Alpha Finance Lab, an ecosystem of DeFi products, has announced that Alpha Homora V2, a leveraged yield farming and leveraged liquidity providing protocol, is being audited by OpenZeppelin.
This marks another step taken towards the relaunch of Alpha Homora V2, which will see the re-enabling of borrowing/opening new leveraged positions, additional leveraged pools and lending assets added, and new special features.
Alpha Homora V2’s audit by OpenZeppelin was conducted on top of previous audits done by Quantstamp and Peckshield. Multiple audits are a key part in Alpha Finance Lab’s multi-prong security model.
The full audit report will be released in the coming weeks.
Security Model at Alpha Finance Lab
Alpha Finance Lab’s security model includes:
- Multiple audits from industry-leading firms
- Continuous external peer reviews
- Continuous internal reviews
- Constantly utilizing internal monitoring tools
- Active bug bounty program
Alongside audits, internal reviews and external reviews by top security researchers are being conducted on Alpha’s entire ecosystem.
Additionally, internal monitoring tools are utilized across Alpha Homora V1 and V2 on Ethereum and V1 on Binance Smart Chain (BSC). These tools help Alpha Finance Lab maintain a high-security standard and experience for Alpha Homora’s users, and will aid all future Alpha products as the product suite expands. To round off Alpha’s security model, the team will soon be kicking off an active bug bounty program.
“By engaging in multiple external audits, continuous internal and external peer reviews, and implementing internal monitoring tools and bug bounty programs, Alpha is staying committed to placing security at the forefront of our growing ecosystem. OpenZeppelin’s most recent audit of Alpha Homora V2 is just one example of the importance we place on security across all our products.”
– The Alpha Finance Lab Team