Forta is happy to announce that Instadapp is using Forta to monitor their protocol for critical finance, governance and operational activity.
Instadapp is one of the longest-standing and most respected projects in DeFi. As an aggregator, they enable end users to access dozens of dapps, and create and manage complex investment strategies through a single interface. Today, over $4B in assets are managed through the Instadapp platform.
Since Instadapp launched in 2019, security and risk management have been a top priority for the team. Rigorous testing, audits and monitoring are all part of their approach to ensure their protocol is as secure as possible. When it came to real-time monitoring, Instadapp was looking for a solution that was highly reliable and easy to manage.
“Instadapp handles multiple protocols and many complex transactions between them, it was important for us to have a robust real time monitoring solution. Forta enabled us to develop a tailored solution to our suite of products so we can best track our smart contract activity” – Samyak Jain, CTO of Instadapp.
Whereas many DeFi teams using Forta outsource the development to a third party, Instadapp engineers developed their detection bot suite in house. They are monitoring real time token flows on and off the platform, as well as non-financial activities like governance.
Incubated by OpenZeppelin, Forta is the first decentralized network delivering real-time intelligence on the security and health of Web3 core infrastructure and dApps. Protocols, DAOs, investors and individuals can use Forta to receive real time insights on security, financial, operational and governance related events on L1s, L2s and sidechains.
Instadapp is a platform that enables users to access dozens of DeFi applications, and create and manage complex investment strategies through a single interface. Founded in 2019, Instadapp remains one of the longest-standing and most respected DeFi platforms. It currently manages over $4B in assets.