Partnership announcement: SCAT DAO and Genius Yield

We're proud to announce our partnership with Smart Contract Audit Token (SCAT DAO) - a Decentralized Autonomous Organization that reinvents the way audits are selected, performed, and financed.

SCAT DAO solves audits’ inherent problem; the conflict of interest that comes from paying for audit services. Auditors are meant to be independent of the people they are auditing, but how can you be independent when you are auditing your employer?

To solve this, SCAT DAO has created a unique self-funding mechanism that inherently maintains independence. This method also provides critical infrastructure to Cardano by offering a free resource where dev teams can obtain a comprehensive audit, receive feedback on any bugs or potential exploits they were unaware of, and demonstrate to the general public that their protocols are safe to use. Until now only extremely well-funded projects could afford audits, preventing many projects worldwide from benefiting from an audit. If Cardano is truly meant to be for everyone, then it’s important to have this critical infrastructure in place that allows anyone to build their vision, regardless of how wealthy or well-funded they are.

This is precisely where SCAT DAO comes in. By creating this trusted independent resource, it will increase competition, innovation, and ultimately expedite blockchain adoption for the masses.

The first step of this partnership will be to mutually support each other’s tokens in our respective protocols, as well as coordinate sharing liquidity between our mutual liquidity pools. In particular, SCAT DAO will support GENIUS YIELD’s liquidity pools in Genius DEX and Genius Smart Liquidity Vault.

We’re very excited to be working together on this common goal. Stay tuned for more details!