DeFi protocol EasyFi wants to make a comeback in a big way. After a challenging start to the year, the EasyFi team has completed a hard fork and released a detailed interim compensation plan and recovery plan. Built on a backbone of permissionless networks and automated smart contracts, the latest news for EasyFi bodes well for future growth.
The protocol is taking the next steps to see success, implementing two new key partners – Halborn for auditing and security, and Tidal Finance for insurance. The Layer 2 lending protocol has been honed in scalability, composability, and adoption – and is now adding the security and security needed to build it.
EasyFi x Halborn: Cyber Security at the Forefront
EasyFi is partnering with cybersecurity firm Halborn for a full-scale smart contract security audit and comprehensive security advisory for the EasyFi infrastructure across the Polygon, Ethereum and Binance smart chains.
The Layer 2 DeFi firm insisted on a full audit of the security practices in the aforementioned restoration plan and has brought in Halborn to bring it to life. The partnership will continue and will continue to ensure that there is a process-driven security strategy in place, as well as auditing, mentoring and technical validation around security from the Halborn team.
Additionally, Halborn will conduct penetration testing to identify potential vulnerabilities within the protocol before exploiting them. From best practices and smart contract audits to protocol testing and risk assessment, EasyFi will seek a holistic security approach from Halborn.
Halborn’s team has worked on cybersecurity efforts with clients such as Coinbase, Stellar, Bancor and BlockFi.
EasyFi x Tidal Finance: Insurance for the EasyFi Lending Protocol
The EasyFi network is also partnering with Tidal Finance, the first cross-chain DeFi insurance platform. Tidal offers services that allow users to create their own custom insurance pools for different types of assets, while giving liquidity providers the opportunity to invest in pools ideal for their risk/reward ratio.
Through the Tidal partnership, EasyFi offers multi-tiered insurance coverage to all users and projects, in an effort to highlight the risk-mitigation capabilities the chain can provide to its consumers.
Tidal will provide an insurance cover to the EasyFi multi-chain protocol, engage with secure credit delegation and micro-lending services, allow users to select risk pools at their discretion, and allow users to choose between assets and coverage terms Will give the opportunity to filter through. , allowing a customized insurance package.
The partnership will enable EasyFi to insure its so far audited smart contracts against failure or unforeseen future vulnerabilities. It will also allow the platform to secure all digital asset offerings from user deposits to lending. It also shows the ability for EasyFi to flex its muscles in the liquidity pool by looking at various metrics to evaluate risk and returns.
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