BNB Chain, Blockchain Security Firms Start AvengerDAO to Protect Users

AvengerDAO will be run by the community with the ambition to set an industry standard for safe practices.

AccessTimeIconSep 20, 2022 at 2:00 p.m. UTC
Updated May 11, 2023 at 4:17 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

BNB Chain, a blockchain closely associated with Binance, the world's largest crypto exchange, has joined hands with leading blockchain security audit firms to start security infrastructure project AvengerDAO, the platform announced on Tuesday.

  • The founding partners of the decentralized autonomous organization (DAO), entities that have no central leadership, include security audit firms such as Certik, Go Plus, SlowMist, Zokyo, BlockSec, Hashdit, Verichains, and other crypto companies like Pessimistic, CoinMarketCap, TrustWallet, PancakeSwap, BSCtrace(NodeReal), BSCscan, MathWallet, DappBay, Coin98 and Opera.
  • BNB Chain is the world's largest smart contract blockchain and has processed over three billion transactions to date and has more than 1,300 active dapps.
  • Decentralized security app (Dapp) Hashdit has integrated with decentralized exchange (DEX) PancakeSwap to facilitate contract scanning for users of the DAO.
  • The system will provide a multilayer security through Meter, a passive API (application programming interface) system that will allow applications to request security ratings and send back alerts to flag bad actors, the announcement said.
  • Two additional platforms, Watch, a subscription based alert system, and Vault, a programmable fund management system, will warn subscribers in real time when security exploits occur and assist safe passage of funds between parties according to the providers' internal rules, respectively.
  • "We want to enhance further adoption of blockchain technology by setting an industry standard for safe practices," said Gwendolyn Regina, investment director at BNB Chain.
  • Binance has previously announced plans to issue "soulbound" tokens that will act as identity passports on the BNB blockchain to all users who complete know-your-customer (KYC) requirements.
  • Aptos Is Not a Security: Anchorage General Counsel
    00:45
    Aptos Is Not a Security: Anchorage General Counsel
  • Telegram Users Can Now Send Crypto to Each Other via Wallet Bot: Report
    07:20
    Telegram Users Can Now Send Crypto to Each Other via Wallet Bot: Report
  • Bitstamp CEO on Regulatory Implications of Ethereum’s Proof-of-Stake Transition
    01:14
    Bitstamp CEO on Regulatory Implications of Ethereum’s Proof-of-Stake Transition
  • Grayscale, Disclosing SEC Queries, Says Cryptos XLM, ZEC, ZEN May Be Securities
    05:05
    Grayscale, Disclosing SEC Queries, Says Cryptos XLM, ZEC, ZEN May Be Securities

  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Amitoj Singh

    Amitoj Singh is a CoinDesk reporter.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.