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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 downside, the battle of curiosity that comes from paying for audit providers. Auditors are supposed to be impartial of their shoppers, however how will you be impartial if you end up auditing your employer? With numerous cases of paid auditors issuing fraudulent attestations to maintain their shoppers pleased – say, Enron, WorldCom, and Tyco, to call only a few – the world is lastly waking as much as the necessity for various decentralized and impartial options.

That’s why we’re enormously excited to be internet hosting SCATDAO’s public sale on the KICK.IO launchpad. Funded by Mission Catalyst, Smart Contract Audit Token Decentralized Autonomous Organization (SCATDAO) is a brand new audit paradigm that performs decentralized, really impartial 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 impartial audits utilizing a constant set of requirements for certification of the code, in addition to rigorous evaluation of the mission’s improvement crew and its legitimacy. However, the present system leaves the door open for Dev groups to affect their audit outcomes. Not solely does the present charge 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.

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That’s why SCATDAO was designed to keep away from this inherent battle of curiosity by creating a singular 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 initiatives they take care of and wish to be audited by means of a streamlined, standardized, and automatic course of. This technique additionally supplies 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 display 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 danger of lacking out.

Ticker: Audit
Worth: $0.02 USD
KYC: Sure
IEO Begin date: 2021-02-21 13:00 UTC
IEO Finish date: 2021-02-24 13:00 UTC
Whole token provide: 1 Billion
Out there on the market: 15,000,000. (1.5%)
Exhausting cap: 300,000
Cost 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 totally decentralized crowdfunding providers. KICK.IO is about to mature right into a cornerstone of the brand new Cardano-dominated DeFi panorama, turning into the place the place Cardano’s in depth group can come collectively to fund initiatives characterised by the immense potential for future success.

Our next-generation decentralized launchpad can be constructed in response to the very best DeFi trade practices, guaranteeing real-time settlement, top-notch safety, interoperability, true decentralization, zero counterparty danger, whereas additionally being totally scalable to fulfill the wants of institutional traders. In contrast to our rivals, we provide full assist of Cardano native tokens and a collection of superior DeFi instruments that upcoming initiatives have to thrive and prosper.

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It is a press launch. Readers ought to do their very own due diligence earlier than taking any actions associated to the promoted firm or any of its associates or providers. Bitcoin.com is just not accountable, immediately or not directly, for any injury or loss brought about or alleged to be brought on by or in reference to using or reliance on any content material, items or providers talked about within the press launch.

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