ReHold & CertiK: Strengthening Security Frontier and Transparency In DeFi

Trading in the decentralized finance (DeFi) space can be tricky for an ecosystem where billions of dollars are lost due to several issues like security vulnerability and hacks, among other unforeseen circumstances. This is why users should prioritize trading or using a secured DeFi platform. 

CertiK’s validation of ReHold as a top 15% decentralized finance platform regarding security and other core metrics is important because it certifies the level of commitment and dedication that went into the company's security and development of several of its features, like the Dual Investment. 

 Key Summary

• CertiK, a leading blockchain auditing organization, scores ReHold security as the top 15% globally — confirming that ReHold is safe to use.
• Zero critical security issues were discovered, and the result of CertiK’s audit places ReHold in the top 10 percentile.
• ReHold ensures its platform is safe for users by introducing a bug bounty program to help spot vulnerabilities and depends on Hacken — an auditing firm — for continuous monitoring.
• ReHold is the first decentralized Dual Investment platform allowing users to enjoy higher yield within a shorter investment cycle — 12- or 24-hour.
• Dual Investment by ReHold is a short-term staking plan that allows users to stake token pairs like ETH/USDT for higher Annual Percentage Return (APR).  

What is CertiK

CertiK is one of the leading security audit firms in the web3 ecosystem known for contributing to the safety of notable web3 and blockchain exchanges and protocols, including Binance, Crypto.com, Kava, Decentraland, PancakeSwap, etc. 

CertiK relies on edge-cutting and innovative technology like Artificial Intelligence (AI) to monitor and protect blockchains, protocols, and decentralized applications (dApps) built on them. At the time of writing, CertiK has audited over 4000 projects, discovered 60,000 security findings, and evaluated projects with over $369 million in market capitalization. 

Authenticating the Reliability of ReHold: CertiK’s Finding

Adding an air of trust and proof of commitment to being safe and secure is one goal that led to auditing with CertiK. And according to the audit result, ReHold has an overall security score of 70.96 percentile, putting it on the leaderboard as one of the most secure DeFi platforms globally. 

To achieve this overall score point, CertiK ranks many critical factors: code security, fundamental health, operational resilience, governance strength, community trust, and market stability. Following the review, CertiK ranked ReHold’s code security and fundamental health as the top 10% compared to other projects it has reviewed.

What A Top Percentile Code Security Means

Testing the security code of any project is one of the most important litmus tests to see if the platform is indeed safe to use for users. ReHold passed this category with a score of 89.75 over 100, putting it in the top 10% percentile. The code security generally accesses the step taken by ReHold in ensuring the code and development is secure.  

To determine code security, five (5) variables are considered; website scanning, audit history, audit quality, bug bounty, and repository activity.

• Website scanning involved using scanning tools to evaluate ReHold’s website security strength.
• Audit history examined whether ReHold has undergone any security check with a reputable organization which it has.
• Audit quality from CertiK checked the quality of the project audit report based on three core: scope coverage, number of critical findings, and percentage remediated. 
• Repository activity examination by CertiK measures ReHold’s software repository activity on GitHub.
• The final test was the big bounty program which checked whether we had a bug bounty program running.

The result from this series of variable checks kept our security score high, ranking 1642 in CertiK global ranking.

Zero critical issues were identified during the security check, uncommon among other DeFi platforms. For ReHold users, it means you can use the suite services on the platform without the fear of hacking, losing your data, or additional vital information. We've built one of the most solid security foundations in the web3 ecosystem, and CertiK attests to it. 

Image Via: Twitter

CertiK’s audit of ReHold came at a time when their cofounder, Ronghui Gu — a professor of computer science at Columbia University — said July was “really a dark month for the blockchain industry,” with “more than $300 million has been lost due to viruses, hacks, and scams.”

Standing out in a period of rife market conditions (bear market and incessant hacks) by remaining devoted to providing opportunities for users to generate passive income in the DeFi space through our services like Dual Investment is a significant achievement. We plan on taking the standard higher through several product improvements and implementations like the bug bounty program. 

Keeping the Security Standard High: Implementation of Bug Bounty Program

One of the ways to thrive in the web3 ecosystem is the continual product iteration and the introduction of new features, among several others. To achieve our security goals to keep our platform safe and secure for our users always, we introduced the bug bounty program with over $50,000 in rewards. 

The bug bounty program is a proactive measure that involves a specialist, often referred to as ethical hackers or bounty hunters, to identify potential vulnerabilities in our system, and they receive a reward for doing so. 

With the bug bounty program, we optimize our system to be safer for our users by eliminating potential exploits and building more trust as everything is transparent throughout the process while opening the opportunity to get rewarded. 

ReHold’s bug bounty program follows three stages, the first is the security assessment of our platform to spot potential vulnerabilities by bug hunters, the next stage is documentation and report discovery, and finally, we access the report and distribute the rewards accordingly to the bug hunter. The reward for the bug bounty program depends on our expert team's evaluation. 

The bug bounty program isn't restrictive and is open to anyone with what it takes to participate. Simply reach out via this email: [email protected].

Fundamental Health Check Of ReHold

Overall, the impact of these several security implementations and keeping the health of ReHold is visible in the fundamental health check of the platform.

