Sherlock is a smart contract auditing platform that utilizes a distributed network of security experts and incentivized audit contests to identify vulnerabilities in blockchain code. The platform offers up to $10 million in coverage for each audit, ensuring robust protection against potential exploits before deployment to mainnet.
Funding
$5.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
AFounders
Product
Problem
Smart contract vulnerabilities can lead to significant financial losses and reputational damage for blockchain projects. Traditional auditing methods may not always identify all potential exploits before a project is deployed to mainnet.
Solution
Sherlock provides a smart contract auditing platform that leverages a distributed network of security experts and incentivized audit contests to identify vulnerabilities. By combining elements of traditional audits with crowdsourced incentivized auditing, Sherlock aims to offer a more comprehensive security review. The platform allows projects to tap into a wide range of security expertise, increasing the likelihood of uncovering subtle and complex bugs. Sherlock also offers coverage for each audit, providing financial protection against potential exploits discovered post-deployment.
Target Audience
Sherlock's primary customers are Web3 projects, including DeFi protocols, NFT platforms, and other blockchain-based applications, seeking thorough smart contract security audits before mainnet deployment.
Features
- Distributed network of security experts participating in audit contests
- Hybrid approach combining traditional audit strengths with crowdsourced incentivized auditing
- Incentive-based model rewarding auditors for identifying vulnerabilities
- Bug bounty and exploit coverage offered post-audit
- Fix review provided at no additional cost