NFT

Validator NFT Security Audit Report by BlockSec

stakefish

22 Nov 2022 — 3 min read

We are thrilled to announce that our latest Validator NFT product contract has just undergone a full security audit by BlockSec, a well renowned and trusted entity in the blockchain security space and has been given a clean bill of health.

The report is a major milestone in our groundbreaking Validator NFT product and on the back of this news we are very close to launching our early beta testing phase before going live in early 2023.

Stake & Mint are stakefish Validator NFTs that map 1:1 with an Ethereum validator, with the NFT reflecting the four states stakefish supports for staking: Depositing, Active, Withdrawn, and Exiting.

This process of mapping will make it simple for stakers to convert 32 ETH to a single NFT representing their ownership of the Ethereum validator.

In itself, this NFT is like any other NFT. Yet, when ownership of the NFT transfers, the ownership of the validator changes along with it. The NFT carries control of the validator. Users can request validator exits with ownership of the NFT once withdrawals for Ethereum staking enable.

In the future, the owner of the NFT will be able to withdraw the principal deposit, protocol rewards, and the claiming of MEV fees and priority tips. Additionally, there are potential use cases to unlock such collateralization to get liquidity in the future.

BlockSec focuses on the security of the blockchain ecosystem and collaborates with leading DeFi projects to secure their products. BlockSec is founded by top-notch security researchers and experienced experts from both academia and industry.

They have published multiple blockchain security papers in prestigious conferences, reported several zero-day attacks of DeFi applications, and successfully protected digital assets that are worth more than 5 million dollars by blocking multiple attacks.

BlockSec provides audits according to the following procedure

Vulnerability Detection
They first scan smart contracts with automatic code analyzers, and then
manually verify (reject or confirm) the issues reported by them.

Semantic Analysis
They study the business logic of smart contracts and conduct further investiga-
tion on the possible vulnerabilities using an automatic fuzzing tool (developed by our research team).
They also manually analyze possible attack scenarios with independent auditors to cross-check the result.

Recommendations
They provide some useful advice to developers from the perspective of good
programming practice, including gas optimization, code style, and etc.

Feeling geeky and want to dive into the full report, download it below?

Blocksec stakefish v10 signed

blocksec_stakefish_v1.0-signed.pdf

674 KB

As one of the largest and most trusted validators, stakefish has helped to stake over $1 billion worth of assets for both institutions and retail investors. stakefish has been providing validator infrastructure on Ethereum since the launch of The Beacon Chain in December 2020.

Now stakefish brings our same focus on secure, permissionless, community-focused non-custodial staking to Stake & Mint.