Token Audit General Discussion - what, why, where, how much?

[Jure321]

Hey everyone!

I am a newbie and looking to learn more about audits.

What I learned so far about an audit is that it's used as proof that your project is legit - like there is no rug pull function in the smart contract (is this correct?)

The most famous one is Certik?

What I don't know is how much does it cost and what are the other options to get one? Is it always paid or there are free options?

I've also read about KYC. It's level up from the audit as I see it? Basically, some company who's providing the KYC check guarantees for your project and your team. Like there are real people and developers behind the project?

Please join with your questions if you have any. I hope we'll get some replies here.

Thank you in advance

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[Miki13]

I am also interested in the answers to these questions. I would love to find someone who has already done this 

[nimogsm]

Hey everyone!

I am a newbie and looking to learn more about audits.

What I learned so far about an audit is that it's used as proof that your project is legit - like there is no rug pull function in the smart contract (is this correct?)

The most famous one is Certik?

What I don't know is how much does it cost and what are the other options to get one? Is it always paid or there are free options?

I've also read about KYC. It's level up from the audit as I see it? Basically, some company who's providing the KYC check guarantees for your project and your team. Like there are real people and developers behind the project?

Please join with your questions if you have any. I hope we'll get some replies here.

Thank you in advance

Popular audit firms will be expensive, all prices can be easily found in Google.There are also free options, all of which can also be found.
Documents for KYC today can be collected by any company and this does not mean that they are reliable.There is no guarantee that they will be honest with your documents.

[Yogee]

...What I learned so far about an audit is that it's used as proof that your project is legit - like there is no rug pull function in the smart contract (is this correct?)

It adds to the legitimacy of the project but it doesn't mean it's 100% legit if you get what I mean. It doesn't completely save you from the intention of developers to pull the rug out. What you need to look for is if issues raised by Certik has been resolved. There could be many vulnerability or bugs that hackers could exploit.

The most famous one is Certik?

Yes.

[zonefloor]

In order to sell a project today, most, if not all, require KYC. However, KYC requirements do not mean that they are reliable and will not defraud investors. Even if the project does not work in any way, they can collect and sell the IDs of the users who want to invest in them. As for the price issues, you can analyze the prices and review the projects both on google and coinmarketcap and ceoingecko.

[cryptoaddictchie]

What I don't know is how much does it cost and what are the other options to get one? Is it always paid or there are free options?

Its quite expensive actually especially when you tapped some famous one like certik, hacken, peckshield amd many more. But I think solidity finance is the cheaper among those popular auditing projects. The result isnt that different since Im sure they are using same pattern to detect such functions. Its just a brand for some thats why they are already expensive.

[dansus021]

Certik, Slow Mist, PechShield is most famous one be there is also lot Smart Contract Auditor Out there and KYC became biggest needed for the audit since if the project going scam or rugpull we can still track them down even tho only the Audit that know KYC, usually KYC also need when u gathered fund on Venture Capital