OINDAO V3 Audit Released!
Security for DeFi applications is more important than ever, we’re dealing with your hard earned assets after all. With this audit report by Certik, we can now confidently say that yes, it is secure, and yes, you can trust the OINDAO.
We’ve been working tirelessly these past few months to ensure that you get the most secure platform available. Our dev team has pulled countless all-nighters, and our partners has also been at our backs supporting us where they can.
Audit Components
The audit looked at OINDAO’s core smart contract, the OinStake smart contract in every angle imaginable. The components include everything from centralization risk, redundancies, to the safety of custom oracles and external dependencies.
All critical and major concerns were either 100% alleviated, with some components being categorized as “partially resolved” due to the unique nature of the OINDAO, and our progress with our partnerships and its objectives.
There are two issues still categorized as “Major”, but they are being and will fully be resolved upon release of the public OINDAO V3.
The two concerns and their solutions are:
- The centralization risk is mitigated by the unique multi-chain strategy of the OINDAO where we are less affected compared to traditional blockchain applications..
- The safety of custom oracles will be a non-issue on public release, as we will be moving to a well-known trusted third-party oracle.
The decentralized nature of our platform and unique undertaking in our approach to stablecoins and multi-platform compatibility provides its own strengths. The third-party oracles as well, keeping in tune with decentralization, will be one of the premier decentralized oracle providers. Again to keep in line with decentralization and transparency, this will be noted and announced.
Audit Report
The actual report can be found here, at the Certik website. We are confident in the OINDAO’s security, and thus went with the well-known, reputable Certik whose audits are all posted on their website.
With the report released, we are now on the final stretch to get our partners listed and publicly live on the OINDAO V3.
We have a whole host of content and exciting developments planned for the coming weeks, so stay tuned!
ABOUT OIN FINANCE
OIN is a decentralized multi-chain stablecoin issuance platform. With a robust set of features such as single-vault liquidations and own-brand-labelled stablecoins, we bring the turnkey stablecoin issuance solutions for all, including layer-1 partners.
For all the recent updates and progress, connect with OIN Finance and become a part of our community at:
