💪🏽WE ARE BEEFING UP SECURITY 💪🏽

With big movement comes waves (and big wallet energy).💪🏽

Hello to our unFederalReserve community! If you were at our AMA last week, then you already heard the exciting news about our expansion and the big moves we are making every day behind the scenes. As we beef up our protocol, community, and lenders, there are a few things you should be aware of.

Coins Are Moving

🕵️ 🔎 Blockchain detectives may soon see that we are moving large amounts of tokens around from our official wallets. First off: Funds are SAFE!

These token movements are being transferred from the current Gnosis multi-sig wallet to our new FireBlocks MPC (Multi-Party Computation)-based multi-sig wallets. We wanted to make you aware of the waves along our voyage- you are in the splash zone — and may notice 🌊🌊🌊 as a result of the treasury movements.

We are committed to being transparent with token movements between leadership-held wallets and the security protocols in-place. We have incorporated Fireblocks to provide custody, manage treasury operations, access DeFi, mint & burn tokens, and manage their digital asset operations. Please review the extensive list of features that will enable us to now deliver for our Tradfi clients: Here.

We will be allocating and moving tokens around the various wallets in the next few weeks, and will announce when this movement is complete.

Here are the wallets and specific transactions in question:

Additionally, we are in the process of implementing new MPC-based multi-sig wallets. The reason for this is to increase security across the board. Multi-sig gives our leadership and users more confidence that a single actor can’t act maliciously with our funds. Similar to a multi-sig configuration, a private key within an MPC-based solution is never created or held in one single place — preventing theft of digital assets.

💪🏽MPC TOP FEATURES💪🏽

  • Removes single point of compromise for private keys
  • Is operationally flexible, and inherently designed to address today’s challenges
  • Frees digital asset ops by maintaining the same blockchain wallet (deposit) address — removing the need to create a new wallet, move any funds, or provide others with a new address

Read more about MPC and multi-sig wallets on Fireblocks: Here.

We have created a set of Fireblocks Transaction authorization policies for each individual workspace. Each policy can have a very sophisticated set of spending limits, approval thresholds, and transaction movements that need to go through rigorous permission and change controls, thus improving security and scaling the treasury management part of the business. Learn more: Here.

Wrap It Up For Me

Even if this doesn’t seem like the MOST exciting update in the world, never fear. We touched on the challenges of creating and running a crypto project that needs to prioritize and enforce security on our previous AMA on our Discord. TLDR: it’s an extremely difficult task, but our team is more than up to the challenge. One reason we have made SO much progress in the years of this project is because our leadership team has an accomplished past in traditional finance.

What’s Next?

Shortly after the release of this article, unFederalReserve leadership and members of the management team will be moving amounts to new highly secured wallets in an effort to increase our overall security goals.

Join Us: On the ReserveLending platform

💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽💪🏽

Although the material contained in this website was prepared based on information from public and private sources that Residual Token, Inc. believes to be reliable, no representation, warranty or undertaking, stated or implied, is given as to the accuracy of the information contained herein, and Residual Token, Inc. expressly disclaims any liability for the accuracy and completeness of information contained in this website.

This article, our website, social media posts and other public forum materials are distributed for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. The information, opinions and views contained herein have not been tailored to the objectives of any one individual, are current only as of the date hereof and may be subject to change at any time without prior notice. Residual Token, Inc. does not have any obligation to provide revised opinions in the event of changed circumstances.

All investment strategies and investments involve risk of loss. Nothing contained in this website should be construed as investment advice. Any reference to an investment’s past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.

Any ideas or strategies discussed herein should not be undertaken by any individual without prior consultation with a finance, tax or legal professional for the purpose of assessing whether the ideas or strategies that are discussed are suitable to you based on your own personal objectives, needs and risk tolerance. Residual Token, Inc. expressly disclaims any liability or loss incurred by any person who acts on the information, ideas or strategies discussed herein.

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‘Credit vs Cash’ spot market fintech using blockchain protocols. Great liquidity access. Instantaneous settlement. $ersdl #DeFI #middlemarketdefi #uniswap

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unFederalReserve

unFederalReserve

‘Credit vs Cash’ spot market fintech using blockchain protocols. Great liquidity access. Instantaneous settlement. $ersdl #DeFI #middlemarketdefi #uniswap

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