The Smart Contract Token Audit for SponB

CertiK | Aug 19, 2019

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As the blockchain ecosystem continues to grow, it’s no surprise that the technology continues to revolutionize different industries. SponB is the newest innovator in the space.

SponB is a platform that enables individuals and groups to play different sports through their blockchain-based platform. Users can create activities, including games and competitions, allowing both creators and participants to engage and receive SPO tokens as a reward.

The SponB platform uses Blockchain technology to empower players to choose team members from a ranking system. This ranking system takes into consideration a myriad of data the platform collects, including:

  1. Social Networking Data: From schedule management to facility reviews, the platform builds data in order to ensure an effective matching process.
  2. Previous Game Data: By collecting data on match success rates or history of participation, players can choose other team members with ease.

As activities on the SponB platform are inherently built with trust in mind, SponB needed a partner that was able to earn that trust and ensure their Smart Contract performs the way it should.

That’s why SponB chose CertiK to audit the design and implementation of the SponB token Smart Contract.

CertiK’s Audit Process

To ensure comprehensive protection, the source code was analyzed by the proprietary CertiK formal verification engine and manually reviewed by our smart contract experts and engineers. That end-to-end process ensures proof of stability as well as a hands-on, engineering-focused process to close potential loopholes and recommend design changes in accordance with the best practices in the space.

For every issue found, CertiK categorizes them into 3 buckets based on its risk level:

  1. Critical: The code implementation does not match the specification, or it could result in loss of funds for contract owner or users
  2. Medium: The code implementation does not match the specification at a certain condition, or it could affect the security standard by lost of access control
  3. Low: The code implementation is not a best practice, or use a suboptimal design pattern, which may lead to security vulnerability, but no concern found yet.

Overall, CertiK found the smart contracts to follow good practices. With the final update of source code and delivery of the audit report, CertiK concludes that the SponB contract is structurally sound and not vulnerable to any classically known anti-patterns or security issues.

About CertiK

CertiK is a blockchain and smart contract verification platform founded by top Formal Verification experts from Yale and Columbia University. Incubated by Binance Labs, Certik has strategic partnerships with the world’s leading crypto exchanges such as Binance, OKEx, and Huobi, as well as protocols such as NEO, ICON, and QuarkChain.

CertiK’s formal verification method works differently than traditional testing approaches: rather than working manually, CertiK mathematically proves blockchain ecosystem and smart contracts are hacker-resistant and bug-free at scale. CertiK has secured over $4B in asset value, auditing several projects across all major protocols, including BNB, Terra, Crypto.com, and TUSD.

To request the audit/verification of your smart contracts, please email audit@certik.org or visit certik.org to submit the request.

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