Beosin has completed the security audit service for OINStake smart contract of OINDAO
Recently, Beosin, the world’s leading Blockchain security company, officially announced that it has completed the security audit service for OINStake smart contract.
The development trend of DeFi remains unabated. With various DeFi tools joining the market, the existing non-DeFi projects are left without good access to the popular DeFi features, such as leveraging, yield farming, and the like. As the new technology and community booms, loyal community members often faced the dilemma of whether to sell their project’s coins to join, or to hold onto their assets and stay loyal. Therefore, a sustainable solution is urgently needed, and OIN Finance is born accordingly.
From its official introduction, OIN aims to “become the gateway into DeFi, promote the DeFi industry, and grow the DeFi Space to maturity”. With the introduction of their first product, the OINDAO, users will be able to mint stablecoins unique to their ERC20 tokens. This “opens up the DeFi features such as yield farming, staking, and minting to the rest of the crypto world, while allowing the communities to remain loyal.” As industrial head company dedicated to security construction of Blockchain ecosystem, Beosin is very willing to work with OIN Finance to jointly build a secure underlying environment for DeFi ecosystem.
Therefore, we recently received the security audit application from OIN Finance about OINStake smart contract that is used in the OINDAO stablecoin minting platform. Under the professional and comprehensive security audit service of the security audit team of Beosin, mainly focusing on 13 major audit items such as Coding Conventions, Function Call Audit, Business Security, Reentrancy, Integer Overflow/Underflow of OINStake smart contract, OINStake smart contract has already obtained the audit result of Pass, and its audit rating is Distinction.
In terms of security audit methods, Beosin adopts the Composite type for OINStake smart contract, including Formal Verification, Static Analysis, Typical Case Testing and Manual Review, etc. Among them, it is worth mentioning that, as the first company to apply Formal Verification Technology to the field of Blockchain security, Beosin-VaaS independently developed by Beosin can accurately and automatically locate code vulnerabilities, with a detection accuracy of up to 97%.
Beosin has issued an authoritative security audit report for OINStake smart contract to prove that OINStake smart contract has no security risks in the design and implementation on contract code; the project party can carry out follow-up work based on this contract. The security audit report issued by the security audit team of Beosin has been unanimously recognized by plenty of mainstream exchanges around the world.
So far, relying on 4 core products and 8 star services of “Beosin One-Stop Blockchain Security Service Platform”, Beosin has established in-depth cooperation with more than 100 domestic and foreign Blockchain head companies such as CAICT, WeBank, Wanxiang Blockchain, Ant Blockchain, Bubi, YUNPHANT, PwC, Huobi, and OKEx, etc. In addition, Beosin has provided security audit and defense deployment services for over 1,000 smart contracts, over 50 Blockchain platforms and application systems, and nearly 100 digital financial companies around the world.
About OIN Finance
OIN is a cross-chain layer 2 platform that enables users to take part in DeFi regardless of what project they’re coming from. Starting with OINDAO, users can leverage their assets to create their own stablecoin, allowing new use cases and methods of incentive distributions. OIN will build the bridge technology to seamlessly integrate Ethereum and others to start into its ecosystem, opening up to all of the current DeFi space, leveraging their assets and providing yield stacking, mining pools, and more. The dedication to this end is reflected in a three-pronged mission: become the gateway into DeFi, promote the DeFi industry, and grow the DeFi Space to maturity.
Beosin, also known as Chengdu LianAn Technology Co., Ltd., the world’s leading Blockchain security company, established in March 2018, is committed to the ecological construction of Blockchain security, and the headquarter of Beosin is in Chengdu. The core members of Beosin team are composed of professors, post-doctors, and doctors from well-known universities at home and abroad who have been engaged in information security for more than 20 years, and cyber security elites who have worked in well-known enterprises such as Ali, Huawei, and 360. Beosin has received multiple rounds of investment from well-known institutions such as Qianhai FOF, Lenovo VC, Fosun Hi-Tech, Chengdu VC, Surfilter, Milestone VC, Vangoo Capital and Fenbushi Capital.
Taking the 4 major technologies of Network Security, Formal Verification, Artificial Intelligence and Big Data Analysis as the core, company has created “Beosin One-Stop Blockchain Security Service Platform” for the entire ecological security of Blockchain, providing Blockchain enterprises with comprehensive security services and supports such as Security Audit, Virtual Assets Traceability, AML(Anti-Money Laundering System), Security Protection, Threat Intelligence, Security Consulting and Security Emergency, to realize the full-life cycle security solution “R&D→Operation→Supervision” for Blockchain system.
Beosin takes the mission of “Making the Blockchain Ecosystem More Secure” and its vision of “Becoming the World’s First Blockchain Security Company” to continuously create advanced core technologies of Blockchain security and safeguard the security of global Blockchain companies.