Risks & Audits
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.
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.
BENQI works closely with Chaos Labs on the risk assessment and management of assets for the BENQI Liquidity Market (BLM) to safely maximize capital efficiency.
The BENQI Chaos Labs Dashboard displays risk monitoring done on BENQI Liquidity Market
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
May 2021 - Halborn Audit (Smart Contracts)
BENQI Liquid Staking
November 2021 to February 2022 - Halborn Audit (Smart Contracts)
April 2022 - Certora Formal Verification
June 2022 - AAVE v3 sAVAX Formal Verification and Listing Stewards Audit