Chennai, India, Fairies Finance is announcing the successful audit and KYC of its smart contracts. The platform had mentioned the start of the audit and KYC through their social media pages. Following the successful audit, Fairies Finance network now has the go-ahead to start its Presale soon on the Pinksale Launchpad.
Fairies Finance Audit Report Released
Today, Watchtower released the Fairies Finance audit report on Github, which indicated that the Fairies Finance network is ready for business. The Watchtower blockchain and smart contract auditing network began the audit in November.
According to the report, the Watchtower implored a wide array of tests to test for DOS and other gas-connected attacks. The audit checked in-depth on various aspects of the projects, from the token, the taxing, and other vulnerabilities.
After the audit process, Fairies finance announced no high severity issues. The absence of high severity issues is good for the project since it means they can protect investor security. But, Watchtower identified other medium and low severity issues. The medium severity issues noted in the Fairies Finance smart contracts are common, especially for reward contracts.
Other low severity issues were noted in Fairies Finance, including a high distributor’s gas limit capped at 500000. The above means if BNB prices increase, the gas fees will go higher than rewards. All in all, Fairies Finance investors should be able to work with the minor issues noted with smart contracts.
Fairies Finance KYC Report
Fairies Finance also announces the release of their KYC scan report. KYC scanning mainly focuses on the team behind the project. In KYC, the scanner looks at the team, checking for any money laundering connections. If one team member has money fraud issues, the entire project could be at risk.
According to Fairies Finance, Pinksale conducted the KYC scanning of their team. Pinksale did not discover any issues connected to the team.
The Presale Launching Soon
After the audit and KYC, Fairies Finance is announcing its Presale, which will start soon. The network has a native token dubbed Fairies, which will power the services offered within the platform.
Fairies Finance is inviting investors to participate in its Presale event, which will begin on 1st December 2021 at precisely 08:19 UTC. The Presale is less than 48 hours away. The fundraising event will run till 10th December at 16:40 UTC. The Presale could be cut short if the network hits the hard cap early.
The Pinksale Finance Launchpad will host the Fairies presale. Fairies Finance targets to raise a 350 BNB softcap or 700BNB hardcap. Each participant can only purchase a minimum of 0.1 BNB or a maximum of 5 BNB.
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