Gitcoin GR8 Audits
Transparent and verifiable audits for Gitcoin grants.
PowerLoom’s mission is to make auditing, tamper-proof, scalable and cost-efficient for DeFi protocols and businesses of all sizes. Since we built the first prototype at EthOnline, our team has been hard at work on the audit protocol. While these are still early days for us, we are committed to building in public and wanted to share our progress so far. We are big fans of Gitcoin and their latest grants round (GR8) seemed like a perfect opportunity to showcase our efforts.
Gitcoin’s quadratic funding allows anyone to receive generous matching amounts. While funding itself is on-chain, there’s a ton of connected off-chain data that can impact decision making for all stakeholders. It’s crucial for the Gitcoin team and community to have an easy and streamlined way to audit what’s really happening. We decided to hack something in the past week to show how our audit protocol can help👇
The website tracks every grant (600+) on Gitcoin and audits all information related to it, especially off-chain data such as description, goals and related information. This gives full transparency to stakeholders while making awesome protocols like Gitcoin more accountable. We snapshot data every 10 minutes. store on IPFS (backed by Filecoin) along with cryptographic proofs on Ethereum (via Matic). The UI allows you to view changes and independently inspect audits.
You can search for any grant and we should have audits that go back to a few days. All new grants are automatically added and we are hoping to make more improvements that will allow end-users to better understand changes to complex information such as the CLR prediction curve, etc. Meanwhile, do let us know what you think about it, suggestions or critiques, on your Discord.
There are a number of applications that we’re already thinking of for potential use cases. DeFi protocols while being the hottest trend are also being subject to immense scrutiny. Let us help you audit the data in real time and increase transparency for all stakeholders. Feel free to book a 30 min session directly with me through powerloom.io. Looking forward to sharing more updates in the coming weeks!
