We are excited to announce that the GAIA Animal Welfare ($GAIA) project has successfully completed a comprehensive audit with Coinscope. This audit, in addition to our previously achieved KYC verification, represents another key step in ensuring the security, transparency, and reliability of the GAIA project.
You can view the full audit report here:
GAIA Audit on Coinscope
You can also review it directly on Github by clicking here.
Audit Overview
The audit thoroughly examined GAIA’s smart contracts, focusing on aspects such as staking mechanisms, reward distribution, and contract security. The results confirm the overall robustness of the platform, with most areas functioning as intended.
However, one medium critical finding was raised regarding the staking rewards, and we would like to take this opportunity to clarify our approach and why this concern is not applicable to the actual operation of our system.
Clarification on the Medium Critical Finding
The finding suggests a potential risk where users could repeatedly claim rewards over multiple years, potentially depleting the staking pool. However, this scenario was already anticipated, and our smart contract includes mechanisms that prevent such issues:
- Multi-Year Staking Controls: While users can stake for multiple years, our contract ensures that this is only possible if the staking pool has sufficient reserves to cover the rewards. A check at line 125 ensures that the balance of the staking contract is always greater than or equal to the reserve plus the maximum possible rewards.
- Reward Capping Mechanism: The claim function limits rewards to a maximum of one year, even if a user staked for a longer period. This ensures that no rewards beyond the annual cap are ever distributed.
- Staking Availability: If at any point the staking pool cannot cover future rewards, the contract will prevent further staking. This mechanism guarantees that the pool is never depleted.
Next Steps and Our Commitment to Security
We want to reassure our community that the GAIA team remains committed to maintaining the highest standards of transparency and security. The findings of the audit are valuable, and we are confident that our system is built to handle the challenges raised. We continue to refine and enhance our platform to provide the best possible experience for our users.
Stay tuned for more updates on GAIA’s development, and thank you for your continued support!
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