On the 22nd of June we invited our community to fire questions to the CertiK team and the great folk at SeedifyFund. The response was amazing, and we had a blast answering your questions!
From audits and security education, to the long term vision and mission of SeedifyFund.
Without further ado, let’s kick it off with an introduction from the team at Seedify before we launch in their AMA!
Q: Can you give us an overview of yourself and the project?
Hi, I am Levent Cem Aydan, founder of Seedify.fund. I have been an entrepreneur for about 10 years, and have been interested in the blockchain ecosystem since 2012. I started Seedify.fund because during my entrepreneurial journey I saw a lot of problems in the VC ecosystem, especially in developing countries, and wanted to find a decentralized solution for entrepreneurs to raise funds in a fair way.
In the initial whitepaper of Seedify.fund, we consisted of a decentralized seed stage fund where any team can submit their project, get voted by community and get a seed fund from Seedify.fund, in exchange for future tokens, and an incubator where mentors from many different skill sets can help these approved projects to produce greater results. Which is somewhat like a decentralized version of the Silicon Valley accelerator model. Later on we also added a launchpad to our product ecosystem as well, so projects can also have their IDOs and private sales on our platform as well.
Q: How do you position yourself for the next 5 years in the crypto world? Some countries are opposing yet developing their own digital coins. How will your vision and mission help to empower, or perhaps disrupt the current market technology.
Day in and day out, we work to make Seedify.fund a major innovation hub that will produce hundreds of sustainable projects that will generate adoption to the blockchain ecosystem, through real world use cases.
Our DeFi mechanisms not only generate yields, but also help other projects to raise the money they need, get the support they need, and become disruptive technologies that will empower the current trends and future trends in the market.
Thus, each successful project we support in our ecosystem will bring not only financial benefits to our community in return, but also keep empowering the growth of the crypto world, to disrupt the current traditional models, and make sure that this revolution can only grow further.
Q: Marketing is a central element for every project, so that everyone knows the potential that a project can bring is vital to achieve the goals set. What is your strategy to attract new users and investors to your platform and keep them long term?
Regarding the marketing side we initially started mainly with viral marketing strategies, topped with influencer marketing, and collaborations with content creators. We gained a huge community through these methods.
The next big focus of our marketing strategy will be revolving around IDOs, so the projects we host on our launchpad can generate a lot more awareness, and indirectly Seedify.fund can generate a lot of new users and holders as well. We will mainly use influencer marketing and content marketing in these strategies, coupled with some viral elements to boost the results.
Q: So many projects just like to speak about the "long term vision and mission" but what are your short term objectives? What are you focusing right now?
Our main short term objectives are finishing all the products in our ecosystem that we promised in our whitepaper, having consistent IDOs that generate great results, and building a great team, as well as marketing our platform through the success stories we help create for other projects.
Q: Considering current market conditions, launchpads may face high difficulty as popularity of IDOs may reduce with the downwards market. So what are the competitive advantages @SeedifyFund holds over other Launchpads?
In certain market conditions we agree that launchpads will be less effective by themselves. For this we have 2 strong products that will help generate great projects also during downwards trends; which are our seed funding and incubation mechanisms.
As Seedify.fund we will work on creating a model where we can collaborate with many launchpads, thus increasing the positive outcomes for projects both during downwards and upwards trends.
Q: Could you give me 3 best features to convince me and other angel investors to invest in SFUND in the long-term?
Q: First of all thanks @certik_io for organizing this AMA.
I just want to ask that Seedify has been doing great till now but what are the future plans regarding seedify going cross-chain?
Since the beginning of Seedify.fund our plan was always to help all the projects within the blockchain ecosystem. Since 2021 is a year where variety in layer 1 infrastructures are increasing, and projects choosing the best option according to their own needs, we are working on bringing multi-chain aspects to our launchpad initially.
