New blockchain based platforms, such as Win-Win, that doesn't have a 3rd party auditing may lack confidence from users.
Get an expert 3rd party to audit the smart contracts of the Win-Win platform.
This is the total amount allocated to Win-Win Platform Auditing.
Mediators.ai (previously known as Win-Win) is a decentralized dispute resolution platform and marketplace built on the Cardano blockchain. It allows disputing parties to find a suitable mediator to help resolve their conflict in a timely and cost-effective manner outside the court system. The marketplace enables mediators to focus on the mediation process without having to engage in often questionable business boosting practices. It is developed by Loxe Inc. (https://loxeinc.com/).
As the majority of blockchain solutions, to increase confidence on the security of smart contracts, a 3rd party should be actioned to audit and certify these smart contracts to be launched on mainnet once our solution is ready.
This proposal fits the DApps & Integrations challenge since it is an improvement of an existing DApp, already funded by Catalyst. Our project is aligned with the ‘Solutions utilizing the power of smart contracts’ potential direction mentioned in the challenge brief. We are also contributing to the challenge’s key metric ‘Did our efforts result in new, viable applications built on top of Cardano?’. It also fits the budget suggested in the challenge for a team with proven competence and whitepaper (check https://loxeinc.com/ for more details).
The main risk of this project not being delivered is related to the budget required. We believe it’s very close to the actual cost, based on our latest conversations with 3rd party auditing companies. There is also a risk of delay related to their workload, which could delay this project, although it would still be delivered after the deadline mentioned here.
Our roadmap to develop this proposal is:
Based on our preliminary research with possible 3rd party auditing groups, we estimate that the costs to perform the audit of the Win-Win platform will be at least $80k. The final, exact value would be confirmed only once the smart contracts are ready for review.
Therefore, we are submitting this proposal requesting $80k. Any costs above that will be absorbed by Loxe Inc. In the unlikely case that the audit cost is lower than expected, the remaining budget will be used to fund other parts of Win-Win development.
This proposal is going to be executed by Loxe Inc.’s team. The full team can be seen at https://loxeinc.com. The leadership team responsible for this project is:
Matthias Sieber
Eli Selkin, L.C.S.W., M.S
Victor Corcino
Ganesh N
Since this project is going to be done by a 3rd party company, we will be able to report to the community the same reports that they provide to us. Therefore, we cannot be sure now about it, but we will ask for monthly reports on the execution of the project and forward them to IOG and the community during che monthly meeting with challenge teams and bi-weekly coordinator meetings.
Success for this project looks like having successfully been audited by a 3rd party company in a period after 6 months. We believe that the auditing itself will not take that long, but last time we checked with the 3rd party companies, they had a backlog that had to be dealt with first, and only afterwards they would be available to audit our platform. Therefore, since results of Fund 8 might be disclosed by mid 2022, we expect to have the audit done, and therefore this proposal completed, by the end of 2022.
This proposal is complementing a previously funded proposal called Win-Win Dispute Resolution (https://cardano.ideascale.com/c/idea/368353), now called mediators.ai.
Loxe Inc. team, experienced and hackathon winning group of Plutus and AtalaPRISM developers, Gimbalabs PPBL veterans.