SIP-1 Smart Contracts Audit

Proposal:

This proposal seeks to have the Swerve Smart Contracts audited by reputable auditing services. The contracts can be found on this Git: https://github.com/SwerveFinance/SwervContracts

During community discussions it was agreed upon that an audit is necessary and the proposal to get Swerve audited received overwhelming support.

Benefits of contract audit:

  1. More security and trust in Swerve protocol.
  2. Users who are on the fence would be encouraged to join.
  3. Establish credibility as a serious development on top of Curve.
  4. Prove that community-led projects can be as serious in all aspects as team-led ones.

Since Swerve currently has no dev-share or treasury, the next problem becomes deciding the source of funds for auditing. I propose two structures:

  1. Set up a treasury, to be used for all future developments including audits.
  2. Have a community-supported audit by starting and funding a Gitcoin Grant, held by a Gnosis Safe multisig wherein interested community participants can donate funds to be used for audit expenses.

Please vote for your selection, or feel free to propose a new one on Discord.

Options:

  • Audit via Treasury
  • Community-funded Audit via Gitcoin
  • Something Else
  • No Audit

Off-chain Vote:
https://snapshot.page/#/swerve/proposal/QmRwDc5DBEGCLEWKMNx7qywY1ihMYn4xfh7aBRKmDCHgTk

1 Like

An audit is always nice, but in terms of what will move the needle for this project, I feel like this is pretty low on the list. The TVL without an audit is enough to make this project a success. The treasury funds can be better spent elsewhere.

Please !! come on … how much could an audit cost? Dont you think it will attract a lot more LP to the pools? of course it will!!

So, audit via treasury funds won. Nice!

What happened later? Is audit in progress?

A voluntary audit by crypticlabs.org was done and the report can be found here: https://github.com/crypticlabs/swerve-audit-report/blob/master/Swerve%20Finance%20Audit%20-%20by%20Cryptic%20Labs%20v3.pdf

Audit by community-voted PeckShield has started and is in progress.

1 Like