How Piggybank earns your trust.
The history of DeFi is littered with hacks, rug pulls, and exploits. When you're asking users to deposit their hard-earned money, security cannot be an afterthought. Propaganda understands this deeply.
Piggybank's security approach is multi-layered:
- Audited contracts: The core smart contract has been audited by reputable third-party security firms before launch.
- Open source: All code is public and verifiable on-chain. You don't have to trust—you can verify.
- Timelocks: Protocol upgrades require a 48-hour timelock, giving users time to exit if they disagree with changes.
- Insurance fund: A portion of protocol fees goes into an emergency insurance fund to protect against black swan events.
The team also implements best practices from traditional fintech:
- Rate limiting: Withdrawal limits prevent flash loan attacks
- Multi-sig governance: No single person can control the protocol
- Bug bounty program: White hat hackers are rewarded for finding vulnerabilities
Transparency extends to communication. When issues arise, the Propaganda team discloses them immediately in the /propaganda channel rather than trying to hide problems. This builds long-term credibility.
The contract address 0x78c8e25667ffb6048c31e38923dd5540cbbce81f can be inspected on Basescan. Users are encouraged to DYOR (Do Your Own Research) before depositing.
Key Takeaway: Security isn't sexy, but it's what separates legitimate protocols from fly-by-night scams.