As we continue to publish the findings of our blockchain and cryptocurrency industry research, the latest report we are ready to release is related to the Lido Insurance Fund project.
Lido is one of Statemind’s top clients and is a rapidly-growing liquid staking DeFi protocol. Lido lets users stake cryptocurrencies while utilizing the assets for lending, yield farming, and much more. As much as 30% of staked Ethereum is attributed to Lido’s liquid staking technology, demonstrating significant importance and adoption.
The in-depth, eleven-page report outlines the Lido Insurance Fund project and any related findings and recommendations based on those findings. The Lido Insurance Fund is a contract that serves as a store for funds allocated for self-insurance purposes. This contract must securely store funds and allow the owner to have full access to the funds, including the transfer of ERC20, ERC721, and ERC1155 tokens and ether.
Across all the audit areas, zero critical, high, or medium-priority vulnerabilities were discovered. Four informational bugs were reported to the Lido team involving easily fixable vulnerabilities that pose no significant threat to Lido users or funds.
The Lido Insurance Fund report is now the second audit released publicly by Statemind since our launch last month. In our first month, Statemind stopped what would have been the third-largest hack in DeFi history, ranked by total value saved. In addition to Lido, Statemind clients include Yearn.Finance and 1INCH.
Statemind is a leading blockchain security auditing firm with over 100,000 LoC of Solidity and Vyper experience combined, we have secured over $10B in TVL, and this number continues to grow with each discovery of a significant vulnerability.
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