Yieldly launches its first Liquidity Provider (LP) pools on Algorand next week, finishing off the year with a bang. Better yet, this critical piece of DeFi functionality is now fully audited and approved by elite award-winning blockchain cybersecurity firm, Halborn. Yieldly’s LP pools will add a missing piece to the ecosystem’s DeFi puzzle. Thus cementing Yieldly’s commitment to scaling DeFi and revolutionising the way people conceptualise value on Algorand.
Before we dive into how Yieldly’s LP pools work, first an overview of Halborn’s security audit.Halborn Audit Now Complete Scope
Security is the number one priority for Yieldly. At a time when we are (once again) launching disruptive DeFi on Algorand for users being priced out by other networks, it’s more important than ever to engage an external party to rigorously test that tech. In addition to having Runtime Verification audit Yieldly’s TEAL 5 multi-token staking codebase (read last week’s audit blog), Yieldly also engaged Halborn.
Halborn conducted a security assessment of Yieldly’s TEAL 5 multi-token staking smart contracts. Their objectives were as follows:Ensure that the smart contracts function as intended Identify potential security issues with the smart contracts Security Audit Outcome
When assessing the likelihood of a security incident occurring and its likely impact, Halborn used a rating system of 1 to 5, with 1 being the least concern, and 5 being the highest level of security risk. Testament to the Yieldly team’s technical excellence, Halborn found:0 Critical Findings 0 High Priority Findings 1 Medium Priority Finding (subsequently solved by Yieldly) 0 Low Priority Findings 4 Informational Comments
This stellar outcome is an important milestone in Yieldly’s LP launch plans. It gives us even more confidence as we continue to deliver on an already aggressively tech-forward roadmap.
Halborn’s full audit report of Yieldly’s multi-token sta...