NFT finance Leveraging Non-Fungible Tokens

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NFT finance Leveraging Non-Fungible Tokens ( nft-finance-leveraging-non-fungible-tokens )

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Chapter 5 Evaluation The project set-out to be a useful addition to the DeFi ecosystem and in this section we will look at multiple metrics that measure its success in achieving this. Being a product that we intend to release on the Main Ethereum network, we will also discuss more user feedback received during the final iteration of the Human Centered Design research process. To begin this section, I will re-iterate the two main features of the platform: • Leasing: peer-to-peer leasing of NFTs. • Lending: peer-to-peer loans having NFTs locked as collateral. They enable new interactions with NFTs, leveraging the ownership of those crypto-assets. 5.1 Smart Contract Security We have taken the following security measures for our smart contracts: • Use of OpenZeppelin standards such as IERC721 , Pausable and IERC721Receiver as discussed in the implementation section. Using their audited smart contracts and standard practices enabled us to cor- rectly handle ERC-721 tokens. • Making the smart contracts Pausable will add a layer of security in case any breaches are to be found at a later stage. As discussed in the implementation chapter, the return of funds or the return of NFTs is not paused, only the addition of new offers. • Usage of Checks-Effects-Interactions Pattern by performing checks and defin- ing modifiers that are required before the function is executed. • Interactions with external smart contracts are kept as last step of the functions in order to avoid state changes after the call, should a smart contract be malicious. This can also address re-entrancy attacks. • Using call() instead of transfer() or send() . 62

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