Quantstamp Audits Ampleforth, a Digital-Asset-Protocol for Smart Commodity-Money

Quantstamp Announcements
July 17, 2019

Quantstamp engineers recently completed an audit of Ampleforth, a digital-asset-protocol for smart commodity-money and the first IEO on Tokinex (Ethfinex/Bitfinex IEO platform). 

Founded with a mission to create fair, politically independent money, the Ampleforth protocol receives exchange-rate information from trusted oracles, and propagates that to holders of its units (Amples) by proportionally increasing or decreasing the number of tokens each individual holds. Quantstamp will serve as a trusted data feed provider for Ampleforth’s price oracle.

“Being audited by Quanstamp was important to us,” said Ampleforth CTO Brandon Iles. “They hold their clients and themselves to the highest security standards. We know that identifying any risks and vulnerabilities is critical to mitigating the risk of any future hacks.”

Commodity-monies such as gold and silver are naturally fair and independent; however, they are inadequate substitute for central-bank-money as they cannot respond efficiently to fluctuations in demand. To tackle this challenge, Ampleforth’s protocol allows its units (Amples) to avoid the deflationary problems of fixed-supply commodities without requiring a central authority. As the price of Amples fluctuates, the number of Amples a trader holds adjusts to meet the price target, stabilizing the asset.

Quantstamp’s objective was to evaluate the repository for security-related issues, code quality, and adherence to specification and best practices. The audit was conducted by three experienced security engineers from Quantstamp’s auditing team and involved architecture review, unit testing, functional testing, computer-aided verification and manual review. In the end, there were no significant security vulnerabilities found during the audit. The full report is publicly available.

Following the launch of Security Network V2, Ampleforth will be running a Quantstamp node, helping contribute to the reliability and decentralization of the network.

December 5, 2019

Quantstamp Community Update - November 2019

ETHWaterloo, Disruptor Daily Award, Forbes and more. Here’s what’s been going on at Quantstamp in November:

December 2, 2019

Quantstamp Wins Cybersecurity in Blockchain Use Case Awards

Quantstamp is excited to share that we recently won first place in the Cybersecurity in Blockchain Use Case Awards. Organized by Disruptor Daily, these awards profile companies that are developing practical use cases for the cybersecurity industry. 

November 1, 2019

Quantstamp Community Update - October 2019

Devcon Osaka, working with MetaCartel, UWaterloo Blockchain+Security Workshop, SF Blockchain Week - it’s been a busy month at Quantstamp!

October 4, 2019

How to Use DeFi Safely

With eye popping interest rates on lending platforms, it’s never been more tempting to put assets into some of the promising new #DeFi applications out there today. But is security an issue? Dr. Poming Lee, Security Engineer with Quantstamp, explains how to keep your funds safe when using DeFi.