What is an Auditing Competition?
A smart contract auditing competition is an event where participants (Hawks!) review a given smart contract or a set of smart contracts to identify vulnerabilities, inefficiencies, and any other potential issues. These auditors compete against each other to find as many valid issues as possible, and they are rewarded based on the significance and quality of their findings.
How does a CodeHawks auditing competition works:
1.Announcement
This is the initial phase where we announce the upcoming competition, detailing the smart contract(s) to be audited, prize pool, and other essential information.
Clicking on the 'Subscribe' button for a competition will allow you to receive valuable notifications, like when the competition officially begins
The contest details page (accessible by clicking 'view') is filled with valuable information such as:
Prize pool severity break downs
Start and End dates
nSLOC and Scope
Scoring
Don't want to miss any of our competitions announcements? Make sure to follow us on Twitter and join our Discord server!
2. Kick-Off
The official start of the competition. From this point, participants can access the contract repo and begin their auditing process. Findings can be submitted through the contest page on the web portal.
We'll be hosting a Live Kick-Off stream for each contest to introduce the code base and interview sponsors, so don't miss those on our YouTube Channel!
Auditors delve deep into the provided smart contract(s), using their expertise to uncover vulnerabilities, inefficiencies, and other issues and recommendations. These findings are submitted to judges for assessment in the next phase.
This period is time-bound, ensuring a level playing field.
The amount of time allotted for a competition is largely determined by the size of the code base being audited
Once the auditing period concludes, the CodeHawks team or appointed judges will review the submissions. This is to validate the findings, rank them based on severity, and prepare for the next phase.
Length of this period is largely determined by number of submissions received.
Community Judging models are being created to speed up the judging process and afford opportunities for auditor community feedback.
For 48 hours following the completion of initial judging, auditors can raise concerns or objections about the decisions made during the judging phase. It’s a window for the community to ensure transparency and fairness.
After addressing escalations, the final results are announced, and rewards are distributed to auditors based on the quality and significance of their findings.
Payouts are distributed within 72 hours from the closure of the escalation period and are currently paid in USDC on Arbitrum one L2 leveraging wentokens.xyz for gas-optimized transactions.
In addition to the above, CodeHawks will be introducing a innovative XP system to reward auditors for their time, dedication and contributions within the community and unique opportunities will be made available to profiles as they advance. Stay Tuned for additionial details to be announced!
7. Closure
The official end of the competition, marking a successful collaboration between CodeHawks and its community of auditors.
Why Participate?
Level Up Your Skills:
Every competition offers a unique opportunity to hone your skills, learning from real-world smart contract scenarios.
The CodeHawks platform hosts a leaderboard so auditors can track and compare their progress and be recognized by the community.
More contests > Better Rankings > Higher Visibility > HUGE Opportunity (private audits etc)
Rewards:
Beyond the intrinsic motivation of ensuring blockchain safety, there's money to be won for contributing significant findings - BIG money.
In addition to this, the CodeHawks platform will be introducing a unique XP system to award and recognize contributions and participation within the community, with unique opportunities tied to this system's achievements. Stay tuned for additional details!
Community Collaboration:
Engage with a community of like-minded enthusiasts, share insights, and grow together. Our Discord and Twitter families are bursting with energetic, like-minded people looking to connect.
Securing Web3:
Each successful audit brings Web3 and the blockchain ecosystem one step closer to robust security practices which will spring mass adoption of Web3!
Smart Contract Auditing Competitions with CodeHawks are more than just contests. They are collaborative events that further the mission of a safer and more robust blockchain ecosystem.
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