The inherent conflict of interest that comes with paying for audit services has long been an issue in the auditing sector. Auditors are supposed to be impartial to their clients, but how can you be impartial when you’re evaluating your own company? With several examples of hired auditors producing forged attestations to keep their clients happy – think Enron, WorldCom, and Tyco, to name a few – the world is finally waking up to the need for alternative decentralized and independent alternatives.
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 evident from the start that ensuring DeFi mass acceptance necessitates independent audits employing a standardised set of standards for code certification, as well as a thorough examination of the project’s development team and validity. Nonetheless, the existing structure allows development teams to tamper with audit results. Not only does the existing price structure put many auditors’ independence in jeopardy, but it also creates an unequal system in which only well-funded development 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.
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.
Price: $0.02 USD
IEO Start date: 2022-02-21 13:00 UTC
IEO End date: 2022-02-24 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
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.