Introducing

The first Bug Prediction Market

Powered by the Solid Token

Token Sale 20% discount for the first month

92 days remaining
92 days remaining
92 days remaining
July 23rd 2018 Oct 23rd 2018

Smart Contract Audits have three big bugs

No consequences

Doing a bad or lazy audit job has no consequences. Demand is growing, skills are hardly traceable.

False incentives

A single auditor or a connected group might choose to wait and exploit a bug when the smart contract is live.

Lack of trust

There is no accurate security confidence metric that determines how secure any given smart contract is, producing lack of trust in projects and leaving room for scams.

Solidified is the #1 smart contract audit platform.

With 200 experts and more than 85M EUR secured, we know the market and its problems. To take on those problems, we need to re-align the incentives in the audit process.

We know the issues. We’re building the solution:

The Bug Prediction Market

What is the Bug Prediction Market?

In a bug prediction market, actors can bet on whether a vulnerability will be discovered in a smart contract by a certain date. The basis for such a market is a smart contract that has been audited and secured by an individual or a group of auditors using the Solidified platform. These actors are held accountable for securing the code by having staked income and reputation in form of the Solid token.

Incentivise reporting bugs found in deployed contracts rather than exploiting them.
Serve as an early warning system that a vulnerability will be discovered.
Providing an economic measure of confidence in a deployed contract’s security.
Reward bug hunters for evaluating a smart contract, even if it’s bug-free.

How a Decentralized Audit Works

Author posts an audit request consisting of their code, Solid Tokens for payment, and bug bounty terms.
Author chooses an Auditor based on their staked Solid Token budget or preference.
Author receives bug reports and fixes them.
Auditor bids Solid Tokens as a bug bounty budget to win the audit.
Auditor executes the audit and identifies bugs.
Auditor receives their remaining bug bounty budget together with the Author’s token budget as their payment, when the audit is done.
Bug hunters search for bugs. If they find some they are rewarded from the Auditor’s bug bounty stake.
Bug hunters search for remaining bugs. They gain massively if they find one and stake tokens on the prediction of “Has Bugs“
Traders join the market and stake Solid Tokens on the outcome.

A new standard for smart contract security

Smart contracts are the foundation of a decentralized economy. But ongoing hacks, allowed by poor
code quality and insufficient audits, put mass adoption at risk. Automated solutions cannot account for
the ever-evolving logic and use cases of smart contracts. With our proven process, the bug prediction
market and the Solidifed stamp, we offer a reliable standard for smart contract security and trust.

We are the community

Solidified is already the #1 smart contract auditing platform with
the largest community of Solidity experts. Currently, audits are
distributed to several independent experts to
tackle the security and quality issues.

400 k ETH

Market cap of audited firms

85 M EUR

Funds secured

200 +

Experts in our community

Happy and secure customers

Strong partners

gnosis

We're collaborating with Gnosis to build the infrastructure necessary to bring the Bug Prediction Market to life.

nexus

Together with Nexus Mutual we're excited to offer the first decentralized alternative to insurance for smart contracts.

segasec

We work together with Cyber intelligence and Anti-fraud partners at SegaSec to protect Ethereum Projects that perform audits with us even further.

state of the dapps

We partnered with State of the DApps to display a Solidified badge on DApps that have successfully passed all stages of audit on our platform.

state of the dapps

IconiqLab is a well-known ICO accelerator program and we are proud to be selected as their primary audit partner.

overnice

We partnered with them to develop communication strategies that say the right thing, at the right time, at the right spot.

Token sale details

This is a static price token sale that only accepts payment in ETH. No soft caps, refunds or token burning are planned. A combination of max participation limit and KYC help protect against whale participation. Only whitelisted contributors are allowed to participate. There’s a 6-month non-transferable period on all tokens, from the end of the main sale. The tokensale priority is given to auditors, developers, security experts, and Ethereum projects to encourage the proper use of the token.

Minimum Participation: 0.5 ETH
Maximum Participation: 100 ETH

Due diligence

Technical due diligence Internal audits with experts in our community (view report)
External audit with New Alchemy (view report)
Whitehat penetration testing by Lightning Security (view report)
Anti-phishing protection by SegaSec
and our DDOS protection with CloudFlare.

Business due diligence by Innogy Innovation Hub

Our transparency pledge We are a registered
member of Santiment’s Project Transparency,
and will disclose all material transactions the token
sale proceeds are used for.

Token distribution

Maximum total supply of 4,000,000 Solid Tokens will be minted.

2,400,000 Solid Tokens (60%) will be available for sale.

Token purchases made during the first month of the sale will receive a 20% discount, this is capped at 1,200,000 Solid Tokens (30%)

Smart contract auditors, Ethereum projects, developers and security experts will be prioritized in our KYC process throughout the sale to provide a strong basis for Solid token's utility.

400,000 Solid Tokens (10%) will create a fund for auditor training to build our community and grow the supply of quality auditors.

The remaining 1,200,000 Solid Tokens will be divided among a liquid reserve, our partners, the Solidified team (3 year vesting) and a small amount for air drop.

60% Sale up to 50% of these will be discounted 2,400,000 Solid tokens 10% Community & Audit Training Fund 400,000 Solid tokens 5% Liquid Reserve 200,000 Solid tokens 1% Airdrops 40,000 Solid tokens 4% Partners 160,000 Solid tokens 20% Team Fund 800,000 Solid tokens

How we’ll use funds from the sale

40% Software development 15% Security and DevOps 5% Customer support 10% Legal & Administration 10% Audit Training Fund 10% Community outreach 10% Marketing & Business Development

55% for Development, Security and DevOps will focus on software development of the Bug Prediction Market features and accompanying incentive systems, smart contract audits, full-stack pentesting, system monitoring & dev ops.

30% for auditor training programs and community engagement with plans for Solidified hackathons, speaking series at security meetups, and event sponsorship.

The final 15% will be used for legal, administration and customer support.

Don’t miss your chance to join in

We think Solidified is the best place for the top experts,
so we invite all auditors and Solidity developers to sign up now
for the opportunity to join our discounted sale.

Don’t wait for the token sale,
join our active community today.