Revest Finance Innovates with Strongest Security in DeFi

How It Works:

Over the past few days, we have quietly upgraded our token storage vault system to a radically more compartmentalized design. The current industry standard for token storage relies on centralization of deposits: when a deposit is made to a vault, it is recorded to an internal ledger and the tokens are then sent to an often-singular “depository” contract, where they are pooled either with all other deposits or with all other tokens of their ticker. At best, tokens are pooled in different contracts based on their asset-type, as is the case with Uniswap and similar contracts. At worst, they are stored in the same contract as all other tokens, as is the case with 99% of token-locking solutions currently in-use. To solve this, Revest has devised an innovative decentralized alternative.

Figure 1: Revest leads the way in vault decentralization


Revest’s new value storage standard, “Sandboxed Counterfactual Storage”, is based on several principles. The first of these is sandboxing, where one FNFT series will now be represented by one storage vault (also referred to as “Smart Wallets” in our work with LiquidDriver and SpiritSwap). For each FNFT created, one dedicated token-storage contract will be utilized. Each vault is only accessible by the FNFT series associated with it. This ensures that any potential attacker attempting to place the token vault in a state of insolvency will be unable to do so, as any new FNFT they attempt to utilize as an attack vector will not have access to the vault they desire to target. The only way to withdraw funds from a vault is to own the FNFT needed to access it. Through the magic of EIP-1167, this has been accomplished in a way that is 17% cheaper in gas costs than the previous Revest Protocol storage solution was. It has the further advantage of natively supporting rebase tokens without costing any additional gas or requiring unusual tracking systems.

Counterfactual Storage

How can this possibly be cheaper? This is where the concept of “Counterfactual Storage” comes into play. Through EIP-1167, we are able to predict what address a given FNFT series will have as its sandboxed vault prior to deployment. Rather than deploying the smart-wallet contract at this during vault-creation, we can instead send value to this address — this is possible even before a contract has ever been deployed there. That is why we refer to this as “Counterfactual Storage”: no contract has ever existed at this address, and until the FNFT underlying it is burnt, none ever will (and even then, never between blocks).

What does this mean for me?

Going forwards, all new FNFTs will utilize this standard, ensuring that no attack vectors can ever again render our systems insolvent. Porting existing FNFTs to it is not possible, however, they will continue to function as they always have, without any interruption of service.

What does this mean for the Industry?

We hope to inspire others with this system, as it is the most secure methodology for securing deposit that we have ever come across. As always, our code is open-source, and we highly recommend either utilizing our core systems or replicating our mechanism design to those in need of a value-storage solution. A safer DeFi for others is a safer DeFi for all.



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Revest Finance

Revest Finance

The world's first platform to offer instant liquidity for locked assets.