Lido Partners With Forta
Lido partners with Forta, the first decentralized network delivering real-time intelligence on the security and health of Web3.
Furthermore, Lido Finance is one of the largest DeFi protocols ranked by funds locked. It is using Forta to detect critical security and operational risks in real-time.
Meanwhile, Lido is a liquid staking solution, a simple and secure way to earn interest on digital assets. On Ethereum, anyone can participate in securing the [Proof-of-Stake Beacon Chain], and earn rewards for doing so.
There is no need to manage or maintain any hardware, instead, users can be confident that their stake is being pooled across a growing list of industry-leading staking providers who have demonstrated world-class performance and reliability.
From their first interaction with the Lido team, it was apparent they took security seriously. Over the last three months, Lido has been thoroughly testing Forta; pushing the boundaries of what developers can do with bots and providing the Forta core dev team with valuable feedback.
Lido’s monitoring started with important protocol operations around oracle quorum status and reporting changes to staking rewards, and Anchor rewards. Recently, they have expanded their use of Forta to include security-related monitoring, including several bots monitoring different invariants, and bots that identify potential phishing attacks.
From its first interaction with the Lido team, it was apparent they took security seriously.
Over the last three months, Lido has been thoroughly testing Forta; pushing the boundaries of what developers can do with bots and providing the Forta core dev team with valuable feedback.
Moreover, Lido’s monitoring started with important protocol operations around oracle quorum status and reporting changes to stake rewards and Anchor rewards. Recently, they have expanded their use of Forta to include security-related monitoring, including several bots monitoring different invariants, and bots that identify potential phishing attacks.
“On-chain monitoring is a great challenge for all DeFi apps. In Lido we have tried a lot of monitoring services and tools. And among the great variety of options we have chosen Forta as our main monitoring tool! Why? Because Forta features incredible flexibility, reliability and truly decentralized approach!” —Dmitriy, Software Development Engineering & Testing at LIDO.
ABOUT Forta Network
Forta is the first decentralized network delivering real-time intelligence on the security and health of Web3 core infrastructure and dApps. Protocols, DAOs, investors, and individuals can use Forta to receive real-time insights on security, financial, operational, as well as on governance-related events on L1s, L2s, and sidechains.
ABOUT Lido Finance
Lido is a liquid staking solution for ETH 2.0 backed by industry-leading staking providers. Lido lets users stake their ETH – without locking assets or maintaining infrastructure – whilst participating in on-chain activities, e.g. lending.
RESOURCES
Forta Network