The fundamental health check is a process that CertiK uses in verifying the capacity of ReHold. Similar to code security, several variables are considered here: the team and project transparency, structure, quality of documentation, and related indicators. 

The team's identity, measured by CertiK, determined whether ReHold is verifiable and noted who the founders of ReHold are by studying their backgrounds — the aim is for founders to have years of experience in the field. Quality assessment is a hands-on/ manual review and an automated process by CertiK’s analyst, who examined the overall quality of ReHold, our documentation, and, importantly, our roadmap. The final step approach was to confirm if the team members are duly verified and if web3 verifications are provided by trusted web3 KYC providers. 

The fundamental health score at the end of CertiK’s audit is 82.22. This puts ReHold in the top 10% of projects with healthy and functioning systems, as expected by every other DeFi project. 

Safeguarding ReHold: Other Component Considered 

Other notable elements drawn from CertiK’s analysis of ReHold's performance as a secured platform are community trust and governance strength. 

Governance Strength

ReHold ranks among the top 70% of the world for governance strength. The governance strength is the distribution ratio of whale wallet holdings versus community members' holdings. The result shows that ReHold stays committed to the pursuit of decentralization by giving users the power to contribute to the company's growth.

Community Trust

Community Trust remains another core part that ReHold has handled brilliantly. This is the social analysis of ReHold and how users perceive our brand and their thought about our product across social media platforms like Twitter and Discord. The outcome of CertiK’s social monitoring system proves that ReHold is doing well. With over 16k followers in less than a year of launch and hundreds of tweets, this metric reflects that the community perceives our platform as a go-to choice.   

This reflects in the 4.5-star rating from Trustpilot — a leading third-party customer review platform. Showing a high satisfaction score and a delightful experience users get after trying our product. 

Why CertiK’s Security Audit is Important 

As explained earlier, security auditing is an important component of any web3 establishment like ReHold. Protecting our user's data, identifying the loopholes and threats, and helping build a robust security system and guidelines are critical.

CertiK’s audit because a part of its being a leading security audit company is that the company has developed a unique methodology for reviewing web3 platforms. This is why the auditing company has a huge portfolio of notable crypto and web3 brands, including Binance Labs, Polygon, Alchemy, CoinMarketCap, Standard Crypto, OKX, FalconX, Anima Brands, KCC, CoinGecko, among a long list of other platforms on its client's portfolio list.

CertiK’s methodology starts by obtaining the project's source codes and setting up the right environment; to identify flaws and vulnerabilities, expert auditors review the project’s documentation before running it on unique in-house tools; a report is produced, highlighting problems and recommending improvements. While this may appear effortless, each stage involves a lot more than it comes across.

Result From Previous Audit 

CertiK is one of many web3 auditing firms to ascertain that ReHold is a highly secured platform with solid fundamental health. 

PeckShield Assessment Of ReHold

PeckShield, a prominent web3 and blockchain auditor, made the same finding. In PeckShield’s assessment report on ReHold, no critical issues were found, and more notably, our bespoke Dual Investment was commended for meeting the expected safety threshold. A result like this reflects our long-standing commitment to delivering quality and prioritizing users' safety. 

PeckShield provides security services, including blockchain audit, smart contract audit, DeFi audit, and exchange audit. And have a client portfolio that includes some of the most reputable and renowned companies, including BNB Chain, dYdX, OKChain, Bancor, Curve, and Maker. 

Hacken Ongoing Monitoring

Hacken, another prominent auditor in the blockchain space, is also responsible for continuously monitoring ReHold’s smart contract. They provide a custom trigger and alerting system that keeps the ReHold team of experts in check in case of any suspicious activities. 

Hacken prominence leads it; with over five (5) years of experience in the space, 1,200 audited projects, and over 1,000 clients, including 50 exchanges, it's evident that they deliver the result.

Some of its clients are CoinGecko, Vechain, Avalanche, DAO Maker, 1inch Exchange, IoTex, Near, PolkaStarter, and CoinMarketCap. So far, these platforms and blockchains remain the most secure in the entire web3 ecosystem. With Hacken’s ongoing monitoring, our users can rest assured of their protected assets and a hundred percent transparency. 

More About ReHold 

ReHold is the leading multi-chain protocol that helps users maximize their potential crypto earnings through CLMM (Concentrated Liquidity Market Maker) with fixed annual percentage return (APR). ReHold takes the step further by optimizing their user's return with high yield within a short time frame — 12- or 24-hour investment cycles.

Beyond being the first decentralized Dual Investment platform, ReHold stands out for several reasons. One of them is its intuitive design and user-friendly interface, which allows beginners in DeFi to interact with the platform without restrictions. Its advanced technology opens room for different financial packages. 

Dual Investment is a short-term staking plan that allows you to stake token pairs like ETH/USDT for higher APR. Your return depends on your staying period.

Conclusion 

If anything is certain, ReHold’s ever-standing goal is to provide quality services and prioritize our user's security at all times. We ensure data privacy, funds protection, and smart contract safety, amongst other measures to guard our users.

Since ReHold’s inception, our commitment to our users has been unwavering. And we intend to keep the standards high always. The results from CertiK give a bigger perspective on how our priorities and commitment are truly maintained, especially in the DeFi space. In all, ReHold guarantees to keep providing high-yield, short-term investments for all our users.