by
Daniel Francis

What is AuditOne?

AuditOne is an all-in-one security platform for smart contracts. The platform offers a range of security services and tools to ensure the security and reliability of smart contracts, including the verification of auditors, an auditor aggregator, self-service audit tools, bug bounties, and standardized audit reports. 

AuditOne aims to improve the security of smart contracts and promote transparency in the auditing process. Projects can request an audit from AuditOne, and the platform will assemble a team of skilled auditors to audit the project's codebase. AuditOne charges projects a fixed fee, and auditors are paid a bonus for finding issues.

Our Mission

At AuditOne, we seek to improve Web3 security and transparency. We do this by bringing together a community of experienced auditors and providing them with the tools and resources they need to conduct thorough and transparent audits. Projects should focus on building the best products connecting the DeFi ecosystem. According to Immunefi, in 2021, over $10B was lost due to smart contract exploits. 90% of traders have experienced scams/rug pulls from crypto projects. This has placed both developers and users on edge when it comes to using DeFi protocols. 

At AuditOne, we want to ensure protocols act as they should and give the end user peace of mind when interacting. Legitimate projects should feel confident that they did their due diligence in securing their codebase from potential threats and just focus on providing the best services to their clients.

No standards require projects to audit their smart contracts, but the blockchain is not forgiving! We focus on democratizing audits in Web3 and empowering talented auditors to secure Web3. The AuditOne team believes that investors consider audited smart contracts reliable and that enhancing the security of assets stored on them will increase their dependability for end-users.

Traditional audit firms often produce reports without revealing their internal processes, leaving users wondering how their projects were audited. At AuditOne, we prioritize transparency in the auditing process. We will provide a clear and transparent view of our auditors' work so that users can have confidence in the quality and thoroughness of our audits.

Why AuditOne

Various moving parts of the AuditOne ecosystem come together to produce the best outputs for projects.

  • Academy
  • Audit tools 
  • Auditors 
  • Audit verification 
  • The pool 
  • Peer review
  • Bug bounty 
  • Credibility for projects

The Academy is one of the key components of the AuditOne ecosystem that helps produce the best audit results. The academy provides knowledge for auditors to learn and develop their skills, ensuring they have the expertise necessary to conduct thorough and effective audits.

Additionally, the audit tools and verification processes provided by AuditOne can help ensure the accuracy and reliability of the audits performed.

The pool of auditors, a peer-reviewing system, and a bug bounty program help provide additional layers of scrutiny and oversight, improving the overall quality of the audits.

Overall, these components of the AuditOne ecosystem work together to provide high-quality outputs for projects, helping to improve their security and credibility toward users.

Academy

The AuditOne Academy is a training and verification program for auditors. Through the academy, auditors can complete our verification exam and perform KYC to ensure that they are qualified and vetted to conduct audits on our platform.

The academy offers courses on our tools and best practices, providing auditors with the knowledge and skills they need to perform high-quality audits. Users can earn XP for completing courses and demonstrating their expertise and experience on the platform.

Our ecosystem relies on the AuditOne Academy to equip our auditors with the knowledge and skills necessary to deliver top-notch audits.

Audit Tools

The tools on our platform allow users to assess projects on different metrics to improve audit or due diligence capabilities. 

Technology: AuditOne provides on-chain and code vulnerability analysis tools powered by SolidityScan by Credshields and Slither by Trail of Bits. Smart contract auditing tools are essential for ensuring the security and reliability of smart contracts. They provide a comprehensive code analysis, allowing developers to identify potential vulnerabilities and bugs before deployment. An audit of technology ensures that the codebase optimizes for performance and scalability.

Tokenomics: Conducting a tokenomics audit is necessary to evaluate a cryptocurrency project's viability. It can help identify red flags and potential risks associated with the project. Furthermore, a tokenomics audit can provide valuable insights into the project’s overall health, its tokenomics model, and its long-term viability.

Finance: An audit of finances is required to guarantee the accuracy and completeness of financial statements. It also helps in detecting and preventing fraud and errors in financial transactions.

