BaseGuard
Helping Base to be as safe as possible, helping Investors to find diamonds.
Created on 30th June 2024
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BaseGuard
Helping Base to be as safe as possible, helping Investors to find diamonds.
The problem BaseGuard solves
For Base & Coinbase
BaseGuard creates a culture built around auditing-as-the-norm on Base through free, readily-available, high-quality audits.
This means that a dramatically lower percentage of the next billion people brought onchain via Base will be impacted by scams.
A key benefit of this is that safe crypto users bring their friends and family onchain, while rugpull survivors tell their network war stories instead and scare them off.
For Institutional Investors
A factor that undoubtedly makes any DLT environment more attractive to smart money is security, while safe ecosystems see less value leeched away by malicious parties - providing a more stable and predictable space to invest within.
By consciously changing the way the market views auditing, Base can be the first ecosystem which eradicates the commonality of rugpulls, and as such will be fertile ground for savvy investors seeking to optimize for risk-reward.
For Project Teams
Project teams working to bring high-quality products and communities to the market have a much harder path than scam projects, and can be drowned out by the noise of hundreds of low effort, low-technical-skill projects launching each week.
By raising the bar for code safety standards chain-wide, quality projects automatically shine through more as the signal-to-noise ratio is improved.
For Retail Investors
Retail investors bear the brunt of the damage caused by malicious actors in the crypto space, and have the most to gain from a safer ecosystem and more high-quality provided data on tokens and their code.
More data for token buyers means less profit for scammers. Less profit for scammers means more profit for token buyers. Keeping crypto in the hands of the investors and good actors means a strong ecosystem.
Challenges we ran into
Overall we had a clear vision for the way auditing should be done, thanks to Extropy's guidance provided for BaseGuard (https://github.com/ExtropyIO/How-to-Audit), and the requirements for the UI were clear as well to us from the outset.
The main challenge we faced was finding the optimal way to pass data from audit requests in the UI, through the backend, and then to return the results of audits both to the UI and to the Farcaster frame, all while providing information to auditors as to the state of all audits in the system to support their efficiency.
Github was chosen to allow for seamless collaboration, and we decided to create 2 new branches per audit - the "submission-" branch and the "audit-" branch, and for audits to be completed and then PR'd back into the submission branch before a final check and merging.
Operationally, this allows for many eyes to see the initial audit taking place and all auditors to have the ability to know that an audit is being worked on to avoid overlap. It also then allows for a final check by a senior dev to ensure the system maintains robustness and ensuring that all audits are crosschecked.
Technically, using Github allowed us to use catch events such as PR merging using webhooks, and use those to then trigger actions in the server such as returning the finalised audit data to the UI using sockets.
We knew early on that we wanted to build the audits system around Github, and Extropy provided guidance that aligned with this also. It was just a case of creating a system to run autonomously and in a way that optimized for efficiency.
We now have an early proof of concept of this system that can be iterated on to improve it, but serves it's most fundamental requirement to faciliate a less-centralized human auditing system for free.
One of our key future challenges will be moving from this semi-centralized system to something as decentralized as possible, while maintaining robustness and achieving its underlying goals.
Tracks Applied (2)
Coinbase Smart Wallet
Social Track
SOCIAL with Farcaster
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