OXY Retains DeFi Cybersecurity Experts BTblock to Accelerate Development
Original Medium post can be found here.
FROM ALEX GREBNEV, CO-FOUNDER, OXYGEN.ORG At our AMA earlier this month, I promised to provide regular updates to our community on developments, so I’m thrilled to announce our partnership with DeFi cybersecurity specialists BTblock.
This will see the BTblock team, who are closely familiar with Serum DEX and the initial Oxygen Protocol, joining us to finalise Oxygen Beta as well as Oxygen Light — a simplified version of the protocol. They will also work on the enhanced architecture that will be seen in Oxygen 2.0.
There has been a tsunami of headlines recently highlighting the risks of exploitation and financial loss that can arise from a mistake in DeFi coding. By bringing the BTblock team into our development team, we desire to demonstrate that Oxygen is prepared to go the distance to maximise security through working with the best experts in the field to ensure the security and proper functioning of our protocol.
The Oxygen ecosystem is an alternative financial infrastructure that is one of the few DeFi protocols live on the Solana mainnet to have been audited by Kudelski Security and BTblock. Oxygen’s on-chain prime brokerage protocol enables sophisticated institutional investors to finance their portfolios, borrow and lend assets to generate yield, and ultimately to create complex structured financial products using DeFi principles. As a DeFi protocol, it can be embedded into and composed with other projects making the capability more accessible and open to all.
Beginning immediately, BTblock technologists will be working alongside the Oxygen development team. In addition to their immediate work on the development of Oxygen, the teams will also collaborate on integrating Oxygen with Maps.me and other embedded finance applications.
Tammy Kahn, co-founder at BTblock had this to say about the partnership with Oxygen:
“Our team, led by Mikael Björn, has extensive experience reviewing Oxygen, Serum and Solana blockchain and other projects based on it. It is critical these projects do all in their power to put security and reliability first, building the foundation of trust needed to scale successfully. Our decision to team with Oxygen is a testament to their focus on safely delivering on their promise.”
I’m proud of Oxygen’s achievements to date as we create an alternative financial infrastructure platform, but I’m also extremely conscious that our community wants to see further rapid progress. Through our partnership with BTblock we can deliver both exceptional security and enhanced development speed. Stay tuned for further updates.
About BTblock BTblock is a technology and cybersecurity consultancy specialized in providing end-to-end security and auditing solutions, with a focus on servicing clients in the blockchain & cryptocurrency, financial and IoT sectors. BTblock has performed end-to-end security reviews for major Layer 1 & DeFi blockchain protocols including Solana, Ethereum, Cardano, Polkdadot, and multiple NFT marketplaces. BTblock’s cybersecurity practice has some of the best DeFi logic experts in the world to test and analyze your system for potential vulnerabilities including comprehensive logic review, code review, and functionality review when advanced cryptographic or ledger solutions are used. Also, BTblock has developed FYEO, the only crypto-focused identity management and threat monitoring platform that secures and empowers enterprises and individuals on the journey to Web 3.0.