We collaborated with Anyswap for our BSC-Ethereum bridge, and currently we are developing multi-chain claiming features for our Launchpad so we can provide IDO solutions for all projects irrespective of their layer 1 infrastructure.
In the same way, our seed funding mechanism and incubation system will welcome all projects irrespective of their layer 1 hosts.
Q: Crypto people say that the next boom will on NFT after the Defi. Do you agree with this? And what are the plans of #SeedifyFund to build on NFT concept/technology? Any future ideas about NFTs?
According to the project applications we get, we can definitely say that there is a huge surge in NFT related projects. We definitely agree that NFTs, and NFT-based categories such as NFT-gaming, NFT-art, NFT-contracts, are gonna continue to show more promise.
As Seedify.fund we are supporting NFT projects through our launchpad currently, and in the next phase we will also have an NFT launchpad, as well as work in collaboration with artists, developers, and our community so we can help nurture this trend, while providing new benefits to our holders.
Huge thanks to the team from SeedifyFund for taking the time to hear the questions from our wonderful community!
Now, it’s our turn. We had plenty of questions about blockchain security, audits, and more. Check out the responses from the CertiK team below:
Q1: How long was the (Seedify) audit and what are some of the strong points and low points users should be aware of?
First things first, you can take a look at the audits over on the Security Leaderboard here.
Regarding timings; all audits are different in this regard, it’s a methodical procedure which essentially consists of parsing through a smart contract multiple times with a fine tooth-comb. As I’m sure you’ll understand, this process cannot be rushed under any circumstances, particularly with the often financial nature of smart contracts.
As you can see in the Security Leaderboard, there were a handful of issues highlighted by the CertiK Security Team, but the Seedify team promptly resolved each of them.
However, as we all know, there is no silver bullet for auditing.Audits provide protection pre-deployment meaning that it is only effective in identifying vulnerabilities and finding solutions before a DeFi smart contract goes live on-chain.
Please check our Security Leaderboard, which is a dynamic monitoring and a real-time scoring system to get more updated information about your favorite projects.
We must note that audits do not amount to an endorsement of a project, nor does it define the quality of a particular project.
Q2: Any plans to get listed (CTK) on bigger exchanges both CEXs and DEXs?
The team are in discussions with large exchanges and are planning to list in the near future. Stay tuned and follow us on Twitter to keep up to date!
Q3: It is acknowledged that a project needs to deal with solving a real-world issue or problem. What is the problem that your project primarily focuses on?
Many of our readers, and much of our community, will know CertiK to be innovators on the forefront of blockchain and crypto security. This isn’t restricted to static audits, it goes beyond that with novel solutions such as Skynet and security leaderboard which, when combined with our full security suite, serve to create a closed security loop, protecting projects and investors alike.
Did you know that, beyond blockchain, CertiKOS, a certified, concurrent operating system kernel and hypervisor developed at Yale University, is running in essential transport and self-driving cars!
Q4: How much is a Certik audit? I mean the average price. Did any of the projects audited by Certik turn out to be a scam?
Audits vary in price depending on contract complexity and length.
Again, an audit is not a silver bullet and does not guarantee infinite protection against any possible event. Some projects are willing to pay for an expensive audit but after the audit they could swap the code. This is why we developed a closed security loop with the entire CertiK security suite.
Q5: Does Certik have any vested interest beyond completing the audit?
Of course we do.
The security audit is not the end of the security assurance process, but the beginning.
As we always make clear, security audits are static. Due to the rapidly changing nature of the blockchain world, once a smart contract goes live in the production environment there’s a chance it may interact with other unaudited contracts which can, ultimately, impact the contract’s security. Furthermore, some contracts are dynamic and the contract owner, typically the team, can have the ability to alter a previously safe contract into something otherwise, post-deployment.
Therefore, in addition to auditing, the project must do more to guarantee security. That is why we’ve developed a ‘closed-loop’ when it comes to security, with Skynet, Security Leaderboard and CertiKShield.
