Security Best Practices
User Security Best Practices
While Get Rich Quick™ implements protocol-level security measures, users must also take responsibility for their own security. This guide outlines best practices to help you protect your assets while interacting with the GRQ Protocol.
Wallet Security
Use Hardware Wallets
For significant holdings, use hardware wallets like Ledger or Trezor. These physical devices store your private keys offline, making them much more secure against online threats.
Secure Your Seed Phrase
Store your wallet's seed phrase in a secure, offline location. Never share it with anyone, and consider using a metal backup for protection against physical damage.
Use Multiple Wallets
Consider using separate wallets for different purposes: one for daily transactions, another for long-term holdings, and a third for interacting with new or untested protocols.
Transaction Security
Verify Contract Addresses
Always double-check contract addresses before interacting with them. Use official sources like the GRQ documentation or official social media channels to verify addresses.
Review Transactions
Carefully review all transaction details before confirming, including the recipient address, amount, and gas fees. Be especially cautious with approval transactions that grant spending permissions.
Start Small
When interacting with a new protocol or feature, start with small amounts to test the functionality before committing larger sums.
GRQ Protocol-Specific Security
Understand Protocol Phases
Familiarize yourself with GRQ's expansion and contraction phases. Understanding how the protocol responds to market conditions will help you make informed decisions and avoid potential losses.
Monitor Your Positions
Regularly check your staked positions, especially during volatile market conditions. Be prepared to adjust your strategy based on protocol phases and market movements.
Receipt Token Management
If you're using receipt tokens for PoL integration, remember to unstake them from Berachain's Reward Pools before attempting to withdraw from GRQ pools. Failure to do so will prevent you from accessing your original tokens.
Common Security Threats
Be aware of these common security threats in the DeFi space:
Phishing Attacks
Be wary of unsolicited messages, emails, or websites asking for your wallet information or seed phrase. Official team members will never ask for your private keys or seed phrase.
Fake Websites and Apps
Always access the GRQ Protocol through official links. Bookmark the official website and double-check URLs before connecting your wallet.
Malicious Approvals
Be cautious when approving token spending. Unlimited approvals can give contracts complete access to your tokens. Consider using approval management tools to revoke unnecessary permissions.
Summary
Security is a shared responsibility between the protocol and its users. By following these best practices, you can significantly reduce your risk while interacting with the GRQ Protocol. Remember to stay informed, remain vigilant, and never invest more than you can afford to lose.
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*Results may vary. By "may vary" we mean "won't happen."