Bitsliced
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  • ⚡Bitsliced Docs
  • 📝Whitepaper
    • Vision
    • Summary and company profile
    • SLICED token architecture
      • SLICED function
        • Utility of the token
          • Trade NFTs
          • Mint and join channels
          • Metaverse
          • 🎁SlicedPad
          • 🎁Promotions
          • 🎁Exclusive events
      • Security features of SLICED
        • Features of the token
          • Programmatic Security
          • Freezable (Pause)
          • Function to Blacklist Wallet Addresses
          • Burnable
          • Capped
          • Polygon - Layer 2 network characteristics
    • Tokenomics
      • Token allocation
      • Token sale and use of funds
      • Vesting schedule
    • Sliced app
      • Sliced NFTs
      • Features
        • Gamification of trades
        • High Profile Channels
        • Community
        • Swapping
        • Passive income NFTs
        • SBTs (Soulbound tokens)
        • Real Estate
        • Slices (Fractional Ownership)
          • Our solution for slicing NFTs
        • Smart cashback utility combined with crypto
        • Charity NFTs
      • Treasury incentive program
      • Ecosystem fees
      • How are we connecting Real Estate to the blockchain?
    • Core Team
    • Roadmap and development
      • Milestones
    • Revenue stream model
      • Revenue streams for Bitsliced
      • Revenue streams for Users
    • Legal Disclaimer
    • References
  • 🕵️Audits
    • SLICED Token
  • 💬Litepaper
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  1. Whitepaper
  2. SLICED token architecture
  3. Security features of SLICED
  4. Features of the token

Programmatic Security

PreviousFeatures of the tokenNextFreezable (Pause)

Last updated 2 years ago

We decided to eliminate the minting function from the code, one of the backdoors that hackers use to gain control over a crypto token. This has a double advantage: hackers can't use this specific way of gaining control over the tokens, and the creators behind Bitsliced can't create more tokens to trigger inflation. Every market participant knows in advance that there are only 250 Million tokens. Transactions can be tracked on the Polygon blockchain, which is publicly viewable.

Another feature is that the tokens were distributed over multiple wallets that are also publicly viewable. These wallets have a multi-signature requirement to move or release tokens. This is another good measure to protect the community against malicious activities, since it requires multiple team members to physically "sign" into the wallet. These activities are logged and can be audited by third parties.

Programmatically speaking, two more functions would protect token holders against malicious activity. One is the freeze function available in the smart contracts, and the other is the possibility to blacklist wallets. This gives the issuing entity the option to freeze all token movements to investigate hacker attacks at scale. The smart contracts can be paused, which will stop the hacker(s) from selling the tokens. Once we stop the contract, we can track the wallet down and mark it as blacklisted.

The final layer on top of the technical implementation of diverse coding functions is the regulatory processes we must follow due to Swiss Banking Regulations. We are voluntary members of a self-regulatory organization (SRO) recognized by the Swiss Financial Market Supervisory Authority (FINMA). Bitsliced GmbH is a member of the VQF (see our registration number: https://www.vqf.ch/en/)

Following regulatory mandates gives SLICED an added security, which further adds more trust to the token itself and the underlying economic model.

An independent third party has audited all these features. The consultancy group Quillaudits conducted audits on over 500 smart contracts with a market cap of 15 Billion dollars. For more information, see here:

Please check our published audit here:

📝
https://audits.quillhash.com/smart-contract-audit
2MB
BitSliced Smart Contract Audit Report - QuillAudits.pdf
pdf