Protocol
Smart-contract custody
How USDT is held under vault contracts and what “custody” means in Bastion’s model.
1. Definition
Smart-contract custody means deposited USDT is governed by on-chain vault logic rather than an informal off-chain IOU. Rules for deposit, accrual, and withdrawal are expressed in code.
2. What Bastion controls
- Published interface and parameter configuration within stated roles
- Operational monitoring and emergency pause authority where implemented
3. What Bastion does not control
- Your wallet keys
- The Tether issuer or USDT reserves
- Base-layer chain consensus (Ethereum, TRON, BNB Chain)
4. Implications
Contract custody reduces certain counterparty ambiguities and introduces code risk. Always verify you are interacting with the official Bastion contracts and interface.