Through the rise of various Ethereum-based tokens and smart contracts, there have been multiple examples of code going awry due to miscalculation or misjudgement. Placing a decimal in the wrong place could have devastating consequences for an ICO and long-term effects on investor confidence in the company or contract.
Because we want to protect ourselves and help developers avoid situations where a bug is critical. To solve this problem, we are building the VEON DAO: a decentralized auditing engine that allows anyone to easily review your code at a price they are willing to pay.
Using a decentralized approach to auditing source code, edits and reviews can be done quickly without the need for intermediaries. With the VEON DAO, developers can request an inspection of their code from anyone in the world, allowing reviewers to inspect the listed product. Developers will have the option to set their quote price, required reputation score, and the number of auditors they are looking for.
A software developer can then easily put their funds into the contract by publishing their listing.
The VEON DAO operates with multiple components, so that there are crypto-economic benefits for the parties involved in the project.
These components include the TERMINAL: an application used for contract listings, the 2-of-2 escrow contract between the auditor and the programmer, the token of choice (ETH/DAI/STABL) used for payment, as well as a additional contract that rewards VEON token holders with quarterly dividends based on their percentage of holdings. When combined, these components come together to create an environment that is beneficial to the entire ecosystem.
Additionally, in the event of any audit disagreements, VEON token holders will be able to choose to resolve any disagreements based on the mediation model put forward by the First Blood development team. This allows for the option of mediation, where disputes can be resolved with the participation of the community.
We can assist you make sure that your Ethereum application is prepared for release and is built to safeguard users with our thorough smart contract audit services.