Liqd, a platform for peer-to-peer lending and borrowing of NFTs, recently underwent a comprehensive security audit by Hacken, a leading Web3 cybersecurity auditor that specializes in blockchain security auditing for blockchain protocols and DeFi projects. The audit, which was conducted in August 2022, included a review of Liqd's smart contracts and associated source codes, as well as a comprehensive security assessment.

What is Hacken?

Hacken is a leading Web3 cybersecurity auditor that specializes in blockchain security auditing for blockchain protocols and DeFi projects.

The company has a team of experienced cybersecurity professionals who use a combination of static analysis and manual review techniques to conduct their audits. Hacken's audits are widely recognized as being among the most thorough in the industry and are highly respected by investors and other stakeholders in the crypto space.

The Results

• Liqdnft audit has received a score of 10 out of 10 in documentation quality, IT security, and architecture quality of the system.
• We scored 10 out of 10 in smart contract quality and security.
• We have received a score of 8 out of 10 in code quality.
• No security vulnerabilities were found in our smart contracts.
• Our two major smart contracts, i.e., UsdbLendingCode and UsdbLending have also passed rigorous performance testing and security and integrity testing with flying colors.

Quantitative Findings & Outcome

Find our audit report for more details.

After a stringent audit process, Liqd received a total score of 9.8 out of 10

‍Notably, the audit also did not reveal any critical issues.

Eventual outcome: No critical, high-severity, and similar issues.

Balance and its products have a proven track record of building innovative products that are robust and secure from FantOHM and its staking, wrapping, and bonding mechanisms to launching our own stablecoin USDB and very recently, the Liqd platform.

Importance Of Having Outstanding Results

The outstanding results of Liqd's audit by Hacken are significant! They demonstrate the platform's commitment to security and quality. This is especially important in the DeFi space, where user assets are at risk of hacking and other types of cyber attacks. By ensuring that its smart contracts and associated source codes are thoroughly audited and free of vulnerabilities, Liqd is providing users with a level of security and peace of mind that is not often found in the DeFi space.

Conclusion

The audit results for Liqd are a strong indication of the platform's commitment to security and quality. The platform received top marks in all categories which is of paramount importance in the DeFi space. The fact that no security vulnerabilities were found in Liqd's smart contracts is particularly noteworthy and gives platform users more peace of mind that their assets are safe!

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