Operations: Operations audits are essential because they help teams identify areas where they can improve their operations. Projects can make changes to improve their efficiency and effectiveness by identifying these areas. Additionally, operations audits help to ensure that the project implements the best practices to reduce risk.

Marketing: A social media audit is needed for businesses to understand their social presence and performance. It can help projects identify areas where they need to improve their social media strategy and execution. Additionally, a social media audit can help projects benchmark their performance against competitors.

Auditor

We find our auditors on leaderboards such as Code4rena, Immunefi, LinkedIn's security engineers of audit firms, and at events like Hackathons and Bounty hunts.

Auditor Verification

Gone are the days of anonymous actors. To ensure responsible and qualified people are shepherding Web3 security, we have opted to KYC all our auditors. This process holds individuals accountable and discourages bad actors from influencing the auditing process. 

We also include an exam and a technical interview to assess the auditor's knowledge and skills. The exam may consist of questions about auditing principles and best practices and specific questions about the tools and processes used by AuditOne.

The technical interview may involve a more in-depth discussion of the auditor's experience and expertise and reviewing their past work or projects they have audited.

By completing the verification process, auditors can demonstrate that they are qualified and capable of conducting high-quality audits on our platform.

Auditor Performance Review 

Our auditors gain experience points through the information they provide to us on signing up, such as experience, mostly previous audits, and KYC. Auditors who perform well and participate in the AuditOne community are rewarded with XP points for their audits, peer reviews, issues found during the auditing process, and completing courses in the Academy. These top-ranking auditors will be featured on a dashboard on AuditOne.io and receive a higher payout after completing an audit based on their total XP earned.

The Pool

A team of four experienced, vetted auditors is assigned to evaluate the security of the code base upon receiving an audit request. The team works independently to audit the project until they present a preliminary report. AuditOne selects a lead auditor based on skills and experience. Their purpose is to compile all audit findings and present them to the expert committee verifying the detected issues. The project can revise its code base after the committee has completed its verification process. The auditors suggest fixes for the code, and after confirming the revisions, they issue a final report. Projects and auditors maintain an open line of communication during the auditing process to improve transparency.

Peer-Review

Our audits do not occur in a vacuum, four auditors independently inspect the code base provided by the projects, and their results are reviewed and corroborated by the lead auditor and the AuditOne team. This way, multiple auditors can verify the code of a smart contract to ensure that it is secure, reliable, and free of bugs. With a peer review audit, different auditors can identify potential security vulnerabilities, coding errors, and other issues that could lead to a loss of funds or data that one individual auditor could overlook. This system also reduces the possibility of auditors and projects conspiring to give the green light to any malicious projects.

Bug Bounty

We carry out bug bounties during and after an audit. The higher the severity of the issue, the higher the payout to the auditor. After an audit, the protocol's security is still ongoing—bug bounties aid in discovering vulnerabilities in smart contracts post-audit.

This helps ensure the code is secure and free from any potential exploits. Additionally, bug bounties can help identify potential issues before they become major problems, allowing developers to address them quickly and efficiently. This can help reduce the risk of financial losses due to malicious attacks or other security issues.

Credibility For Projects

AuditOne provides an independent, objective, and unbiased examination of its codebase to ensure it adheres to industry standards. Our final reports are accurate and reliable, allowing internal and external users to gain sufficient insight into a project through this document.

Where We See Ourselves In The Future

AuditOne is promoting blockchain technology through its secure and reliable platform for smart contract development. We focus on contracts written in Solidity and Rust, with ecosystems like Ethereum, Polygon, BSc, Avax, and Solana. 

We want to become the Web3 equivalent of the Big Four in the financial audit sector. Projects behind protocols and DApps worth millions or billions should be audited frequently by security experts. AuditOne will play a key role in such a standard by using the decentralized nature of Web3 to source the best talents. 

About AuditOne

At AuditOne, we are committed to making security audits more accessible through our smart contract platform. Our team is passionate about the advancement of Web3 products and their security. We are a combination of industry experts and academics in the DeFi space. We want to reduce long waiting lists, high prices, and audit mismatches with projects by building the best platform for finding and booking certified smart contract auditors.

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