Augury Finance: Security at our Core
The story in the Decentralized Finance (DeFi) space is all too familiar. You place your trust in a team and their application gets exploited. Whether this exploit occurs because the team didn’t understand the code that they copied from a different project, or whether it occurred because of an intentional breach, we’re starting to see more rug pulls than we can shake a stick at.
While audits are helpful, they are taken at a point in time and may not reflect the most recent changes in a codebase. All too often, we see a team get one audit done and then never have an audit performed again. This, in our opinion, is problematic especially as many projects rush to the market with untested code and ideas.
At Augury Finance, we understand both the importance of audits as well as the importance of having a team of engineers that understand every aspect of the code within their application. As we mentioned in our previous post, our team has over 100 years of combined development experience, and we have previously worked in industries where security is the norm, not an exception.
In finance, whether it be centralized or decentralized, security must be at the heart of every decision. To that end, we will be introducing a feature within Augury Finance which helps people understand every large interaction on the platform. We’re calling this feature Augury Finance: Sentry and it will alert our community of on-chain events with the platform. For non-developers, this can give you instant insight into our contracts and any changes that get made with the contracts.
Additionally, we will be leveraging OpenZeppelin Defender as we look to provide additional measures to help ensure that our platform is as transparent as possible when handling your funds.
If our ideas about security make sense to you and you’d like to invest in a project with a team of engineers who put your safety and security first, come join us on Discord.
We’re launching at the end of May, 2021.