Folks Finance completed its third audit by Coinspect

Folks Finance completes its third audit with Coinspect, one more milestone in the “Road to Mainnet” and the pursuit of achieving the highest level of security.

Soundness and security have always been in the core mission of the team. Completing three security audits and economic review ensures the highest standard for guaranteeing our users’ safety.

Coinspect audited the protocol source code beginning on February 14, 2022, and completed the review on March 7, 2022. The objective of the work was to evaluate the security of smart contracts.

The code review highlighted 3 issues in the smart contract; specifically on the staking functionality and reward limits. The errors have been corrected and resolved by the Folks Finance developers. The process ended with a final inspection by Coinspect verifying that the issues were properly addressed.

The reviewer found that Folks Finance’s smart contracts were designed well and the quality of the test suite was above average. The extensive documentation provided also contributed to the audit process.

The fully detailed Coinspect Report is publicly available on the company website.

About Coinspect

Coinspect is a team of professionals with more than 20 years of information security experience and working since 2014 in decentralized systems security. Coinspect has contributed to protecting key technologies and services of the decentralized world by auditing, reporting vulnerabilities, and proposing improvements for new blockchain implementations, smart contracts, Dapps, mobile apps, hardware wallets, smart contract compilers, DeFi systems, and exchanges.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Folks Finance

Folks Finance

The capital markets protocol for borrowing and lending built on top of the Algorand blockchain