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How to ensure my deposited money is safe and not rug pulled?
Working on a project where users can stake their USDC in the system. However, I am concerned about the safety of the user's deposited money. How can I ensure that the money is not rug pulled by anyone?
I also want to know if the co-founders or anyone else has the power to take money from the pool that users stake. Can they access the collateral provided by the borrower?
Furthermore, I would like to know about the risks associated with staking USDC in the system. Are there any other potential issues that I should be aware of?
- Aave Protocol
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1Here are the risk mentioned and here
You lend and borrow not stake, so you deposit a supported token and someone can borrow this token too. If there is enough liquidity (not everything borrowed like for e.g ampl) you can withdraw your deposited tokens anytime.
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Aave is a decentralized non-custodial liquidity protocol where users can participate as depositors or borrowers.
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