ChainSecurity performed a security audit of the MADANA PAX smart contract. ChainSecurity formally verified the contract’s code with respect to 24 relevant functional requirements. To find out more about the scope of the audit, the verified requirements, and our findings, read our detailed audit report.
MADANA engaged ChainSecurity to perform a security audit of the MADANA PAX, an Ethereum-based smart contract. ChainSecurity audited the smart contract which is going to be deployed on the public Ethereum chain. To guarantee that the MADANA PAX contract is secure and functionally correct, ChainSecurity formally verified the contract’s code with respect to 24 relevant functional requirements.
The security audit consisted of:
1) formalizing 24 functional requirements;
2) verifying the correctness of the MADANA PAX contract with respect to the formalized requirements;
3) analyzing the contract for generic security vulnerabilities; and
4) a thorough manual audit of the contract for compliance with best security practices.
During the audit, the verification of the MADANA PAX contract revealed one design issue, which was acknowledged by MADANA. No security or trust issues have been found and ChainSecurity considers the code to be secure. The employed coding practices and documentation are up to a high standard.