At Symbolic Software, we recently concluded an extensive audit of the Native Labs smart contracts. We’re excited to share our findings and offer our perspectives on the strengths and areas for improvement.
Native Labs offers a decentralized exchange system that focuses on operational efficiency, code quality, interoperability, on-chain and off-chain transactions, liquidity models, and user experience. Our evaluations aimed to present a holistic view of the smart contracts’ functionality, efficiency, and usability.
Audit Methodology and Focus Areas
Our audit covered the following aspects:
- Performance Evaluation: We assessed the operational efficiency, with emphasis on gas usage, scalability, and transaction speed.
- Code Quality Inspection: This centered around code readability, maintainability, and best practices.
- Interoperability Review: We examined the integration capabilities with both internal and third-party entities.
- On-chain and Off-chain Analysis: We investigated the handling of transactions, ensuring their accuracy, security, and effectiveness.
- Evaluation of Liquidity Models: We delved into the liquidity models provided by Native.
- User Experience Audit: We gauged how the smart contracts impact the overall user experience.
Key Findings and Recommendations
- Performance: The smart contracts showcased sufficient efficiency, with optimized gas consumption leading to reduced transaction costs. However, given the evolving Ethereum gas landscape, continuous monitoring and optimization are suggested.
- Code Quality: Despite some inconsistencies in coding style, the comprehensive documentation provided by the Native team played a pivotal role in our understanding of the codebase. We recommend the adoption of a consistent coding style and possibly leveraging a linter.
- Interoperability: The smart contracts demonstrated impressive interoperability capabilities, especially with significant platforms like PancakeSwap, Uniswap v3, and 1inch.
- On-chain and Off-chain Operations: The system effectively handles both transaction types. We advise the team to consistently review these operations, particularly in light of potential changes in the blockchain environment.
- Liquidity Models: Native’s models proved efficient and user-centric, although we emphasize the need to educate users on potential risks like impermanent loss.
- User Experience: The contracts excel in accessibility, transparency, and ease of use. Regular user feedback will be invaluable to further enhance the user experience.
Read the Report
Our comprehensive audit reveals that the Native Labs smart contracts are developed meticulously with a clear focus on user experience, performance, and security. While there are areas for improvement, the overarching impression is positive. These insights should provide users and stakeholders with a more profound understanding of the platform’s integrity and reliability.
To dive deeper into our analysis and findings, you can download the full audit report.
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