Shellboxes has completed a security audit of Velvet Capital Protocol
Shellboxes has completed a security audit for Velvet Capital, a DeFi protocol that helps people & institutions create tokenized index funds, portfolios & other financial products with additional yield.
The protocol provides all the necessary infrastructure for financial product development being integrated with AMMs, Lending protocols and other DeFi primitives to give users a diverse asset management toolkit.
Velvet Capital selected Shellboxes as their official security partner to ensure the smart contract’s security in order to get ready for the launch and expansion of their worldwide offering. Velvet Capital selected Shellboxes as their security partner because it could expand with them and provide extensive and comprehensive product protection.
The Audit Process
Velvet Capital’s team worked closely with Shellboxes’ team of skilled security engineers to complete the assessment. Velvet Capital’s BEP-20-based Smart Contracts and supporting paperwork were thoroughly examined, and the Audit Report was successfully produced in 6 working days.
The team concluded that Velvet Capital’s code was efficient and well-organized overall. Static analysis (Slither), Unit tests and manual review were all used during the audit. The following are some of the key points:
- Velvet Capital’s contract is straightforward and includes well-constructed test cases that are supported by documentation. Velvet Capital team’s professionalism and prompt feedback were valued by the Shellboxes team.
- Velvet Capital’s smart contracts were tested against both common and uncommon attack vectors. While examining the design and implementation of Velvet Capital contract, the Shellboxes team discovered several issues of varying severity. Velvet Capital team addressed 20 issues raised in the initial report and implemented the necessary fixes, while classifying the rest as a risk with low-probability of occurrence.
- In order to estimate possible market manipulations connected to Velvet Capital’s tokenized crypto portfolios, security experts from the Shellboxes team thoroughly examined Velvet Capital’s economic model. Velvet Capital’s protocols are theoretically robust, according to our report’s conclusion.
Shellboxes would like to congratulate the Velvet Capital team for passing the rigorous audit process.
About Velvet Capital
Velvet.Capital is cross-chain DeFi Asset Management protocol that helps people & institutions create index funds, portfolios, and other structured financial products in just a few clicks- as well as manage their portfolios on-chain.
Velvet.Capital is being built to make DeFi simpler, sleeker, and safer than ever before by helping users diversify across assets, ecosystems and yield farming solutions! They’re on a mission to bring financial independence — free of intermediaries and centralized parties- to the next billion crypto users & become the #1 multi-chain platform to manage digital assets.
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About ShellBoxes
ShellBoxes is a leader in the cybersecurity and blockchain industry, with a team of experienced professionals who have exceptional achievement during their career.
We provide blockchain security and development services, ranging from smart contracts development to Smart contracts and Dapps security audits.
To request the audit of your smart contracts, please email contact@shellboxes.com or visit audit.shellboxes.com to submit the request.
