FLUIDEFI Enhances DeFi Market Confidence with Revolutionary Smart-Contract Auditing and Rating Feature

Jan 19, 2023 | Business

 Blockchain Hub Davos, hosted by CasperLabs and CV Labs, is taking place in conjunction with the World Economic Forum. It brings together a diverse, global audience of business and government leaders to facilitate discussions, foster new partnerships, and explore how blockchain is a key driver of the Fourth Industrial Revolution.

Blockchain Vulnerabilities

As large businesses start pushing more code onto blockchains, they attract more attention from hackers. Recent attacks have involved hundreds of millions of dollars, often due to coding errors or security omissions.

Smart-Contract Audits

Smart-contract audits provide a risk assessment of the underlying software of decentralized tokens and other blockchain-based assets.

Until now, audits have been performed by specialized teams, who charge a hefty fee to check whether a contract is hack-proof and keep the audit report a secret. While the number of companies that perform smart-contract audits continues to grow, the average investor doesn’t have access to their conclusions about a token’s security before buying the asset. Yet traders want to see these audits because the reports help ensure that the smart contracts governing these assets are free from vulnerabilities and other security issues that could put their funds at risk.

Along with token vulnerabilities, FLUIDEFI will now offer customers a proprietary risk score that captures how exposed any liquidity pool is to rug pulls, back doors, or ownership swaps. The factors taken into account include:

– a comprehensive security scan of smart-contract code for over 5000 tokens,
– risk ratings and vulnerability counts for over 3000 at-risk tokens,
– a scan for over 7000 vulnerabilities by Smart Contract Weakness Classification (SWC),
– export of scanner vulnerability results (for security experts and developers), and
– a complete audit and assessment of a token’s security features and robustness.

About FLUIDEFI
FLUIDEFI aggregates and analyzes on-chain data and converts it into valuable, actionable insights and ratings for institutional customers, helping to reduce risk in the innovative DeFi space. The accuracy of the data generated by FLUIDEFI’s patent-pending algorithm is essential for all financial functions, including investment, accounting, audits, and taxes. FLUIDEFI’s unmatched accurate data is powering the DeFi industry.