As ENI continues building enterprise-grade blockchain infrastructure, security becomes a critical foundation for every AppChain and application deployed across the ecosystem. Our partnership is focused on ensuring builders can innovate with confidence from day one.

Securing an Enterprise-Grade Blockchain Ecosystem

ENI is designed to support a growing network of AppChains, each with its own execution environment, architecture, and security assumptions. Unlike traditional EVM networks, ENI introduces architectural differences that require a specialized security approach.

Its stack combines Cosmos SDK, Tendermint, and an EVM implementation with important execution-layer divergences, including:

• PREVRANDAO returning a block-time hash instead of Ethereum’s expected behavior.
• COINBASE mapped to the fee collector.
• IAVL state storage replacing Ethereum’s Merkle Patricia Trie (MPT).
• Execution semantics that differ from standard Ethereum assumptions.

These differences mean that security reviews cannot rely on generic EVM audit methodologies. Every audit must account for ENI’s architecture, execution model, and chain-specific behavior.

What This Partnership Means

As ENI’s Official Security Partner, Safe Edges will help secure projects building across the ecosystem by providing:

• Smart contract security audits tailored specifically for ENI.
• Architecture and protocol security reviews.
• Early-stage security guidance for AppChain builders.
• Best practices for secure development and deployment.
• Ongoing collaboration to strengthen ecosystem-wide security standards.

Our team has experience securing leading Web3 protocols and understands that every blockchain ecosystem requires security aligned with its own infrastructure—not a one-size-fits-all checklist.

Building a More Secure Future

The success of any blockchain ecosystem depends on the trust developers and users place in it. By working closely with ENI and its builders, Safe Edges is committed to helping projects launch securely, reduce risk, and build resilient decentralized applications.

We’re proud to join the ENI ecosystem and look forward to supporting every team building the next generation of decentralized infrastructure.

ENI × Safe Edges = Stronger security for every builder.

Here’s to securing every team building on ENI.

Axios Finance is a decentralized money market protocol built on the Fuel Network that enables fixed-rate, fixed-duration lending and borrowing through isolated markets. The entire Axios lending protocol has been comprehensively audited by Safe Edges, ensuring strong security guarantees across its core lending, borrowing, and market isolation mechanisms.

Unlike traditional DeFi lending protocols that rely on pooled liquidity and floating interest rates, Axios introduces a request–offer based credit system, where every loan is created with explicitly defined and immutable terms.

The core objective of Axios is to bring predictability, transparency, and capital efficiency to on-chain credit markets. By locking interest rates and loan durations at execution, Axios eliminates yield volatility and allows both borrowers and lenders to plan their capital usage with certainty. a fundamental requirement for scaling real financial activity on-chain.

What Is a DeFi Lending Protocol?

A DeFi lending protocol is a collection of smart contracts that enables permissionless borrowing and lending of digital assets. At a high level, these protocols:

• Accept deposits from lenders
• Allow borrowers to take loans against collateral
• Automatically calculate interest
• Enforce collateralization constraints
• Liquidate positions when risk thresholds are breached

Importantly, the protocol itself never owns user funds. All assets remain locked in smart contracts and are governed entirely by code. Common DeFi lending architectures include pool-based lending (Aave-style), peer-to-peer lending, and isolated market lending.

Axios belongs to the last category, but with a critical twist: fixed-rate, fixed-term execution.

Why Fixed-Rate Lending Matters in DeFi

The biggest limitation of most DeFi lending systems is not yield generation it is yield uncertainty.Floating interest rates change continuously based on liquidity utilization, capital inflows and outflows, and market sentiment. As a result:

• Borrowers never know their true cost of capital
• Lenders cannot predict their final returns
• Long-term planning and hedging become impractical

Fixed-rate lending solves this by locking in:

• The total repayment amount for borrowers
• The exact yield for lenders
• The duration of capital commitment for both parties

This is the same fixed-income model that underpins trillion-dollar credit markets in traditional finance. Axios brings this proven model natively on-chain.

What Are Isolated Markets?

In Axios Finance, an isolated market means each loan operates as a completely independent risk unit. Every borrow–lend position has its own collateral, repayment terms, maturity, and liquidation conditions, with no shared liquidity or shared debt across users.

