Liquidity Budget Audit RFP Review

Governance General Governance Conversation
1

Hi all!

Recently we announced a few things for the Cardano Liquidity Budget.

  1. Lucas and Casey from UTXO Company and Hinson from Sidan Labs will be working on the smart contract and UI for the governance contract.
  2. The smart contract audit RFP was extended

We had one group that submitted an RFP, and today begins the public feedback period!

Here is the RFP that has been submitted:

According to the RFP, we are not required to use this vendor for performing the smart contract audit so we are not locked into this vendor if there are serious concerns on it.

In the event that this vendor is selected, we will proceed to the withdrawal action and perform a second RFP process once the smart contract has been completed. We will not proceed to the second withdrawal action (which will be for 49.5 million ADA) without a smart contract audit.

Please do provide all feedback. The committee will check the forums at least once a day to collect feedback and respond where suitable. Please do recommend changes or considerations, and we will discuss with the vendor. If this vendor is selected, final modifications will be allowed up until January 4, with a final decision on January 8.

For reference, here is the budget info action:
https://gov.tools/outcomes/governance_actions/e5643c33f608642e329228a968770e5b19ef5f48ff1f698712e2ce864a49e3f0#0

2

Welcome to the forum.

Although I appreciate your efforts to socialize this proposal; I urge you once again to refrain from contributing to the accelerated drain on our treasury; especially to prop up liquidity in stables that we will not use long term as an ecosystem.

2 reasons:

  • USDM and USDA only exist at all in these early years while the ecosystem lacks T1 stable solutions. They do not seem poised to resolve our Cardano Island issues without massive liquidity injections at regular intervals. We cannot afford that
  • The latest 70M budget plan will make this entire process redundant. CF and other FEs are seeking funds to just bring in T1 stables. Again, making it redundant and wasteful to prop up these intermediate attempts at solutions