OpenZeppelin Defender is a new platform launched by OpenZeppelin that aims to optimize DeFi protocols and help developers control smart contracts and applications.
By using Defender, admins can manage smart contract administration in a simple way. The protocol announced the new platform’s launch on October 26.
According to the blog post, OpenZeppelin Defender allows projects to release protocols to the market faster. At the same time, Defender minimizes security risk with the help of an intuitive and efficient development platform. If adopted widely, this could become the number one solution in the DeFi sector. Security risks are a reoccurring problem due to the inherent lack of safety of smart contract technology.
Furthermore, the team claims that developers can now improve the safety of user funds through the use of a single dashboard. With Defender Admin, it is possible to manage smart contracts by accessing various functions. Developers can pause contracts, upgrade them, and edit them all through a trusted multisig setup.
OpenZepellin developed the new platform for more than a year with the help of multiple reputable blockchain projects. These include Compound, Aave, dYdX, PoolTogether, Balancer, Foundation Labs, and other teams.
The team at OpenZepellin believes that a lack of standards for Ethereum smart contracts represents the biggest challenge inside the ecosystem. Nowadays, developers spend a large amount of time working on existing tools or building homemade scripts for use cases that are beyond their area of expertise. Because of this, modern projects take too much time to develop and launch. In the case that they do launch on time, these platforms offer considerable risks to users.
OpenZeppelin Defender Audited more than 150 times
So far, OpenZeppelin Defender has gone through more than 150 security audits by leading blockchain auditors. In the process, the team discovered that we have no concrete solution to manage risks after already launching a project. However, this is completely changed with the help of OpenZeppellin’s Contracts, a library with more than 2 million downloads that Solidity developers can utilize.
Moreover, it is formative in enabling DeFi developers to implement safety standards securely and easily. According to the team, the Defender is the next step towards protecting and securing the DeFi ecosystem.
Teams and Partnerships
The teams that will implement the new OpenZeppelin Defender platform includes some of the best developers in the industry.
As we previously mentioned, these include Aave, Compound Labs, Aave, dYdX, Balancer, Props, Status, PoolTogether, Opyn, Dharma, and TrustToken. These projects have partnered with the team to turn DeFi into a more secure place for both users and developers. Commenting on the latest improvements, Props CTO Peter Watts stated:
“Working with high-value smart contracts can be stressful. OpenZeppelin Defender relieves that stress by dramatically reducing the room for human error, making smart contract management simple and safe – it’s a no brainer that will improve the security and efficiency of any team.”
The main software engineer at dYdX Ken Schiller has issued similar statements, specifically saying:
“OpenZeppelin has been a longtime leader in developing Solidity best practices and security recommendations. With Defender, they are tackling the most urgent needs of dapp developers one at a time, starting with making Ethereum DevOps sane. Defender is an invaluable tool for any team that needs to manage smart contracts after they are deployed.”