Base Introduces ‘Pessimism’ To Detect DeFi Protocol Threats 

Coinbase team has been running Pessimism on Base since its mainnet launch, now it is launched as free and open source software.

Layer 2 network Base has introduced Pessimism, a security tool for monitoring and detecting threats in the decentralized finance (DeFi) ecosystem.

The novel open-source development from Base aims to enhance security for Base as well as the whole OP Stack and the Ethereum ecosystem, as it is compatible with all EVM chains. 

Coinbase has been running Pessimism since the launch of the Base mainnet, and the team has now open sourced the solution under an MIT license. It is now available as free and permissionless software to the public.

According to the announcement, Pessimism detects threats such as withdrawal enforcement or fault detection in OP Stack as well as events including balance enforcement or event emission in EVM chains.

“This lets us detect unauthorized or malicious events on the Base native bridge as well as the L1/L2 system contracts on Base,” reads the announcement, “Additionally, we can capture liveness failures for sensitive protocol roles like the proposer.”

Pessimism’s architecture is developed in three subsystems – ETL, Risk Engine, and Alerting, which all proceed sequentially to find potential threats. ETL transfers onchain data into application format, which is later read and assessed by the Risk Engine. 

The alerts are popped into the system following Risk Engine’s continued analysis and detection of suspicious activity. 

Base has also invited users and developers to suggest features or raise issues on Pessimism’s GitHub page.

Also read: Injective and Caldera Partner for inEVM Layer 2 Ethereum

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