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Flash Loan Protection
Illuminati DAO is secure against the flashloan types of attacks due to a simple yet absolutely effective 2-step minting and redemption mechanism. When a user wants to mint or redeem a Synthetic Token, 2 transactions (2 steps) need to be performed:
2-step Minting
Minting Step 1 (tx#1): Mint Synthetic tokens
Minting Step 2 (tx#2): Collect (claim) Synthetic tokens minted in Step 1
2-step Redemption
Redemption Step 1 (tx#1): Redeem Synthetic tokens
Redemption Step 2 (tx#2): Collect (claim) $WBNB and $WBNBX tokens.
Last modified 12d ago