Smart Contract Audit Marketplace | CodeHawks v0.1 is LIVE
Smart contract audits are getting easier.
Get your profile set up now. Be ready to fly with Codehawks when the first contest starts. 🦅 Kaw! Kaw!
In today’s Decentralised Finance (DeFi) world, security has increasingly become a concern for developers and users alike. According to ChainAnalysis, in 2022, out of the ~$44 billion circulating in DFI, around $3.1 billion was hacked — constituting approximately 6–7% of all DeFi.
This is like going to a bank to deposit all your money, only to be told that there’s a 6% chance that all your deposit will vanish by the next year.
The financial reality presented by these figures presents a major stumbling block to the widespread adoption of web3.
This is apparent with the dwindling $44B DeFi TVL. To put this number in context, I previously worked at a 150ish-person hedge fund that currently has a total AUM (assets under management) of $41B.
$44 billion TVL is *tiny*.
The Problem with Smart Contract Audits
Often, in response to these security concerns, protocols will assure you:
But we’ve had audits!
As you know, not all smart contract audits are created equal. So the question is, where do I find a good auditor? I’ll just Google for one, I guess?
Finding a competent auditor can often be a nightmare, and if you’re newer to the industry, it’s nearly impossible to tell which ones are good. Not only that, but a single smart contract audit is often not the complete story when it comes to ensuring the highest level of security.
Web3 Careers
And finally, developers who have completed our educational curriculum always ask the question:
So, what do I do now?
This recurring question points to the lack of a clear, structured pathway for developers and security professionals in the DeFi space.
Introducing Codehawks
👉 Register Here!
So, in response to these challenges, we are enthusiastically launching the beta version of our platform — Codehawks.
Codehawks is a marketplace for smart contract audits. It is designed as a place where projects searching for a smart contract audit can be matched with auditors who can bid for these projects.
One of the key benefits of Codehawks is that it creates an objective history of the performance of smart contract auditors, along with a record detailing the steps a protocol takes to maintain high levels of security.
As we roll out the marketplace, we think that all kinds of audits are needed to stay secure:
- Competitive Audits
- Private Audits
- Private Competitive Audits
- Test reviews
And we want to roll out support for all these. We are supporting only competitive audits for the beta launch, and we’ve got two fantastic competitions we are launching with.
Why CodeHawks Competitive Audits?
1. No plutocratic governance
2. Anonymus judging
3. More incentives for higher vulnerabilities
4. Fast judging
5. Community built & collaborative
As competitive auditors, we want to give auditors and protocols the best experience.
The First Two Competitions
We need our audit marketplace escrow code audited, so we are launching it on CodeHawks! The Codehawks Escrow competition has a prize pool of $40,000.
And additionally… Those looking to get your first competitive audit and who have taken my latest course should be familiar with our foundry-defi-stablecoin project. We are putting this beginner-friendly audit up for competition for a $15,000 prize.
If you’ve NEVER done a competitive audit before, THIS IS YOUR CHANCE TO GET STARTED!
Future Plans
Of course, this is just the beginning. After our initial competitions, we already have audits for LinkPool’s staked derivatives platform and Beetle’s peer-to-peer oracle-free lending market on the horizon.
We must get Web3 ready for retail, even if we have to drag it there.
In Closing
If you’re looking for a one-stop hub for a smart contract audit, head over to codehawks.com to get started.
Auditors: Register to fly high with CodeHawks
Protocols: Get the “highest” smart contract audit coverage with CodeHawks
To stay updated on all our security educational content, head to web3education.dev and subscribe. We’ve got some big plans coming.
Looking forward to seeing our community take flight with Codehawks. The countdown for the first couple of audits starts now! Let’s make Web3 secure for everyone.
🦅 Kaw! Kaw! 🦅
