Runtime Verification completes Folks Finance’s Protocol Design Review
Runtime Verification has successfully completed Folks Finance’s protocol design review.
The team has engaged Runtime Verification Inc, a leader in the sector, to conduct the protocol security audit, which consists of the design review and, subsequently, the code review. The design review specifies a decentralized, algorithmic lending application to be built on the Algorand blockchain. Here’s how it quotes the report issued by Runtime Verification:
“The main objective of this review was to develop a deeper understanding of the business logic of the application and prepare for an upcoming full-blown security audit of the implementation of the protocol as smart contracts written in TEAL. The review involved studying the provided artifacts carefully, and discussing various aspects of the protocol with the Folks.Finance team and making suggestions for improvement as appropriate.”
The outcome was optimal. The reviewer found the protocol very well thought out and the design document well structured and written, proposing suggestions for further refining.
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