Meet With BNB Chain Experts #3: Protect users and projects together with AvengerDAO

Hi everyone, welcome to another episode of ‘Meet with BNB Chain Experts’. This is a podcast series where we invite experts to explore topics that are important to decentralized applications.

BNB Chain along with its ecosystem partners launched AvengerDAO in September, a unique community-run security infrastructure project designed to protect users on BNB Chain from possible exploits, scams and malicious actors. How does it work? What is the process to become a consumer/producer in AvengerDAO? What attracted the projects to be one of the founding members of AvengerDAO? We invited Connie from CertiK, Vivi from Mathwallet, and had an interesting conversation with Marwan and Csaba from BNB Chain around this topic.

Participants:

Connie Lam, Sr Director of Engineering, CertiK

Vivi, Global Business Director, MathWallet

Marwan, Partner Growth Manager, BNB Chain

Csaba, Ecosystem Coordinator, BNB Chain

Here is a summary of the 3nd episode. If you want to listen to the full content please click here.

1) Why did we start AvengerDAO

Since BNB Chain is the largest blockchain by daily active users, we believe that it is our duty to make the ecosystem a safer place and we have the ambitious goal to leverage our whole ecosystem to protect our users as the standalone API is often struggling to define suspicious activities in a timely manner. We aim to protect our users from financial losses and malicious contracts, raise awareness on safety in the ecosystem and push forward further adoption of DLT by setting an industry standard for safe practices.

2) A brief description of AvengerDAO

AvengerDAO consists of: Meter, a passive API system, Watch, a subscription based alert system, and Vault, a programmable fund management system. Meter rates smart contract addresses and alerts the users when they are interacting with the flagged Dapps or smart contracts. Watch warns subscribers in real time when security exploits are happening and Vault helps to increase the likelihood that funds may be recovered if they are lost.

We have been focusing on the Meter for the past one month.. The Vault and the Watch are currently under development, but we will start to onboard the partners for the Watch and the Valut very soon as well.

3) The process to become a consumer/producer

We call the auditors producers as they are producing the data that we are aggregating on the API and the consumers are showing the data to the users. If you are a security auditor or consumer such as a wallet and you think your project will be useful for AvengerDAO, the first step would be to fill out the form. It would be amazing if you could have an open API in place. Secondly our team will make assessments and schedule an introduction call with your team to understand how you would like to work with us. Lastly, the founding members of AvengerDAO will decide how we will move forward.

4) The experience of users interacting with consumers of AvengerDAO

With the current milestone that is achieved by AvengerDAO, community users on BNB Chain will enjoy a much more secure environment to engage with the Web3 projects as a general. For instance, they can interact with the smart contract getting the security rating from the meter API.  It will really further help the BNB chain community to focus on the high performance of projects and escape from those bad actors as general.

5) What does CertiK/Mathwallet benefit from the AvengerDAO

For Mathwallet, it substantially saves our time of reviewing the smart contracts as well as its updated information when trying to launch new dApps in our store. For CertiK, we will benefit by offering our technology and broader range of our end user and the ecosystem projects. This is a really great way to collaborate with the Avenger DAO members to set up more transparent and robust security standards to achieve a more ambitious goal together.

6) How would AvengerDAO differ from other popular security solutions

Actually before AvengerDAO in September, two founding members of AvengerDAO have already partnered with each other. They are PancakeSwap and Hashdit. Hashdit is a security auditor like CertiK. Users could also get risk scores and alerts when interacting with suspicious and malicious smart contracts, the problem is in this case PancakeSwap just works with only one security auditor. After integration with the AvengerDAO the experience would be quite similar but the data that users see would be richer and more accurate from many other members. The community-driven combined strategy as well as the tough process of aggregating information is what stands out to ensure a safer ecosystem. There is no way for a single auditor to scan all smart contracts.

7) What’s your expectation for the future of AvengerDAO

I believe there will be many data contributors in the DAO, which is the most awesome thing. In my opinion, the security results can be acquired not only by the contract address but also by Dapp URL so it will become more and more convenient. What I most expect is Avenger DAO can become an API Standard for the ecosystem and more security solutions or more DAOs to follow and build on in the future.

AvengerDAO represents a brand new collaborative security initiative that will seek to drive collaboration to protect users and developers within the BNB Chain. We’re still on the way. But we know we can do better together with you. Click on this form if you want to be part of it and let’s team up to build a stronger and safer community.

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