What UPLOCK can and cannot do with your wallet.

What UPLOCK never asks for

• Your seed phrase or private key.
• Permission to move any token other than USDG. Today UPLOCK works only with USDG.
• Permission to trade, swap or buy on your behalf.

Permissions, step by step

• Connect and sign a message. Proves the wallet is yours. Moves nothing and costs nothing.
• Deposit. You send a transaction yourself to put USDG into the vault.
• Withdraw. You send a transaction yourself to take your balance back, minus the 1% fee.
• Automatic mode (optional, in testing). You give the UPLOCK contract a USDG allowance with a limit you choose. The contract enforces your limit, your pause switch and one pull per sale. Revoking the allowance in your wallet stops it.

The limits you should know about

• The contracts are unaudited. No independent security review has been done. A bug could put deposited funds at risk. Start small.
• Administrators have powers today. On the contracts deployed now, a single administrator key can pause deposits or withdrawals, raise the withdrawal fee (up to a 10% maximum written into the code) and change where fees go. They cannot move your balance to themselves. We consider this too much power. The planned fix, not yet live: withdrawals could never be paused, the fee could only go down (1% maximum), emergency pauses would stop only new deposits and automatic transfers, administration would sit behind a multisig, and fee-address changes would wait two days in public. It needs new contracts and your approval to move, and the contracts would still be unaudited.
• You stay in control of automation. You can switch off, pause or revoke automatic transfers at any time, and administrators cannot stop you.
• Automatic pulls rely on an operator. The percentage and the profit calculation are worked out off-chain. The contract enforces your limit, not the percentage. If the operator were compromised, the most it could pull is the limit you set. That is why you should set a limit you are comfortable with.
• The amount is taken from your wallet balance when the pull happens, not from the sale. If the balance is gone, the pull fails.
• Coinbase. The optional connection is read-only and is used to see your trades and suggest an amount. It cannot move money out of Coinbase. Any automatic transfer comes from your own wallet's USDG balance, never from Coinbase. Keys, if added, are encrypted before they are stored.
• No affiliation. UPLOCK is an independent platform. It is not affiliated with, endorsed by or partnered with Robinhood. Its vault is currently deployed on Robinhood Chain, a public blockchain network.

Report a security issue

A security contact is being set up. Until it is published here, please use the contact page.