DeFiSafety, a leading DeFi auditing firm, recently published a Process Quality Review (PQR) of Inverse Finance. The PQR is a comprehensive security audit that assesses the security posture of a DeFi protocol and provides a detailed report of the findings. We are proud to share that Inverse Finance received a score of 87, a 58 (!) point improvement from the previous PQR conducted in 2021. This new score ranks us at par with other reputable protocols and is a testament to the extensive work performed and resources spent on security operations and risk management.
What is DeFiSafety?
DeFiSafety is an auditing firm that specializes in conducting security audits of DeFi protocols. Their mission is to provide users with accurate and transparent information about the security and reliability of DeFi protocols so that they can make informed decisions about which protocols to use.
DeFiSafety's audits are highly respected in the DeFi community and are often used as a benchmark for the security and reliability of a protocol. In addition to providing a rating for a protocol, DeFiSafety also provides detailed information about any vulnerabilities or weaknesses that were identified during the audit and recommendations for how these issues can be addressed. These independent assessments play an important role in the DeFi ecosystem by helping to ensure that protocols are secure and reliable.
Where have we improved?
In the case of Inverse Finance, DeFiSafety's PQR review praised the recent efforts of the protocol's Risk Working Group in improving its security posture. The Risk Working Group has been actively engaged in identifying and managing risks associated with the protocol, and Inverse Finance has implemented a range of risk management strategies to reduce the likelihood and impact of these risks. The report also noted that Inverse Finance has engaged with external auditors to conduct code reviews and security assessments, which is a positive sign of the team's commitment to security and transparency.
Inverse received full marks in Documentation and Oracles. While the audit report noted areas where we can continue to improve, such as additional testing and auditing of its smart contracts, the overall assessment was positive. Inverse Finance's score of 87 in the PQR audit indicates that the protocol is in good standing regarding its security posture.
New Inverse Risk Guide on Gitbook
In addition to the positive audit report from DeFiSafety, Inverse Finance's Risk Working Group recently published a guide on Gitbook that provides valuable insights into the team's risk management strategies and best practices. The guide offers an in-depth look at how the RWG fulfills its directives of identifying, assessing, and mitigating risk through various custom-built frameworks. In addition, users get a clear demonstration of Inverse Finance's commitment to transparency and it provides users with a clear understanding of the protocol's risk management practices. We invite anyone with an interest in risk identification to check it out here.
We welcome security and auditing firms alike to come say Hi, evaluate our processes and help us identify areas where we can improve. While DeFiSafety’s PQR result is a positive development for us, we always strive to do better. Next time we plan on receiving full marks. Let’s make it happen!