At the end of April, Metrom entered a crucial phase in its journey: the auditing stage. We kicked this off with a Hats Finance Audit Competition.
The competition has now concluded, and we’re excited to share a summary of this enlightening experience. But don’t worry, we won’t bore you with endless text. We’re splitting it into two concise parts.
This first part covers our experience with the audit competition, as it was our our first public audit competition. The second part will highlight the findings and provide detailed insights about the audit. You can read it here.
What is Metrom?
For those unfamiliar, Metrom is a user-friendly and efficient liquidity mining platform designed for both campaign creators and liquidity providers (LPs), specifically targeting Concentrated Liquidity AMMs (CLAMMs).
Metrom simplifies the setup of incentivization campaigns, enabling creators to specify targeted pools, running periods, and up to five rewards — all in under a minute.
For liquidity providers, Metrom delivers a seamless experience, making it easy to provide liquidity and claim rewards. LPs can participate in campaigns passively by simply doing what they do best: providing liquidity. They can reliably and frequently claim their rewards directly from Metrom.
Why Hats Finance?
We chose Hats Finance for its unique and innovative audit competition because it perfectly aligns with our core values of rewarding efficiency and performance.
This competition-style audit aligns stakeholder priorities and objectives with incentives, attracting top-tier auditors for a swift and thorough process. Most importantly, it ensures that only valid issues are rewarded, making the audit both efficient and effective.
Benefits of using Hats Finance
Working with the Hats team was fantastic. There are many things we loved about using Hats Finance and the public audit competition and these were the four standout benefits for us:
- Leverages the Power of Crowd-Sourced Auditors: Multiple eyes on the code significantly increases the likelihood of discovering vulnerabilities, reducing the time from discovery to patch.
- Targeted Incentives: Rewards are distributed according to the severity of the discovery, with no payouts if there are no vulnerabilities. This aligns perfectly with our commitment to efficiency of incentives and performance-based rewards.
- Hands-On Approach to Security: Quality assessment is decentralized, allowing our developers to conduct fast and robust evaluations of submissions.
- Dispute Resolution: Adding a layer of transparency and fairness, disputes are handled first by our developers, with Hats stepping in to clarify and even mediate where necessary.
Final Thoughts
Overall, the Hats Finance Audit Competition yielded valuable findings and proved to be an effective tool for scrutinizing our code. You can read more about that here.
We genuinely believe that a public crowdsourced audit complements the traditional audit approach. In fact, we’re finalizing talks for a secondary contract audit with 0xCommit to ensure we’ve covered all our bases.
What’s Next for Metrom?
Our commitment to our community extends beyond security. We prioritize functionality and an exceptional user experience, both as a team and as individuals.
After extensive private testing across multiple scenarios, we are gearing up for a public test of our backend. This test is designed to push Metrom to its limits, evaluating its performance in handling the volume and complexity of a dynamic DeFi market.
Stay tuned to our social channels for updates on these tests and more.
About Metrom: Metrom is a user-friendly, efficient liquidity mining platform designed for both campaign creators and liquidity providers, specifically targeting Concentrated Liquidity AMMs (CLAMMs).
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