softstack Announces Successful Completion of Comprehensive Smart Contract Audit of Velvet Capital

Flensburg, Germany--(Newsfile Corp. - July 31, 2024) - Velvet Capital, a leading Intent OS streamlining DeFi portfolio management & social trading, announced the successful completion of a thorough smart contract audit conducted by softstack GmbH, a renowned Web3 security firm. The audit, which examined Velvet Capital's core v3 contracts of its latest product, found no critical issues and confirmed the platform's adherence to best practices in smart contract development and security.

Audit Velvet Capital by softstack

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The audit, conducted by two independent softstack experts, identified and addressed a total of 50 issues across various severity levels. Notably, no critical issues were found, with only 2 high severity, 4 medium severity, 21 low severity, and 23 informational issues identified. All issues were promptly addressed by the Velvet Capital team, demonstrating their commitment to maintaining a secure and efficient platform.

Yannik Heinze, CEO of softstack, commented on the audit: "As auditors, our goal at softstack is to ensure that our clients' systems meet the highest standards of security and efficiency. The recent audit with Velvet Capital was particularly insightful, showcasing their dedication to maintaining robust systems. We were impressed by the speed and efficiency with which Velvet Capital addressed the findings of our audit. Their proactive response not only underscores their commitment to security but also demonstrates a strong operational capability."

The successful audit marks a significant milestone for Velvet Capital, reinforcing its position as a secure and reliable platform in the DeFi space. It also highlights the company's proactive approach to security and its dedication to protecting user funds.

About Velvet Capital: Velvet Capital is an innovative platform revolutionizing DeFi portfolio management & social trading. Backed by Binance Labs, Velvet Capital integrates intent-based architecture and account abstraction to allow for seamless trade execution, yield farming, and strategy automation across multiple blockchain ecosystems. The platform addresses key pain points faced by professional investors, offering superior execution, smart routing, and multi-chain asset management capabilities. Velvet Capital's non-custodial vaults maintain asset safety without compromising management flexibility, making it a comprehensive, professional-grade DeFi operating system designed for both seasoned professionals and DeFi enthusiasts.

Velvet Capital just launched the app on Base and is coming to other EVMs over the coming months.

About softstack: Founded in 2017, softstack (formerly Chainsulting) is a leader in Web3 security and innovation. Based in Flensburg, Germany, the company provides professional software development, cybersecurity services, and consulting across major blockchain ecosystems. Softstack's expertise in thorough code audits, particularly for DeFi projects, has helped safeguard over $100 billion in user funds. With a commitment to transparency and excellence, softstack shapes the future of Web3 through ethical practices and close client collaboration.
For more information, visit https://softstack.io.

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