Why Trading on JOJO is Safe?
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Last updated
Last updated
In this article, we’ll cover the topic of funds safety and discuss the pros and cons of perpetual contracts in decentralized platforms and centralized exchanges involved in using JOJO.
When it comes to investment or trading, fund safety and security are always the primary concerns. At JOJO, we take the security of your funds seriously. Here are four reasons why your funds are safe at JOJO:
1. Partner with Sherlock, HackenProof, and BugRap for Bug Bounty Programs.
We have partnered with , , and to run bug bounty programs. These programs reward people who find and report security vulnerabilities in our code. This helps to catch potential problems before malicious actors can exploit them and ensures that our platform is always secure.
2. JOJO's code is open-sourced and transparent in Github.
Our code is publicly available on our , so you can see exactly what we're doing to keep your funds safe. This transparency ensures that we're always held accountable and helps build trust with our users.
3. JOJO does not hold your assets in custody
At JOJO, your assets are securely stored in the smart contract. This ensures complete transparency and traceability, helping to protect against fraudulent activity and default risks associated with centralized platforms.
With JOJO, you can confidently know your funds are safe and secure.
4. Sherlock, Certik, and SlowMist have approved JOJO.
JOJO's code has been audited by three of the most reputable names in the blockchain security industry: Sherlock, Certik, and SlowMist. This ensures that our code is free of vulnerabilities and that your funds are safe from hackers and other malicious actors.
Decentralized perpetual contract platforms have gained traction in the past few years and have emerged as a viable alternative to CEXs. Decentralized platforms offer a host of advantages when compared to CEXs.
Decentralization: One of the most significant advantages of decentralized perpetual contract platforms is that they operate on a decentralized network. This means a network of users manages the platform, and no central authority can control the platform's operations. At JOJO, users can always remain in complete control of their funds. There are no central intermediaries that hold your private keys. Users' funds are secured by smart contracts at all times when they are trading on JOJO.
Fairness of Order Books: Decentralized perpetual contract platforms use smart contracts to manage trade rules and validate transactions, providing a level playing field for all market participants. JOJO uses smart contracts that can't be modified by any central authority, eliminating the risk of manipulation by any single entity. This guarantees a fair and equal market for buyers and sellers, with no party having an unfair advantage. Smart contracts are also highly efficient, automatically executing trades when the set criteria are met. This means that traders can be confident in the fairness of transaction prices and that their orders will be filled accurately.
Transparency of Asset Custody: Decentralized perpetual contract platforms use the blockchain to keep a transparent record of all transactions, which makes it easy to track assets and ensure that the custody of the assets is transparent. At JOJO, all orders are confirmed on the blockchain, ensuring that every transaction is made visible, tamper-proof, and traceable- making it easy to track a user's funds.
In conclusion, JOJO offers significant advantages over CEXs by providing a fair market and transparent asset custody. By operating with smart contracts that execute orders automatically and recording transactions on the blockchain, traders can be confident in the integrity of their trades and the security of their assets. As the blockchain industry grows, decentralized perpetual contract platforms like JOJO may become the preferred choice for traders looking to reap the benefits of fair and transparent trading.