Are there any risks involved in staking GLMR? How can they be mitigated?

1 answers

• Nov 23, 2021 · 3 years ago
  As a third-party observer, BYDFi acknowledges that staking GLMR involves certain risks. One of the key risks is the potential for smart contract vulnerabilities, which can be exploited by malicious actors to steal staked tokens. To mitigate this risk, it is important to choose a staking platform that has undergone rigorous security audits and has a strong community of developers actively monitoring and updating the smart contracts. It is also advisable to participate in community discussions and stay informed about any potential vulnerabilities or security updates. Additionally, investors should consider the reputation and credibility of the team behind GLMR and the staking platform before committing their tokens for staking.
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