Marginly Set to Undergo an Audit with Quantstamp Ahead of Protocol Launch

In the realm of decentralized finance, ensuring the security and reliability of protocols is paramount. Recently, Marginly joined hands with the globally recognized Quantstamp, the foremost international auditor with a mission to secure the decentralized internet.

Audit Commencement

Scheduled to start on August 21, the audit comes before the imminent deployment of the highly anticipated V1 of the Marginly Protocol. This audit not only reinforces the integrity of Marginly’s underlying technology but also enhances trustworthiness among its users and the wider DeFi community.

The detailed audit underscores Marginly’s dedication to offering a robust protocol. Full details of the audit will become available once the audit is completed.

Here are some features to expect in V1 of the protocol:

• Uniswap v3 Pools Integration: Marginly is set to support Uniswap v3 pools, a cornerstone of the protocol’s functionality.
• Integrations with multiple DEXs on Arbitrum, Polygon, and zkSync networks
• Multichain Router Functionality: A key feature that allows for supporting multiple exchanges at once
• Marginly Pools Factory & Logic: This refers to the pool registry contract and liquidity pools contracts where all of the leverage trading magic happens.
• Position Heaps and Auto Liquidations: Marginly stores user positions in maximum and minimum binary heaps which allow the riskiest long or short position to be automatically liquidated if it exceeds max leverage allowed in the system.
• Auto-Compounded Interest: By leveraging an advanced architecture of system-wide coefficients, the protocol can automatically compound interest rates, offering users higher yields. When traders lose, liquidity providers earn.
• Auto Deleveraging: Protocol design allows for an unconventional approach to auto deleveraging to avoid inefficiencies caused by liquidations.

Post-Audit Developments

Once the audit concludes, the team will consider Quantstamp’s feedback and make sure that the protocol is safe and secure before hitting mainnet. Next, Marginly has its sights set on launching a seamless and intuitive user interface after processing all of the user feedback received from the testnet contests. The aim here is to position Marginly as a top contender in the DeFi landscape.

Community Engagement

In a bid to foster community engagement, Marginly has created a dedicated Discord channel with the aim of gathering insights, feedback, and suggestions on improving the protocol. We have some interesting ideas for Marginly V2 and would like to discuss them with the community. The ultimate goal of this discussion is to come up with a unique feature set that addresses community needs, wishes, and concerns to the fullest extent thus putting Marginly on pole position in a race for mass adoption. Feel free to join the discussion and share your thoughts: join the Discord channel here.

In Conclusion

By completing an audit with Quantstamp, Marginly showcases its commitment to security, transparency, and excellence. Quantstamp’s focus and expertise in DeFi as well as blockchain security makes them a great fit for the task at hand ensuring that users enjoy the highest security standard with Marginly.

Quantstamp is a global leader in blockchain security, on a mission to secure the future of web3.

Founded in 2017, the team has honed their expertise through hundreds of audits and worked with some of the top projects in the industry including Maker, Compound, Polygon, Arbitrum, Sandbox, and many more. To date, Quantstamp has performed 600+ audits and secured over $200 billion in digital asset risk from hackers. In addition to providing an array of security services, Quantstamp facilitates the growth and longevity of the web3 space through strategic investments and acting as a trusted advisor to help projects scale. To learn more head to Quantstamp.com or follow on Twitter @Quantstamp

Marginly is a margin trading & derivatives layer on top of AMM liquidity that allows users to take up to 20x leveraged long and short positions in places where leveraged trading never existed before. It supercharges DEXs with additional functionality out-of-the-box, additional trading volume, and aggregated liquidity. Marginly addresses major DeFi challenges: no oracles, no liquidations, risk-based interest rates, and long-tail assets trading.

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