OpenLeverage, a permissionless margin trading protocol with aggregated DEX liquidity, allowing users to long or short any crypto pair, has recently completed a smart contract audit with PeckShield, one of the leading blockchain security companies globally. Today, PeckShield has certified the OpenLeverage protocol to be secure.
OpenLeverage introduced OnDemand Oracle, which uses TWAP prices provided by Uniswap to protect positions from price manipulation and flash loan attacks while enabling lending and margin trading for arbitrary pairs with sufficient liquidity. It detects unreasonable price spikes such as flash loan attacks and forces a TWAP update and standing price for trades or liquidations. It also provides risk-isolated lending pools and built-in insurance to facilitate flexible and secure lending for leveraged trading.
Currently, the OpenLeverage test network is performing beyond expectations. At press time, over 31,000 unique addresses have accessed OpenLeverage’s testnet, with over 82,000 transactions processed from 126 lending and margin trading markets, maintaining more than 1,100 active positions. Over 500 feedbacks have been received regarding technical enhancements from the bug bounty program.
Earlier this year, OpenLeverage closed an oversubscribed $1.8 million seed investment round led by Signum Capital and LD Capital. The seed round also saw participation from other notable investors, including FBG Capital, Continue Capital, and YBB Foundation.
PeckShield Inc. is a leading blockchain security company with the goal of elevating the security, privacy, and usability of current blockchain ecosystems by offering top-notch, industry-leading services and products.
To learn more about OpenLeverage, please visit https://openleverage.finance.