Who Audits the Auditors? Smart Contract Audit Token (SCATDAO) to Hold a Public Sale on KICK․IO – Press release Bitcoin News


PRESS RELEASE. The world of audit has all the time had an inherent drawback, the battle of curiosity that comes from paying for audit providers. Auditors are supposed to be unbiased of their shoppers, however how will you be unbiased if you find yourself auditing your employer? With numerous cases of paid auditors issuing fraudulent attestations to maintain their shoppers glad – say, Enron, WorldCom, and Tyco, to call only a few – the world is lastly waking as much as the necessity for various decentralized and unbiased options.

That’s why we’re enormously excited to be internet hosting SCATDAO’s public sale on the KICK.IO launchpad. Funded by Undertaking Catalyst, Good Contract Audit Token Decentralized Autonomous Group (SCATDAO) is a brand new audit paradigm that performs decentralized, really unbiased sensible contract audits on Cardano, redefining the best way audits are chosen, carried out, and financed.

It has been clear from the start that to make sure DeFi mass adoption the ecosystem requires unbiased audits utilizing a constant set of requirements for certification of the code, in addition to rigorous evaluation of the mission’s improvement workforce and its legitimacy. Nonetheless, the present system leaves the door open for Dev groups to affect their audit outcomes. Not solely does the present price mannequin solid the independence of many auditors into doubt, it additionally creates a system of inequality, the place solely well-funded dev groups can afford an audit.

That’s why SCATDAO was designed to keep away from this inherent battle of curiosity by creating a novel funding mechanism that self-finances their operations in order that independence is all the time maintained. The token holders would be the ones who select the tasks they look after and need to be audited by a streamlined, standardized, and automatic course of. This methodology additionally offers important infrastructure to Cardano by providing a free useful resource the place dev groups can receive a complete audit, obtain suggestions on any bugs or potential exploits they had been unaware of, and reveal to most of the people that their protocols are secure to make use of.

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Public sale on KICK.IO

SCATDAO’s public sale will kick off on February 21, 13:00 UTC and can run till February 24, 13:00 UTC. Mark the date to keep away from the chance of lacking out.

Ticker: AuditPrice: $0.02 USDKYC: YesIEO Begin date: 2021-02-21 13:00 UTCIEO Finish date: 2021-02-24 13:00 UTCTotal token provide: 1 BillionAvailable on the market: 15,000,000. (1.5%)Exhausting cap: 300,000Payment possibility: ADA, USDT, USDC

About KICK.IO

KICK.IO is a Cardano-based fundraising platform and mission accelerator, designed to supply clear, environment friendly, and absolutely decentralized crowdfunding providers. KICK.IO is about to mature right into a cornerstone of the brand new Cardano-dominated DeFi panorama, changing into the place the place Cardano’s intensive neighborhood can come collectively to fund tasks characterised by the immense potential for future success.

Our next-generation decentralized launchpad will likely be constructed based on the most effective DeFi trade practices, guaranteeing real-time settlement, top-notch safety, interoperability, true decentralization, zero counterparty threat, whereas additionally being absolutely scalable to satisfy the wants of institutional buyers. Not like our opponents, we provide full help of Cardano native tokens and a set of superior DeFi instruments that upcoming tasks must thrive and prosper.

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