DeFiSafety just released its review of PoolTogether v5 using our recently updated protocol review process (0.9). This is the third review we have done of PoolTogether. The first being in 2021.
DeFiSafety asks that PoolTogether supports us by purchasing a Quality Certificate. DeFiSafety’s reviews help the ecosystem in general and PoolTogether in particular. This latest review highlighted how PoolTogether’s website links do not reflect the increased role GenerationSoftware plays. Note, once you have updated the links please let us know and we will update the links in our report.
In this way and many others we add value to the system. Our new process requires a documentation of protocol monitoring (both on chain and front-end), dev responsiveness (you guys were really quick), better documentation on protocol admin addresses, signatores and their transaction signing policy. Over the next few months we will be asking these questions of every protocol in defi and poking them to improve their transparency by answering.
We have been doing this consistently for over three years writing nearly 600 reviews. We have consistently made defi better. There is now improved documentation on Oracle’s, specifically on frontrunning and flash loan vulnerabilities. We improved documentation on access controls for many protocols. Protocols that are not transparent or using good software processes consistently get bad scores. This helps DeFi users.
DeFiSafety wants to keep going but we need a reliable funding vehicle that keeps DeFiSafety independent. Quality certificates fill this need. We varied the price of the certificates with respect to the specific protocol. For PoolTogether we ask for 5K for a year. We are flexible on this price, but as these certificates pay our salaries we have to be reasonable.
I spoke on a PoolTogether community call about this a few months ago. The comment was that we should check for grants from other communities. We did, they cannot allow us the funding we need. We ask you to reconsider. DeFiSafety adds value both generally and specifically to PoolTogether, far in excess of 5k per year.
Quality certificates offer several advantages.
- It improves visibility of your protocol on our site, meaning it will never be hidden behind a paywall.
- A quality certificate badge on your site is a clearer way to indicate safety than a list of audits
- It funds DeFiSafety so we can continue to improve the quality standards of DeFi. A bit of funding from different protocol allows us to maintain our independence plus grow our team
- We will offer souldbound NFT’s for your wallet addresses so that wallets can indicate the safety before a user clicks Confirm.
Let us know your thoughts. Note a certificate is not mandatory, we have already published your report at no cost. Thanks for your time.