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Magpie Audited by Industry Leader PeckShield


Magpie Audited by Industry Leader PeckShield

Magpie XYZ

By Magpie XYZ

6 months ago
2 mins read
Magpie Audited by Industry Leader PeckShield

While we are still young, we realize that with our maturation, there must be measures taken to not only foster our maturation in-house, but also signal to the world that we are serious about actualizing our vision.

Because of this, we are pleased to announce that, in stride with our aspiration to mature as a community, our smart contract has been audited by PeckShield.


Founded in just 2018, PeckShield has quickly become an industry leader in blockchain security, offering services ranging from audits to 24/7 emergency response for protocols. Their overarching aspiration is to strengthen the security, privacy, and accessibility of blockchains.

PeckShield consists of a team of individuals with experience working on security teams at organizations including Qihoo 360, Microsoft, Intel, Juniper, and Alibaba, among others. PeckShield has joined a number of key players in the blockchain space in strategic and long-term collaborative efforts, including blockchain infrastructure vendors, exchanges, crypto wallets, mining pools, DApp developers, as well as DeFi pioneers. PeckShield is also known for having discovered the BatchOverflow loophole on the Ethereum blockchain. As a result, they have been included as a recommended vendor for smart contract security audits on Last, but not least, PeckShield has ranked in the top 3 worldwide in the Ethereum Bounty Program.


PeckShield’s auditing approach is thorough yet simple. They check for:

Coding bugs: Using their proprietary static code analyzer, PeckShield analyzes submitted smart contracts, then manually verifies issues that were found
Semantic consistency: Smart contract logic is manually compared to the description laid out in the protocol’s white paper
Advanced DeFi Scrutiny: More thoroughly reviews business logics, system ops, etc. for possible pitfalls/bugs
Misc.: PeckShield gives additional recommendations over and above preceding three criteria as per proven programming practices


We are happy to announce that, while PeckShield indicated there was room for improvement with regards the four issues identified, they found our smart contracts to be well-designed and engineered.

We have already worked to have three of these issues resolved, with PeckSheild’s status in the audit already having been updated to “fixed.” Further, the outstanding issue is labeled as “mitigated.”


We are a decentralized community that has set out to bring efficiencies to other communities and users in DeFi where we identify inefficiencies. Our work is focused particularly on boosting yield for the Wombat Exchange community.

We are excited for the next chapter our community will enter. This audit signifies us taking a step in that direction!


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