From Sep. 2, 2024 to Oct. 29, 2024, Wombat Finance Limited engaged Veridise to review the security of their Wombat-Exchange protocol. Wombat-Exchange is a decentralized exchange (DEX) platform. The project includes an (AMM) system with a unique curve invariant designed for stable-swaps based on an asset-liability model which uses the coverage ratio of pools instead of tokens’ reserves.

Veridise conducted the assessment over 17 person-weeks, with 2 engineers reviewing code over 8.5 weeks. The auditing strategy involved extensive manual code review performed by Veridise engineers.