#securityaudits

Security in a smart contract and protocol is probably the most important thing that you should focus on. MAXX is no exception when it comes to focusing on security we take it very seriously, to say the least. In order to ensure that the community of MAXX finance is safe from any exploits or hacks we are running the security audits in 3 stages.

1 — Third Party Auditor — We hired a third party auditor group Solid Proof that did  the smart contract testing for MAXX Finance and created an audited report. We have successfully completed this step. 

2 — Public Bug Bounty Hackathon — A public offering to test and hack the smart contract with rewards up to $25,000

3 — Community Testing — A community available portal to run the protocol in testnet and find issues or problems with the platform

4 — Final  Third Party Audit by Certik

MAXX Finance has 2 primary contracts, 12 initial contracts that were created and has about 200,000 lines of code. 

The first primary contract is distribution of $MAXX to the community; this is called the liquidity amplifier phase. This smart contract is fairly straightforward and will not require a security audit as the sole purpose of it is to collect $MATIC & Distribute free $MAXX tokens to the users. Below is an explanation of how this process works.

Liquidity Amplifier Phase Smart Contract — This contract specifically handles the distribution of $MAXX utility tokens which will allow you to enter a lobby over a period of 60 days to forfeit your $MATIC (POLYGON) Coin for your FREE $MAXX utility token. This contract will be responsible for the whole event of this exchange.

During this 60-day process, the second smart primary contract which is the MAXXStaking contract is going to be tested through a public bug bounty program that will give rewards to users in the form of payments USDT / USDC.

MAXX Staking Smart Contract — The staking contracts function is to allow users to remove the tokens from the supply and choose a duration in which they lock up their tokens in a smart contract & earn rewards in the form of $MAXX tokens. This is the primary function & the utility of MAXX tokens.

We are offering as much as $25,000 bounty programs to find flaws in these smart contracts. This will allow us to thoroughly test the smart contract prior to the ‘minting’ day of the liquidity amplifier phase.

Once we are done with this testing process, both internal & community testing is complete, the smart contract will then be sent to Certik for their third party audit. MAXX believes this is the best way to launch the protocol and ensure MAXX security to the community.

For more updates follow our twitter.com/maxxfinance