NEW YORK 25/03/2021- The Zenfuse Team has successfully undergone an audit of their ‘Token Timelock’, an ERC-20 time-based lock mechanism most often utilized to release developer funds at a certain point in the future. A summary of the audit and its findings follows up.
With a mission to make trading effortless and more profitable for both beginners and professionals, Zenfuse enables trading on multiple cryptocurrency exchanges from one secure account on both desktop and mobile.
ZEFU, the native token and the unit of exchange in the Zenfuse ecosystem, serves a number of use cases; including, but not limited to, staking, platform access, and access to the Zenfuse Secure Gateway API.
10% of the total ZEFU token supply is reserved for the team and locked up for 24 months. Following that period, the team will receive the token at a rate of 10% of the total pool every 3 months.
Code Review & Auditing Process
The CertiK Auditing team assigned to the Zenfuse Token Timelock utilized a combination of static analysis and manual review over a 2 day period, March 16th — March 17th, 2021.
The team were not able to pinpoint any vulnerabilities in the Token Timelock codebase responsible for locking ZEFU tokens for the aforementioned period, there were a number of best practices in regards to code style and gas optimization which can be applied.
A total of 4 findings were reported in the summary, all of which were informational and have no bearing on the security of the codebase. All findings are related to coding style, gas optimization, or language-specific conventions. The team has recommended an alleviation for each of these, none of which have been implemented to this date.
By connecting a plethora of exchanges within one application, Zenfuse is set to transform the way that cryptocurrency traders interact with the marketplace. Their all-in-one platform is set to de-fragment and streamline the cryptocurrency trading experience and process.
ZEFU unlocks an array of additional features within the Zenfuse platform. The core functionalities of the token are as follows:
- Access to the Zenfuse platform and the unlocking of additional features
- Purchasing items from the Zenfuse App Store
- Rewarding other users for their contributions
- Usage of the Zenfuse Secure Gateway API
- Zenfuse Staking
CertiK is an edge-standards cybersecurity firm founded by Computer Science professors hailing from Yale and Columbia University respectively, aiming to improve the security and correctness of smart contracts and blockchain protocols on a global scale.
Leveraging a seasoned team of multi-skilled engineers and security auditors, CertiK’s mission is to apply a plethora of high-level industry practices, covering the entire spectrum of static, manual, and dynamic analyses, in order to ensure each project subject to a formal audit is up-to-date with modern security standards while offering their services to the broader DLT community.
Over the past few years, CertiK has serviced more than 100 top-shelf blockchains, DeFi protocols, among other complex and/or custom smart contracts, including but not limited to Binance, Tera, Bancor, Shapeshift, and Blockstack.
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