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Contracts & Security

Contracts

NiftyApes is a system of smart contracts that enables borrowing and lending with NFTs as collateral with permissionless refinancing. These contracts are Liquidity.sol, Offers.sol, Lending.sol, and SigLending.sol. Together they enable Harberger Style Lending Auctions the new financial mechanism created by NiftyApes.

Audits

NiftyApes has completed two audits with Quantstamp and Sherlock. Quantstamp audit: link Sherlock audit: link

Q: Why does NiftyApes use upgradeable proxy contracts?

The current smart contracts are twice-audited and carefully tested. But we also recognize that they're a V1. The upgradable proxy is meant to a final backstop, a hand-brake the team can pull in case of emergencies.
Our vision is to deploy a V2 of the smart contracts that are truly permissionless and unstoppable.

Q: I worry about the rug pull, what has NiftyApes done to mitigate that?

A rug pull in crypto is when the team suddenly abandons a project and sells or removes all its liquidity from the protocol.
NiftyApes cannot drain the liquidity staked in the protocol.
Liquidity can only be removed from the protocol by the party who originally provided liquidity, or by a borrower with an active offer from the lender and owns the corresponding asset. The borrower cannot draw liquidity without locking the corresponding NFT in escrow.
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Contracts
Audits
Q: Why does NiftyApes use upgradeable proxy contracts?
Q: I worry about the rug pull, what has NiftyApes done to mitigate that?