Risks & Audits

Smart Contracts Risks

The protocol will be interacting with a number of smart contracts, all of which imposes risks. This can be both known and unknown risks that could result in the failure or vulnerability on the smart contracts which could result in assets being locked or lost forever.

Liquidation Risks

Assets that are supplied or borrowed on the protocol could fluctuate in value due to the systemic risks of the issuing platforms or market volatility, including the loss of peg of certain pegged assets. This could result in the liquidation or closing of a user's position.

Risk Assessment & Management

BENQI works closely with Gauntlet on the risk assessment and management of assets for the BENQI Liquidity Market (BLM) to safely maximize capital efficiency.
The BENQI Gauntlet Dashboard outlines the simulations and recommendations by Gauntlet:
Gauntlet Autogov

Audits

BENQI will be continuously pursuing security audits for the protocol. However, security audits don't eliminate risks completely. Please do not supply your life savings, or assets you can’t afford to lose, to BENQI, especially as a liquidity provider.
BENQI Liquidity Market (BLM)
May 2021 - Halborn Audit (Smart Contracts)
Benqi_Smart_Contract_Security_Audit_Halborn_v1_1.pdf
6MB
PDF
BENQI Liquid Staking (BLS)
November 2021 to February 2022 - Halborn Audit (Smart Contracts)
Benqi_LiquidStaking_Smart_Contract_Security_Audit_Report_Halborn_Final.pdf
3MB
PDF
April 2022 - Certora Formal Verification
benqiApril2022.md-Grip.pdf
375KB
PDF
June 2022 - AAVE v3 sAVAX Formal Verification and Listing Stewards Audit
stweard-savax.pdf
296KB
PDF
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Outline
Smart Contracts Risks
Liquidation Risks
Risk Assessment & Management
Audits