# Platform Risks

As with all of DeFi, there are several risks that our users and stakeholders need to be aware of.

### Liquidation Risks

An open trade position will be liquidated when either the user’s collateral cannot cover the margin fee ($5) or is lower than the maintenance margin (1% of Position Size). The keepers managing liquidations in LEVEL are [Pyth Network](https://pyth.network/) and [Chainlink](https://chain.link/).

### Smart Contract Risks

Decentralized applications have inherent smart contract risks through vulnerabilities in their codebase. At LEVEL, security is our primary concern. As such, we have undergone several audits from both [Quantstamp](https://quantstamp.com/) and [Obelisk](https://obeliskauditing.com/) in addition to having a live ImmuneFi Bug Bounty. The LEVEL DAO has full ownership and oversight over the security of the platform and can commission any further security-related actions.

{% hint style="info" %}
For more information, see [**Security and Smart Contracts**](/security-and-contracts/security-and-audits.md)
{% endhint %}


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