Phylax Systems provides a security layer where white-hat hackers can submit proofs of hacks and vulnerabilities. The platform utilizes an off-chain protocol called PhEVM to validate transactions against assertions established through smart contracts.

Phylax Systems

Phylax Systems | 323 followers on LinkedIn. Open-source security protocol for securing DApps on L2 networks, by actively censoring hacks on the underlying network. | Not all transactions should be finalized.

Engineering Leader and Principal Architect

William S.

crypto dev

Jacob Stenum Czepluch

It's time we put Lazarus Group out of business

Odysseas Lamtzidis

Operations @Phylax Systems

Evangelos Ntomprozis

Frontrunning helps mitigate some attacks but faces challenges such as private mempools which make it impossible to frontrun the attacks. Similarly, next-block mitigation can be helpful for damage control, but it is ineffective when the hack occurs all in one block. The Credible Layer is proactive and embedded in the base layer, making it nearly impossible to circumvent and ensuring that action is taken before a hack, not during or after.

Enough politics. Back to what matters: The Credible Layer. Many people discovered @phylaxsystems last week and we have seen many great questions. Here's one with an answer from our DevRel @_czepluch. Q: How does the Credible Layer differ from existing hack prevention approaches like frontrunning and heuristic analysis? A: The Credible Layer differs in several key ways: Φ It operates at the base layer rather than the application level, allowing for more comprehensive security that can't be circumvented. Φ Instead of trying to detect all possible vulnerabilities, it uses assertions to define invalid states that must be avoided. Φ It creates economic incentives for both prevention and reporting of potential exploits, as well as proving when the assertion runner didn't prevent a "hacked" state. Φ Unlike frontrunning solutions, it can't be bypassed using private mempools. Φ Unlike heuristic analysis, it doesn't suffer from false positives that could block legitimate transactions. Ask more questions like this and join the conversation on discourse: https://lnkd.in/gjFfDA3G

This is your chance. $130K - $170K + 0.2% - 0.5% Calling all Senior FE Engineers. We just raised $4.5mm to build the Credible Layer, a hack prevention protocol and we are growing the team. We are a group of audacious doers and dreamers who are on a warpath towards a more secure on-chain future. Read the full Whitepaper here if you want to get excited: https://lnkd.in/g_gfrhZW A little about the role: As a Senior Front-End Engineer, you’ll play a critical role in shaping the user experience of Phylax’s products. You’ll be responsible for building high-quality, responsive web applications, collaborating closely with our UX/UI designers, back-end developers, and product team to ship new features and ensure seamless performance. This is your opportunity to get in at the ground level and have a real impact. If you are interested fill out an application below and we will be in touch. We also have a $6,000 referral program, so if you know someone who would be a good fit, speak up! The program is linked below. Come join us, let's take down the Lazarus group. JD: https://lnkd.in/gxFtU_Yx Referral program: https://lnkd.in/gx99manp

Today, we are announcing our $4.5m pre-seed, led by Figment Capital and Nascent with support from Robot Ventures, Hash3 , Bankless Ventures , Breed VC, and Publicworks. We will use these funds to develop The Credible Layer, a hack prevention protocol. On August 1st, 2022, Nomad lost $190 million in one of crypto’s largest hacks—a turning point for Odysseas Lamtzidis . Conversations with users, founders, and engineers revealed a sobering truth: Many can’t sleep for fear of being hacked; some have even left the space entirely. We’re not just losing the best builders and teams to hacks—we’re losing them to the fear of hacks. Full announcement: https://lnkd.in/gUUMGxdb It should be obvious at this point, that one of the primary hurdles to adoption en masse is the BILLIONS of dollars of hacks that occur every year. Current solutions, like fuzzing, next block mitigation, and frontrunning protection, are valuable but by no means a silver bullet. They patch the problem—they don’t solve it. We need security that can’t be bypassed and is verifiable. This is what Phylax Systems is on a war path to deliver. We’re building the Credible Layer, a proactive security layer that allows dApps to define hack-prevention rules and communicate them to the block builder, specifying states they want to prevent. The assertion enforcer checks each transaction against these rules, stopping hacks before they happen. It is non-invasive and is functionally a coordination mechanism between dApps and the base layer, keeping dApps sovereign and secure. The Credible Layer is also fully transparent—anyone can view a dApp’s security rules and verify their enforcement. dApps pay fees for this validation, ensuring their assets remain safeguarded. Regulators have scrutinized our industry due to high-profile hacks, and while their intentions may not always be entirely impartial and fair, this particular concern is valid. It’s up to us to prove that security isn’t an afterthought but a core component of every crypto project. As Nic Carter said: “We’re long overdue for moving DeFi hack mitigation from reactive to proactive, and Phylax is leading the charge.” We don't want to scar the mainstream as soon as we onboard them. We need security that makes them feel safe. We intend to make this a reality with the Credible Layer. To get the full picture of the Credible Layer, read the Whitepaper (we just released it): https://lnkd.in/g_gfrhZW And if you are interested in joining the waitlist for the Credible Layer please reach out here: https://lnkd.in/gPpFXk69

You might have heard about Phylax Systems, but what are we building? Here is a 70-page whitepaper to explain the Credible Layer, a new type of hack prevention protocol: https://t.co/qjvs3OfUqm Join the Discourse here: https://lnkd.in/gjFfDA3G This is not a peer-reviewed paper, just a look into what we are building (still working on things here and there. We hope it fosters discussion and generates questions.

