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Cardano-Based Decentralized Exchange Minswap Announces Audit Completion

Cardano-based decentralized exchange (DEX), Minswap, has announced that it has completed the internal security audit conducted by the software innovation lab Tweag, which focuses on Haskell development. The announcement was made via a blog post on February 11.

During a smart contract audit, it’s expected to spot and remove bugs before it is allowed to launch. According to the report, the audit conducted helped to detect a total of 13 bugs after a vigorous search for issues such as incorrect minting, incorrect dust collection, denial of service attacks, among others.

Whale Alert

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Minswap tweeted, “We are pleased to announce the security audit completion of The Minswap DEX by tweag.”

According to the Tweag Team, the implementation abides by its specifications and the detailed report will be available soon.

In late January, Minswap, the first DEX on the Cardano blockchain, launched its latest public testnet known as “The Laminar Flight Test mission.”

Back in September 2021, Minswap became the first decentralized finance (DeFI) application to go live on Cardano’s public testnet, which played out just two weeks prior to the launch of smart contracts on the mainnet.

However, Minswap faced criticism after users started receiving errors while attempting to swap tokens due to the so-called “concurrency” issue. This made many critics question the viability of the Cardano blockchain, which uses the extended unspent transaction output accounting model (EUTXO).

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In a blog post, the decentralized exchange (DEX) accused the critics of “FUD and finger-pointing”, claiming that the team is already working on resolving the issue.

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Aside from Minswap, there are other prominent decentralized exchanges on the Cardano blockchain. As reported by TimesTabloid, SundaeSwap launched its beta version on mainnet in late January 2022.


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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