⛓️Onchain activity

Advantages linked to blockchain

Transparency 📜

On Lobster, transparency and traceability of transactions are guaranteed through the use of blockchain. Every action performed on the platform, such as depositing, withdrawing, or providing liquidity, is recorded on the blockchain, meaning it becomes publicly accessible, immutable, and verifiable information.

To verify the authenticity of your transactions, you can use a blockchain explorer, an online tool that allows you to view in detail all the data recorded on the blockchain. There you can search the wallet addresses associated with your transactions and check the amounts, timestamps and statuses of each transaction.

Immutable nature 🔒

Additionally, the immutable nature of blockchain means that transaction data cannot be altered, further enhancing the security and veracity of information. This assures users that their transactions are permanently and indisputably recorded. This guarantee of authenticity, coupled with the decentralized nature of blockchain, helps build strong trust in the DeFi ecosystem, as no one can manipulate the data after the fact.

Ultimately, the ability to verify the authenticity of your transactions across the blockchain provides unwavering trust in the system, reinforcing Lobster's credibility as a reliable and transparent DeFi platform. Users can have confidence that their transactions are recorded honestly and irrefutably.