ADD.XYZ Partners with Peckshield to complete full V2 Platform Audit
ADD.xyz are proud to announce that Peckshield have completed a full smart contract audit of our DeFi aggregation platform to a satisfactory standard.
Security within the industry of Decentralised Finance smart contracts is paramount to a successful platform and community.
Over the past two years, crypto users have endured numerous security breaches, hacks and exploitation of smart contracts amounting to hundreds of millions of dollars in losses. This is why the ADD team decided to engage with Peckshield, best in class & first on the mark in releasing situational reports and statements on exploits and hacks in progress. Peckshield consists of leading academics and auditors resident in China and the United States.
We have engaged with Peckshield over the past few months in anticipation of our V2 platform launch, which will be home to our lending, aggregated governance, staking, swap, mobile money and privacy solution.
Peckshield’s auditing process was the key reason in which the team decided to engage with Peckshield as a partner after having identified and liaised with many auditing companies within the space. In particular, Peckshield performed the audit according to the following procedure:
• Basic Coding Bugs: We first statically analyze given smart contracts with our proprietary static code analyzer for known coding bugs, and then manually verify (reject or confirm) all the issues found by our tool.
• Semantic Consistency Checks: We then manually check the logic of implemented smart contracts and compare with the description in the white paper.
• Advanced DeFi Scrutiny: We further review business logics, examine system operations, and place DeFi-related aspects under scrutiny to uncover possible pitfalls and/or bugs.
• Additional Recommendations: We also provide additional suggestions regarding the coding and development of smart contracts from the perspective of proven programming practices.
Over 18 smart contracts were audited by Peckshield’s highly professional auditing team with great proficiency, working alongside ADD’s dedicated smart contract development team. Changes needing to be made were identified to produce a fantastic result for the project moving forward.
Approximately 10 low to informational issues were raised and all were resolved during the audit and re-auditing process.
As part of Peckshield’s conclusion they state, “In this audit, we thoroughly analyzed the ADD.xyz V2 design and implementation. The system is a full-stack DeFi aggregator, plugging in multiple products and DeFi applications into one single platform, focusing on User experience, design, privacy and anonymity. During the audit, we notice that the current code base is well structured and neatly organized, and those identified issues are promptly confirmed and fixed.
Furthermore, we need to emphasize that smart contracts as a whole are still in an early, but exciting stage of development. To improve this report, we greatly appreciate any constructive feedbacks or suggestions, on our methodology, audit findings, or potential gaps in scope/coverage.”
We are now satisfied that ADD’s smart contracts, that will act as the base technology for our community and the platform over the coming months, have all of the necessary security provisions and auditing to ensure a secure environment for decentralised finance.
With this step forward, we are proud to announce that the final round of Beta-Testing Add.xyz’s V2 platform will commence on Monday 14th of December. Users will be invited privately to join user-testing and feedback submissions as part of a two week process.
You can read Peckshield’s summary, methodology, check lists, key finding & conclusion within the following report: shorturl.at/fnoIX
More information about Peckshield can be found here: https://peckshield.com/en#customers
For any questions please feel free to reach out to us on:
Website: https://add.xyz/
Telegram: https://t.me/ADDXyzpublic
Twitter: https://twitter.com/adddotxyz
Medium: https://medium.com/@Add.xyz
