- Humble Swap promises to make DeFi safer and accessible to everyone.
- The platform was developed using the Reach environment on Algorand.
Humble Swap is a new decentralized crypto exchange . Their launch was scheduled for March 28, CryptoMonday learned from a press release. Among other things, it states that the platform has undergone rigorous security checks to ensure the safety of customer funds.
DeFi for everyone
Humble Swap is dedicated to making the world of DeFi (decentralized finance) safer and accessible to everyone. Not a bad idea considering how many hacks there have been on DeFi platforms lately. Just this week we reported how $320,000 worth of stablecoins were stolen on EVODeFi. Contributing to the security of the DEX marketplace is the fact that it uses the Reach programming language. It is said to offer one of the safest approaches to writing blockchain applications. The environment is built specifically for the Algorand blockchain , which will also run Humble Swap.
Before launching, Sandeep Kaur, Director of DeFi at Humble, explained:
This is proof that Humble Swap is one of the safest decentralized exchanges in the crypto market, offering the highest level of protection for clients’ and investors’ assets.
Reach co-founder and CEO Chris Swenor said:
We hired Kudelski Security to conduct an audit on the HumbleSwap smart contract. The exam tested code developed on the Reach platform, with a focus on overall security and risks within the code environment.
Additionally, Swenor added:
Kudelski Security’s findings during the audit did not trigger any changes, risks or general security alerts, even at low risk levels. This indicates that Humble Swap does not contain any backdoor or vulnerability that could be exploited. As a result, Humble received only a single informational level of feedback.
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