Certik Approval

[Hopegood]

Some of the DeFi AMM platform prove their legitimacy through passing Certik Audit while some dont have Certik Audit endorsement. My question is , does it mean all DeFi  being audited by Certik are safe and legit to invest? I want to know what it takes to know and chose Legit DeFi project .

[1714809377]

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[1714809377]

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[X-ray]

It doesn't mean all of defi being audited by certik was safe but this is to decrease the possibility for the critical code to appear and when there's a hole in the code and it can be fixed. The exchange sites were also making certik audit has become a new standard to make sure the code was safe and it doesn't have critical bug. i have been hearing this by some developers if exchange sites will need certik audit to list a new token.
There must be a regular audit by various parties to make sure the platform will always be safe from the critical bug that can be a disaster to the platform.
Any auditor will have used the different metric to make sure the code was safe. Second layer audit totally needed after a platform was fully audited by certik and this must be done by another party with different metric

[vv181]

Any project/platform that is being passed by Certik audit doesn't mean it will be flawless, it just means they are being audited. There is no guarantee that the project itself is safe or legit by only judging by their approval/certification.

For example, take a look at the recent breach of Vee Finance. The project itself was audited by CertiK, but still, they got exploited. You better to do your diligence researching many aspects of the project itself rather than relying on CertiK.

[Pom_bensin]

Some of the DeFi AMM platform prove their legitimacy through passing Certik Audit while some dont have Certik Audit endorsement. My question is , does it mean all DeFi  being audited by Certik are safe and legit to invest? I want to know what it takes to know and chose Legit DeFi project .

not 100% certix audited projects are safe. but adds confidence to investors to join. and reduce the risk of scams. I think certix is influential to help investors and as evidence for investors to be safe there

[Gayong88]

If I'm not mistaken, the main requirement for crypto to be listed on a large exchange like Binance is that crypto must be audited, so the main choice of crypto auditors is Certik. Certik is the #1 auditor on Binance Smart Chain and also the insurance company DeFi Apps, auditing BUSD, Tether, CAKE, BAKE, AAVE, Safepal, and other big brands. and can be used as a good reference: https://coinmarketcap.com/currencies/certik/markets/

[haidil]

Not everything in Certik audit indicates safe and not everything that is completely secure has been audited by Certik. Certik is indeed one of the standards set as a classy auditor, probably at least 95% of the security level. For the remaining 5% is something that later becomes a possibility as something that can be said to be unsafe. So it's not mandatory, but if you do your own research, at least not only Certik is used as a reference source.

[Bitstar_coin]

It shows some degree of trust on the part of the project, not all defi project can go through the audit process because some of them don't have the requirement, so passing certik approval is a big deal and any project who got it is more legit than others.

[Jaered]

Certik audit is just a way of giving a measure of legitimacy and trust. However its not 100% or close, and Certik themselves would be the first to tell you that. Always DYOR

[khiholangkang]

Some of the DeFi AMM platform prove their legitimacy through passing Certik Audit while some dont have Certik Audit endorsement. My question is , does it mean all DeFi  being audited by Certik are safe and legit to invest? I want to know what it takes to know and chose Legit DeFi project .

Yes it's legit, but that doesn't mean the project is a success
Certik only audits the smart contract of the project, whether or not there is something wrong with the contract, but what determines the success of a project is the performance of the project team itself.

[noorman0]

As far as I knoe, either Certik or other firms audit only certain parts of the code/smart contract (depending on the client's request), not all of them. The contract audit firm will offer some kind of audit package to its clients and one project can choose several audit firms at once that handle different parts of the smart contract/code (perhaps for price reasons).

As some of the members said above, a project that has been audited is not necessarily guaranteed to be safe. Also, some reckless actions of the project team could damage audit certificates like a hacked defi project had a few months ago.

No, neither of them admitted that this was the result of their audit. LOL

Mixbytes claims they did not audit the part of the contract that was the target of hacking, they only audit other contracts.
Source: https://twitter.com/MixBytes/status/1330413943148441602

HAECHI claims that the contract which is the target of the hack is a new contract that is not subject to the security audit.
Source: https://twitter.com/haechi_audit/status/1330347468802973698
I'm not a coder to ask questions: how the contract that triggers the hack can be said to be not subject to a security audit?

This would put Pickle even more into the corner.

-snip-
So it means the Pickle Finance run a new contract (yesterday they tweeted about such update) which wasn't audited for security and putting the funds of contributors at risk.

[cryptoaddictchie]

Some of the DeFi AMM platform prove their legitimacy through passing Certik Audit while some dont have Certik Audit endorsement. My question is , does it mean all DeFi  being audited by Certik are safe and legit to invest? I want to know what it takes to know and chose Legit DeFi project .

Im not so sure about that. Exploitation has always had risk whether the smart contract is audited or not. But its always a safe investment that the project done their audits. There are still some reported case of exploited smart contract but it doesnt mean certik security is weak. Its just that there are some lapses or glitches on those projects.

[domoy77]

Some of the DeFi AMM platform prove their legitimacy through passing Certik Audit while some dont have Certik Audit endorsement. My question is , does it mean all DeFi  being audited by Certik are safe and legit to invest? I want to know what it takes to know and chose Legit DeFi project .

I also don't know about it so far, but I also have a few questions for you, why do you like DeFi so much that you have to make questions like this in the discussion forum? although I think this is also very good to know because it is a very decent question.

[terciduk123]

Some of the DeFi AMM platform prove their legitimacy through passing Certik Audit while some dont have Certik Audit endorsement. My question is , does it mean all DeFi  being audited by Certik are safe and legit to invest? I want to know what it takes to know and chose Legit DeFi project .

I can't say that every project that Certik audits is 100% safe. Certik provides blockchain audit services. Certik performs four different types of audits: Token Contracts, Custom Start Contracts, Wallets and DApps, and Blockchain Protocols.
Certik only helps us to avoid projects that intend to commit fraud.
To choose a good project whether it's DEFI or not all you need to do is do some research on the project. DYOR