Back in the lab…

Definitex
3 min readMar 25, 2021

Well the results are in.

Yes the community called for audit’s (ED: so hot right now.) and thus we set to work seeking a new partnership, in The Audit Institute, who have subsequently provided in depth analysis of three of our contracts, the Beta Staking Contract (which was not deployed) Deployed Staking Contract (the one currently utilized at https://staking.definitex.org) and our trusty old $DFX Token Contract respectively delivered, if a little later than expected.

The full reports are available below, with no issues on our Token Contract to speak of, and a couple on our two staking contracts submitted (ED: for complete transparency, we spared no expense.) that we were aware of.

Our staking contract, has a Medium issue that we expected would arise on an audit, but is not a surprise.
To break it down, (ED: please do.) rewards are withdrawn from the contract balance, so the balance must be maintained. The fixed APY and staking fees of 2 per cent allow us to maintain this, and this is all monitored periodically with DFX being sent to the contract address as required.

With that said, as we appreciate matters like this may cause concern we are looking to implement an update to the staking platforms that can provide staking vault vs. staked or something like that visible to all stakeholders.

This version of our staking incentive was never meant to be the final one, it was deployed with the intent to rewards our early investors.
The final design is for a staking contract to be implemented that works with some of the more dynamic elements of the ecosystem described in the Litepaper, and obviously — all utilizing the Definitex app as the base platform.

Ah the app.

Delay

“Not the news we were looking for.”

We have been “back in the lab” for the past few weeks as we are trying to sort out some exciting updates to the app, as well as the planned launch and subsequent integration for our own DEX, so it’s very much been heads down at DFX HQ.

We had delayed the release of our audit reports to tie in nicely with our app launch on the Google marketplace, and as you have probably notice the app did not go up on the marketplace as planned.
Although this is disappointing, it is now out of our hands as the app has to undergo the outlined submission process required by Google to list on the marketplace.
The good news is this process is underway, and will provide updates as soon as we have them, we’re looking forward to having the app available through the marketplace as this will significantly extend integration.
Once this initial review period is over, further updates to the app as they come will be more streamlined through the marketplace interface.

So what’s next on the horizon?
Well obviously, the app launch to marketplace is the next immediate step, but the next app update to follow will integrate some more unique features to really start moving in the direction of the Definitex app being a singular platform and not just a wallet.
We’ll be updating the website shortly, that’ll preview some of this, and of course to add links to our coveted Audit reports.
In the meantime, you can get them below:

Undeployed Beta Staking Contract Audit:
https://www.definitex.org/assets/Audit_Institute_Definitex_Staking_Report_v1.0.pdf
Deployed Staking Contract Audit:
https://www.definitex.org/assets/Audit_Institute_Definitex_Staking_Report_v1.1.pdf
Token Contract Audit:
https://www.definitex.org/assets/Audit_Institute_Definitex_Token_Report_v1.0.pdf

Happy reading!

Next time on Medium:
DEV’s CORNER, a catch up with lead developer “Iron Mike” Taylor.

Till then Keep it Locked.

<EDITED FINAL VERSION>

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Definitex

DFX brings the de-centralized finance experience to the mainstream, providing a definitive solution to traditional loans. To Definitex… & beyond!!!