Bolide Finance Strengthens Security Measures through Partnership with Sayfer
Tel Aviv, Israel, October 26th, 2023, Chainwire
Bolide Finance Partners with Sayfer for a Security-First Approach
As a leading yield automation and liquidity management platform in the booming DeFi space, Bolide Finance offers attractive APYs to users who provide liquidity across multiple protocols. However, the project recognizes that long-term sustainability requires strong security.
By completing a smart contract audit with Sayfer, Bolide sets itself apart with a security-first approach.
The audit analyzed Bolide’s smart contracts for vulnerabilities and logic errors. Checks were conducted for issues like reentrancy, gas attacks, access control, and more. Auditing is a must-have in the DeFi space, where exploits cost investors billions annually.
The audit focused on Bolide’s core smart contracts like the MultiLogic, StatisticsBase, SwapGateway, StorageV3, and more. The audit methodology was white box followed by SCSVS v1.2, examining the inner workings of the contracts. Over 100+ hours were spent auditing Bolide’s codebase.
The audit allowed Bolide to identify and fix several moderate risk issues.
Sayfer has set up real-time transaction monitoring and alerts to detect abnormal activities. The monitoring system flags suspicious transactions like large transfers to/from unknown wallets. This way Bolide security team can respond quickly to potential exploits and mitigate them before they occur.
For DeFi yield farmers, Bolide’s emphasis on security stands out. With billions in value locked across farms, exploits threaten user funds and DeFi growth. Bolide’s audit, proactive measures, and transaction monitoring serve as a model for the space in prioritizing user protection.
Bolide co-founder, 0x Bid: “ With security being the paramount focus of Bolide protocol, we take immense pride in implementing robust measures to safeguard our platform and users. Quarterly, we conduct 2-3 comprehensive audits to thoroughly test and validate our smart contracts, ensuring their safety. We are grateful for the invaluable assistance of the Sayfer team in fortifying the security of the Bolide protocol.”
