- Edited
Summary
The DAO has been working on many new functionalities since our last audit, two of which are especially important to the security of the protocol. These two would be in scope for the audit:
1. WSOHM => We have already seen some protocols adopt the WSOHM contract but to get this integrated into other partner protocols they have requested an audit of this contract
2. Olympus Pro => A new product of Olympus which would need audits to the contracts as well.
Motivation
While an audit does not prevent any exploits, it can build trust both internally for our dev team as well as externally to potential partnership protocols. Because we believe that there is a huge difference in audit firms, we have opted for an industry acknowledged top tier auditing firm in Runtime Verification for which we would also like to enter a longer-term partnership.
Due to an unforeseen opening in their calendar, this audit can start already at the end of September as opposed to December/January which is why we want to take this unique opportunity to get both contracts audited as soon as possible. Because we are working with a (very) tight deadline, we will go to voting sooner than usual and will start the snapshot vote already after 24 hours.
They estimated the cost of the audit at a maximum of 200K of which 40% could be paid in OHM and the other 60% in stables.
Proposal
Allocate up to $200K of the DAO funds for the audit of both the WSOHM as well as the Olympus Pro contracts.
Vote
1. For the proposed audit
2. Against the audit