If a borrower defaults or is liquidated, the impact is strictly limited to that single loan and its counterparty. Losses are never socialized, bad debt cannot spread, and the protocol itself remains unaffected. This design is essential for fixed-rate and fixed-duration lending, where capital must be locked with clearly defined risk boundaries from the moment a loan is executed.

How Isolated Markets Differ From Pooled Lending (Aave-style)

Pooled lending protocols aggregate all deposits into shared liquidity pools from which all borrowers draw funds. Risk is distributed across the entire system, interest rates float based on utilization, and liquidation failures or oracle issues can affect all lenders simultaneously.

In contrast, Axios’s isolated markets eliminate shared risk by assigning capital on a per-loan basis. Interest rates and durations are locked at execution, collateral is tied exclusively to that loan, and liquidation affects no other positions. This design prevents systemic contagion, removes yield uncertainty, and enables precise risk pricing . making isolated markets fundamentally better suited for fixed-rate, long-duration credit than pooled models.

Why Fuel Network Enables Axios

Axios is built natively on the Fuel Network to leverage its high-performance execution environment.

Fixed-rate lending requires orderbook-style matching, not passive liquidity pools. This demands fast, deterministic execution with minimal contention something most account-based blockchains struggle with.

Fuel’s UTXO-based architecture and parallel execution model enable:

• High-throughput order matching
• Deterministic and predictable execution
• Reduced state contention and lower latency

These properties make on-chain fixed-term credit markets practically viable at scale.

Borrower                                Lender
   │                                      │
   │ Create Loan Request                  │ Create Loan Offer
   │ (amount, collateral,                 │ (amount, collateral,
   │  repayment, duration)                │  yield, duration)
   │                                      │
   └──────────────┐            ┌──────────┘
                  ▼            ▼
              On-chain Orderbook (Axios)
                  │
          Atomic Request–Offer Match
                  │
          ┌───────┴────────┐
          │ Loan Executed  │
          │ Fixed Rate     │
          │ Fixed Duration │
          └───────┬────────┘
                  │
        Isolated Loan Position
   (Collateral + Debt locked independently)
                  │
      ┌───────────┴───────────┐
      │                       │
 Repayment at Maturity   Auto-Liquidation
 (Predictable cost)      (If risk breached)

Isolated Market Design

Axios uses isolated markets instead of shared liquidity pools.

Each loan exists as an independent risk unit:

• A liquidation or default affects only that specific loan
• Losses are never socialized across the protocol
• Bad debt cannot propagate system-wide

This isolation is critical for fixed-rate and long-duration loans, where pooled liquidity models introduce unacceptable systemic risk.

Core Protocol Features

Axios is built around explicit loan primitives rather than abstract liquidity pools. Core features include:

• Borrower-created loan requests
• Lender-created loan offers
• Atomic request–offer matching
• Fixed-term repayment schedules
• Automated liquidation
• Auto-expiry of unfilled orders

Loan Requests: Borrower Perspective

Borrowers initiate loans by creating loan requests with fully defined parameters:

• Asset token: Token the borrower wants to receive
• Asset amount: Amount to borrow
• Collateral token: Asset used as security
• Collateral amount: Locked collateral
• Repayment amount: Total repayment including interest
• Duration: Fixed loan term

Borrowers can enable automatic liquidation when collateral ratios fall below defined thresholds. Once created, the request is publicly visible on-chain and can be filled by any lender.

Loan Offers: Lender Perspective

Lenders can create loan offers with predefined terms:

• Asset token: Asset being lent
• Asset amount: Borrowable amount
• Collateral token: Accepted collateral
• Collateral amount: Required security
• Repayment amount: Locked-in yield
• Duration: Loan maturity

Lenders may enable automated liquidation rules. Collateral valuation is powered by Stork price oracles

Why Axios Is the Future of Fixed-Term Capital

Axios removes uncertainty from decentralized credit markets:

• Borrowers gain predictable financing costs
• Lenders earn stable, transparent returns
• Traders gain tools for hedging and planning
• Institutions gain a familiar fixed-income model

Conclusion

Axios Finance represents a significant evolution in DeFi lending architecture. By combining fixed-rate lending, isolated markets, orderbook-style execution, and Fuel’s high-performance execution layer, Axios addresses core flaws in existing lending protocols.

Predictable credit, stable yield, and transparent risk enforcement are essential for scaling decentralized finance beyond speculation. Axios demonstrates how real fixed-income markets can be built natively on-chain.

