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Smart Contract Audit Meaning

A Smart Contract Audit is a professional, third-party security review of a protocol’s code. Auditors use a combination of automated static analysis and manual line-by-line inspection to find vulnerabilities like "Reentrancy," "Integer Overflows," or logic flaws that could lead to a theft of funds.

In a world where "Code is Law," an audit serves as the primary defense against catastrophic financial loss.The process usually results in a comprehensive report that categorizes bugs by severity (Critical, High, Medium, Low). A responsible development team will fix the identified issues and have the auditor verify the patches before going live.

However, an audit is not a "Certificate of Safety"; it is a point-in-time assessment that does not guarantee the absence of unknown "Zero-Day" exploits or flaws in future updates.Investors view audits as a "Bare Minimum" for trust. Protocols that refuse to share an audit report or use unknown firms are often flagged as high-risk.

High-quality audits from firms like OpenZeppelin, Trail of Bits, or Spearbit add significant "Social Proof" to a project, though the ultimate responsibility for "Due Diligence" still rests with the user, as even audited protocols can be exploited through external dependencies or oracle manipulation.

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Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

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