Beosin Has Completed Security Audit Service of Crafting

Audit work duration: February 25, 2022 — April 14, 2022

Audit methods: Formal Verification, Static Analysis, Typical Case Testing and Manual Review.

Audit team: Beosin Technology Co. Ltd.

About Crafting

Crafting is a synthetic asset issuance protocol where users can mint a synthetic asset, such as USD, by staking backed tokens and automatically take a long position on that asset. Users can also exchange minted assets for other assets through crafting contracts, so as to short assets and long other assets. The assets minted by all users correspond to the liabilities of the entire system, and the debt ratio of each user has been determined at the time of forging, so that their respective benefits can be calculated.

Audit results

After auditing, 2 Critical-risk, 4 High-risk, 4 Medium-risk and 4 Low-risk items were identified in the Crafting project. The final audit results are available in the audit report. Enter 202204141429 to view the report at https://beosin.com/#/index/service/contracts.

Process

Beosin has focused on the core security issues such as contract permission control, synthetic asset security, verification of cross-contract call status during the audit process. The auditing workflow is mainly as follows:

l. Conduct preliminary source code review;

2. Use Beosin’s self-developed formal verification engine to conduct an in-depth detection of the contract codes in all aspects;

3. Practical deployment and validation via sandbox simulation;

4. Manual line-by-line code review by security experts;

5. Complete the final audit report.

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