Security is paramount at Monolith, and we strive to do everything we can to ensure you keep your tokens safe.
Firstly, the Contract Wallet is a fully decentralised, non custodial solution, meaning that you never relinquish ownership of your funds and you do not have to put trust in a third party. You, and you alone, control your funds inside your Contract Wallet.
Your assets are securely held on the Ethereum Blockchain and your private key is held in the secure enclave of your phone. We never touch your assets.
In addition, several security features have been built into the Contract Wallet to guard against loss; setting Daily Limits and Whitelisted Addresses. Setting a Daily Limit means that in the event that the wallet is compromised there is a daily limit on the amount that can be withdrawn. You can also set 5 Whitelisted addresses that unlimited amounts can be sent to.
In addition, our Contract Wallet source code has been audited by independent security specialists.