Bancor Rated the Safest DeFi Protocol: DeFiSafety

Bancor 3 has earned the highest safety score of any DeFi protocol, adding to safety features like Impermanent Loss Protection and Nexus Mutual smart contract insurance.

ZUG, Switzerland, June 17, 2022 (GLOBE NEWSWIRE) — Bancor 3 has received a 98% safety score from security ratings firm DeFiSafety, the highest score of any DeFi protocol, ranking Bancor as the safest DeFi protocol in the industry.

DeFiSafety analysts reviewed Bancor’s smart contract code, testing, technical documentation and existing audits from security firms like OpenZeppelin and Peckshield. The 98% rating placed Bancor 3 above leading DeFi products like Liquity, AAVE, Uniswap and Gnosis.

Bancor’s product design also reflects the protocol’s emphasis on safety. Impermanent Loss is a common risk faced by liquidity providers (LPs) in DeFi and Bancor provides its users with full protection from Impermanent Loss,…

Read more at finance.yahoo.com

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