XCarnival’s Flagship Product XBroker Receives Security Approval from Certik

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XCarnival's primary product XBroker passed audit firm Certik's security audit

The leading blockchain and smart contract security audit brand Certik announced that XCarnival’s primary product XBroker has successfully cleared the Certik Security Audit, which included a multi-level comprehensive assessment of the codes and the product functionality.

Certik’s security audit aimed at finding and mitigating any hidden vulnerabilities that could potentially hamper XBroker’s security or cause threats to the platform’s users. XCarnival, the DeFi synthetic asset aggregator, developed XBroker in a bid to enable users to use their NFTs as collateral to borrow funds in the DeFi ecosystem. As the platform will entail the involvement of funds of thousands of users, the security audit of XBroker was critical before the platform’s public launch.

Experts from Certik relied on a combination of static analysis and manual review to ensure they do not miss out on any major or minor threats that could jeopardize the platform’s security. They conducted a line-by-line manual review of XBroker’s code alongside assessing the code to ensure that it paralleled the industry standards and best security practices.

Furthermore, Certik experts scanned the code of XBroker’s smart contract to make sure the contract logic aligned with all the specifications and intended use of XCarnival. The firm also tested the smart contracts against common and uncommon attack vectors while comparing XBroker’s structure and implementation with leading DeFi projects.

Speaking of the security audit, XCarnival CEO, Leon Liu, said, “the security audit shows that we’re on the right track with our product development. It also helped us mitigate some major vulnerabilities and provided scope for further improvement of XBroker. Our technical team is working towards the recommendations made by Certik and we will continue to increase our overall security levels and ensure the safety of users’ assets.”

Upon completion of the assessment of XBroker, Certik certified the platform as having no vulnerabilities in the source code. During the assessment, however, Certik found two major and two minor vulnerabilities in the smart contract protocols. They resolved one of each of these vulnerabilities while acknowledging the other two. Besides, the experts also discovered four minor issues and four informational vulnerabilities and went on to resolve three of the minor issues while acknowledging the fourth.

Certik experts gave XBroker a security score of 94% and offered suggestions and recommendations to help improve the security of the protocol.

About XCarnival: XCarnival is a synthetic asset aggregator for DeFi that follows an everything is collateral motto, bringing on-chain exposure to crypto and non-crypto assets. It provides users with financial products that let them create their own synthetic assets. Through its primary product XBroker, XCarnival lets users borrow money with their NFTs with a simple pledge, eliminating the need to sell them. XCarnival is also building an ecosystem of products like Megabox and XArena that aim at unlocking liquidity in the marketplace and letting users turn their ideas into synthetic assets to earn money.

Contact Info:
Name: Caesar Liu
Email: Send Email
Organization: XCarnival
Phone: 61430797205
Website: https://xcarnival.fi/

Release ID: 89041752

Name: Caesar Liu
Email: Send Email
Organization: XCarnival