Security & Audit Assurance

Advanced lending protocols require more than surface-level reviews. Safe Edges conducted a deep, end-to-end security audit of the entire Axios lending protocol, covering isolated markets, fixed-rate credit logic, and core financial invariants. With proven expertise in auditing complex lending architectures, Safe Edges helps protocols like Axios scale securely with confidence and trust. If you’re looking to secure your code with a deep, expert-level audit, just reach out to us.

Safe Edges Insights

This is exactly what Moor, created by Rig Labs, brings to Fuel.

Moor introduces USDM, a new over-collateralised stablecoin backed by real and trusted assets like ETH, USDC, and stFUEL. With Moor, users can keep their assets, borrow against them, and use that borrowed liquidity across Fuel DeFi all without selling anything.

And because Moor is designed to become a core financial primitive in the Fuel ecosystem, its security is treated with the highest priority. The protocol follows rigorous audit standards, with multiple layers of review performed by Safe Edges, one of Fuel’s closest and most trusted security partners. Safe Edges’ team of industry-leading blockchain security experts ensures that Moor’s borrowing engine, collateral logic, and liquidation mechanics are reviewed with world-class precision. This gives users and builders confidence that Moor is not only powerful but also protected by top-tier security engineering.

Let’s break this down in the simplest way possible.

What Is Moor?

Moor is a borrowing and liquidity engine built specifically for the Fuel blockchain.

Think of it as:

• A vault where you can deposit your crypto
• A system that lets you borrow stablecoins (USDM) against your deposit
• A way to make your assets more useful without selling them

You lock assets → system checks value → you mint USDM → you use USDM freely.

This is how DeFi borrowing works on chains like Ethereum, and now Fuel has its own version, powered by Moor.

Why People Need Something Like Moor

Without a borrowing engine, your crypto just sits in a wallet.

With Moor, your assets become productive:

• You can earn yield
• You can borrow without selling
• You can use the borrowed stablecoin in DeFi
• You stay exposed to your original assets (ETH, stFUEL, etc.)

This makes DeFi more flexible and increases activity across the whole Fuel ecosystem.

What Is USDM? (Fuel’s New Stablecoin)

USDM is the stablecoin that Moor lets you mint.

It is over-collateralised, which means the value backing each USDM is more than 1:1.
For example:

• To mint 100 USDM, you may need to lock $150 worth of ETH or stFUEL.

// Moor: borrowing engine (Fuel)
// ---------------------------------
// Purpose:
// Moor allows users to lock high-quality collateral and mint USDM,
// a stable, over-collateralised token usable across the Fuel DeFi stack.
//
// Key assets accepted:
// - ETH : blue-chip collateral
// - USDC : stable, trusted reserve
// - stFUEL : yield-bearing staking derivative (keeps earning while deposited)
//
// Flow (simple):
// 1) User deposits collateral into Moor (ETH / USDC / stFUEL).
// 2) Moor stores collateral and calculates safe collateral ratios.
// 3) User mints USDM up to permitted loan-to-value (LTV).
// 4) USDM can be used in lending, DEX, vaults, and strategies.
// 5) If collateral value declines below maintenance ratio -> liquidation mechanism triggers.
//
// Benefits (one-liners):
// - Maintain exposure to original assets while unlocking liquidity.
// - Earn staking yield (when using stFUEL) and still borrow.
// - Provide a native, over-collateralised stablecoin (USDM) for builders.
// - Increase TVL and composability across Fuel protocols.

// Example scenario:
// // Alice has 10 stFUEL (worth $1000).
// deposit(stFUEL, 10)
// allowMint = computeMintLimit($1000, collateralFactor=0.66) // example CF
// aliceMints = mintUSDM(allowMint) // Alice now has liquid USDM to use across Fuel

What backs USDM?

USDM is backed by:

• USDC — stable, trusted
• ETH — strong, blue-chip collateral
• stFUEL — Fuel’s staking token that earns yield

This combination gives USDM:

• High stability
• Strong collateral protection
• Useful integrations in DeFi
• Potential ecosystem-wide adoption

Why stFUEL Support Is a Big Deal

stFUEL is a yield-bearing token:
You stake FUEL → you receive stFUEL → stFUEL earns staking rewards.

