OINDAO V3 Rust (NEAR) Audit Released!
One of the most important things for our users is security. With this in mind, we worked tirelessly to make the OINDAO V3 the most secure platform possible!
Audit Components
The audit brought to light inefficiencies through the process of porting over the EVM compatible version of our smart contract onto the Rust platform. All the issues discovered through the audit were resolved, as we wanted to make the first stablecoin launch (and all to follow) a secure asset that our users can feel comfortable with. Here are some of the issues found:
- The naming of different functions overlapped in a disconnected way. They could in theory affect each other, but not through normal use of the system.
- Oracles time interval raised a few issues, and with the NEAR protocol’s fast transaction times this was inefficient.
- Staking ratios, and other simple numbers were not properly aligned. This was a remnant from the test versions.
Thanks to the comprehensive and rigorous audit from Blocksec, we were able to find all security and inefficiency concerns, and addressed them in full. A point was raised regarding the centralized design of the smart contract which was acknowledged. It stems from the inherent need of the OINDAO system to have fail safes and remain solvent at all times.
Audit Report
The audit report can be found here, and a link will be amended here. Having done by the Blocksec Team, a team founded by top notch researchers and experts from both academia and industry they were able to also ensure the security of DeFi ecosystems, not just individual smart contracts.
As the report is released, we will not stop developing our product to deliver the best service to our users by ensuring them that there will be zero issues and 100% on security.
ABOUT OIN FINANCE
OIN is a decentralized stablecoin issuance and trading platform. With a robust set of features such as single-vault liquidations and own-brand-labelled stablecoins (e.g. USDO for OIN), we bring the best stablecoin solutions for all, including our layer-1 partners.
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