We’re extremely excited to announce smart contract audits as the first major new offering unveiled as part of The New Order. Tenset is entering this new market vertical with a goal to innovate and dominate.

Crypto world in desperate need for security

October 2022 was a record breaking-month for crypto platforms hacks - in total, over $718,000,000 was stolen from DeFi protocols. It’s a testimony to a perfect timing for Tenset to enter the blockchain security space which clearly is in desperate need and massively underserved.

Perfect symbiosis

Offering smart contract audits creates a perfect symbiosis with other products and platforms, like Tenset Gem Launch Platform, Incubator, and Infinity. Why?

Offering security audits, Tenset will have more access to early stage cryptocurrency startups with huge growth potential. Being an auditor for such projects positions us as a trusted partner and enables us to gain tremendous insight into the project foundations.

Moreover, the new offering strengthens Tenset’s cashflow and ensures more capital for buybacks and massive 10SET token burns. Deflation on steroids!

New approach

Tenset is entering the blockchain security space not as just another auditing company. Here are some problems we currently see with smart contract audits and how we plan to fix them.

Firstly, we believe a security audit is an extremely valuable document, inextricably connected with the smart contract itself. Everything valuable lives on blockchain and benefits from the immutable and decentralized nature of it. Why not smart contracts? We plan to introduce our own, innovative NFT standard for smart contracts. This will empower us to make security audits immutable, decentralized, and create on-chain connections to deployed smart contracts.

Secondly, audits discoverability. It’s not clear where to look for a security audit. Google it? Look at the project's page? In the project’s documentation? There is no standard place to look. Having smart contract audits as NFTs paired with modern apps and extensions will empower blockchain users to discover security audits for a smart contract they interact with in no time.

And finally, who’s actually reading those 40-page long reports? People need an easy way to digest the most important takeaways quickly. We believe building tools around that easy consumption will increase security and enable ordinary blockchain users to make more informed decisions about their investments.

To read more about our audit process, you can visit the new dedicated auditing page on our website: https://www.tenset.io/en/smart-contract-audits