Best Practices Using Fordefi

Adopt best practices to make sure you’re getting the most out of the Fordefi platform.

We will continue updating these as we receive customer feedback.

Increase the Quorum Threshold

When setting up an organizational account, customers should have a minimum of one administrator. This is the minimum required to approve risky operations. Fordefi recommends defining at least three administrators in case one administrator is not available when approving these operations. This eliminates a single point of failure and requires voting on risky operations that may result in the transfer of funds. Learn more.

Grant rights: admins, traders, and viewers

It is important to differentiate between the types of user permissions. Users who are not part of the transaction policy approval process should be granted trader rights or viewer rights and not administrator rights. Learn more.

Complete the backup process

It is crucial for the organization to finish the backup process in case a catastrophic event happens where one of the parties loses all of its shares. Learn more.

Set policies

Policies automate the process of approvals for allowing transactions, blocking transactions, or sending transactions. There is no one-size-fits all approach to policy setting. Give careful thought to customizing policies to suit the needs of your organization and review them occasionally. Learn more.

Study the examples provided of typical scenarios and the policy rules set to enable them.

Revoke unwanted allowances

On occasion, it is recommended to review the allowances your organization has given to contracts. Removing unneeded allowances enhances your security hygiene. Learn more.