XCarnival, a synthetic asset aggregator for decentralized finance, saw its flagship product pass an important credibility test this week. XBroker, a product that allows users to borrow money while using NFTs as collateral, passed a security audit from noted firm Certik this week.
The security audit of XBroker was conducted in an effort to identify any underlying vulnerabilities that could threaten the safety of user assets, Certik said. Using a combination of static analysis and manual review techniques, Certik scanned XBroker’s codebase using a line-by-line manual review process followed by an assessment to ensure the code complies with all the current industry standards and best practices. They then assessed whether the contract logic meets all the specifications and intentions of XCarnival. Smart contracts were tested against common and uncommon attack vectors and their structure and implementation were compared with those of industry leaders.
The audit revealed there were no vulnerability issues with XBroker’s source code, Certik said. However, the smart contract protocols were found to have two major vulnerabilities and two medium vulnerabilities. One of each of the major and minor vulnerabilities was resolved and the remaining were acknowledged. Four minor issues were also identified later, of which three were resolved and one was acknowledged. Certik also identified three informational vulnerabilities with XBroker.
XBroker received a score of 94% by Certik experts along with suggestions and recommendations that will help improve the protocol.
“The security audit shows that we’re on the right track with our product development,” Xcarnival CEO Leon Liu said. “It also helped us mitigate some major vulnerabilities and provided scope for further improvement of XBroker. Our technical team is working towards the recommendations made by Certik and we will continue to increase our overall security levels and ensure the safety of users’ assets.”
XCarnival is also working towards reducing the level of centralization of its product, the company said.