> For the complete documentation index, see [llms.txt](https://docs.fira.money/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.fira.money/security-and-risk/risk-framework/smart-contract-risk.md). # Smart Contract Risk ## Core Risk Fira operates as a blockchain protocol with inherent smart contract vulnerabilities. Code may contain vulnerabilities, bugs, design flaws, or unintended behaviors potentially resulting in complete asset loss. ## Risk Sources * Implementation errors * Faulty assumptions about external integrations (tokens, oracles, bridges, DEXs) * Market edge cases * Permissioning mechanisms * Governance decisions * Cross-contract interactions On-chain transactions are irreversible, meaning losses may be permanent. ## Mitigations ### Third-Party Audits Fira has engaged security firms (Sherlock, Spearbit Cantina, yAudit) for code review. Audits do not guarantee secure or defect-free code — vulnerabilities can persist undetected. ### Operational Controls The system may pause or restrict functions during suspected incidents. Tradeoffs include service disruption, reduced liquidity, and withdrawal delays. ### Recovery Attempts Fira may investigate incidents and pursue recovery actions, but any recovery is uncertain and potentially impossible. ## User Acknowledgment Users must recognize that: * Fira represents experimental and adversarial environments * The protocol may malfunction * Assets face total loss risk * No safety guarantees exist absent written commitments --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.fira.money/security-and-risk/risk-framework/smart-contract-risk.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.