Deflect Joins Forces With CertiK To Ensure Smart-Contracts Security

Deflect Joins Forces With CertiK To Ensure Smart-Contracts Security

NEW YORK, 26/02/2021 — We’re happy to announce that we’ve engaged in a strategic partnership with Deflect, an innovative white-label platform for tokenomics and smart-contracts. The scope of the audit for our initial clash includes a series of EVM-based smart contracts, more specifically: DeflectPoolDEFETH.sol, DeflectPoolDEFRFI.sol, DeflectPoolRFIETH.sol, Deflector.sol, and IDeflector.sol.

Use-Case Profile

Deflect Protocol is an industry-first solution that plans to bring multi-network scalability, funding potential, and gas-less redistribution of tokens, all under one platform via the PRISM of Integrations.

Deflect enables DeFi startups with white-label solutions and provides a multi-network launchpad service for any EVM compatible network to create custom tailored smart-contracts with tokenomics functionality around liquidity provision, yield farming, and compounding interest-based lock-ups.

Deflect brands as an Integration Platform and Launchpad that provides solidity expertise, smart-contract-oriented tokenomics, as well as ecosystem mechanics advisory, ecosystem maintenance, and support to third-party projects. That is able to facilitate launches for projects into any compatibility network of their choosing.

The Ecosystem Smart-Contract support empowers initiatives with building projects with their own native smart-contract ecosystems while providing a LGE Platform For new projects as a fair-launch program that also gives DeFi communities across multiple platforms and EVM compatible chains and networks a safer alternative to Pre-Sale mechanisms.

Code Review & Auditing Process

The initial review was conducted between January 19th and January 25th 2021, by CertiK security engineers Sheraz Arshad, and Alex Papageorgiou.

The CertiK Professional Services team assigned to Deflect reviewed the code implementation for a variety of smart-contract-oriented functions, effectively going through the most significant parts of the codebase responsible for the core functionality of the system, as pointed out in the project’s statements.

A comprehensive examination will be performed, utilizing Static Analysis and Manual Review techniques. The auditing process focuses on the following considerations:

  • Testing smart contracts against both common and uncommon attack vectors.
  • Assessing the codebase to ensure compliance with current best practices and industry standards.
  • Ensuring contract logic meets the specifications and intentions of the client.
  • Cross-referencing contract structure and implementation against similar smart contracts produced by industry leaders.
  • Through a line-by-line manual review of the entire codebase.

A total of 37 findings were addressed on the vulnerability summary, the vast majority of which were informational (26), while only 8 minor and 3 medium issues were identified. No major or critical issues were found during the auditing process, and the Deflect team alleviated all issues highlighted by the CertiK Professional Services team, pointing towards a well-written codebase by the team’s engineers.

You can review the full audit here.

About Deflect

Deflect Protocol is an industry-first solution that brings unlimited scalability, funding potential, and gas-less redistribution of tokens, all under one platform.

Deflect enables DeFi startups with white-label solutions and a launchpad for custom smart-contracts with tokenomics functionality around liquidity provision, yield farming, and interest-based lock-ups.

For retail investors, Deflect provides DEFLCT, an ERC-20 token that accrues value over-time, instead of sitting in one’s wallet without generating any interest, or even worst, fluctuating in unpredictable meassures.

Learn more about the DeFi protocol here.

About CertiK

CertiK is an edge-standards cybersecurity firm founded by Computer Science professors hailing from Yale and Columbia University respectively, aiming to improve the security and correctness of smart contracts and blockchain protocols on a global scale.

Leveraging a seasoned team of multi-skilled engineers and security auditors, CertiK’s mission is to apply a plethora of high-level industry practices, covering the entire spectrum of static, manual, and dynamic analyses, in order to ensure each project subject to a formal audit is up-to-date with modern security standards while offering their services to the broader DLT community.

Over the past few years, CertiK has serviced more than 100 top-shelf blockchains, DeFi protocols, among other complex and/or custom smart contracts, including but not limited to Binance, Tera, Bancor, Shapeshift, and Blockstack.

Consult with one of our experts at bd@certik.io

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