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Vayana collaborates with CyStack to assess the security of Vayana Debt Platform (VDP)

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Thy Dang

Content Executive @ Marketing Team|December 21, 2023

Vayana commissioned CyStack to perform an audit on their smart contract from November 2nd to November 10th, 2023. A team of four engineers scrutinized the code to evaluate adherence to provided specifications, identify language-specific vulnerabilities, and manually inspect functionality. The audit aimed principally to determine the security, robustness, and proper operation of the smart contract per defined requirements.

About Vayana

Vayana is a leading Supply Chain Finance platform, specializing in providing a comprehensive suite of Trade credit and Trade enablement solutions across all tiers of Supply Chains in India. Financing over USD 14 Billion annually, the platform serves over 200,000 enterprises spanning 1,000 supply chains, making Vayana the preferred partner in the realm of supply chain finance.

The extensive network now covers 600 cities and 2000 pin codes in India and extends its footprint to 23 countries worldwide. Notably, the company is increasingly focusing on addressing the needs of the smallest MSMEs in the extended tail of the supply chains.

Vayana Debt Platform (VDP) is a comprehensive blockchain-based loan operating system for digital currencies, deposit tokens, CBDC, and Fiat. With VDP, Vayana aims to enable regulated or alternate lenders and other credit investors to lend to businesses on the Blockchain, harnessing the power of smart contracts to fully digitize their lending operations.

Robust efforts of Vayana in safeguarding the digital front

In order to enhance security and bring the best experience to users, Vayana has chosen CyStack as a cybersecurity partner to perform security assessment with Smart Contract Audit. The focus of the audit was to verify that the smart contract system is secure, resilient and working according to its specifications. The audit implementation was grouped in the following three categories: Security, Sound Architecture and Code Correctness and Quality.

CyStack performed a detailed security test on Vayana’s infrastructure and discovered a total of 4 vulnerabilities: 1 medium, 1 low and 2 info. Vulnerabilities included Denial of Service (DoS), Business Logic and Programming Standards.

Our experts meticulously assessed the code implementation, addressed language-specific concerns and verified adherence to specified requirements. Thereby, CyStack has overcome vulnerabilities and security risks, increasing Vayana’s smart contract performance.

With a keen awareness of information security, Vayana has consistently positioned itself at the forefront of ensuring safety and providing the best experience for users.

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About CyStack

CyStack is a leading innovative cybersecurity company in Vietnam, known for its in-depth research capabilities and building pioneering security solutions for businesses and individuals. With more than 200 enterprises and 20,000 users worldwide, CyStack is recognized as a trusted partner to organizations and a powerful leader in cybersecurity research and development.

CyStack’s products and services focus on threat detection, vulnerability management, community security, and data security, with the goal of comprehensively protecting organizations against cyber threats. These solutions are trusted and recommended by many organizations and businesses of various sizes and fields, as well as winning awards from the Ministry of Information & Communications and specialized associations for many consecutive years.

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