AUDIT is Here🟢: Kitchen is #SAFU
A Breakdown of How Spoon Exchange Keeps You Safe
Spoon Exchange is dedicated to keeping our users and their funds safe. We take this very seriously, so below is a breakdown on exactly how we honor that commitment đź”’
The Background
In the tech industry, we’ve gotten accustomed to newer = better. Fast-paced innovation has always been king.
As recent events in the Core Chain ecosystem have shown, this couldn’t be further from the truth when dealing with smart contracts.
When building complex decentralized applications, usually it is safest to avoid reinventing the wheel, and instead fork established protocols that have been battle tested. This is exactly what Spoon Exchange did when deploying our DEX, by forking Thena’s code and changing only the most essential items that helped us solve many bugs.
Thena has led the way for ve3,3 with an excellent security track record from when they launched in January 2023. When Thena launched, they go through an extensive audit to make sure all of their code is safe. This in-depth auditing process allows them to fix any security issues before releasing their DEX to the public. Spoon Exchange is based off of Thena.fi with some improvement, where there were no major findings uncovered during their audit. You can read more about this audit here.
Safety First: Spoon Exchange’s Kitchen Rules
More specifically, Spoon Exchange’s approach to security manifests itself in a few Rules of security that we hold near and dear at Spoon Exchange.
- Move Slow, Don’t Break Anything — When it comes to innovating from a smart contract perspective, we’re intentionally slow to move. We would much prefer to take our time on getting a new feature out rather than putting our users at risk.
- Move Fast Where There is Low Risk — When it comes to innovating on the business development side of things, we want to move as fast as possible. Low-risk updates like new farms, pools, and UI features are where we drive most of our innovation and change.
- Audit First, then Deploy — Before we launch anything of importance or that could impose a substantial risk to our users, we make sure to get it cleared through an audit.
AUDIT đź“‘
Spoon Exchange is Audited by none other than EtherAuthority.
We have been working with them since 24th March 2023 and continuously improving our codebase to be Safer and Safer.
You can find Spoon Exchange’s Final Audit Report here:
https://etherauthority.io/spoon-exchange-smart-contract-audit/
Words from EtherAuthority:
— According to the standard audit assessment, Customer`s solidity smart contracts are “Secured”.
— We used various tools like Slither, Solhint and Remix IDE. At the same time this finding is based on critical analysis of the manual audit.
— We found 0 critical, 0 high, 1 medium and 2 low and some very low level issues. Medium severity issue has been resolved in the revised code.
The Security Conclusion
In conclusion, we essentially have the same security standards as Thena. While there have been general security concerns in the De-Fi space, the Spoon Exchange team is confident in our security standards and want to reassure you all that your funds are SAFU.
Resources:
Website: https://spoon.exchange/
Twitter: https://twitter.com/SpoonExchange
Discord: https://discord.gg/spoonexchange
