1/15 With the incoming ETH merge talk, Proof-of-Stake mechanisms have been a hot topic. What better fitting chain review today than a Pure PoS system in Algorand? Silvio Micali’s blockchain has competed comparably well with other well-rated blockchains from our chain scores. 2/15 To start off, Algorand’s 1400+ nodes network is a positive indicator of decentralization for software maintenance. Through relay/participation nodes, Algorand’s software has significant support, although we could not find information on geographical locations of nodes.

(1/7) @1inch leaves us feeling satisfied today - it's the motion of the ocean after all 🥴At 84%, it's a recipe for a seductive protocol. (2/7) 1inch is quite clear on how their code gets their users going (to swap), and this is done so with clear architecture docs as well as relevant information pertaining as to contract ownership. They've shown you theirs!

(1/8) @OndoFinance, with its 🌊 inspired design, arrives shooting in on a nice left with the high tide coming in at an impressive 81%. A protocol that aims this high should be transparent, and Ondo is. (2/8) Popping up in front of a 6fter, Ondo takes control with some clear documentation relating to how their contracts function. We're also pleased by their public repositories, but note that due to private development process there is limited development history.

1/7 Maple serves up a sweet, thick and delicious offering with a 91%! Their clear and replicable development process leaves us wanting to lick our (and others) fingers! 2/7 Maple has done some good work since our last report, though as a testament to our increased difficulty their score is 1% lower.

(1/14) @Cardano has been systematically developing their blockchain for some years now. These academics, armed with Haskell, have done a relatively good job in ensuring good development process trending towards high network security. (2/14) Cardano has yet to experience unplanned downtime. Holding up as a top 10 market cap platform, the chain has been stable and delivered on sustained runtime. Perhaps we could attribute this stability to the platform’s peer-reviewed approach to development.

1/4 Meshswap is a DEX on Polygon that receives a 60% score. This is down to a variety of reasons. We noted their oracle information with great interest. 2/4 Meshswap has poor development history but at least they've got a public repository. They document no public testing in this repository - that's in need of improvement.

(1/25) @avalancheavax has done a good job in burying us with proof of good process quality. While some areas are in need of improvement, they’re only bested by Ethereum in terms of secure development practice. Let’s hit the slopes and figure out why 🎿🎿🎿 → (2/25) @avalancheavax has never gone down. This is impressive given the record of other smart contract L1s. The network has experienced massive load and it has met the demand - this is critical for any chain.

1/9 @dYdX has well integrated itself as a leader in process quality. A high score is backed up by great real-world crisis management and all this leads us to a strong update into our records. 2/9 dYdX's public team does an excellent job at explaining their testing methodologies. Testnet deployments, perfect code coverage and scripts for users to replicate the tests themselves are all documented.

1/21 @0xPolygon has some areas in which it shines in process quality, but also has some areas which seem too rushed to allow us to feel fully confident. Let’s dig into the details downstairs🪜 #DeFi 2/21 Polygon has a relatively good technical risk rating. However, for the next 6 months, their score is suppressed due to chain downtime as per guidance. With this nastiness out of the way, let’s consider what they do well. thedefiant.io/polygon-outage…

(1/7) 🚀 We have a new top 3 arrival within our PQR high scores. @AngleProtocol, specialized in stablecoins pegged to the Euro, issues spectacular documentation and offers minute details as to every angle of their protocol. #StableCoin (2/7) Software documentation is a hard process to go through and siding the likes of Synthetix, AAVE, Liquidity is nothing short of an accomplishment. Great testing suite, spot-on smart contract documentation, clear admin controls, What does Angle not cover..? Nothing, it seems.

1/21 Tempted by $USDD to bridge to @trondao? That supple and bouncy claimed 30% APY offering comes with a few strings attached. Let's dig in and make sure you don't regret it the morning after —> 2/21 Let's start with nodes: TronScan claims some 6000+ operate. This is impressive! Ethereum doesn't have this many. However, when you look at their documentation, they use a 27 node "Super Representative" system. What this indicates to us is that 27 nodes validate.

