EasyFi is pleased to notify the community that its security experts and auditors, Halborn Security, have completed a thorough audit of EasyFi’s lending protocol smart contracts. All contracts for the Polygon, Binance Smart Chain, and Ethereum Networks are included.
This audit represents the fulfillment of another phase in EasyFi’s strategy for a complete protocol launch this quarter, as part of the Q4 roadmap released on September 16th. Users may recall that it was previously reported that a protocol audit will be conducted in stages before to the full restoration of the EasyFi protocol.
This audit was carried out by security engineers with extensive experience in blockchain and smart contract security, as well as sophisticated penetration testing and ethical hacking of blockchain-based smart contracts.
- Ensure that all smart contract functionalities in the loan module are set up to perform as intended.
- Identify possible security concerns connected to smart contract and inter-contract features that might lead to externally crippling scenarios such as hacks, economic attacks, and other threats.
- Validate the complete collection of smart contracts relevant to the overall protocol’s loan operations and how they interact with other smart contracts in the system for expanded safety and accuracy.
EasyFi began a 360-degree examination of all of the lending smart contracts deployed across all three networks on which are now active. The following were audited as part of the lending smart contract audits:
- Analysis of the Smart Contract Codes in the Lending Module
- The Halborn Security team investigated all of the scripts and data structures connected to the loan module smart contracts on a large scale.
- This includes inspections for the industry’s best practices and quality standards, which EasyFi has established for development.
2. Penetration Testing & Vulnerability assessment
- Before the final launch, the security team will conduct a complete penetration test to look for any vulnerabilities or flaws.
- Halborn used a combination of manual and automated security testing, as well as some of the industry’s top security solutions.
3. Risk Assessment & Analysis
- EasyFi developed risk assessment methodologies using security best practices as a basis.
- EasyFi utilized well-established approaches to conduct a protocol-wide risk-scale based examination for any vulnerabilities and the potential impact they may have during contract execution.
Findings of the Audit
Since then, Halborn Security has supplied EasyFi with a comprehensive audit report, including all applicable penetration testing, as well as recommendations for corrective and risk mitigation activities, if required.
Halborn conducted a number of manual and automated security tests. In terms of the breadth of the loan protocol smart contract audit, this strikes a balance between efficiency, timeliness, practicality, and correctness.
EasyFi is scalability, composability, and adoption-focused universal layer 2 lending protocol designed for DeFi. It was created as an open and inclusive financial network architecture that runs on public networks and allows for end-to-end lending and borrowing of digital assets and related financial products. EasyFi is based on the principles of permissionless networks and smart contract automation.