KnitFinance Security Audit Report on Smart Contracts by Armor Labs.

We are pleased to announce that the KFT token smart contract excellently passed the smart contract security audit performed by Armor Labs.

Here’s the link to the full audit report by Armors Labs:

http://knit.finance/docs/KFT_audit.pdf

A prominent blockchain security service provider to thoroughly assess and examine the security of smart contract and blockchain solutions. Armors Labs possesses more than ten years of experience in the building and safe operation of over 100 million Internet products.

We are building a true Multichain wrappers solution and it is important for us to secure the smart contract. All that to make the ecosystem more robust and resilient. The audit performed by Armor Labs assessed the code and the underlying structure of the Octopus Protocol. The results of the in-depth code audit were deemed as ‘Passed’ on 8th May 2021.

Auditing Process

Throughout Armor’s lab review process, care was taken to ensure that the token contract:

  • Implements and adheres to existing Token standards appropriately and effectively;
  • Documentation and code comments match logic and behavior;
  • Follows best practices in efficient use of gas, without unnecessary waste;
  • Is not affected by the latest vulnerabilities;
  • Whether the code meets best practices in code readability, etc.

Armor’s Lab Security Team follows the best practices and industry-standard techniques to verify the implementation of Knit Finance smart contracts. To do so, the code is reviewed line-by-line by their smart contract developers, documenting any issues as they are discovered. In summary, their strategies consist largely of manual collaboration between multiple team members at each stage of the review:

  1. Due diligence in assessing the overall code quality of the codebase.
  2. Cross-comparison with other, similar smart contracts by industry leaders.
  3. Testing contract logic against common and uncommon attack vectors.
  4. Thorough, manual review of the codebase, line-by-line.

Audit Summary

Vulnerability analysis

Highlights of the process

  1. Contract status achieved as Safe & Passed Status. There was no issue found.
  2. Contracts are well written and structured. All Parameters have been checked and are completely safe with no issues , so it is fully production-ready.

About Knit Finance

Knit Finance is a unique decentralized protocol that integrates its wrapped protocol across multiple chains, bridges, and real-world markets with yield, lend, trade, and margin services through smart contracts. KnitFinance bridges multiple non-Ethereum chains with wrapped tokens. Any asset can be leveraged within Ethereum DeFi and implemented into liquid lending and trading.

Knit Finance further lowers the entry barrier for traditional investors to participate in yield farming, lending, trading, and other financial services in the fast-growing DeFi ecosystem. By unlocking the value of real-world assets like stocks, gold, and fiat currencies, Knit Finance provides a way for the masses to shift towards DeFi while they enjoy the benefits of centralized finance.

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