Sushi Swap has recently announced a strategic partnership with GoPlus Security in a bid to enhance platform security and protect its users. This collaboration will see advanced security measures integrated into the Sushi platform, leveraging GoPlus Security’s expertise in token risk assessment and threat identification.
The primary goal of this partnership is to create a secure trading environment by proactively preventing fraudulent activities and strengthening the overall security framework. GoPlus Security, renowned for its in-depth security analysis and insights, specializes in ERC20 tokens across different networks. Their Token Security API plays a vital role in providing features like token risk assessment, transaction security checks, and detailed token information.
Through this collaboration, Sushi will be able to utilize GoPlus Security’s capabilities to identify and address potential threats, ensuring the protection of user transactions and interactions on the platform.
The partnership will enable Sushi to conduct detailed security assessments of new or unknown tokens using GoPlus Security’s Token Security API. Whenever a user imports a token not listed in Sushi’s default token list, the API performs a comprehensive security check, offering a risk rating and potential warnings for each token. Users are presented with these results in a popup before engaging with the token, ensuring that all new tokens undergo thorough security screening.
This early detection mechanism is crucial in identifying high-risk tokens, such as honeypots and scams, before they impact users. A notable feature is the introduction of a warning symbol (!) behind the ticker of unknown tokens, allowing users to access detailed analysis including transaction security checks and risk assessments. This process ensures that only tokens meeting stringent safety criteria are available for user interaction.
By integrating these advanced security measures, Sushi aims to enhance user experience through informed decision-making. Immediate alerts via popup warnings are provided to users if a token is flagged as risky, enabling them to make informed choices regarding transactions involving potentially risky tokens. This transparency helps users steer clear of crypto scams like rug pulls, minimizing the risk of financial losses.
Furthermore, this collaborative approach aids in fraud prevention by identifying potentially fraudulent tokens early in the interaction process. With comprehensive security checks and user alerts, Sushi aims to create a safer trading environment, reducing the chances of users falling victim to various crypto scams.