Perfect Finance

 Basics

• Announced on:
• Mainnet release:
• Based in:

Technology

• Whitepaper can be found [insert here].
• Code can be viewed [insert here].
• Built on:

• Programming language used:

Transaction Details

• Capacity (TPS):
• Latency:

Roadmap

• Can be found [Insert link here].

Audits

• Bug bounty program can be found [insert here].

Bugs/Hacks

• From Coingeek (6-11-2020):

"In the latest DeFi debacle, $1 million in user funds has been permanently locked in a smart contract. Perfect Finance, “an 100% community-owned fork of Compound,” had an error in their smart contract that locked 446,000 USDC, 28 WBTC, and 313 ETH. As a result, Perfect Finance users can no longer lend, borrow, repay their loans, or withdraw within its USDC, WBTC, and ETH markets. Although Perfect Finance’s other money markets are fully operational and were unaffected, Perfect Finance is encouraging its users not to borrow from any of its other markets until they resolve the issue created by the faulty smart contract.

The carelessness of the Perfect Finance team shows. Instead of having their own developers parse through the smart contract and make the respective updates, the team tried to copy and paste the work of another project–Compound–without having a complete understanding of how it worked.

The Perfect Finance team has reached out to Centre–the company behind USDC–as well as digital currency custodian BitGo in an effort to get the locked funds returned to users; the Perfect Finance team has not heard back from either entity. However, Centre made a public statement saying that they will only interfere with a transaction if “a valid, binding court-order from a competent U.S. court that has authority over Centre.” With that in mind, the chances of Perfect Finance users getting their money back look slim."

Team, Funding, Partnerships, etc.

Team

• Full team can be found [here].