“It’s becoming increasingly important for there to be more audit options and clear security standards. These measures will provide the structure for projects to more easily gain adoption upon launch.” — nneverlander, Founder, Infinity NFT Marketplace
Infinity NFT Marketplace is more than your run of the mill jpeg broker. The protocol challenges the status quo by offering prosumer features for a more adept class of users. Naturally, innovating in such an emergent space comes with risks, but the team is mitigating those head-on by enlisting the help of Code4rena Wardens in a security audit competition.
As Code4rena auditors dig into Infinity’s codebase, we asked nneverlander, founder at Infinity NFT Marketplace, to talk to us about the product, their view on security, and why they’re betting on Web3.
Infinity is the world’s most advanced NFT marketplace.
The marketplace is designed for complete trading flexibility with instant order execution without user intervention. Advanced order types allow traders to make orders based on collections, traits, price limits and more. As a result, the Infinity protocol creates more efficient and liquid NFT markets.
We believe that every good and service will be represented as an NFT. Infinity is building the infrastructure, applications, and ecosystem that will create more trading opportunities.
The Infinity protocol is initially being used by the Infinity marketplace. However, projects across the Ethereum ecosystem can implement it to create more efficiency and liquidity within their own marketplaces.
We are also enabling the developer community to build on the protocol. The contracts are modular and extendable for anyone to add order ‘strategies.’ These will make it easier to implement custom buy and sell features.
Automatic order fulfillment without user intervention is a new concept in the space. It creates better price discovery and arbitrage opportunities for NFTs. Any project that leverages the protocol can make trades leveraging this matching engine and the corresponding price data.
Keeping trader costs low is also a priority for us. We implemented novel uses of flashbots and batch transactions to save significant gas costs in the trading experience.
Protocol security is very important for how we’re building trust in the product and our brand. We want all traders to feel comfortable and safe when trading on Infinity or leveraging the protocol. Undergoing a public audit is one of the easiest ways to build this trust.
A lot of web3 is experimental and the open source nature of smart contracts opens up projects to vulnerability. However, audits are making it much safer. It’s becoming increasingly important for there to be more audit options and clear security standards. These measures will provide the structure for projects to more easily gain adoption upon launch.
The web3 ecosystem is solving some of the most challenging problems. For example, NFTs will unlock digital property rights and onboard the next wave of web3 users. We’re excited to build the infrastructure and applications that create efficiencies when trading them.
Infinity’s $50K security audit contest opened June 14, 2022, and runs for 5 days. Details at code4rena.com.