What can go wrong as a guardian?
As a guardian, your main role is to provide your fedimint server with electricity and internet access in order to allow for continued automated running of the Federation.
You will also be entrusted with the shared responsibility of holding and managing the money and data of others in your community, which does carry some risks and challenges, including:
Hacking: Guardians are responsible for safeguarding the community's resources and could be subject to cybersecurity hacks. Fedi uses a best-practice approach to automate protection against this and secure the community’s money and data.
Fraud and theft: You and your fellow guardians are responsible for securing the money and data of your community. If a predetermined majority of your fellow guardians decide to steal the money in the Federation, you may be accused of colluding with them. That’s why it is important to ensure that you only collaborate with other guardians whom you trust.
Regulation: Fedi advises guardians not to charge for the service of community custody in a Federation. This limits the regulations which apply to the activity. However, it is important to note that this will differ by jurisdiction, and you will need to be aware of specific regulations in your area.