The final audit report of the XENFT and XEN Torrent protocols was released on December 27. The CertiK auditing company has been charged with performing the security assessment. This is the same company that has previously conducted the audit of the XEN Crypto smart contract. This is also the date that marks the launch of the smart contracts in question that contain the start function at a specific Ethereum block height.
What was the scope of the audit
XENFT is the brainchild project of Jack Levin, Leonid Belyaev, and the Fair Crypto Foundation. The repository of the project audited by Certik can be found here GitHub – FairCrypto/XENFT: XENFT (ex XEN Torrent) Contract. The auditing company released the preliminary report on December 23.
The XENFT code base interacts with the XEN Crypto smart contract, which is considered a third party. According to Jack Levin, there was a misunderstanding, and CertiK reviewed the XEN Crypto smart contract for the second time without finding any issues, which makes the project even more secure than before.
The good news that Certik audit the original XEN contract twice -- so now we have it double verified to be solid— Jack Levin 🟧🦇🟦 (@mrJackLevin) December 23, 2022
Security assessment pertains to the upcoming XENFT project that implements the XEN Crypto ERC-20 smart contract as a minting token that can also be burned through the burn function contained in that contract. XENFT is an ERC-721 NFT (non-fungible token) smart contract interacting with the ERC-20 smart contract to act as a XEN Torrent protocol that automates the execution of on-chain transactions, maximizing XEN (ERC-20) mint. The mechanism virtualizes Ethereum addresses used to claim cRanks to create Virtual Minting Units, or VMUs, controlled by a user via a XEN Torrent smart contract.
The user’s interaction with the XEN Torrent protocol is divided into two phases. One is controlled by the count and term parameters, which bulkClaimRank and create a number of VMUs and a XENFT token. The bulkClaimMintReward triggers the second phase. The XEN tokens are minted to the user’s original address or any other address of the user’s choice. The VMUs are destroyed, while the original address can be reused for minting new XENFT. “Each newly issued XENFT represents an access control right to the bulk XEN minting operation,” as described in the XENFT Litepaper.
What are the findings of the audit
When is XENFT launch
Jack Levin announced on Twitter that the XENFT launch will be different from the usual XEN Crypto launch on different chains. The smart contract deployment was usually announced on the official xen.network website and his Twitter account, followed by announcements on Telegram and other social media channels.
This time, Mr. Levin wanted to publish the contract ahead of time so that it could be reviewed by the public before the launch and directly implement the launch code in this smart contract, which contains the number of the future block that will mark the start of the minting execution capabilities. Jack Levin is targeting Friday 30 December as the XENFT launch day.
We have received the final audit, we are looking over the final details and will likely start the countdown today, targeting Friday (unless we have some serious issue): pic.twitter.com/3rR2lVOmKf— Jack Levin 🟧🦇🟦 (@mrJackLevin) December 27, 2022