Skip to main content

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

PRESS RELEASE. The world of audit has always had an inherent problem, the conflict of interest that comes from paying for audit services. Auditors are meant to be independent of their clients, but how can you be independent when you are auditing your employer? With countless instances of paid auditors issuing fraudulent attestations to keep their clients happy – say, Enron, WorldCom, and Tyco, to name just a few – the world is finally waking up to the need for alternative decentralized and independent solutions.

That’s why we’re enormously excited to be hosting SCATDAO’s public sale on the KICK.IO launchpad. Funded by Project Catalyst, Smart Contract Audit Token Decentralized Autonomous Organization (SCATDAO) is a new audit paradigm that performs decentralized, truly independent smart contract audits on Cardano, redefining the way audits are selected, performed, and financed.

It has been clear from the beginning that to ensure DeFi mass adoption the ecosystem requires independent audits using a consistent set of standards for certification of the code, as well as rigorous assessment of the project’s development team and its legitimacy. Nevertheless, the current system leaves the door open for Dev teams to influence their audit results. Not only does the current fee model cast the independence of many auditors into doubt, it also creates a system of inequality, where only well-funded dev teams can afford an audit.

That’s why SCATDAO was designed to avoid this inherent conflict of interest by creating a unique funding mechanism that self-finances their operations so that independence is always maintained. The token holders will be the ones who choose the projects they care for and want to be audited through a streamlined, standardized, and automated process. This method also provides critical infrastructure to Cardano by offering a free resource where dev teams can obtain a comprehensive audit, receive feedback on any bugs or potential exploits they were unaware of, and demonstrate to the general public that their protocols are safe to use.

Website | Twitter | Medium

Public sale on KICK.IO

SCATDAO’s public sale will kick off on February 21, 13:00 UTC and will run until February 24, 13:00 UTC. Mark the date to avoid the risk of missing out.

Ticker: Audit
 Price: $0.02 USD
 KYC: Yes
 IEO Start date: 2021-02-21 13:00 UTC
 IEO End date: 2021-02-24 13:00 UTC
 Total token supply: 1 Billion
 Available for sale: 15,000,000. (1.5%)
 Hard cap: 300,000
 Payment option: ADA, USDT, USDC

About KICK.IO

KICK.IO is a Cardano-based fundraising platform and project accelerator, designed to provide transparent, efficient, and fully decentralized crowdfunding services. KICK.IO is set to mature into a cornerstone of the new Cardano-dominated DeFi landscape, becoming the place where Cardano’s extensive community can come together to fund projects characterized by the immense potential for future success.

Our next-generation decentralized launchpad will be built according to the best DeFi industry practices, ensuring real-time settlement, top-notch security, interoperability, true decentralization, zero counterparty risk, while also being fully scalable to meet the needs of institutional investors. Unlike our competitors, we offer full support of Cardano native tokens and a suite of advanced DeFi tools that upcoming projects need to thrive and prosper.

Twitter | Telegram | Medium | Website

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.



from Bitcoin News https://ift.tt/nybuU7B
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...
10 comments
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...
Post a Comment
Read more