Quantstamp Enhances Security of New Nuo Contracts

Quantstamp Announcements
December 16, 2019

Quantstamp recently enhanced the security of Nuo’s xSplit smart contracts, which serve to provide Nuo customers with the best prices possible by splitting customer orders across various exchanges. Nuo is a repeat customer of Quantstamp: their first audit was completed this April. 

Backed by ConsenSys Ventures, Sequoia Capital, Polychain Capital, and Dragonfly Partners, Nuo Network is a DeFi project that enables global cross border borrowing, lending, and margin trading with it's decentralized debt products. Before the advent of open finance, digital assets such as ERC20 tokens and Ether remained idle. Now, through the Nuo Network, users can earn interest on digital assets by depositing them in Nuo’s token reserves. 

These token reserves are used to allow borrowers to receive instant collateral backed loans and margin trade with 3x leverage. The instant liquidity provided by the platform allows users to go long or short on Bitcoin, Ether, and select ERC20 tokens through decentralized exchanges like Kyber and Uniswap.

Recent Announcements from Nuo

Users can now borrow, lend, and margin trade SNX tokens on the Nuo Network. SNX is used as collateral on the Synthetics Network to mint synthetic assets. Synthetics allow holders to gain exposure to assets such as gold, Bitcoin, USD, TESLA, and AAPL on Ethereum without holding the underlying assets themselves or trusting a custodian. 

Nuo also recently announced that users can now use the Coinbase Wallet as an alternative to MetaMask. 

More on the Nuo Network

Nuo Network heavily leverages web3 infrastructure and projects including: Uniswap, MetaMask, Maker, 0x, Kyber, Open Zeppelin, Gnosis, Truffle, and Infura.

Nuo Network also places heavy emphasis on building a seamless user experience. In order to deliver a web2-like experience to their web3 application, Nuo uses tools such as MetaMask and Coinbase Wallet, which allows users to access web3 through their browser, and meta transactions, which abstracts gas fees and other elements of the blockchain.

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