Disclaimer: The results shared herein were formulated after thorough research by Arcadia. The auditors did not find any issues in the Poolz smart contract. While we’re pleased to see the results, we realize that there is always room for errors and discrepancies.
Recently, Poolz launched an Ethereum-based (ERC-20) POOLZ token to complement the growing DeFi space and approach the liquidity in this increasingly tokenized world. In order to make sure that our platform and this new ERC-20 POOLZ token meets all the standards, Poolz went under an independent security audit of its smart contract by Arcadia. We are pleased to share that the results have been good and they did not show any concerns. This is great news for the team and our community.
What does audit mean?
Currently, two types of audits exist. In the first one, a qualified software engineer reads the code and looks for issues in it. This is important and helpful, however; humans are prone to making mistakes.
The other type is formal verification, wherein a computer program runs the code through a specially designed system to look for errors. This has an advantage over human audits in that it will never miss the mistakes in the code it is designed to look for.
For Poolz smart contract audit, Arcadia’s focus was to verify that the smart contract system is secure, resilient, and working as per its specifications. The audit activities can be combined in three categories:
- Security — Identify issues related to the security within each contract as well as within the system of contracts.
- Sound Architecture — Evaluate smart contracts architecture through the lens of established software and best smart contract practices.
- Code Quality — A complete review of the contract source code, with focus on correctness, readability, sections of code with high complexity, and quality of test coverage.
Why is it important?
Unlike traditional software, smart contracts can’t be changed or upgraded upon finding a problem, mainly because their code resides on the Ethereum blockchain. If the auditors find any bug in Poolz’s smart contract, it’ll be next to impossible to do anything about it. However, if the audit is completed without any errors, the code will remain immutable for life on the Ethereum blockchain.
Results of the Audit
Arcadia performed thorough testing of Poolz starting with the analysis of code design patterns to ensure the smart contracts are well structured. Also, the safe use of third party smart contracts and libraries were reviewed.
The results derived by Arcadia through their audit found no issues in our smart contracts. It’s great news for us as well as our community, and we are more ready than ever to go fully live.
Issue PLZ-7 tells us very important information, that absolute safety for the users will be achieved by auditing every token that will use the system, to avoid malicious tokens.
You can go through the audit results in more details by click on the link below:
Smart Contract Audit Link:
Poolz is a decentralized, swapping protocol for cross-chain auctions of Fungible and Non-Fungible (NFT) tokens, as well as OTC deals. The core code is optimized for DAO ecosystems, enabling startups and project owners to bootstrap liquidity for their crypto-assets, prior to listing. The Poolz platform has already integrated with multiple blockchains and is planning to add support for the 10 largest blockchain networks.