Blend is a lending protocol implemented on Soroban, which implements the logic for several components of a liquidity pool - namely an emitter, responsible for the generation of rewards in the form of BLND tokens, liquidity pool instances, and a backstop which provides insurance for the liquidity pools.

The purpose of this research was to audit all components of the Blend protocol, with the goal of validating the architecture and design, and strengthening any assumptions of soundness, security and robustness of the DeFi application.

Usually, our audits are performed on a frozen code base, pinned to a certain commit (commit hash: 5a64f8b9a8472b232f9fefe861b2638993b894c8)

However, the Blend code base is still under continuous development, and we performed our research on the live repository.