Independent auditing firm, AntiHACK.me, examines Gennix’s resistance to cyber attacks, protocol safe funds, overall platform integrity and long-term sustainability
SINGAPORE, Oct. 05, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire) –– Technicorum Holdings, an IT and service group specializing in digital assets and successful incubator of the innovative DeFi and NFT project KingSwap, today announced that Gennix (ticker: GNNX), a defi-lending protocol on Binance Smart Chain, earned a “secure” audit score from independent auditing firm, AntiHACK.me.
Gennix provides its users with yield-farming opportunities with a promotional APY on the farming and staking of digital assets listed on its lending platform of up to 1000% APY. Gennix also offers attractive borrowing and lending rates and supports NFT yield boosters, which will enable users to accumulate more capital in a safe and secure manner. With security as a top priority, Gennix engaged a third-party smart contract auditing firm, AntiHACK.me, who completed a successful audit and found no critical issues as of September 23, 2021.
Features on Gennix’s platform underwent a robust hybrid process, comprising both manual and automated system audits and screening. A manual audit analysis was conducted to outline potential improvements relating to the efficiencies, logic and optimization of smart contracts while a secondary check deployed automated systems to validate and authenticate the results. The audit also looked into how Gennix’s: (i) security systems are resistant against cyber attacks, (ii) funds are locked in the protocol safe, and (iii) platform integrity is robust and sustainable for the long term. In result, Gennix came through each process and passed its overall audit, across all verticals; and the AntiHACK smart-contract audit report concluded that Gennix’s overall system and platform are secured, reliable and compliant with industry standards.
The full report is available on Gennix’s website.
“Community trust and project security in the Gennix community are of the utmost importance for our overall growth,” said Keefe Tan, Project Director of Gennix. “Third-party audits are necessary to imbue confidence in our community, achieve efficiencies, mitigate risks and ensure legal compliance; and we’re pleased to announce that our technology meets these industry standards.”
Gennix is a lending protocol with TrustScore, yield farms and NFT yield boosters. Gennix promotes the seamless lending and borrowing of digital assets through operating on a decentralized network. A feature that distinguishes Gennix from other DeFi projects is its inclusion of Non-Fungible Tokens (NFTs) with utilities such as additional APY (annual percentage yield). Gennix also features integrated blacklisting capabilities for enhanced security and to foster confidence in the lender(s) on its platform.
Founded in Australia, Gennix is in talks to secure its multi-million dollar expansion deal commencing in 2022 and has partnered with Digital Treasures Center (DTC) of Singapore to facilitate off/on ramp crypto to fiat conversion for the Gennix platform.
For more information on Gennix, please visit https://www.gennix.io/.
Gennix is a lending protocol with TrustScore, yield farms and NFT yield boosters and is on the Binance Smart Chain (BSC). Gennix promotes the seamless lending and borrowing of digital assets through operating on a decentralized network. A feature that distinguishes Gennix from other DeFi projects is its inclusion of Non-Fungible Tokens (NFTs) with utility such as additional APY (additional percentage yield). Gennix also features integrated blacklisting capabilities for enhanced security and to foster confidence in the lender(s) on its platform.
Gennix is a DeFi-built uniform Layer 2 lending protocol that is designed to maximise scalability, composability, and growth. As a project, Gennix promotes the end-to-end lending and borrowing of digital assets and related financial products through operating on public networks. A game-changing feature that distinguishes Gennix from other DeFi projects is how its foundations are built on the latest innovative BSC (Binance Smart Chain) network and also the introduction of NFT yield boosters. For more information, visit http://www.gennix.io/.
ABOUT THE TECHNICORUM GROUP
Technicorum Holdings is parent to several subsidiaries, some of which are regulated. Technicorum Holdings specialises in various industries in the field of digital assets, such as decentralised finance (DeFi), etc. and is mainly responsible for the regulated KingSwap project (a fully decentralized finance protocol for automated liquidity provision, where its platform also allows users to swap, buy and sell NFTs). Technicorum Holdings’ reference projects include over 100 ICOs (initial coin offerings) completed over the last 4 years, through its subsidiaries.
KingSwap (https://www.kingswap.io/) is a DeFi project based out of Singapore with a **“regulated” token that introduces a liquidity pool platform with possible fiat conversions. KingSwap’s high-yield liquidity platform offers extensive staking rewards and digital collectibles.
**” Regulated” – KingSwap commissioned Gravitas International Associates Pte Ltd, a Singapore Payment Services Act (“PSA”) exempt company, to issue the $KING tokens. A legal opinion regarding the token issuance has been submitted to the MAS in accordance with the PSA requirements. Gravitas has also submitted an application to the MAS for full licensing under the PSA, where the application is pending review. KingSwap itself has no license specific to DeFi projects, as there is no specific legislation anywhere in the world at this point in time pertaining to DeFi. KingSwap stays apprised of developments in the regulatory framework pertaining to the PSA in Singapore.
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