This motion proposal completes the agreement between Solidstate and ICLighthouse DAO for the ICRouter audit, as initially described in Proposal #378.
Audit Report Delivery
The final audit report for ICRouter, which includes a comprehensive review of both the Ethereum and Bitcoin minter canisters, has been published and can be accessed here. The report provides detailed insights into the security of the codebase, covering the management of assets on both Ethereum and Bitcoin networks using tECDSA signatures provided by the Internet Computer Protocol.
Payment Summary
Balance and Initial Allocation
As detailed in Proposal #378, the ICLighthouse DAO approved an initial transfer of 16,406 ICP to Solidstate account. On September 17th at 19:41 UTC, these funds were converted to USD via OTC at a rate of $7.88 per ICP, totaling $129,279 USD. See screenshot here.
Amount Due
- The audit was completed within the estimated 5-week timeline (25 billable days) at a rate of $3,500 per day, totaling $87,500.
- To express our appreciation for the DAO continued trust, Solidstate conducted an additional post-audit review day at no extra charge.
Reimbursement of Remaining Funds
Upon completion, Solidstate converted the remaining USD balance back into ICP at a rate of 8.13 USDC per ICP on October 30th, 20:17 UTC Screenshot here. These 5,138 ICP were transferred back to the DAO’s treasury on October 31, 2024, at 18:22:17 UTC. This transaction can be verified here.
Completion
With the audit report delivered and all financial transactions concluded, this motion confirms the fulfillment of all terms agreed upon in the ICRouter audit contract between Solidstate and ICLighthouse DAO.
We extend our thanks to ICLighthouse DAO for their trust in Solidstate services, and we look forward to supporting the ICP ecosystem in future initiatives.
About Solidstate
Solidstate is the first and only ICP-native auditing agency, specializing exclusively in the security of ICP canisters. Solidstate combines deep ICP expertise with rigorous audit methodologies that go beyond traditional blockchain standards, covering unique security aspects like asynchronous execution, mutable data models, and custom access controls within the Internet Computer ecosystem. Solidstate audits are tailored to the complexities of the ICP, as demonstrated in projects like Sonic, Neutrinite, and ICDex, ensuring ICP projects meet high security standards and best practices.
If you are interested in an audit or would like to learn more about our services, please feel free to reach out to us on X!
Esteban Suárez
Project Lead @ Solidstate