Background:

In the light of crypto-related scams, our team set out to provide a secure experience for our users and investors. As a result, we are implementing security measures which can fundamentally mitigate the risk of security threats from both internal and external forces. We have now 6 main security measures: Multisignature Authentication, Website Security, Ohm audits, Locked LP, Locked marketing/development funds and last but not least, we’ve been thoroughly KYC’d by Assure.

The Hector treasury currently holds $29M worth of assets. Although Hector’s contracts inherit the security of Olympus (we are a fork), we believe it is vital for long-term trust in our project that our contracts are audited seperatly. Especially since Hector DAO is more than just an Ohm fork, but is developing an ecosystem of its own, of which 4,4 is a good and recent example. Transparency and safety are key.

Solution:

We are in contact with prominent auditors and have received multiple fee quotes. Our prefered auditors are Certik and PeckShield. The average quoted cost is $70K.

DAO Proposal:

Approve a budget of $70,000 to fund the security audit from HECTOR DAO. ETA is 3-4 weeks. Please note, this budget comes from the DAO treasury, not the protocol treasury.

Vote to support this proposal: