DAO Proposal - Audit Expense

Temperature Check
1

Hello Sundae DAO Community!

We are excited to bring forth a proposal that marks a significant step forward in the expansion and security of our protocol. As we continue to innovate with new features such as stableswap pools, we remain focused on maintaining the highest standards of security and reliability.

Context

Sundae Labs has successfully implemented stableswap pools and is actively developing additional pool types to enhance our protocol’s versatility and efficiency. These developments necessitate thorough third-party audits to ensure their security before they are launched.

Background

In light of our ongoing development efforts, we have engaged TxPipe, a highly respected auditing firm within our ecosystem, to conduct a series of audits. TxPipe performed the initial audit of the Sundae v3 contracts. TxPipe has offered us a discounted rate given the continuous nature of our auditing needs. The first of these audits, crucial for the deployment of our stableswap pools, is priced at $20,000.

Recognizing the importance of these audits, we propose a temporary reallocation of the protocol revenues. Currently, 15% of the monthly protocol revenue is used to purchase USDM; we suggest redirecting this portion towards making monthly ADA payments to TxPipe. This arrangement will continue until the $20,000 fee for the initial audit is fully paid.

Proposal

  1. Authorize the payment of $20,000 to TxPipe for the audit of the stableswap pools, payable in monthly installments of ADA redirected from our protocol revenues.
  2. Endorse the continuation of using protocol fees for future audit payments, with detailed proposals for each subsequent audit to be presented once the scope and costs are determined.

This approach ensures that our developments are thoroughly vetted and secure, maintaining trust within our community and safeguarding our protocol’s integrity.

Decision

  • Vote Yes to authorize the redirection of protocol fees to fund the $20,000 audit fee for the stableswap pools and endorse the approach for future audits.
  • Vote No if you believe further discussion is needed before we proceed with this funding strategy.

Engagement

Your participation is crucial. Are you ready to support this proactive measure to ensure our protocol’s security and robustness by voting in this governance proposal?

  • Interested
0 voters
1 Like