Sushi Swap has recently partnered with GoPlus Security in a strategic move to enhance the security of its platform and protect its users. This collaboration aims to integrate advanced security measures into the Sushi platform by leveraging GoPlus Security’s expertise in identifying token risks and threats.
The objective behind Sushi’s initiative is to ensure a safe trading environment by preventing fraudulent activities and strengthening the overall security framework. GoPlus Security is renowned for its comprehensive security analysis and insights, specializing in ERC20 tokens across different networks. Their Token Security API plays a crucial role in providing features like token risk assessment, transaction security checks, and detailed token information.
Through this collaboration, Sushi will be able to utilize these capabilities to identify and mitigate potential threats, thus safeguarding user transactions and interactions on the platform. The partnership enables Sushi to conduct detailed security assessments of new or unknown tokens using GoPlus Security’s Token Security API. This process is initiated whenever a user imports a token that is not listed in Sushi’s default token list. The API conducts a comprehensive security check, providing a risk rating and potential warnings for each token.
The results of these assessments are displayed to the user in a popup before any interaction with the token takes place. This ensures that all new tokens undergo rigorous security screening. This early detection mechanism is crucial in identifying high-risk tokens, such as honeypots and scams, before they can harm users. Notably, unknown tokens are marked with a warning symbol (!) behind their ticker, allowing users to access a detailed analysis that includes transaction security checks and risk assessments.
This process ensures that only tokens meeting stringent safety criteria are available for user interaction. The integration of GoPlus Security’s Token Security API also enhances the user experience by enabling informed decision-making. If a token is flagged as risky, users receive immediate alerts through popup warnings. This transparency empowers users to make more informed decisions about whether to proceed with transactions involving potentially risky tokens. By providing this level of detail, Sushi helps users avoid the pitfalls of crypto scams, such as rug pulls, which can result in significant financial losses.
Furthermore, this approach plays a vital role in preventing fraud by flagging potentially fraudulent tokens early in the interaction process. The comprehensive security checks and user alerts contribute to a safer trading environment, minimizing the likelihood of users falling victim to various types of crypto scams.
