Summary

The DC MPA model has several advantages:

  • The protocol codebase undergoes at least three audit phases. This sequence, connected via a set of incentives and disincentives, is not equivalent to three separate audits; instead, it creates a potent competition among auditors.

  • The model ensures audit quality by properly incentivizing auditors. In particular, the lead auditor is highly incentivized, securing top-tier engagement critical for high-quality audits. Moreover, the dynamic reward pool structure also incentivizes public auditors. Depending on performance, a single public auditor could earn more than the lead auditor theoretically. The innovative reward pool structure is a crucial strength of the model to achieve top-tier engagement and "many eyes".

  • The model is efficient. Transferring all information from one phase to the next increases audit process efficiency. Findings are published immediately, enabling the protocol team to start mitigation immediately.

  • The model's core is transparent and fair. Auditors can communicate with each other, the protocol team, and the judges throughout the audit.

  • The lead auditor's extended engagement helps the protocol team build a long-term relationship with them.

  • The flexible model can be adjusted to suit the protocol team's needs. For instance, Phase 2 could be performed by a limited number of auditors instead of a public community. An individual auditor or an audit firm could perform Phase 1.

The DC MPA process can be summarized below.

PhaseRewardParticipantDurationResult

Traditional Audit by Lead Auditor

30% (+20%)

Lead Auditor

LPL_P days

Audit Report V1.2, System Analysis Report V1, Commented Repo, Walkthrough Video

PET Bug Bounty

30% (+20%)

Public

LBL_B days

Audit Report V2.0

Selective Contest

10%

Selected Auditors

LCL_C days

Audit Report V3.1

Final Review

0

Lead Auditor

LFL_F days

Final Audit Report, Final System Analysis Report

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