FlatMoney
Rating
Score83.00
Sec. Infrastructure Overview
Recent Security Incidents
Incident
Amount Lost
Date
Past Audits
2
19
1 Jan 1
Past Audit Reports
Last codebase change was on: 1 Jan 1
- CompanyDateNumber of Vul FoundLink
- 1 Jan 10
- 1 Jan 10
Code Structure
0
41
0
Code Summery
Flat Money is a decentralized delta-neutral flatcoin protocol that allows users to deposit Rocket Pool ETH (rETH) to mint Flat Money (UNIT), designed to outpace inflation and preserve purchasing power. It offers leverage trading options through perpetual futures contracts, providing end-to-end rETH exposure. The protocol emphasizes the ETH Standard, viewing staked ETH as valuable collateral that appreciates with Ethereum' growth. Unlike traditional stablecoins, Flat Money is fully onchain, inflation-resistant, and avoids external financial risks. It aims to create a reliable financial alternative in an inflation-prone economy while maintaining capital efficiency and minimal exposure to other protocols.
Centralization
18 out of 20
No upgradability
FlatMoney has it\u0027s own frontend
2.00
Poor
Excellent
Admin / Governance Functions
Timelocks
Uses Timelocks
Pauseability
No pause
Admin Wallet
GenosisSafeMultisig
Admin can mint any amount of mint points to any address the points start a 12 month unlock tax (update unlockTime).
Module can be paused and unpaused by Admins
Mints locked points to the user account when a user deposits to the flatcoin.
Recommendations
UNIT can decrease in dollar value if funding rates are negative and protocol fees don't cover the losses, which is acceptable. However, if UNIT becomes net short and ETH increases 5x rapidly, UNIT's value could theoretically drop to zero. Though UNIT holders aim to be delta neutral, they may be up to 20% short under certain conditions. While the funding rate typically balances this, an extreme ETH price surge could still pose a risk, though this scenario is unlikely. Temporary restrictions on withdrawals and leverage positions occur when skew limits are reached to protect UNIT holders.
User Rating
No ratings
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