Liqwid Labs Receives Follow-On Funding in Catalyst

To the Cardano community and Liqwid ecosystem of aquaculturists,

Thank you for this continued support of the Liqwid protocol, trust in our development team and passion you bring to this project. We are delighted to announce both of our Fund5 Catalyst proposals received grant funding with our proposal for an independent security audit tallying almost 900 million in ADA yes votes (~$1.53B at current price).

On behalf of the entire development team we are truly grateful to complete development of the v1 smart contracts and enter an independent protocol security audit in late August. This follow-on grant funding will cover the costs for an end to end review of the on-chain Plutus contract code, penetration testing and technical assessment of the protocol’s smart contract security level before mainnet launch.

Our team has secured top Haskell engineering firm Tweag to complete the security audit and we have already begun preliminary steps with their auditors. The team at Tweag led by Manuel Chakravarty drove the Plutus design and technical architecture. For the past few months of development to better prepare the codebase for this moment our development team engaged Well-Typed led by Duncan Coutts for continuous code review and technical advisory services. These sessions were super valuable in helping scope out the Plutus design patterns, smart contract structure, tooling and contract parameter update methods to implement for our protocol to function best. The lessons learned from these discussions are reflected in the Liqwid on-chain and off-chain Plutus code, technical specification, code standards document, and the whitepaper.

To learn more about Liqwid check out our website and please join the Discord to discuss these topics and more!