Lido Gets All-Clear Signal From Blockchain Auditing Experts Statemind

A detailed audit of Lido, the most popular Ethereum liquidity staking system, was released by the firm that led the success story. It prevented $350M worth damages from reaching the Avalanche Blockchain. 

Lido has received an “all-clear” signal from the report, noting no vulnerabilities. This is the report that Statemind, a new blockchain auditor firm, found in Lido. 

Lido Stateminds Billions Secure

Lido allows you to access liquidity and staked assets without locking up. There are Lido options for Ethereum, Solana and Polygon as well as Terra, Terra, Kusama and Polkadot.  Staking Lido results in the creation of staked tokens that are equal to your initial stake. You can use your staked tokens across DeFi to secure collateral for loans, yield farming and other purposes.

Lido is expanding its reach in liquid crypto staking, so it becomes crucial that the code be clean and free from potential problems. Millions of users are involved in a battle for billions of dollars. Lido has tasked blockchain auditing firm Statemind with reviewing its code and ensuring no critical vulnerabilities exist — and if they do, snuff them out before they become an issue. 

Statemind Launches Big, Saves Avalanche of $350M

Statemind achieved this feat, but not for its usual clientele. It also made a big splash in the crypto development community. Avalanche’s and the associated blockchains were discovered to have a serious vulnerability after proactive reviews of many top-ranked blockchains. Statemind managed to rescue more than $350M of the estimated damages. 

Statemind was asked to conduct reactive Lido Research. It found no high-severity, critical or severe bugs. Statemind said that they found only informational bugs, which can be easily fixed and do not pose a threat. 

Report on the Lido Audit Report: Results and Recommendations

Statemind also provided details about the MEV Boost relay permitlist project results as well as the Lido audit. a nine-page report. According to the report, the on-chain relay allowlist is “used by Node Operators participating in the Lido protocol after the ETH Merge to extract MEV.” Node Operators use the contract to ensure up-to-date software configuration at all times.  

“Key recommendations involve checking the number of relays right after the msg.sender check, removing the zero address check for msg.sender, checking if the token address is a contract in the function _safe_erc20_transfer, and utilizing mapping that maps URI to index of relay in the array,” Statemind explained in a blog post. 

The Statemind Safety Audits 

Lido is just one of many of Statemind’s clients, which also include 1INCH and Yearn.Finance. Statemind is an innovative blockchain security auditoring firm that has over 100,000 LoC Solidity/Vyper experience. Statemind’s audits have already helped secure over $10B worth of TVL so far. The examples below only add to the rapidly growing number. Visit to learn more.

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