Phylax offers an open-source security protocol that embeds verifiable assertions into the base layer of decentralized applications (DApps) on Layer 2 networks, enabling real-time monitoring and interception of malicious transactions. This technology actively prevents hacks by providing developers with the tools to ensure their applications remain secure and operational, thereby enhancing user confidence in capital deployment.
Funding
$4.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
NFounders
Product
Problem
Decentralized applications on Layer 2 networks are vulnerable to exploits, leading to loss of user funds and lack of confidence in the security of the ecosystem. Current security measures often react to attacks rather than preventing them proactively.
Solution
Phylax offers a security protocol that allows developers to embed verifiable assertions directly into the base layer of their decentralized applications. This "credible layer" enables real-time monitoring and interception of malicious transactions before they can execute. By defining and enforcing rules about the protocol's state and behavior at the base layer, Phylax ensures that applications remain in a secure state. The system provides detailed information on the application's status, allowing for the creation of custom alerts using Solidity or a no-code interface. This proactive approach aims to give users greater confidence when deploying capital in decentralized applications.
Target Audience
The primary users are developers of decentralized applications on Layer 2 networks seeking to enhance the security of their protocols, as well as users of those applications who want increased confidence in the safety of their funds.
Features
- Embedding of verifiable rules and assertions into the base layer of Layer 2 DApps
- Real-time monitoring and interception of malicious transactions
- Customizable alerts definable in Solidity or through a no-code interface
- Proof-of-possibility feature allowing teams to verify the existence of exploits
- Open and programmable architecture for tailored security implementations