Snapshot: Audit Program
We are voting FOR this proposal.
We support the core goal of the proposal: providing financial assistance for early-stage projects to secure audits for their contracts. Establishing a functional program to facilitate audits is key and most of its benefits are lost if its not continuously available. We find this program’s structure more direct and intuitive for builders.
We were unable to attend the first office hours call, but we reviewed the discussion from the second call. We do not see this proposal as overstepping the ADPC, given that the Foundation would be running the program as a service using DAO funds and its not like the ARDC is currently running a program focusing on audits (nor is the ARDC proposing to run an audit program in parallel).
From our perspective, the structure of the program is straightforward, and its scope is clear, though it might make sense to lower the initial budget. Say with with a budget reduced to around $6M, the number of subsidized projects would still be 60-70 projects over the year. The process of integrating learnings, establishing clear dialogue around proposing this alternative program could also have been handled better. After reviewing AF’s comments in the proposal, we are also reassured by the committee’s composition particularly the involvement of AF and OCL in overseeing audit pricing, auditor selection, and project matchmaking. Overall the concern that remains for us is the budget size but we are inclined to support the proposal at this stage.