[RE]SLURP-39 | stPOL audit cost

Abstract

This proposal requests DAO authorization for the allocation and subsequent full payment of audit expenditures associated with the audit of stPOL smart contracts. The cessation of Lido’s operations presents a unique opportunity for the Polygon (POL) community to establish a novel Liquid Staking Token (LST). This proposal delineates the imperative nature of comprehensive audits to guarantee the security and reliability of the stPOL protocol, thereby facilitating its successful deployment and widespread adoption. Current negotiations are underway with the Polygon Foundation concerning delegation, and considerable interest has been expressed by prominent Polygon validators, including Stakin, Simply Staking, PierTwo, and Stake.fish, all of whom are affiliated with the SDL cohort. We were able to secure an audit slot last minute then can commence EOW and need to put down a deposit.

Rationale

The discontinuation of Lido’s services has engendered a deficit in the POL liquid staking market. To capitalize on this opportunity and furnish the POL community with a resilient and secure LST, the development and implementation of stPOL smart contracts are indispensable. Stringent audits are crucial for the following reasons:

Security Assurance: Audits will identify and rectify potential vulnerabilities within the smart contracts, thereby safeguarding user assets and ensuring the protocol’s integrity. Community Trust: The establishment of a secure and dependable LST will cultivate confidence within the POL community and encourage broader utilization. Validator Collaboration: The involvement of esteemed Polygon validators, such as Stakin, Simply Staking, PierTwo, and Stake.fish, underscores the paramount importance of a secure and meticulously audited protocol. Foundation Alignment: Ongoing discussions with the Polygon Foundation regarding delegation underscore the strategic significance of this undertaking. Market Opportunity: The absence of Lido presents a distinct market opportunity for a secure and efficient POL LST. As discussed in the Polygon forum, there exists a substantial demand for this solution. (POL Liquid Staking - Proposal Ideas - Polygon Community Forum) Specification

Audit Expenditures:

Total: $35,000 in USDC Firms: https://www.zellic.io/ Timeline:

Deposit: ASAP Full Payment: After completion in 2 weeks Payment Terms:

A deposit of $17,500 is due asap $17,500 rest payment due upon completion Conclusion

Approval of this proposal will expedite the timely and secure development of stPOL smart contracts, thereby enabling the POL community to leverage a dependable and efficient LST. Audits represent a critical phase in assuring the protocol’s security and bolstering community confidence. The active engagement of major Polygon validators and sustained collaboration with the Polygon Foundation signify the strategic relevance of this endeavor.

We expect a rapid ratification on this proposal and appreciate your patronage in advancing the POL liquid staking ecosystem.