ChainSecurity completes security audit for Kyber.Network

ChainSecurity, creator of an audit platform for smart contracts today announced it has completed a security audit of Kyber.Network, a decentralized exchange that supports a wide number of tokens. The full report, including the range of the audit and considered properties, is now available for public view.

Through Kyber.Network, tokens and ether can be exchanged in a decentralized, fast, and trustless manner. In comparison with other platforms, a token exchange on Kyber is completed within a single transaction. Therefore, there is no need to wait as everything happens on-chain. These properties make the smart contract security of great importance.

The Kyber.Network team said:

“Kyber has a detailed trust model that combines upgradability and trustworthiness, an achievement that is rarely seen. In particular, users are protected by the proxy contract from misbehaving administrators or exchanges. This is because the proxy contract enforces a minimal conversion rate while still allowing upgrades to the underlying business logic.”

Overall, the ChainSecurity team found that Kyber’s platform is designed well. Furthermore, its implementation of smart contracts is clean, follows best practices and guidelines, and comes with an extensive test suite.

During the security audit, the ChainSecurity team made several minor recommendations, which have already been addressed by the Kyber team, with no remaining security issues.