In light of recent exploits, security in oracle services has become an important element in the overall health of the DeFi ecosystem and beyond. Attackers have found ways to take advantage of minor issues in these services to perform flash loans that have resulted in up to $7 million in losses. What’s worse, these incidents have been recurrent.
This is why some providers have proactively sought better solutions. Razor Network is made up of a community of stakers that provide data to smart contracts including information about lending, stable coins, DeFi projects, and more. The project has recently partnered with SpiderDAO in an effort to provide better security and privacy solutions to Razor’s decentralized oracle service.
Founded in 2020, SpiderDAO is the industry’s first hardware-enabled DAO that bundles multi-layered hardware and software tools to create a whale-resistant network. It provides a provable, open-source, decentralized VPN, as well as adding a multi-layer privacy solution.
Its partnership with Razor will make the platform more robust by enhancing its security and speed for users. A key element in providing reliable information. More so, RAZOR holders will now be able to access SpiderVPN freely, including the platform’s Liquidity as Utility program. They will be able to receive staking benefits through SpiderDAO by simply following SpiderDAO on Twitter, tweeting “#SpiderVPN”, and joining the SpiderDAO Telegram channel.
The Liquidity as Utility program is thoroughly explained by the SpiderDAO team.