ETHLend, a decentralized lending platform built upon the Ethereum blockchain announced new members to its Advisory Board including Amin Rafiee, Ada Jonuse, and Jon Matonis, who will join the recently announced Professor Wulf Kaal. The board works consistently with the ETHLend team in various aspects of decentralized lending, global finance, and the blockchain technology.
Additionally, the ETHLend team reported details regarding the recently conducted third-party security audit for the $LEND token sale smart contract. The security audit revealed one potential security issue, which does not affect the token sale itself, but rather the future use of the token.
The flaw has been fixed during the audit review process.
Due to the simplicity of the token sale smart contract, the smart contract did not consist of zeppelin-solidity, a commonly used library, which was recommended for functionality. The audit suggested not to “reinvent the wheel” and use the library instead.
Additionally, the audit suggested avoiding human error by hard-coding the parameters into the smart contract. Without such hard coding, extra attention should be maintained during the deployment of the smart contract to the main-net.
Overall, the auditor stated:
“All these issues did not affect the security of the ICO contract directly” and “The ICO contract is safe for use in production”.
As the security audit has taken place and no security issues are holding the token sale, the ETHLend team is ready to proceed in deploying the contract to the Kovan test-net and later on Ethereum main-net.