1/7 Bancor, or as @IamSuperMassive likes to call them "the (unkillable) cockroaches" of DeFi, keep up AND surpass their invincible process quality record. They've increased an impressive 6% from a base of 90% despite our review system growing more complex. 2/7 We have nothing but praise to say here. Flawless explanations for both developers and users relating to how the protocol functions, great audit hygiene, a delicious bug bounty offering ... we could go on. Truly outstanding work dears.

1/28 Due to repeated downtime, @solana has the second worst final technical risk score of the 15 chains that we have reviewed so far. Only @Ronin_Network has a lower score at this point. This is for a variety of reasons. 🫤 2/28 Firstly, Solana's base score is low. Despite a public software repository and some good documentation, their infrastructure relating to nodes is subpar.

1/5 Concocting the magic potions of #DeFi, Alchemix does not fail to provide the right recipes for its code documentation. With impeccable security, admin controls and documentation, the protocol is a great broom to ride through your DeFi wizardry.
Final score: a whopping 80%. 2/5 To support this high score, thorough audits and a high bug bounty reward proved to be the winning formula for this magic potion. Add into the (Alche)mix their straightforward smart contract change capabilities and ownership roles and you get yourself a valuable elixir.

1/9 Impossible Finance has defied the realms of reality this past month, raising its score to an outstanding 94%. With brand new documentation to showcase information of vital importance, the team has shown a commitment to expert-level process quality 🧵⬇️ 2/9 Firstly, the launchpad provider had a decent running start in our core transparency metrics. Addresses are public and easily found, devs are doxxed, technical documentation was present, and the well-maintained GitHub contained fully open-source software.

1/7 Over the past two months, Synthetix has worked hard to achieve a 97% score, and is tied for the current top score with @LiquityProtocol ! As such, it is time to syntherely congratulate the protocol and underline what went into this groundbreaking effort. 2/7 First, Synthetix has always had a rock-solid base. Its technical documentation is anything but artificial and does a great job at covering its entire smart contract architecture. Moreover, the traceability of the source code implementations is excellent.

1/ @friktion_labs irritates the open-source spirit of DeFi with a closed source repository. Despite a proudly public team with some good oracle documentation, Friktion does not glide anywhere near to a process quality pass. 2/ Thanks to a whitepaper and some software architecture, they score a reasonable 43% on our documentation section. In addition, their clear links to Pyth explain their oracle well. We'll nonetheless advise our users to go get some aloe vera if they want to use this protocol.

Today, instead of our usual review, we have decided to give you our analysis of the $15b Convex Finance vulnerability from a process quality point of view.

This analysis is primarily provided as a Medium article, written by @nvy_0x, which will be linked on the last tweet.

TLDR; 1/10 Almost five months ago, @ConvexFinance was harboring one of DeFi’s largest known vulnerabilities. Through a convoluted process, @OpenZeppelin was able to help patch up the potential exploit. Although both teams performed admirably, there are a few things to note.

1/5 Ribbon has done a great job at ensuring that it's a more beautifully wrapped present. In both updating their own documentation as well as making a few things clearer for our own analyses, we're elated to tie a bow on this one and give them a well-deserved passing score. 2/5 Ribbon's passing grade comes from focusing on clear oracle information. This is especially vital as this is a derivatives exchange, making the data the contracts are dependent upon incredibly important. Since they're based on Opyn, they inherit the tried and true Chainlink.

1/4 Allbridge is falling down with 28%, and it's not pretty. At $400m TVL, the protocol and its team reflect subpar development practices with a low-quality token audit, absence of details regarding their Access Controls, and a minimal amount of perceivable GitHub development. 2/4 We would also like to point out that @Allbridge_io audited contracts are in a private GitHub, therefore making the contents of the audit untraceable and unverifiable. This paired with no Bug Bounty, it is hard to gauge the protocol's commitment to security.

1/4 With a 90%, Astroport enters our review catalog as the #1 scoring protocol on Terra and one of the highest-rated DEXs we have reviewed. The protocol excels in all areas of software documentation and is especially focused on providing its users with all the necessary details. 2/4 Most notably, the team has partnered with Immunefi to offer one of the largest Bug Bounties hosted on the white hat platform. Along with a pair of audits, @astroport__fi clearly takes the security of its protocol very seriously. #DeFi #Terra