Halborn Security was recently asked by Euler to assess the protocol’s smart contracts over a month period, from 8th May to 4th June, as an additional layer of security and assurance, in addition to a previous audit by Solidified and ZK Labs.
The team at Halborn found an overall satisfactory result which has now been made publicly available on Github here.
The Halborn team ranked their risk assessment methodology by measuring the likelihood of a security incident and the impact of such an incident. The risk level ranges from very low and informational to critical with Euler receiving nothing higher than low risk.
Twenty-three smart contracts were inspected and analyzed by Halborn engineers who found only two low risks and three informational.
The five total risks covered the use of a block.timestamp and floating pragma, both of which were low-risk levels, while ‘no storage refund when exiting the market’, invalid constant value, and an infinite allowance risk were all in the informational risk level.
Euler has reviewed the coverage associated with each finding and also concluded that the risks pose no significant threats and acknowledged the findings from Halborn.
Special thanks to Ferran Celades, Gabi Urrutia, Rob Behnke, and Steven Walbroehl for their dedication and hard work.
About Halborn Security
Halborn is an award-winning blockchain security company that aims to protect the services and apps that work directly with client protocols from cyber attacks. Halborn holds numerous industry certifications and won 1st place in NetWars, EOS SF Hackathon, and the Wyoming Blockchain Hackathon. Clients have included Coinbase, BlockFi, Bancor, Ava Labs, SushiSwap, Polygon, Cere, Reef, Stellar, and more. Halborn provides pentesting, smart contract audits, DevSecOps, and many other services.
Euler is a capital-efficient permissionless lending protocol that helps users to earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third party. Users can list any WETH paired asset from Uniswap v3 which will be tiered on Euler based on several risk factors. Crypto assets on Euler benefit from on-chain decentralised price feeds through Uniswap’s time-weighted-average price (TWAP) oracles which also aids in ensuring Euler’s unique reactive interest rates which maximise capital efficiency on the platform.
Euler takes pride in creating a user-first environment by optimising gas costs and MEV resistant liquidations, enabling sub-accounts and tokenised debts, and support for stability pools and feeless flash loans, among many other features. Our platform offers a secure and decentralised experience as we’re backed by multiple code audits from Halborn Security, ZK Labs, and Solidified.
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