Security is the key task for Qoda. Today we’re excited to announce a partnership with Halborn, a tier-one blockchain security company, widely recognized as one of the best security companies in the Web3 space.
Web3 security matters
Web3 is still young, and hacks can make it dangerous for both users and projects working in the industry. Crypto investors lost nearly $4 billion to hackers in 2022 according to CNBC. In 2023, things have been looking better so far, but security issues are still there: Atlantis Loans hack, Atomic Wallet hack, recent DeFi hacks in May, etc.
Even the big market players are not immune to hacks. That’s why security is still one of the key issues in Web3. The Qoda team understands and emphasizes the importance of security throughout our development process. As a result, we have procured Halborn to complete an independent audit on Qonstant’s administrative, market and collateral smart contracts.
What is a smart contract audit?
Smart contracts enable the functionality of our protocol. Each time a Qonstant user lends, borrows, or deposits collateral, smart contracts are used.
From a cybersecurity perspective, smart contracts should not contain critical errors or bugs that could lead to unauthorized behavior involving users’ assets. This is especially important because all operations in the blockchain are irreversible.
Qoda x Halborn
We are excited to announce Qoda’s partnership with Halborn, a firm with extensive experience in web3 security audits since 2019. Halborn has worked with big industry names like Polygon, Solana, Avalanche, Sushi, BAYC, and others. We are humbled to be part of this list and to work with the stellar team at Halborn on securing our partner's, Qonstant, smart contracts.
More details about the audit and its outcome will be announced in due course. Stay tuned!
For reference
About Qoda
The Qoda Ecosystem consists of partner applications working towards a shared vision of making great financial services accessible to everyone. These applications can operate on any blockchain network. Currently, Qoda operates the Qonstant protocol with the following features:
- On-Chain Orderbook
- Isolated Collateral-Tier vs Market-Tier Assets
- Fixed Interest Rate, Fixed Maturity Loans With Automatic Position Netting and Early Exit.
These features give users more control and flexibility over their crypto portfolio. Qoda’s users have the freedom to lend and borrow across a wide variety of assets fully on-chain.
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About Halborn
Halborn is an award-winning, elite cybersecurity company for blockchain organizations.
Security work never ends. Halborn serves as a third-party partner to continuously assess an organization’s most vital assets, drive maximum value and provide world-class cybersecurity consulting and execution every step of the way — far beyond smart contracts.