Hacken Audit: Token Failsafe Against Hacks

Dear SnapEx Community, 

Some of you might not know this, but we are currently undergoing a Smart Contract Audit with the world’s leading software auditing firm, Hacken. 

We chose to work with them for the pedigree of their portfolio, with two key factors swaying us towards them over other industry standard-bearers for the first audit, including the following. 

1. Working with the leading companies within the cryptocurrency and blockchain space, with FTX and Gate.io among their portfolio. 
2. Being trusted by non-crypto industry stalwarts, such as airline behemoth Air Asia. 

During their audit, they praised the SnapEx ecosystem and the smart contract structure, scoring full marks across a number of key areas. There was one area where they sought further clarification on, which was highly permissive user access, whereby the token issuer could stop the transfer of tokens.

One of our core values as a company is transparency, and this is something that we will fully clarify below. 

Firstly, this exists as a failsafe within our ecosystem, to prevent hackers from gaining control of our token distribution. If an unlikely scenario like this was to occur, the SnapEx team could instantaneously prevent any malicious actors from taking control, therefore protecting the community as a whole This is intentionally incorporated to our system to keep SNAP Token holders completely safe, which is standard within Centralized models (as opposed to decentralized protocols), keeping you safe from hackers. 

We thank Hacken for their amazing work to date and you can expect to see the results of the audit quite soon. 

All the Best, 

Cathal Donnellan, 

SnapEx CEO, 

17/04/2022