Quantstamp, a leading blockchain security company, has finished its audit of IDEX 2.0, a new, higher performance update to popular decentralized exchange IDEX. Security is one of the main issues holding back Decentralized Finance, so we’re happy to be helping IDEX scale to the next stage of their growth by auditing their latest platform.
Surpassing High Gas Fees
IDEX is one of the most popular Decentralized Exchanges, with over 300k users executing over $2billion in trades. By utilizing Optimistic Rollups, it aims to scale performance further. By batching transactionstransactiItons, and rolling them up into a Merkle tree, Optimistic Rollups allow IDEX to achieve strong performance in the midst of record-high gas fees
DeFi Security Challenges
Quantstamp’s audit of IDEX helps make sure users are secure in an environment where significant funds are being lost in DeFi projects. While DeFi has seen skyrocketing growth to over $6B in value locked this year, security is also a challenge. Over $25M in value has been exploited this year in the Decentralized Finance space through hacks and exploits.
Securing IDEX 2.0
Quantstamp is happy to have helped IDEX secure IDEX 2.0 through auditing the platform’s on-chain components. Four engineers audited the code from 6-08-2020 through 07-21-2020. In total, 11 issues were identified, mostly informational with 3 low risk issues. No high risk issues were found. Further information on the audit can be found in the audit report.