LiquiFi x Sherlock: Securing "Carta for Crypto"

Sherlock is excited to announce its latest collaboration with LiquiFi to write $10M of smart contract coverage directly behind Sherlock’s audit.

This coverage will provide recourse for LiquiFi’s end users up to their pro-rata share of LiquiFi’s TVL.

Sherlock is a risk management platform built to help protect crypto end users by uniquely aligning incentives with protocol teams by auditing their smart contracts and providing recourse through smart contract and bug bounty coverage in the event of an exploit.

LiquiFi is building the “Carta for crypto”, providing protocols with token vesting and token cap table management solutions. With LiquiFi, protocols can automate their token vesting, manage compliance, and provide token holders greater visibility into their ownership.

Sherlock x LiquiFi Security Partnership

The team has worked closely with Sherlock in recent months to prioritize secure development first and foremost in an effort to bring LiquiFi’s customers a trustworthy experience. Alongside a complete Sherlock audit and $10M of smart contract coverage, LiquiFi will also implement a $1M bug bounty through Immunefi, which is fully paid for by Sherlock.

By writing coverage directly behind Sherlock’s audits, we are excited to partner closely with the future success of LiquiFi and share in the burden of their users’ risks by more closely aligning all parties’ incentives. Sherlock’s confidence in our Watson security experts puts us in a unique position to continue supporting LiquiFi’s development roadmap, and Sherlock is committed to assisting LiquiFi with interim reviews of updates to their code over the next 6 months. This way, LiquiFi can continue to deliver innovative upgrades for their customers in a secure manner, all while maintaining their smart contract coverage.

The steps taken to secure LiquiFi include:

  • Audits from Sherlock and Quantstamp + fix reviews to ensure proper implementation of updates
  • $1M Immunefi bug bounty provided by Sherlock
  • $10M in smart contract coverage at launch
  • Continued collaboration with Sherlock during the development cycle to review updates and maintain coverage
  • Development best practices in test coverage, peer reviews, and code complexity

LiquiFi’s Innovative Approach to Token Vesting and Web3 Cap Table Solutions

LiquiFi provides a wide range of tools for vesting schedules, from weighted, non-linear, and custom models to assist protocols in creating optimal long-term incentives to retain and attract employees and tokenholders.

Their monitoring tools enable constant visibility for the protocol team into various vesting schedules to keep track of upcoming unlocks and which tokens have already been distributed. This transparency extends to a protocol’s employees and investors, giving them the confidence and tools to track all needed information around vesting schedules, minimizing the time a protocol team needs to spend answering administrative questions around token distribution.

This system also has the advantage of providing tax compliance and financial reporting tools, as LiquiFi’s system helps minimize the complexities of administering payroll taxes by managing the token vesting distributions and token tax withholdings automatically. 

Keep up with LiquiFi:

Follow along on Twitter, Discord, and their resources page

Read more about LiquiFi

Keep up with Sherlock:

Follow along and get involved on Twitter, Discord, and through our website

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