holders and protect themselves from losses and hacks. No doubt FissionSwap will increase the security of DeFi companies and token holders.

FSP token

FissionSwap Protocol token is a utility token and the symbol is FSP. The maximum total supply of FSP token is set to 215 millions. FSP token is to be used for staking purpose  and client fees inside our community ecosystem. As more and more organizations adopt Fissionswap software and products, the value of the FSP token increases over time. Please refer to Tokenomics as under:


Team Members