Now Moor lets you:

1. Deposit stFUEL
2. Borrow USDM
3. Use USDM across DeFi
4. Still earn staking yield from the stFUEL you deposited

This creates a powerful loop:

• You earn yield
• You get extra liquidity
• You stay exposed to FUEL
• You can reinvest or use DeFi strategies

This is how DeFi becomes capital-efficient.

Where Can USDM Be Used?

Once you mint USDM, you can use it across the top Fuel protocols, including:

• O2
  Money market where you can lend, borrow, and loop positions.
• BakoSafe
  Secure vaults, multi-sig, and controlled storage for assets.
• ReactorDEX
  One of the main DEXs on Fuel — trade or provide liquidity.
• Microchain DLM
  Structured products and DeFi strategies built on Fuel.

This composability makes USDM useful from Day 1.

How Moor Helps the Entire Fuel Ecosystem

Moor isn’t just a standalone borrowing app.
It is a core financial infrastructure block for Fuel.

Here’s how it strengthens the ecosystem:

1. More Liquidity

People can mint USDM without selling ETH, USDC, or stFUEL.
This increases liquidity across all Fuel protocols.

2. Better Capital Efficiency

One asset now does multiple jobs:

• Collateral
• Yield
• Borrowing power
• Liquidity source

3. Stablecoin for Builders

Developers now have a safe, over-collateralised stable asset to integrate into:

• Lending
• Trading
• Yield strategies
• Payment systems

4. Stronger DeFi Flywheel

The more people use USDM, the more TVL and activity Fuel gets.
The more protocols integrate USDM, the stronger the Fuel DeFi loop becomes.

       +-------------------+
       |       Moor        |
       |  (borrowing eng.) |
       +-------------------+
         /     |       \
        /      |        \
      ETH     USDC     stFUEL
        \      |        /
         \     |       /
          ->  [ USDM ]  <-   <-- minted stablecoin (over-collateralised)
                    |
----------------------------------------------
|         |             |                    |

Lending DEX Vaults Money Markets / Strategies

Why Moor Stands Out (Compared to Other Chains)

Many chains have borrowing engines like MakerDAO on Ethereum.

But Moor is special because:

• Fuel has parallel execution, so transactions are extremely fast
• Fuel’s UTXO architecture avoids congestion
• Fees are low
• stFUEL can be used without complicated bridging
• The system is built natively for Fuel, not ported from EVM

This makes Moor naturally optimized for high performance and smooth user experience.

Acknowledging Rig Labs

Rig Labs deserves credit for designing Moor with:

• A strong technical foundation
• Safe collateral management
• Clear documentation
• A long-term vision focused on Fuel’s growth

Their work is helping transform Fuel from “just a fast chain” into a complete, self-sustaining DeFi ecosystem.

Moor is not hype it’s a real financial primitive that Fuel needed to unlock the next phase of adoption.

Final Thoughts

Moor is bringing a real borrowing engine and a strong stablecoin (USDM) to Fuel.
This means:

• More liquidity
• More opportunities
• More yield
• More user-friendly DeFi
• A stronger economy built around FUEL

With support for ETH, USDC, and stFUEL, Moor is positioned to become one of the most important protocols in Fuel’s DeFi landscape.

As Moor becomes a core financial layer powering Fuel’s DeFi economy, its reliability depends on rigorous security. Every mechanism from collateral validation to liquidation execution is protected through deep, expert-level auditing. The entire system is secured and continuously validated by Safe Edges, Fuel’s most trusted audit partner. With multi-layered code review, adversarial testing, and high-severity vulnerability analysis, Safe Edges ensures Moor operates safely, predictably, and at the highest security standards.

Because in DeFi, stability isn’t just backed by collateral
it’s backed by the strength of the security behind it.

At Safe Edges, we specialise in securing high-value protocols across the Fuel ecosystem and beyond. Our team consists of world-class smart contract auditors, top-ranked white-hat hackers, and experts trusted by leading Web3 brands. We combine advanced manual review, formal analysis, and deep edge-case testing to protect protocols from the most critical real-world attack vectors.

If you’re building on Fuel, Sway, or any blockchain platform and want to launch with confidence,
Safe Edges is your security partner.
Reach out to us for audits, consulting, threat modelling, or end-to-end security strategy and let us help you build safely at scale.