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🛡️ Security Model

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Security Model

MALGIST is designed with a non-custodial, permissioned, and defense-in-depth security model. This section explains how user funds, execution logic, and system upgrades are protected.

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1. Non-Custodial Guarantees

  • Users always retain ownership of their funds

  • Assets are held inside the UniversalVault smart contract

  • MALGIST:

    • Cannot withdraw user funds

    • Cannot move assets without explicit user action

  • There are no admin backdoors to user balances

✅ Users interact directly with on-chain contracts.

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2. Permission Boundaries

MALGIST enforces strict separation of responsibilities:

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Strategy Contracts

  • Read-only logic

  • Define allocation rules and execution steps

  • Cannot hold or move funds

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Universal Vault

  • Sole authority over user assets

  • Executes strategies in a controlled manner

  • Validates all adapter calls

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Protocol Adapters

  • Whitelisted via Adapter Registry

  • Each adapter is:

    • Protocol-specific

    • Scope-limited

  • Arbitrary external calls are blocked

🔒 No component has unlimited permissions.

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3. Adapter Whitelisting & Isolation

  • Only approved adapters can be executed

  • Each adapter:

    • Interacts with a single protocol

    • Uses predefined interfaces

  • If an adapter is compromised:

    • Impact is isolated

    • Other strategies remain unaffected

This reduces blast radius from external protocol risks.

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4. Upgrade & Control Model

  • Contracts follow a controlled upgrade path

  • Upgrade authority (if enabled):

    • Limited to governance or multisig

    • Used only for:

      • Bug fixes

      • Protocol support updates

  • No upgrades can:

    • Seize user funds

    • Modify user balances

⚠️ Upgradeability is transparent and auditable on-chain.

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5. Transparency & Auditability

  • All executions are:

    • Deterministic

    • On-chain

    • Publicly verifiable

  • Events emitted for:

    • Deposits

    • Strategy execution

    • Adapter calls

  • Users and auditors can independently verify behavior via block explorers

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Security Principles Summary

  • ✅ Non-custodial by design

  • ✅ Least-privilege execution

  • ✅ Adapter isolation

  • ✅ Transparent upgrades

  • ✅ On-chain auditability

➡️ Next: Risk Framework — understanding what risks remain and how users should evaluate them.

Previous🔐 SECURITY & RISKNext📊 Risk Framework

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