if we are to facilitate 1 trillion dollars of value via IP rights we need to make sure that the underlying tech is sound. Best practices include auditing of code.
We will hire a 3rd party auditing company to review our fractionalization smart contract.
This is the total amount allocated to Smart Contract Audit projectNEWM
Auditing of smart contracts is important for user trust in the system. In the case of projectNEWM, significant value and intellectual property rights will move through our smart contracts. projectNEWM will hire a 3rd party auditing company to ensure that our smart contracts have no significant security issues and operate as intended.
projectNEWM is a dApp that manage IP music rights and streaming royalties for musicians. Supporting projectNEWM through Catalyst helps elevate the entire Cardano ecosystem.
The largest risk to smart contract auditability is lack of resources on the 3rd party auditor's side. To mitigate this risk, we can elicit multiple offers from auditing companies.
Milestone 1: Auditor selection process completion.
Milestone 2: Smart contract audit complete and any recommendations implemented.
The entire amount requested will be used to pay the 3rd party auditing company.
This project will be lead by Andrew Westberg from a technical perspective and Florian Sorg from a financial and legal perspective.
Yes. There is always the possibility at a later date to request auditing of new smart contracts for new projectNEWM features and dApps. This auditing covers just our first set of smart contracts.
Updates on progress will be shared with the community through our weekly twitter status thread and bi-weekly twitter space tech update. Significant milestones will also be available through our weekly newsletter.
A successfully audited and any suggestions deployed in our smart contracts.
Entirely new proposal.
Our CTO, Andrew Westberg, (Creator of Phyrhose, JorManager, PoolPerks, etc) leads our dev team with over 60 cumulative years of professional experience. Our legal team has over 25 years of legal experience.