NettyWorth
Summary
NettyWorth contracted the services of Resonance to conduct a comprehensive security audit of their smart contracts between October 8, 2024 and October 15, 2024. The primary objective of the assessment was to identify any potential security vulnerabilities and ensure the correct functioning of smart contract operations.The protocol proposed by NettyWorth is a lending protocol that allows a borrower to obtain a loan for a fixed period of time by offering an NFT as collateral. The system comprises components working together to facilitate NFT-backed loans, providing a seamless experience for borrowers and lenders, such as, a vault, a loan manager, an NFT receipts manager, and a proxy that ties them all together.The protocol collects the NFT which will be returned to its owner once the loan is paid back, including interest. In case the loan duration ends, the lender can close the loan and obtain the NFT that was sent to the contract as collateral. The tokens and NFTs used for the loans are controlled via an allowed tokens list.
