Security

Security is an integral part of Bitlend’s vision to provide fast, affordable and secure DeFi on BitTorrent chain. As such, we have taken extensive measures to ensure that the protocol is fully robust prior to launch.

Bitlend V1 control

Until Bitlend switches to fully on-chain governance for controling the protocol, it will use the permission system with multiple members of trusted parties to ensure the perfect balance between security and effective decision making.

Role	Description	Controlled by
Protocol Risk Management	Comptroller admin bToken Administrator Band Price Oracle Administrator Guardian (working group for now)	Bitlend and BitTorrent teams.
Market Risk Management	Borrow Cap Guardian Administrator Setting lending market risk parameters Jump Rate Model Administrator	Bitlend and BitTorrent team.
WatchDog	PauseGuardian	Bitlend and BitTorrent team.

Audits

Bitlend V1 uses Compound V2 contracts as a base, which have completed several full audits and have a comprehensive bug bounty program.

Bitlend V1 protocol has undergone multiple audits by Peckshield and Oxorio, and all identified vulnerabilities have been corrected.

Bug Bounty Program

Smart contracts audits are only a part of our methodology for strenghtening Bitlend's security. Bitlend encourages the community of independent security experts to explore our codebase and report any suspicious findings that fall in the program scope.

Rewards

We are planning a community bug bounty with up to $50k in rewards on Immunefi. The amount of rewards to be paid out depends on the severity of the finding. They will range from $200 to $50,000 for eligible discoveries.