What Is a Blockchain Protocol Audit?
It is the process of reviewing a protocol’s codebase and architecture to confirm that it complies with industry security standards.
Steps of Performing a Blockchain Audit
1
Freezing the protocol’s source code and sharing it with us.
2
Pricing estimation and receiving a quote from our team.
3
Engaging with your team to understand the protocol.
4
Conducting a comprehensive review of the protocol’s codebase and architecture for vulnerabilities.
5
Preparing a private audit report detailing any identified issues and suggestions to fix them if needed.
6
Receiving code updates and fixes from your team.
7
Conducting a re-check to determine if the vulnerabilities have been fixed.
8
Preparing and releasing a public audit report.
What Projects Need a Blockchain Protocol Audit?
Lending
Lending
Protocols for borrowing and lending tokens — Lending audit example.
Example of a lending protocol audit
Investment Platforms
Investment Platforms
Protocols that pay rewards for investments.
Example of a yield platform audit
Liquidity Staking
Liquidity Staking
Protocols that pay rewards for staking.
Example of a liquidity staking platform audit
Bridge
Bridge
Protocols that facilitate the transfer of tokens between different blockchains.
Example of a blockchain bridge audit
Why Choose Pessimistic?
Time Efficiency
Pessimistic delivers first-rate auditing services to clients. Thanks to our efficient auditing processes, we reduce delivery time and provide reliable support to our clients.
Experience
Pessimistic has delivered over 400 security audits to date with positive reviews. Our audits are manual and performed by at least two experts. You’re in good hands with us.
Cost-effectiveness
We spend most of our time on delivering code security and billing accordingly, minimizing complementary activities that add unnecessary costs. Our pricing process is transparent, with no hidden costs.
Long-Term Support
We provide ongoing support on a subscription basis, helping your protocol remain safe and functioning in the long term
Examples of Projects and Audits Performed
Feedback from our clients
Mikhail Melnik
Lead Blockchain Developer at 1inch
Working with Pessimistic is seamless and enjoyable. Clear communication, timely deliverables, and unquestionable expertise. Highly recommended.
Dan Kaizer
Azuro Core-Contributor
We’ve had the pleasure of working with Pessimistic since 2021, and their integrity and consistency have truly impressed us.
Not only do they deliver on their promises, but they also maintain a high standard of work throughout the project.
It’s a partnership we value and continue to interact with on a regular basis.
Evgeny Yurtaev
CEO & co-founder at Zerion
Our collaboration with Pessimistic since 2017 has been marked by a level of professionalism that’s hard to come by. Their work, especially in auditing our DeFi SDK smart contracts, consistently exceeds expectations and aligns closely with our business objectives. Their suggested solutions are not just effective but also tailored to our long-term goals.
Our Team of Professionals
These are our distinguished experts in blockchain technology and security:
We don’t only work on audits. We’re also skilled enough to teach the new generation of professional auditors that’ll help blockchain protocols operate securely and efficiently. Our Junior program instils valuable auditing skills in interested learners.
Leave your feedback and questions
FAQ
We limit sensitive information access only to vetted, essential personnel directly involved in the audit. Our employees sign legally binding non-disclosure agreements never to disclose sensitive information.
An audit is a comprehensive review of a blockchain protocol’s codebase, architecture, and design. This process is needed to confirm the protocol delivers the required functionalities and is compliant with industry standards.
We primarily offer manual audits. Our team checks blockchain protocols for security vulnerabilities and identifies enhancement opportunities, e.g., gas optimization. Our manual audit efforts involve a team of at least two experienced blockchain developers reviewing your protocol for architectural or security flaws, integration quality, and compliance with industry standards.
A blockchain audit reveals security risks, centralization and trust risks, integration-related issues, and performance-related issues with the protocol’s underlying code.
A blockchain project audit should occur after every code update to detect new risks. Users generally require new audits following code changes to be assured the protocol is safe. Audits are also a common requirement for exchange listing and venture capital funding.
A blockchain audit typically takes from a few days for a token to a few weeks for larger protocols. The exact timing depends primarily on the amount of code, its complexity and the number of issues we detect. If you’re on a tight schedule, we can move your audit to our priority track and handle it quickly.
We have delivered over 400 audits in the past, including for popular blockchain projects like Morpho, Lido, 1inch, Zerion, and Rarible. You’re in safe hands if you choose Pessimistic.
We have a team of well-versed experts in blockchain protocol architecture and security. We’ve been active in the industry since 2017 (basically since its inception), gathering high-performance teams and discovering hundreds of critical issues. We’ve applied our prior experience to build multiple security tools for smart contracts.
Our processes are so smooth that we devote 90% of our working time checking the codebase and a minor 10% to complementary works. Pessimistic dives deep into your protocol to identify any vulnerabilities that could cause problems down the lane. Our audits are primarily conducted manually and we provide ongoing support to help clients keep their protocols secure.
You first need to prepare technical documentation about your project. This documentation helps us understand your project and its goals. Then, run any necessary code tests and write needed comments on the codebase (following the Natspec format). The final step is to freeze your codebase to prevent any changes while we run an extensive audit. You can find out more about our audit process via this link.
We estimate costs based on the amount of code and your protocol’s features.
Our simplified formula for estimating audit costs is the Number of lines of code / 200 * 1.5 * the cost of one working day of the team.
Our final estimate is usually precise and doesn’t deviate from the actual time spent on the project by more than 10%.
We limit sensitive information access only to vetted, essential personnel directly involved in the audit. Our employees sign legally binding non-disclosure agreements never to disclose sensitive information.
Yes, we provide post-audit support on a subscription basis. For example, we offer our Spotter monitoring system to detect and counter potential exploits during their early stages before they can affect your protocol.
You can always count on Pessimistic to provide continuous oversight and expertise to support your blockchain protocol.
We apply a variety of tools and techniques to deliver an effective audit to clients. Our team of experts manually reviews your smart contract code to identify potential vulnerabilities. We also employ Slitherin, our automated code analysis tool, to help us identify these vulnerabilities. Likewise, we provide post-audit services to help your protocol stay secure and reliable.
No, we don’t fully audit blockchain projects in early development. However, we can provide consulting services at this stage, communicating with your team and providing feedback and guidance to help you develop the system securely and efficiently. Don’t hesitate to get a quote from us.
Yes, we share our findings in a private report, breaking down each issue and making suggestions to fix it where applicable and appropriate. We also share results with clients as we audit their projects, alerting you immediately to whatever problems we detect.
Expect honest communication when you hire Pessimistic to audit your blockchain project.