Security
Payment, Token and Blockchain Risks
- Funds move directly from the customer’s wallet to the merchant's wallet.
- Trelis payment links allow customers to view the public status of their payment on a public block explorer.
Trelis Payment Link showing the merchant name and a link to the public block explorer (public transaction view)
This list is intended to draw your attention to certain unusual risks. It is not intended to be a complete list of risks.
Token | Risks |
|---|---|
USDC | -Banking risks - on March 11th, USDC dropped below it's peg due to the failure of a bank holding a portion of backing USDC. |
Notes:
- USDC is backed by a reserve of cash and US treasuries held by Circle. USDC depends on the integrity of this reserve and of the audits of this reserve.
All blockchains come with risks including, but not limited to, smart contract (code) errors or validator (operator) collusion.
This list is intended to draw your attention to certain unusual risks. It is not intended to be a complete list of risks.
Chain | Risks |
|---|---|
Polygon | -USDC on polygon is not issued natively by Circle and not directly backed by Circle's reserved. Rather, it is backed by USDC on Ethereum via a proof of stake bridge that is controlled by a multi-sig. This multi-sig could be attacked or its members could collude in a way that results in lost funds. |
| -The polygon network has suffered downtime multiple times in the past, during which transactions cannot be processed. |
Notes:
- Polygon's transactions are approved by validators who must deposit Ether tokens as a bond against malicious behaviour. A single malicious entity controlling more than one third of all validator notes could stall the network, while an entity controlling more than two thirds could steal funds.
Last modified 9d ago