With the Spearbit audit completed, LI.FI smart contracts have now been audited three times.

We are proud to announce that LI.FI’s smart contracts have now undergone three audits by Spearbit, Code4rena, and Quantstamp!

Let’s dive into the results.

Spearbit (November 2022)

Spearbit is a decentralized network of security experts providing security consulting services to clients in web3. The Spearbit audit discovered 114 total issues during its analysis of the LI.FI smart contracts, with the vast majority of the recommendations categorized as informational, gas optimizations, and low-risk issues. Overall, 8 issues were described as high risk, and 19 were classified as medium risk. The LI.FI team has since resolved each of these issues and documented the fixes in the audit report linked below.

With the audit, LI.FI has dropped the “beta” for two new features: the monetization switch and cross-chain contract calls — both of which we are super excited to see integrated by dApps in 2023. The monetization switch allows any dApp that integrates the LI.FI widget, SDK, or API to implement a fee on top of bridging and gas fees. Cross-chain contract calls unlock the ability for dApps to interact with smart contracts on separate blockchains thanks to our integrations of Connext and Stargate. For more information on these two features, read our documentation.

The full audit report can be found here.

Quantstamp (May 2022)

Quantstamp is a leading blockchain security firm that has helped audit DeFi protocols to secure over $200 billion. Its LI.FI audit took place between April 11, 2022, and May 5, 2022.

The Quantstamp team uncovered ten issues during the audit. Overall, one issue was deemed high risk, one issue was reported as medium risk, and two issues were categorized as low risk. Quantstamp also labeled six issues as informational risk. Each of the high/medium/low risks have since been resolved. The informational risks have also been acknowledged.

The report can be found here.

Code4rena (March 2022)

Code4rena (C4) is a community-based organization of security researchers, auditors, developers, and smart contract domain experts. In its LI.FI audit contest, which took place between March 24-March 30 of 2022, 68 “Wardens” (community members) participated in reviewing, analyzing, and auditing LI.FI’s smart contract logic in exchange for a piece of a $75,000 bounty sponsored by LI.FI.

Overall, the C4 analysis discovered 15 unique vulnerabilities across LI.FI’s 17 smart contracts and 994 lines of Solidity code. Of these vulnerabilities, 2 received a HIGH risk rating, while 13 received a MEDIUM risk rating. The LI.FI team has since resolved each of these issues, which are documented in the audit report linked below. In addition, C4 also highlighted 79 low-severity, non-critical, and gas optimization issues.

The full report can be found here.

Conclusion

As builders in the space, LI.FI’s primary focus is guaranteeing the safety of user funds. Our users can rest assured that we take security incredibly seriously, as emphasized by the fact that we sought out not one, not two, but three audits for our smart contracts.

If you have any questions or concerns regarding the audit process, please feel free to reach out to LI.FI on Discord.

Get started with LI.FI today:

For more information about the LI.FI protocol,

• Head to our link portal at https://links.li.fi/
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