Lendefi Community Update

Published on: 08.07.2021

Lendefi released Community Update covering important information concerning audit, testnet deployment, user interface design & web interface.

Audit

Lendefi received the draft of auditor’s report on July 5th. They are pleased to inform community that no critical issues were identified during the audit process. Their auditors have provided them with some recommendations for the Lendefi protocol, which they are incorporating whilst ironing out some minor issues.

Once these have been addressed, the updated protocol will once again be shared with the auditors for a final review. After this is complete, Lendefi will release the formal audit report into the public domain.

Testnet Deployment

On June 28th, the Lendefi protocol was deployed onto the Binance Smart Chain testnet. Initial testing has revealed some issues which are only relevant within the testnet environment. These issues are caused by PancakeSwap’s (trade contract) stack being only partially deployed on the Binance Smart Chain testnet and utilizing only a limited set of pairs.

Some elements of PancakeSwap are not supported by the PancakeSwap team on the Binance Smart Chain testnet. This is because they are community maintained and unofficially deployed. Furthermore, only a few ChainLink contracts are available on the testnet. Several other dependencies, that are usually found on the mainnet, are not available (Chi).

However, they are pleased to announce that these preliminary issues were resolved by July 6th. The team has now shifted focus to the implementation of the audit recommendations. These recommendations are all minor in nature and once implemented, the contracts will be upgraded onto the testnet. A new cycle of tests will then be performed to ensure the protocol’s functionality is optimized and secure.

User Interface Design

The user interface was finalized by July 1st and approved for implementation within the previous week. Below is a new screenshot of Lendefi’s user interface design.

Web Interface

The web interface is now being updated to incorporate the amended design and the final issues identified during the testnet deployment.

Mainnet Launch

Whilst they have made strong progress, Lendefi must advise our community that they have been forced to defer published mainnet release date of July 12th. This delay is solely due to delivery issues experienced by lead developers BLABS and is beyond the control of the Lendefi management team.

BLABS has informed us that they require additional time to implement the audit recommendations and stabilize the protocol’s functionality. Lendefi’s management team is treating this delay with the utmost urgency. Swift delivery of a secure mainnet release is the priority for Lendefi’s management team.

Although they regret the delay to our expected mainnet launch date, commitment to transparency and community is unwavering. Blockchain development is full of obstacles and they continue to surmount the challenges as they arise.

They will be working closely with BLABS to assist them in finalizing the Lendefi protocol. In the meantime, they are looking forward to opening testnet environment to the community for testing once it is stable enough.