Making Web3 Audits More Efficient For Everyone
In the wild west of Web3, performing audits on projects is invaluable: professional auditors perform a range of checks to evaluate projects, from studying the technical details behind the smart contract to conducting a business review of the project’s utility or tokenomics.
However, it can be difficult for a Web3 project to find auditors who suit in terms of availability, affordability, and skill set, while auditors themselves have to spend time and money on marketing and sales to bring themselves to the attention of projects.
AuditOne, the latest addition to the Touchpoint Open Builders Program, seeks to help both groups. Describing itself as a marketplace for smart contract audits (they plan on expanding the offer to other, non-technical audits in the future), AuditOne pools together verified freelancers to deliver peer-reviewed audits. With a platform designed to fit the needs of auditors and Web3 projects, AuditOne promises to make the process more efficient.
The problem of scams and hacks in crypto is very real. If you’re a regular in crypto social media, it doesn’t take long to hear of a project that pulled the rug from under its users or has had millions of user funds hacked and stolen. Exploits like these lead to a terrible experience for crypto holders and intimidate people from entering the crypto space. At AuditOne, we want to secure the ecosystem and help great projects stand out.
We position AuditOne as a highly competitive alternative to traditional audit firms. We onboard auditor talents from the top ranks of bug bounty platforms and audit firms with strong reputations and let them work together in pools tailored to the needs of a project. We update our community frequently on social media while our app facilitates the entire audit journey.
We want to revolutionize the security sector by enabling auditors to be highly flexible and efficient. On average, our auditors receive 85% of the revenue from the audit and we equip them with audit tools to save time. Our auditors receive XP points based on their completed audits, provided information and other tasks; the more XP points they accrue, the higher their ranking on our auditor dashboard and the more of our $AUDIT token they receive, which in turn will be stakeable in several ways - check out our litepaper for more on our tokenomics. We are also working on a radically new concept beyond the smart contract audit to assess tokenomics and other aspects (such as multi-signature) to give the community a more holistic view of the project.
The core team behind AuditOne has been working together for a long time, with more than 15 years of combined experience in crypto: read more about them on our website. The auditors on our platform have been part of numerous audits on bug bounty platforms and at traditional audit firms. Our advisors have founded multiple companies and support us with their experience and network.
The team is currently focusing on developing the platform while completing audits in parallel. Our previous audits (for example, with the projects ShimmerSea and Newwit) prove to us that our concept works, and now it’s all about scaling.
Shimmer will enable us to create a token economy (which we aim to introduce on Shimmer in Q2 2023) with fast and feeless transactions to incentivize all stakeholders in the AuditOne ecosystem. Again, more on that can be found in our Litepaper. With AuditOne we want to establish a community-driven environment with the IOTA community at the forefront.
We have started giving away our Shimmer NFT “White Hat Harry” to reward early supporters and community members. The NFTs will provide pre-access to our public sale and carry other utilities once our new app goes live. Stay tuned!”
Auditors have an important role to play, not only in the success of individual projects but in bringing trust and accountability to web3 as a whole. That’s why we’re especially pleased to welcome AuditOne to the Touchpoint ecosystem, and look forward to seeing their development. To learn more, we’ve already mentioned their litepaper, and you can engage with them on Twitter and Discord.
AuditOne joins the Touchpoint Open Builders Program, offering participants a community of like-minded builders, direct access to funding, experts, knowledge, and general support to launch and scale the next generation of decentralized applications and infrastructure on the Shimmer networks. You can learn more about how Touchpoint works and how to become a part of it here.
Assembly is a scalable multi-chain network for sharded, composable smart contracts. It will deliver flexibility, scalability, and interoperability, and is a smart contract network for mainstream innovation and mass adoption. It does so by offering inexpensive, fast, and secure smart contracts, trustless and feeless smart contract interoperability, full customization and composability of dApps, compatibility with Ethereum virtual machine, and other benefits.
In Assembly, anyone can launch their own smart contract chains with the flexibility to customize fee and incentive structures. The chains are overseen by permissionless and decentral dynamic validator committees of nodes that execute and validate smart contracts; these validators are assigned to their chains by a root chain through a marketplace, and the validators are rewarded with the network’s native token, ASMB.
Every project that participates in Touchpoint is given the opportunity to introduce itself in its own words. Statements made by projects are not verified by Touchpoint, Shimmer, Assembly, or the IOTA Foundation and should not be taken as an endorsement. Individuals are advised to always conduct their own due diligence when engaging with any crypto projects.
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