Poly Network Using Forta to Monitor Protocol Risks
Forta | December 21, 2021
Forta is happy to announce that Poly Network is now using Forta to monitor for security and operational risks involving its bridge contracts.
Poly Network is a cross-chain bridge protocol that enables users to move assets between a variety of L1 and L2 networks. If a user wants to move tokens from one blockchain to another, they can’t simply transfer them to the other chain. Instead, the tokens are locked up on one chain and an equivalent amount is issued on another chain. The smart contracts that facilitate this activity are called “bridges,” which keep track of the locked and issued assets across multiple chains. Poly Network supports over 15 blockchains, including Ethereum, Polygon, Avalanche, Fantom, BSC, Arbitrum, Optimism, Heco, OEC, Neo, Ontology, Zilliqa, Elrond, xDai, etc. and over 100 different tokens.
Operating a cross-chain bridge is an exercise in bookkeeping. When the Poly Network team approached Forta, their primary concern was ensuring that the source and destination chains were always in sync, and that the end users on both sides match. The Forta agents monitoring Poly Network bridges are monitoring lock and unlock activity in real time and alerting the Poly team whenever chains are out of sync.
The security of cross-chain assets is a top priority for the Poly Network, and the team wanted a runtime monitoring and alerting infrastructure that was robust and reliable. They believe it is critical that Web 3 security provides infrastructure with verifiable uptime that can’t be stopped because it is maintained by a decentralized group of node runners.
As part of their integration process, Poly Network leveraged Forta’s agent developer community. They worked closely with Limechain, one of the most experienced teams in the Forta community, to develop the agents.
In our journey to create the most reliable cross-chain bridge, we recognize the importance of security and risk monitoring. By integrating with Forta, we now have a reliable, scalable runtime security solution for our contracts and the bonus of having access to an incredible community of security-first teams and developers. We are all part of creating a new world of Web 3.0 ”
Incubated by OpenZeppelin, Forta is the first decentralized runtime security protocol for smart contracts. Protocols, DAOs, investors and individuals can use Forta to monitor transaction activity and receive real time alerts on security, financial, operational and governance related events on L1s, L2s and sidechains.
About Poly Network
Poly Network is an interoperability protocol for heterogeneous blockchains. Poly Network offers three modes of service, including cross-chain asset transfer, cross-chain swap and NFT cross-chain service. Since the launch, the protocol has enabled cross-chain asset transfer of almost $15 billion USD involving more than 280K addresses on different blockchains, and its TVL surpasses $1 billion USD.
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