Crypto is at a crossroads. The infrastructure is here, institutional capital is entering the space through ETFs, and layer-2 networks like Ink and Base are confirming that the future of finance will be on-chain. We haven’t solved the real issue that’s preventing mainstream adoption: security. Over $10 billion has been lost in high-profile hacks. When regulators and the media cast doubt on crypto, it is not because they think the gas fees are too high, or because a given chain is too slow. It's simply because we have had too many high-profile hacks. No network has been immune to this. It happens everywhere, all the time. Institutional capital is knocking, but it won’t step inside until we can guarantee a safe environment for their investments. Security is no longer just a technical issue—it’s the gateway to trust. Without it, the future of decentralized finance remains uncertain. Decentralization alone doesn’t mean much if users can’t trust their assets are safe. The entire premise of decentralization—giving users control over their assets—falls apart if those assets can be stolen in a hack. Security is the foundation on which decentralization must stand. To earn the trust of the mainstream and therefore open the door to general adoption, we need to solve this issue quickly. If we don't, we risk the old systems co-opting the new. We need to show that we can self-regulate by preventing the loss of user funds. With more L2s and networks launching than ever, security presents an opportunity to stand out. The first network to meaningfully solve security for its users and dApps will have a serious moat—attracting real capital, users, and growth.

Security needs a rethink. We've got ideas: ◼ Building security at the base layer is a way to create a system that can not be bypassed by hackers. ◼ The concept of Counter Factual Applications could radically simplify smart contract logic while enhancing security, in other words, designing how a system shouldn't work to define how it will. ◼ Social Slashing: protocol architecture that relies on non-economic (legal) slashing against already trusted actors to deter malicious behavior in block space. This doesn't increase trust externalities but builds new primitives on the time-tested trust assumptions the industry has already made. 57 pages coming soon; Odysseus's Whitepaper on the Credible Layer dives deep ↓

Introducing Phylax Systems. Our mission is to solve crypto security. The Credible Layer—a hack prevention protocol, embedded in the base layer is our attempt at this goal. By making security proactive and verifiable we’re not just protecting assets; we aim to restore crypto's credibility. Full story here: https://lnkd.in/gRqqeaxz We all know the blockchain industry has a problem: hacks. With more than $10B lost in preventable hacks, this issue is a barrier to mainstream adoption and trust. Currently, there are many solutions, but whether it's next-block mitigation or front-running, most can be circumvented (via a one-block hack + dark mempools in the above cases). The one thing that can't be circumvented is the base layer. Credible Security is what Phylax Systems is bringing to market. Credible Security = Provable + Embedded Trusted = Observable + Application-level Provable: dApps know best how to define a hack for their system. We enable them to set those measures and allow everyone to verify if the dApp has the necessary assertions in place to prevent hacks—and whether it has already been compromised. Embedded: Integrated into the base layer, making it nearly impossible to circumvent. It’s inherently proactive, preventing attacks before they happen rather than responding after the fact. Observable: No cryptographic proof of security—just social consensus. Users can’t prove what’s protecting their funds or whether a hack has occurred; they rely on word of mouth and trust rather than verifiable security. Application-level: Security can be bypassed because it operates on the same layer of the stack as the hackers, users, and dApps. Security solutions here are inherently reactive, responding only after an issue occurs rather than preventing it upfront. We are focused on making Credible Security a reality with the Phylax Credible Layer. A new protocol for embedded, provable security. The Credible Layer enables dApps to embed and verifiably enforce their rules in the base layer, enabling the world to deploy capital confidently. The core of the protocol enables dApps to define these states transitions as assertions and then users prove whether they are possible (aka a vulnerability exists) or have happened (aka a hack went through). Finally, dApps can pay network participants (e.g. block builders) to enforce these assertions, ensuring that no transaction will land which violates them. The Credible Layer relies on economic/social slashing to keep the block builder playing by the rules. If the block builder knowingly confirms a hack transaction every user of that chain and every other will know. In essence, transactions must adhere to extra validity rules, depending on what contracts they interact with. These rules are defined by the dApps themselves. If you are interested in Credible Security and leveraging the Credible Layer, contact us here: https://lnkd.in/gPpFXk69 Onward Φ

We have been building quietly. phylax.systems

If you know a protocol engineer or are one yourself 👀👇 Phylax is not just another crypto startup. We're a tech company on a mission to solve Web3's biggest headache: security. We want to solve security so that crypto can win. And this isn't just a job: from day 0, you'll be crafting the core of our Credible Layer. It's not just another product; it's a whole new primitive for securing crypto apps. You'll be the mastermind: think smart contracts, tokenomics, and protocol strategies that'll make other engineers' heads spin. If you can dream in Solidity and have nightmares about EVM restrictions, you're our kind of weirdo. Bonus points if you can talk assembly and yul in your sleep. If you are ready to join the next thing in blockchain security, apply below: Apply here: https://lnkd.in/ge9njX7d

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PHYL

SYSTEMS:PHYLAX

Phylax Systems