As of September 2020, more than $9 billion digital assets are locked up in Ethereum for trading, insurance, payments, lending and financial derivatives. However, the number of DeFi security exploits is rapidly increasing along with the amount of stolen digital assets. Once the smart contract of a DeFi project is launched to the production environment, a static code audit can never guarantee 100% security.
On September 14, 2020, DeFi project ForTube and its official security auditing service provider CertiK announced a collaboration as an initial milestone to strengthening the science of DeFi security. ForTube will integrate the Security Oracle powered by CertiK Chain, which will provide real-time on-chain security scores for ForTube and their external smart contracts, to mitigate the risks that impending transactions may face. ForTube will reference security insights from CertiK Security Oracle to obtain high-quality, high transparency, real-time data, providing reliable security intelligence for customers’ asset management and assisting liquidity mining users’ important decisions, while avoiding malicious attacks by market manipulators.
ForTube is the world’s leading DeFi lending platform launched by The Force Protocol, supporting most of the world’s popular assets and commiting to providing decentralized services for crypto asset enthusiasts around the world. Users can deposit coins to earn interest, and borrow coins by paying interest, which is determined by market supply/demand and assets controlled by users.
In early September, the CertiK Foundation released its platform’s core feature, namely Security Oracle, that leverages a diversified security technology matrix to guard the blockchain and DeFi security. Through real-time generated security intelligence, CertiK Chain, via Security Oracles landed on other blockchains like Ethereum, bridges the security technologies for DeFi projects and effectively avoids potential malicious attacks.