Security measures

Anti Scam

Covalent will be used to bring transparency and anti-scam measures to wallets while preserving the privacy of our users. Within the picnic network, token swaps, sales and robust detailing on lending history will be available to users to ensure democracy of order flow.

Covalent data streams will be used to inform investors and holders about the historical data of PICNIC and BASKET tokens.

Additionally, those tokens held by the foundation, the team and those allocated for liquidity will be linked to their identifying data to boost trust and transparency in the network.

We want it to be entirely transparent so our community can see what our team and foundation does with their allocation.

Furthermore Covalent will be used to provide granular detail on the BASKET wallets to holders of PICNIC so they can track the progress and legitimacy of minted assets using a wide variety of heuristics and analytics. This transparency will create the safe environment required by traders and investors and further augment the agenda of picnic to promote trustless, democratic decentralised investment pools and the robust collateralization of NFT assets.

Insurance

Partnering with Certik will provide 100% of BASKET tokens with full insurance and guarantee reimbursement of funds to all holders in the event of a hack or breach of funds in a legitimate loss.

During the final investor round a minor proportion of funds raised will be allocated to the CertikShield pool to reserve this insurance for token holders. Further contributions to the pool will come from 1% of the network fees (0.01% of total). All revenue derived from activity in the pool will be reinvested.

The contribution to and provision of insurance is governed by the Picnic Token.

Auditing

Security audits on smart contracts will be provided by Certik throughout development and deployment. The ‘Skynet’ tools will be used to monitor and protect the network from ‘race conditions’, ‘re-entry’ and ‘attack bugs’. This will also provide a security score of all smart contracts on the Picnic Network which will be published for transparency and trust.

Audithor’s comprehensive auditing services will be deployed to provide another level of analysis on the security of Picnic Network’s smart contracts. This will be funded during the final investor round so that by the time of exchange listings all holders will have robust security and protection of their assets.

Bug Bounty Programme

Picnic Network will launch a highly competitive perpetual bug bounty programme aiming to recognise and compensate those who discover vulnerabilities. We invite white hat hackers of all abilities to be part of our comprehensive vulnerabilities framework. Transparency, security and insurance provision are at the heart of Picnic systems and will scale with growth of the network. The first bug bounty rewards will be announced ahead of the IDO ensuring trust and protection ahead of mass distribution.