We are thrilled to announce that the smart contract audit for Leancoin (LEAN) has been successfully completed which means we shave started the migration process from Lean Management Token to Leancoin! The official announcement, along with the report, will be issued by Hacken this week. If you’re eager to find out more details, check out our short on YouTube or TikTok.
New smart contract for Leancoin:
7297kX7SEZ1do223VsjTAC2MS9gLxPJoxFs9UMwiG4oS
Link to Solana
Today, using the audited code, we’ve created Leancoin on the Solana blockchain. We will also submit it to CoinMarketCap, CoinGecko, DigiFinex, and SolScan today.
This week, we plan to initiate the formal swap process from Lean Management Token to Leancoin. A smart contract audit for Leancoin is crucial due to several reasons:
- Security: Smart contracts carry out transactions and handle assets worth millions or even billions of dollars in the crypto world. They are essentially self-executing contracts with the terms of the agreement directly written into code. Given this, any vulnerability or bugs in the smart contracts can potentially be exploited by malicious actors leading to loss of funds. An audit ensures that the smart contracts are free from known vulnerabilities and helps minimize the risk of exploitation.
- Trust and Transparency: Since blockchain transactions are irreversible, any errors or bugs in a smart contract can lead to significant financial loss. An audit reassures the users and investors that the smart contracts have been thoroughly reviewed and are reliable and safe to use.
- Regulatory Compliance: As the blockchain and crypto industry mature, regulatory compliance becomes increasingly important. An audit can help ensure that the smart contract complies with existing laws and regulations, thus minimizing legal risk.
- Operational Efficiency: Smart contract audits not only find security vulnerabilities but also help optimize the code for better efficiency. This can save users in transaction fees (gas fees) and improve the overall user experience.
- Detecting Logical Errors: Smart contracts might have logical errors where the written code does not match the intended functionality. Audits can catch these errors before deployment.
- Project Reputation: A properly audited smart contract adds to the credibility of a crypto project. It signals to the market that the project takes user security and project integrity seriously.
- Investor Confidence: Finally, audited smart contracts provide confidence to potential investors. Given the number of scams and rug-pulls in the crypto space, an audited smart contract can serve as a form of reassurance to potential investors and increase the chances of successful fundraising.
Overall, a smart contract audit is an integral step in the development and deployment of any serious crypto project, aiming to ensure the security, functionality, and credibility of the project.
