Preparing for a Comprehensive Smart Contract Audit — A Primer
A thorough audit is essential when it comes to ensuring the security and integrity of your smart contracts. However, not all audits are created equal. To get the most value for your money and protect your project from potential vulnerabilities, it’s crucial to understand what a comprehensive audit entails.
Sourcing for auditors:
First and foremost, look for a reputable firm with a proven track record in the industry. Consider factors such as their expertise, experience with similar projects, and communication style. Don’t hesitate to ask for references or examples of past work.
Keep in mind that the best auditors are often selective about their clients and may require a pre-existing referral. This is because they prioritize quality and want to ensure a good fit with the projects they work on.
When sourcing auditors, aim to get at least three quotes to compare. However, be cautious of firms that offer unusually low prices or promise quick turnarounds. Some less reputable auditors may simply run your code through automated tools without any manual review, which can miss critical vulnerabilities.
Scope and Pricing:
The scope and pricing of an audit depend on two key factors: volume and complexity. While the number of lines of code provides a rough estimate, the complexity of the code plays a significant role in determining the audit duration and fees. Novel and intricate code interactions require more time and expertise to audit thoroughly.
Audit Process:
To initiate the audit process, you’ll need to provide the auditing firm with essential information, including:
1. Official website or apps
2. Audit code (contract address or GitHub repository)
3. Public blockchain being used
4. Development language
5. Additional technical reports or documentation
A reputable auditing firm will carefully scope the project based on this information to provide an accurate estimate of the audit duration and fees.
Holistic Approach:
A comprehensive audit goes beyond just smart contract analysis. It’s recommended to round off the audit with a web2 penetration testing to identify potential vulnerabilities in the interactions between off-chain and on-chain components. This holistic approach ensures that your project is secure from all angles.
Securing an Audit Slot:
Due to the high demand for quality audits, reputable firms are often booked out 3–8 weeks in advance. To ensure a timely audit completion, it’s crucial to secure a slot well ahead of your project timeline. Delaying this process may compromise audit quality or force you to sacrifice your project’s timeline.
Booking Process:
To book an audit slot, you should have at least 80% of your code completed. You will need to provide the nearly completed code and pay a 50% deposit upfront to secure your slot. The full code should be ready 2–3 days before the scheduled audit start date.
Code Readiness:
Your codebase should be complete or nearly complete to facilitate a smooth audit process. Auditors require access to a GitHub repository with a finished or almost-finished codebase to scope the project and provide a meaningful audit accurately.
Audit Costs and Inclusions:
The overall audit costs typically cover a range of services, including:
- Re-running the audit after any necessary code amendments
- Publishing the audit report and findings
Audit Readiness
Before your scheduled audit, you should get your code as audit-ready as possible. These includes:
System Architecture Documentation
- Provide a detailed description of the system architecture and design
- Include architecture and flow diagrams if possible
- Document assumptions, design decisions, and non-standard practices
Internal Code Review
- Have your code internally reviewed by other developers before the external audit
- Use static analysis tools like Slither to identify basic issues
- Ensure the code compiles without warnings or errors
Team Engagement
- Ensure you have developers available to interact with the audit team
- Be responsive in answering questions and providing additional information
- Fix identified issues promptly during the audit process
Post-Audit Remediation Plan
- Establish a clear plan for addressing the audit findings after receiving the report
- Allocate sufficient time and resources to implement necessary fixes
- Consider a follow-up audit if substantial changes are made
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Conclusion:
A comprehensive smart contract audit is an investment in the security and success of your project. By understanding the audit process, securing a slot with a reputable firm, and providing a complete codebase, you can ensure that your project receives the thorough analysis it deserves. Remember, when it comes to audits, the value lies not just in the price tag, but in the quality and depth of the assessment.
