DAO Audit Practices

Parametric DeFi (also known as Parametric DAO LLC) is a decentralized, autonomous, and organized organization. It stores rules and processes in code. The below audit guidelines refer to the measures and practices implemented to protect smart contracts from vulnerabilities, attacks, and failures.

Governance Mechanisms: The governance mechanisms are transparent, recorded in a smart contract, and cannot easily be manipulated, requiring a supermajority vote among authorized wallet holders using a multisig.

Proposal Systems: There is a specific format for proposals and a voting system is in place. If the proposal is accepted by the supermajority of authorized voters, then there is a repository, scoring system, and token reward for contributions.

Quorum Requirements: Quorum requires a supermajority (at least 2/3 votes).

Access Controls: Secure multisig wallets are being utilized.

Token Distribution: The distribution of DAO tokens are according to a uniform meritocracy of contribution according to a point system. DAO tokens are awarded according to contributions that are in line with the R&D objectives of the DAO.

Treasury Management: There will be a careful audit of treasury practices, for security, stewardship, and checks and balances on an ongoing basis.

Dispute Resolution: The voting process involves a 2/3 or more supermajority vote of authorized wallets in resolving disputes or in instituting new procedures or changes.

Upgradeability: The DAO conducts ongoing evaluations of its security systems to make certain that the latest security upgrades are in place.

Interactions With Other Contracts: As the DAO interacts with other DeFi protocols, these interactions will be tested for security on an ongoing basis.

Emergency Shutdown: There must be a supermajority (2/3 or more) vote in order approve a shutdown of any kind.

Transparency: All votes taken by the DAO are recorded in smart contracts that are accessible to all DAO members.

Member Rights and Responsibilities: DAO members receive protections from the Wyoming DAO LLC structure, which includes liability and IP protection.