Singapore, Aug 16, 2021 (GLOBE NEWSWIRE) – Leading blockchain and smart contract security audit brand Certik announced that XCarnival’s main product, XBroker, has successfully passed the Certik security audit, which included a comprehensive multi-level assessment of codes and functionality. of the product.
Certik’s security audit aimed to find and mitigate hidden vulnerabilities that could hamper the security of XBroker or threaten users of the platform. XCarnival, the aggregator of DeFi synthetic assets, developed XBroker with the aim of enabling users to use their NFTs as collateral to borrow funds in the DeFi ecosystem. As the platform will involve the involvement of the funds of thousands of users, the security audit of XBroker was essential before the public launch of the platform.
Certik experts have relied on a combination of static analysis and manual review to ensure that they are not missing any major or minor threats that could compromise the security of the platform. They performed a manual line-by-line review of XBroker’s code in addition to evaluating the code to ensure it met industry standards and security best practices.
Additionally, Certik experts scanned XBroker’s smart contract code to ensure that the contract logic matched all of the specifications and intended use of XCarnival. The company also tested smart contracts against common and rare attack vectors while comparing XBroker’s structure and implementation with major DeFi projects.
Speaking about the security audit, Leon Liu, CEO of XCarnival, said: “The security audit shows that we are on the right track with the development of our products. It also helped us mitigate some major vulnerabilities and made XBroker even better. Our technical team is working on the recommendations made by Certik and we will continue to increase our overall security levels and ensure the security of user assets.
Following the evaluation of XBroker, Certik certified the platform as having no vulnerabilities in the source code. During the assessment, however, Certik found two major vulnerabilities and two minor vulnerabilities in smart contract protocols. They fixed one of each of these vulnerabilities while recognizing the other two. In addition, the experts also discovered four minor issues and four informational vulnerabilities and then resolved three of the minor issues while recognizing the fourth.
Certik experts gave XBroker a security score of 94% and offered suggestions and recommendations to help improve the security of the protocol.
About XCarnival: XCarnival is a synthetic asset aggregator for DeFi that tracks an all-collateral currency, bringing on-chain exposure to both crypto and non-crypto assets. It provides users with financial products that allow them to create their own synthetic assets. Through its core product XBroker, XCarnival allows users to borrow money with their NFTs with a simple pledge, eliminating the need to sell them. XCarnival is also building an ecosystem of products like Megabox and XArena that aim to free up liquidity in the market and allow users to turn their ideas into synthetic assets to make money.