Akiba Finance, a synthetic asset protocol built on the KAVA blockchain, recently underwent a comprehensive smart contract audit by EtherAuthority. The audit aimed to assess the security and functionality of Akiba Finance’s smart contracts, ensuring they operate as intended and are free from vulnerabilities.
Project Overview
Akiba Finance introduces a synthetic asset market on the KAVA network, allowing users to mint and redeem synthetic tokens backed by both underlying assets and Akiba’s native token, $KAWAII. A unique feature of $KAWAII is that 2% of every transaction is redistributed to holders in KAVA rewards, promoting long-term engagement and value accrual.
The protocol’s smart contracts encompass various functionalities, including minting, redeeming, recollateralizing, staking, and liquidity management. These contracts are built using Solidity and integrate with the OpenZeppelin library, which provides secure and community-audited components.
Audit Approach
EtherAuthority employed a combination of manual code review and automated tools such as Slither, Solhint, and Remix IDE to evaluate the smart contracts. The audit focused on identifying potential vulnerabilities and ensuring that all claimed functions were present and operating correctly.
Audit Findings
The audit concluded with a favorable assessment:
- Security Rating: The smart contracts were deemed “Secured,” with no critical or high-severity issues identified.
- Low-Severity Issues: Three low-severity issues were noted, along with several very low-level concerns.
These findings suggest that Akiba Finance’s smart contracts are robust and secure, with minor areas for improvement that do not pose significant risks.
Detailed Audit Report
For a comprehensive understanding of the audit process and findings, the full audit report is available in PDF format. It includes detailed analyses, code flow diagrams, and recommendations for enhancing contract security.
In conclusion, the audit reinforces Akiba Finance’s commitment to transparency and security in the DeFi space. By addressing identified issues and continuously monitoring contract performance, Akiba Finance aims to provide a secure and reliable platform for synthetic asset trading on the KAVA network.
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Audit Report in PDF: Akiba Finance Smart Contract Audit- Report
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