From code to community: Unlockd’s view of blockchain security

Discover our commitment to safe and secure NFT lending

4 min readAug 25, 2023

In the evolving world of blockchain, security isn’t just a priority — it’s our foundation.

At Unlockd, we’re at the forefront of NFT-backed lending, and we understand the magnitude of responsibility that comes with safeguarding your trust, data, and assets.

Why smart contract audits matter

Smart contracts are essentially the gears that keep our platform running. They dictate how borrowing and lending of digital assets happen.

But like any complex machinery, there’s potential for tiny hiccups. And that’s where Smart Contract Audits come in.

These audits rigorously test and analyze every single line of our code, looking for anything out of place or any potential vulnerabilities. They’re not just checking for functionality but also for resilience against external threats.

Audits analyze contracts from multiple critical angles:

  • Interface audits ensure seamless user interactions.
  • Architecture reviews validate structural integrity.
  • Unit testing thoroughly interrogates each component’s logic.
  • Modeling simulates diverse scenarios.

Auditors hunt for lurking bugs like reentrancy, integer overflows, and access control issues—vulnerabilities that could lead to loss of funds. But they also look for inefficiencies in order to make Unlockd work as smoothly as possible.

Ultimately, these audits are more than just a technical requirement. They’re a pledge to our users, a testament to our commitment to security. Every audit ensures our platform remains a space where users can confidently engage, knowing their assets and data are protected by a gold-standard of security.

Partnering with the best: Halborn’s role

To ensure we’re at the peak of security, we’ve enlisted the expertise of Halbornaward-winning ethical hackers who are essentially our security watchdogs.

They conduct in-depth assessments of every contract before release, blending manual scrutiny with automated testing.

Once audits are concluded, their insights become our guides.

Halborn’s reports detail the entire process, highlighting any vulnerabilities and suggesting corrective measures. These reports are pivotal in ensuring that the bridge between Unlockd’s innovative offerings and our users remains sturdy and secure.

You can review these reports here.

In essence, our collaboration with Halborn stands as a testimony to our dedication to marrying innovation with security.

Together, we’re on a mission to offer a safe, transparent, and trustworthy experience in NFT-backed lending.

Curious about the Unlockd and Halborn collaboration? Get insights into how we’re shaping NFT Finance and cybersecurity:

Halborn Flash Videos with Jorge Schnura Becerro of Unlockd

Halborn, award-winning auditors, in charge of Unlockd’s security.

Staying proactive on the security frontlines

But audits are just one part of our security regimen. We also embed best practices from day one.

How so?

Well, our developers undergo extensive secure coding training. We’re talking mastery of principles like least privilege access, strict checks-and-balances, and clear separation of concerns. This gives them the skills to build robust protections into our contracts from line one.

And it doesn’t stop there. We’ve implemented rigorous coding standards that mandate proper input validations, gas optimizations, and code readability. Messy, obscure code has no place here!

There are also peer reviews critiquing every single code deployment — fresh eyes to catch what tired ones may miss.

Plus, we stay on the cutting edge of emerging cyber threats and defense tools. Collaboration with the community and participating in hackathons help strengthen our skills and protections.

Finally, we highly encourage users to test our environments and give feedback. Catching any flaws early is absolutely key to bulletproof security.

So in summary, audits provide that essential external validation. But robust in-house practices, vigilance, and community involvement give us a layered defense — essentials for protecting user assets in the blockchain frontier.

Engaging the community for collective vigilance

In addition to the rigorous examinations carried out by professional audit firms, we believe in the value of collective expertise and oversight.

Recognizing this, we have an active partnership with Immunefi to conduct a Community Audit. The program, part of a broader effort to maintain security transparency, encourages individuals, cybersecurity professionals, white hackers, and blockchain enthusiasts to analyze our platform’s mechanisms and identify possible security flaws.

The Community Audit not only promotes an open environment where potential vulnerabilities can be addressed preemptively, but it also provides a platform for skilled individuals to demonstrate their proficiency. Findings, based on their severity and the comprehensiveness of the report, are eligible for rewards.

Monetary compensations, which can reach up to $20,000, are determined by the significance and depth of the discovered issues, ensuring that valuable contributions are adequately recognized.

Want to give it a try? Check out the Community Audit.

About Unlockd:

Unlockd is a decentralized non-custodial liquidity protocol where users can participate as depositors or borrowers: it facilitates the safest, most secure, and cost-effective way to borrow against NFTs with instant, permissionless loans, as well as risk-free, auto-compounding yield directly in ETH for lenders.

Try Unlockd:

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Disclaimer: The information provided in this article is intended for informational purposes only and does not constitute financial or investment advice. Readers are encouraged to conduct their own research and consult with professionals before making any financial decisions.




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