Traditional smart-contract audits have fallen short, despite the hefty cost usually charged for them.
15 Sep 2023, 18:15
⚠️ Traditional smart-contract audits have fallen short, despite the hefty cost usually charged for them; major protocols remain exposed to relentless hacks and exploits.
Let's unpack why Uno WatchDog's Audit arm is a different kind of security review for Web3 protocols.
Many audit providers lack sufficient motivation to deliver optimal security to the protocols they’re auditing.
In general, ‘audits’ are often seen as a mere rubber stamp - something to tick off the roadmap before the TGE approaches.
Tragically, the actual users of these protocols don't demand more because they're unaware comprehensive security is an option and it is achievable.
WatchDog’s approach is different and much more comprehensive - we're dedicated to providing premier security for our clients by non-negotiably offering continuous audits and a custom-created Active Monitoring set up of all united smart contracts.
(One recent example where such vigilance would have proved invaluable is the @nomadxyz_ exploit, where nearly $200M was drained.
The audit provider alleged the buggy code enabling the hack was only introduced after the audit was underway, meaning the deployed smart contract code differed from the audited code.)
In addition to this, the WatchDog suite also comes with supplementary insurance coverage to ensure the unquestionable security of user funds.
We're not raising the bar for smart contract “audits” - our aim is to create an entirely new standard for what qualifies as adequate safety within Web3.
In this journey towards enhancing DeFi security, you, as a DeFi user, play a powerful role - by simply demanding comprehensive, holistic security from the protocols you engage with.
Let us know which protocols you'd like to see brought under the protection of Uno WatchDog's holistic security - and enjoy your favorite DeFi protocols with peace of mind.