Security
When it comes to DeFi, the most important base layer and one which is often overlooked by the masses is security. Without a bulletproof foundation that has been put through rigorous testing, users are exposed to elevated risk factors that compromise safety and adoption. At Beets, we prioritize security as a fundamental, and as such we have invested heavily in any action that bolsters security for our users.
Audits
Beets uses Balancer V2 contracts verbatim, which have completed several full audits.
We have also completed a Beets specific audit that verified the deployment on Fantom with one of the most highly regarded Audit firms in DeFi - Trail of Bits . You can read the full audit here. The deployment on Sonic uses the canonical address of Balancer for the vaults which confirms that the exact same code was deployed than for the official Balancer V2 and V3 deployments.
We have gone through two audits for Beets Staked Sonic, one with Spearbit and one with Trail of Bits. You can check them out here:
Bug Bounties
As a community, Beets has been an active contributor to the Balancer Labs Bug Bounty programm; one of the largest bug bounties in DeFi valued up to $1,000,000.
On top of the efforts made by Balancer, we have also run our own Bug Bounty initiative up to a maximum value of $200,000. Our protocol uses more than the contracts that are covered by the Balancer program and as such it only makes sense for us to further incentive the security of the platform. For more information, visit the bug bounty program.
Contracts
All contracts are immutable and not upgradable.
Balancer V2 uses an authorization mechanism which allows fine grained access control on a function level. At its core is the Authorizer contract which manages access to all protected function calls.