SundaeSwap, the Cardano-based decentralized exchange (DEX), has completed its security audit and all issues identified are said to have been resolved. The audit was conducted by Runtime Verification Inc., a software security auditing firm that applies formal methods to improve the safety, reliability, and correctness of computing systems for aerospace, automotive, and the blockchain.
The new development was shared with the Cardano community by SundaeSwap via a tweet on 28th December 2021. In the tweet, the DEX described its experience with the audit process as spectacular.
SundaeSwap tweeted, “Today we are pleased to announce the audit completion of the SundaeSwap Protocol! Our experience working with Runtime Verification has been nothing short of spectacular.”
🍨Today we are pleased to announce the audit completion of the SundaeSwap Protocol! 🔎
— SundaeSwap Labs 🍨 (@SundaeSwap) December 28, 2021
In a blog post captioned in the tweet, SundaeSwap noted that there were issues identified by the audit, which were immediately resolved to the satisfaction of the auditor’s validation process.
The blog post reads in part as follows:
“The RV audit included a thorough review of SundaeSwap contracts using verification-based techniques, the identification of specific risk vectors, and a full analysis of the SundaeSwap development team’s fixes for issues identified by the audit.”
According to Pi Lanningham, Chief Information Officer of SundaeSwap Labs, Runtime Verification’s audit process was not rubber-stamped. He said:
“RV’s thorough process identified a number of issues that we were able to quickly resolve. The result is a DEX that is able to safely meet the needs of the Cardano DeFi Community. Cardano’s core principles embrace security and resilience, and it is important for the protocols built on Cardano to carry on this tradition. By completing this audit, we have accomplished that for version 1 of the SundaeSwap protocol”
Lanningham added that SundaeSwap Lab will continue to engage RV for the review of its future updates to the protocols it plans to build in the future.
“We plan to continue to engage with Runtime Verification as we build future improvements to the protocol and present them to the DAO for voting. It is critical for the long-term success of any DEX to evolve in a secure and robust way.”
Meanwhile, the Cardano-based decentralized exchange SundaeSwap was launched on the public testnet on 6th December 2021. The protocol is one of the major projects expected to launch on the Cardano network in the coming year.