MARKET Protocol Security Audit

ChainSecurity has completed a security audit of the MARKET Protocol platform. To find out more about the scope of the audit and considered properties, see our audit report.

Download Audit Report

ChainSecurity has completed a security audit of the MARKET Protocol platform. To find out more about the scope of the audit and considered properties, see our audit report.

Summary

The MARKET Protocol platform offers the ability to issue derivatives, whereby a certain collateral token is exchanged for a pair of long and short position tokens. These long and short position tokens are trade-able anywhere as standard ERC20 tokens. Price settlement is done by an oracle (or MARKET Protocol, if necessary), which/who will call a function once to settle the contract. Prior to settlement a user can redeem their collateral at any time for the pair of position tokens, but once a contract has been settled, the long or short position tokens are able to be redeemed separately for their settled value.

The smart contracts will be used through MARKET Protocol’s user interface. Thereby, MARKET Protocol has the power to decide which derivatives are listed on their web platform. During the code audit, ChainSecurity uncovered 2 high and 1 low severity security issues, as well as 12 low/medium severity design issues and 3 low/medium severity trust issues. All discovered issues were quickly fixed, addressed or acknowledged and hence, no security concerns remain at this time.

About MARKET Protocol

MARKET Protocol is a framework that enables traders and businesses to buy and sell digital and real-world assets in a safe, solvent and trustless environment.

Learn more at marketprotocol.io.