Atlendis Labs has Successfully Concluded an Audit of the Atlendis Protocol V2 by Nethermind


by Stéphane Coquet

Atlendis Labs has Successfully Concluded an Audit of the Atlendis Protocol V2 by Nethermind

This article describes the audit results and Atlendis Labs’ response to the comments in the audit report.

Atlendis Labs and Nethermind

Atlendis Labs is pleased to announce that Nethermind has completed an independent third-party audit of the Atlendis protocol V2’s smart contracts. The audit was conducted between April and May 2023. As for the first audit of these smart contracts, the testing efforts focused on identifying any issue that would result in attackers using the code in an unwanted way, which could result in users losing funds. The Nethermind team was given access to source code and extensive documentation, and performed static analysis of the target system as well as a manual review.

Overview and Scope of the project

Nethermind was charged with the audit of Atlendis’ V2 smart contracts in April 2023. The smart contract scope consisted mainly in the Revolving Credit Lines product, as well as the common parts of the architecture shared by all products in Atlendis V2.

The audit was performed using a manual analysis of the codebase, automated analysis tools, simulation of the smart contracts, and creation of test cases. The auditors reviewed the design documentation, whitepaper and related smart contracts’ code. 

Findings summary

The Nethermind team reported “17 points of attention, where one is classified as High, four are classified as Medium, three are classified as Low, eight are classified as Informational and one is classified as Best Practices.” All but 3 have been fixed by the Atlendis Labs team, the remaining being acknowledged and a formal explanation being provided, articulating the logic behind this decision. The exact classification methodology and summary of the findings can be found in the report.

Atlendis Labs’ Comments

The audit conducted by the Nethermind team was the second and last audit performed on the Atlendis V2 smart contracts before they were deployed into production in May 2023. This audit was scheduled after the end of the first one, in order to review the structuring changes made to the smart contracts code after the first audit, as well as increase confidence in view of the smart contracts deployment into production.

The Atlendis Labs team was pleased with the results of the audit led by Nethermind. In particular, most of the findings were minor, quickly resolved after they were found, and did not necessitate drastic changes in the codebase.

The additional work after the first audit to complete and mature the codebase was successful, as the second audit led the Atlendis Labs team to be confident enough to deploy Atlendis V2 contracts into production. However, this second audit is not the last step in the Atlendis Labs’ security strategy. The Atlendis Labs team will continue developing and testing the V2 smart contracts, and will closely monitor the deployed contracts to mitigate any issue that could appear.


Atlendis Labs would like to extend their gratitude to the Nethermind team for their feedback and suggestions that have helped improve the Atlendis protocol. The Atlendis Labs team looks forward to developing a long-term relationship with Nethermind, to advance the development of the Atlendis protocol.

Audit Report 

The audit report can be found here

About Nethermind

Nethermind has a world class team of builders and researchers with expertise in Ethereum, protocol engineering, layer 2 scaling, decentralized finance, smart contracts development and enterprise blockchain. We provide technology, R&D and consulting services for blockchain and DeFi businesses.

The Nethermind team actively contributes to Ethereum core development and supports many Ethereum projects to help further develop the ecosystem. Working with amazing partners such as StarkWare, POA, EWF, Baseline, Provide and many more, Nethermind is building the future of blockchain and DeFi.

About Atlendis Labs

Atlendis is a capital-efficient lending protocol connecting DeFi with real-world use cases. Atlendis fills the gap that traditional finance (TradFi) has not been successfully able to cover. Leveraging blockchain technology and open banking, Atlendis enables Fintech and institutional actors to open dedicated liquidity pools and access one-time loans and revolving lines of credit, thus facilitating alternative financing for the growth and development of SME and startup customers across the globe. Atlendis makes it possible for any lender to control their portfolio while earning sustainable yield and making a meaningful impact helping real-world businesses. 

Additional Resources



Stéphane Coquet

Co-Founder & CTO

Stéphane Coquet is a Co-Founder and CTO of Atlendis Labs. Stéphane started his career in consulting, and quickly switched to developer roles in the digital marketing field. He then fell down the blockchain rabbit hole and figured that since he already spent the majority of his time exploring the Ethereum blockchain ecosystem, he might as well make it his day job. He joined ConsenSys as a software engineer and worked on several global projects, helping institutions build private blockchain consortia to change the rules of their respective industries. He aspires to build a more open and inclusive financial system, but this time on the public side of the chain. Stéphane is a graduate of the Ecole Polytechnique and Ecole des Mines de Paris.