Lending aggregator Everlend, raises $2.6 Million in a strategic round backed by some of the key players in the industry.

The backers in the round include GSR, Serum Foundation, Everstake Capital, Portico VC and several angel investors.

Overview of Everlend

Everlend is a lending/borrowing aggregator powered by Solana. It launched on mainnet in early May and currently supports 10 assets and 3 money markets. Currently, the user depositing with Everlend receives a combination of high yield. Ensures by continuous rebalancing and a battle-tested risk management framework. One of the main novelty features is loan management (automatic movement of borrow positions between money markets).

“Loan management is a feature that got us excited about building Everlend in the first place. Since nobody has effectively done this before. It could be challenging at times but that’s the most fun part,” says Vit, one of the Everlend co-founders.

The team believes that in the current market situation a product, which makes the overall DeFi experience more secure, accessible and convenient for the average user is more needed than ever.

The post Everlend Raises $2.6 Million in a Strategic Round appeared first on Smart Liquidity Research.

Everlend announced that the security audit of its smart contracts has now been completed by Kudelski.

The platform is very happy to say that they have finished the initial audit process and successfully resolve all the issues that were previously highlighted.

As every blockchain enterprise will know, there’s a lot of pressure to get to market quickly and grow a client base. What happened with them, has happened to countless others. Everlend was too quick off the mark and went live on mainnet before the security audit had been concluded.

Everlend takes full responsibility for the exploit that happened shortly after going live and before the audit was complete. Painful though this was, there is a silver lining: Kudelski Security not only helped them identify a couple of vulnerabilities and bugs, which they have fixed along the way, but it has also helped Everlend take a broader approach to the security process. This, ultimately, enables them to decrease risk and improve the value of their product.

Indeed, Everlend can now operate with much more confidence in the security process. And with the assurance of having the teamwork in place to locate bugs. And maintain a community focus in any future development processes.

In short, their team is now more confident than ever to maintain Everlend as secure and as future-proof. As it gets and at the same time deliver a highly efficient and quality product for the end user.

However, Everlend are planning to open source their code and announce a bug bounty program in the coming weeks. This will constantly ensure high transparency, crowdsourced security and continuous review and monitoring of our updates.

About Kudelski Security

Kudelski Security is an innovative provider of intelligent, tailored cybersecurity solutions to a growing base of global enterprises and public sector institutions.

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About Everlend

Everlend is a decentralized lending and borrowing aggregator, which continuously provides its users with the highest yield on their deposit and the lowest interest rate on their loan.

Website | Twitter

SOURCE

https://medium.com/@EverlendFinance/everlend-audited-by-kudelski-7923f040b3eb

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