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Balancer and Certora Launch Security Accelerator

BAL CRYPTO_NEWS

We are pleased to announce that Balancer has joined forces with top security auditor Certora by launching the Balancer Certora Security Accelerator which will help projects building on Balancer increase their code security. The Security Accelerator will provide code reviews and grant access to Certora’s formal verification Prover. This alignment will strengthen the soundness of the code base and streamline the go-to-market process for upcoming projects.

 

“The launch of the Balancer and Certora Security Accelerator aims to strengthen the security of Balancer’s growing builder ecosystem through its Smart Contract tooling. The Security Accelerator gives projects additional access to security reviews and software tools which makes building on Balancer a more viable option” — Fernando Martinelli, Balancer Labs CEO & Co-founder

With the increased possibilities to integrate DeFi protocols in composable ways, the focus on secure code is the highest priority. A maturing DeFi ecosystem drives up code complexity and increases ramp-up costs for audits. Due to an overwhelming demand, waiting times for professional security audits are often several months long. To mitigate wait times and increase security accessibility, Balancer and Certora are offering a way to minimize these drawbacks.

Cetora uses its automated Prover technology to routinely audit codes and check for smart contract bugs. This technology reduces the margin for error found in manual audits. Additionally, unlike manual audits, which are only valid for a specific code version, Certora’s Prover can be integrated into the CI pipeline and ensure that code updates do not introduce bugs.

 

“Certora has been working extensively with Balancer and is deeply familiar with its smart contracts and inner workings of the Protocol. This familiarity allows Certora to deliver a quick turnaround on a security review while keeping costs reasonable.” — Mooly Sagiv, CEO Certora

 

The Balancer and Certora Security Accelerator offers the following advantages:

  • Two weeks of manual code review by Certora engineers familiar with Balancer’s codebase
  • Set up and introduction of Certora’s formal verification Prover
  • $10.000 USD worth of credits for Certora’s formal verification Prover
  • Integration assistance by Balancer on code functionality and business logic
  •  

Closing Thoughts

Through increased accessibility of smart contract reviews with Cetora, Balancer’s Security Accelerator will help to ensure DeFi security with the scope for sustainable, scalable, innovative growth that is highly competitive in the industry. The Security Accelerator offers a well-rounded solution for projects looking to build on Balancer Protocol. If you’re a project looking to build on Balancer, get in touch with the Balancer business development team or apply for a grant to build on Balancer.

About Balancer:

 

Balancer is a community-driven protocol, automated portfolio manager, liquidity provider, and price sensor that empowers decentralized exchange and the automated portfolio management of tokens on the Ethereum blockchain and other EVM compatible systems.

To learn more, please visit https://balancer.fi/.

 

About Certora:

Certora Prover builds on 30 years of academic research and hundreds of academic publications which pioneered the area of Formal Verification. The team combines academic leadership, industrial strength and Blockchain expertise. Certora’s reports from previous engagements with balancer are available here: https://www.certora.com/wp-content/uploads/2022/02/BalancerApr2021Short.pdf https://www.certora.com/wp-content/uploads/2022/02/BalancerApr2021.pdf.

*Code review pending a prior code complexity assessment by Certora. Credits are valid for 6 months after joining the Security Accelerator. Fee amount is subject to change

 

Source : medium.com/balancer-protocol/balancer-and-certora-launch-security-accelerator-420d3b839a37 by Orb - November 15, 2022

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