Our newest weapon in our arsenal for fighting, and detecting, security risks is the Skynet Scanning System. Utilizing static and dynamic dual technologies, Skynet generates user-friendly, human-readable, security scores that evaluate whether the contract has potential risks of being hacked or generating code failures.
Our security products and services can form a perfect closed security loop whilst ensuring transparency. The CertiK DeFi Security Leaderboard, developed and established by us, relies on the above security tools and data to openly and transparently display the security scores of many DeFi projects.
Moreover, we are planning to launch more security products before the end of this year. Please join our community to stay up to date with our product offerings and company information!
Q6: We see a lot of blockchain projects focused solely on isolated geographic markets in this space. Engaging with the Asian market and vice versa for projects based in the East can often be a challenge. As you are already well established in Asia and even backed by Chinese governmental organizations and have already established the Open DeFi initiative in the Western market. What’s next when it comes to expansion?
A: At the beginning of 2021, CertiK’s China headquarters was established. After that, CTK, the native fuel of CertiK Chain, was listed on Indonesia’s largest exchange alongside others internationally(as you all know, CTK was listed on Binance at the very beginning, but that was just the start!), which means we’ll be well equipped to develop more communities and partners in China, Asia and throughout the globe in the future.
Our team is made up of professionals from every corner of the world, and we’re working on expanding our partnerships with multinational projects and companies. When it comes to international expansion, the team will execute this at a well-timed moment. Do keep an eye out for the latest CertiK news as we continue to grow!
Q7: What is the next big thing after your project is successful what more will we will expect in your ecosystem
A: For the remainder of 2021 you can expect us to continue securing the DeFi ecosystem and, in particular, the BSC projects. Diving into this community has been a great experience for us so far and working together with all of the great builders here has allowed us to carve out our niche on BSC. Beyond that, expanding adoption of Skynet and making the Security Leaderboard the go-to place to DYOR are big milestones for us.
Q8: As Education for crypto currency is necessary nowadays , what’s your plan to to attract those people who don’t know about cryptocurrency?
A:As a leading expert in blockchain security, CertiK will continue to share our knowledge of blockchain, cryptocurrency, and security, from the basics to more advanced topics, with the wider community.
Currently, our foundation Twitter is sharing their ‘term of the day’ series to bring you trivia related to the blockchain field. At the same time, the CertiK Twitter and blog is updating technical articles and pretty useful articles like Crypto Wallet Security Assessment Checklist related to blockchain. On some video media platforms in China, we’ve published a number of popular science videos of academics sharing blockchain and security knowledge.
In addition, our experts in the field of security are actively participating in conferences related to blockchain security and technology. For example, last year, our security expertise was invited by DEF CON, which is the "Oscars" of the geek community. This year we are continuing to give talks at the conference to spread blockchain knowledge and also bring our cutting-edge blockchain security technology to everyone. Recently, we just presented the topic of Understanding the security risk in DeFi at a BSC event. During July, we will participate in another event to give such a speech.
Q9: How do I know that a project has applied for a certik review?
A:Please check our Security Leaderboard to see if a project is audited by us or is onboarding. (Highlighted area are some onboarding projects)
If the audit is complete and published, you can click the project and check the full audit report.
If it is onboarding, then stay tuned for more information!
Q10: Have you any plan to launch NFTs?
A: NFTs are indeed one of the more rapidly growing areas this year. Certik does have connections with many NFT projects. But for now we are only focusing on security in the blockchain industry. With 3.5 years of industry-leading experience behind us, the team is laser-focused on refining our innovation in the security industry and sharpening the skill set of our entire team .CertiK has conducted more than 700 audits, audited more than 400,000 lines of code, and protected more than $30 billion in digital assets and software systems from security losses during 3 and half years. We will continue to make a deeper contribution to a more secure blockchain ecosystem
If you are interested in NFT projects, you may want to check our Security Leaderboard. We’ve audited a number of famous NFT projects and you can find them, and their security insights, on our Security Leaderboard.