Originally published on EINPresswire.
NEW YORK and TEL AVIV, July 11, 2024 // – Today, Fordefi, an industry-leading MPC wallet purpose-built for decentralized finance (DeFi), is excited to announce the launch of its innovative new feature: Continuous Automated Response Engine (CARE). Fordefi now enables automated execution of pre-recorded transactions based on on-chain triggers, facilitating swift responses to both opportunities and threats. Fordefi CARE is a versatile tool for institutions that can be leveraged for on-chain risk management, optimizing trading strategies, and automating digital asset operations.
Josh Schwartz, CEO and co-founder of Fordefi, asserts, "Fordefi is at the forefront of shaping the web3 wallet experience, setting standards across security and usability. The Continuous Automated Response Engine (CARE) and our partnership with Hexagate, takes us to the next level in empowering institutions with the tools needed to manage risk for on-chain positions and optimize trading opportunities."
Fordefi is excited to launch this feature in partnership with Hexagate, a leading web3 security and risk intelligence firm, leveraging their ML threat detection and on-chain monitoring engine that boosts security and on-chain risk management. This collaboration ensures that clients benefit from advanced protection and seamless automation in managing their digital assets. With the Hexagate integration, clients can pre-record their transactions on Fordefi, generate an API key, and then set on-chain triggers directly with Hexagate, before being automatically notified for signing through Fordefi.
By leveraging a broad spectrum of on-chain triggers, Fordefi CARE offers powerful use cases for its clients. One key application is optimizing trading strategies by setting triggers for financial opportunities. For instance, when clients are in the final stage of a long trade and await the replenishment of a smart contract, the engine can automatically execute a pre-recorded transaction and send an alert for signing, as soon as the smart contract is replenished. The engine can also be triggered based on whale wallet activity, asset prices, and more, further enhancing a clients' ability to capitalize on on-chain opportunities quickly.
"We are thrilled to partner with Fordefi, a leader in secure self-custody solutions for digital assets. This collaboration combines Hexagate’s expertise in blockchain security and risk intelligence with Fordefi’s innovative MPC wallet platform, setting a new standard in securing on-chain assets. Together, we enable asset managers to maximize returns and safeguard all their on-chain assets and portfolios," said Yaniv Nissenboim, Co-Founder and CEO at Hexagate.
Another critical use case for institutional clients is on-chain risk management. Fordefi CARE can automatically respond to various threats detected by the Hexagate platform, including protocol hacks, asset depegging, cyber risks, economic risks, financial risks, and market disruptions. By setting predefined triggers, clients can protect their funds by automatically withdrawing assets in danger during exploits or pool compromises. Additionally, the engine enables clients to pre-record approval revocations and trigger them automatically, ensuring swift and secure responses to potential threats. This comprehensive functionality helps clients manage their digital assets proactively and strategically.
"Leveraging Fordefi's Continuous Automated Response Engine (CARE) alongside triggers generated by Hexagate, we've gained a competitive edge by swiftly capitalizing on smart contract-based triggers, positioning ourselves as early movers and overall optimizing our on-chain strategy. In addition, CARE further protects our positions against on-chain threats, " shared Lars Rensing, Founder of Tulipa Capital, highlighting the strategic advantage enabled by Fordefi's technology.
Fordefi CARE represents a significant advancement in institutional web3 wallets, offering clients robust capabilities in trading optimization, risk management, and operational efficiency. Fordefi is proud to lead the industry forward with its Continuous Automated Response Engine and establishing new standards for how institutions transact in DeFi.
About Fordefi
Fordefi’s MPC wallet is an all-in-one solution for digital assets management. Fordefi’s MPC wallet and security platform offers native connectivity to dozens of blockchains, self-serve policy controls, smart contract address verification, transaction simulation, and real-time risk alerts, alongside a full-stack developer suite of native APIs and SDKs. Fordefi is a financial technology and software company founded in 2021. For more information, visit www.fordefi.com.
About Hexagate
Hexagate is a blockchain threat prevention and risk intelligence solution powered by machine learning. It proactively detects and mitigates threats targeting smart contracts and on-chain assets. Hexagate provides real-time threat detection and prevention, risk intelligence, address screening, secure asset listing, and illicit funds analysis, ensuring a fortified defense against evolving threats in the digital asset landscape while optimizing operational efficiency. For more information, visit www.hexagate.com.
