BlockSec Documents

Ten Most Frequently Asked Questions About Phalcon Block

After having dozens of demo sessions with our potential users, we created this list of the top 10 most frequently asked questions about Phalcon Block. Check it out to see if there's anything you've been curious about. 👀

Q1: How does Phalcon Block operate technically?

Our system monitors every transaction and utilizes an AI-based risky transaction early detection algorithm to determine the risk level of each transaction, complemented by user-defined trigger rules. When a risky transaction matches these rules, a pre-set incident response strategy will be automatically triggered.

Q2: Can you describe some of the incident response strategies that Phalcon Block supports?

Phalcon Block is primarily intended for two types of users: protocol teams and LPs, and we have established different incident response strategies for each.
  • For project teams, in case of an emergency, Phalcon Block can automatically execute transactions to pause protocols and front-run attack transactions.
  • For LPs, the system enables the automatic withdrawal of assets before the protocol fails.

Q3: Can I customize my own response strategy? For example, withdrawing assets first and then executing swap operations. Is this possible?

Yes, users have the flexibility to customize their response strategies.
However, more complex response strategies may require the deployment of a smart contract, which can automatically execute when trigger conditions are met. For simpler response strategies, the protocol's internal functions can be called directly.

Q4: Writing smart contracts might be challenging for us...

No need to worry! If your response strategy is complex and requires deploying a smart contract, we can assist you with writing, deploying, and auditing the smart contract.

Q5: You mentioned that Phalcon Block supports pausing protocols automatically. What if the protocol uses a smart contract wallet?

If the protocol uses a smart contract multi-signature wallet like Safe{Wallet}, Phalcon Block also provides a compatible solution to ensure the automatic execution of authorized operations.

Q6: What is your system's false positive rate?

We pay particular attention to false positives since they not only disrupt project operations but also undermine intelligence credibility.
As mentioned previously, we classify each transaction into different risk levels. During the two years of operating Phalcon Block internally, 99% of the high-risk transactions reported were real attacks, with the false positive rate at around 1%. To be honest, no system can guarantee 100% accuracy of its alerts. We have minimized the false positive rate to the lowest possible level.
Furthermore, if users combine risk levels with self-defined trigger rules, the system's false positive rate will be zero.

Q7: You mentioned high-risk transactions several times. What do the different risk levels mean?

Our system can achieve millisecond-level transaction risk grading through an AI-based early detection algorithm. We classify transactions into low, medium, and high-risk levels based on the probability of them being an attack.

Q8: I think your system is very impressive. But, if I need to add protocols for monitoring, do I have to contact you each time? It would be too much trouble!

Our system is very flexible. Users can add the protocols they want to monitor themselves by simply adding the protocol's smart contract to the system.
Of course, our security experts are always available. If you need assistance, we can also help you with the setup.

Q9: Great! Which chains does the system support?

Currently, we support multiple blockchains including ETH, BSC, and Arbitrum. We also plan to support new chains based on users' feedback.

Q10: Got it! What about the pricing?

Phalcon Block operates on a subscription basis. We invite you to schedule a demo to experience the powerful features of Phalcon Block firsthand. We will also recommend the most suitable plan based on your specific needs.