SLURP-39 | URGENT stPOL audit cost

SLURPs
1

Abstract

This proposal requests DAO authorization for the allocation and subsequent full payment of audit expenditures associated with the audit of stPOL smart contracts. The cessation of Lido’s operations presents a unique opportunity for the Polygon (POL) community to establish a novel Liquid Staking Token (LST). This proposal delineates the imperative nature of comprehensive audits to guarantee the security and reliability of the stPOL protocol, thereby facilitating its successful deployment and widespread adoption. Current negotiations are underway with the Polygon Foundation concerning delegation, and considerable interest has been expressed by prominent Polygon validators, including Stakin, Simply Staking, PierTwo, and Stake.fish, all of whom are affiliated with the SDL cohort. We were able to secure an audit slot last minute then can commence EOW and need to put down a deposit.

Rationale

The discontinuation of Lido’s services has engendered a deficit in the POL liquid staking market. To capitalize on this opportunity and furnish the POL community with a resilient and secure LST, the development and implementation of stPOL smart contracts are indispensable. Stringent audits are crucial for the following reasons:

  • Security Assurance: Audits will identify and rectify potential vulnerabilities within the smart contracts, thereby safeguarding user assets and ensuring the protocol’s integrity.
  • Community Trust: The establishment of a secure and dependable LST will cultivate confidence within the POL community and encourage broader utilization.
  • Validator Collaboration: The involvement of esteemed Polygon validators, such as Stakin, Simply Staking, PierTwo, and Stake.fish, underscores the paramount importance of a secure and meticulously audited protocol.
  • Foundation Alignment: Ongoing discussions with the Polygon Foundation regarding delegation underscore the strategic significance of this undertaking.
  • Market Opportunity: The absence of Lido presents a distinct market opportunity for a secure and efficient POL LST. As discussed in the Polygon forum, there exists a substantial demand for this solution. (POL Liquid Staking - Proposal Ideas - Polygon Community Forum)

Specification

Audit Expenditures:

Timeline:

  • Deposit: ASAP
  • Full Payment: After completion in 2 weeks

Payment Terms:

  • A deposit of $17,500 is due asap
  • $17,500 rest payment due upon completion

Conclusion

Approval of this proposal will expedite the timely and secure development of stPOL smart contracts, thereby enabling the POL community to leverage a dependable and efficient LST. Audits represent a critical phase in assuring the protocol’s security and bolstering community confidence. The active engagement of major Polygon validators and sustained collaboration with the Polygon Foundation signify the strategic relevance of this endeavor.

We expect a rapid ratification on this proposal and appreciate your patronage in advancing the POL liquid staking ecosystem.

4 Likes
2

This looks like a really interesting opportunity from every angle. It’s great to see initial cohort validators collaborating with SDL on additional verticals, this kind of engagement is very positive for the ecosystem. Also really appreciate that, despite the urgency, this is being brought up beforehand rather than handled as a retroactive reimbursement.

Thanks @Asymmetric! Appreciate the efforts.. Send it

4 Likes
3

GM! The discontinuation of Lido’s operations on Polygon has created a significant gap in the POL LSTs market and this proposal is a start to create stPOL, after enabling a comprehensive security review by Zellic ensuring that stPOL’s infrastructure is both resilient and battle-tested before deployment, as an alternative to Lido’s PoL.

Additionally, the proposal is strategically aligned with Polygon’s ecosystem. With ongoing discussions with the Polygon Foundation on delegation and strong support from leading Polygon validators such as Stakin, Simply Staking, PierTwo, and Stake.fish, it is evident that there is substantial interest and backing for stPOL. This audit is not just a technical necessity—it is a foundational step toward achieving deep validator collaboration and widespread adoption within the Polygon community.

Given that we have already secured a last-minute audit slot with Zellic, it would be nice to proceed without any delay. This proposal enables the DAO to authorize the deposit and subsequent full payment for the audit, ensuring that the process remains on track and stPOL can move forward as a secure, community-driven, and institutional-grade POL LST solution by SDL.

I support the proposal and urge the DAO to approve it. We can establish a robust and secure liquid staking ecosystem on Polygon, filling the gap left by Lido’s departure.

3 Likes
4

GM dear DAO,

We need to make a slight adjustment to this SLURP per a revised SoW from Zellic due to a new commit.

“The Team has wrapped the review of the new commit - only a minor increase to the required eng weeks and price. An additional 0.2 eng weeks and $5000 to the original estimate. I already synced with the team, and they’ve reserved an additional calendar day for the review, so no scheduling worries either!”

We reviewed the changes and accept the revised SoW from technical and business standpoint. Therefore, the Deposit amount due will change to $17,500 and the total amount to $35,000.

Best,
Joe

3 Likes
5

Hi Everyone,

I have held link since 2019 and wasn’t able to get in the first two rounds of staking through chainlink due to personal reasons. I am happy to be in the SDL commnity.

I’ve read through SLURP-39, and I wanted to share my support for this proposal. I think funding the $35,000 audit for the stPOL smart contracts is a smart move for several reasons:
Filling a Market Gap: The proposal highlights that Lido’s exit from POL liquid staking has created an opportunity for stake.link to step in with stPOL. As someone who’s already benefiting from staking LINK on this platform, I’d love to see stake.link expand to support POL staking. I believe this could attract more users to the platform, which might increase the overall rewards pool for reSDL holders like me.

Security First: I really appreciate the emphasis on security. The proposal mentions that audits by Zellic will help identify vulnerabilities in the stPOL contracts, which is crucial for protecting user funds. As a relatively new crypto user, I’m cautious about smart contract risks (I’ve read about past DeFi hacks), so knowing that stake.link prioritizes audits gives me confidence in the platform’s long-term reliability.

Validator and Foundation Support: It’s encouraging to see major Polygon validators like Stakin, Simply Staking, PierTwo, and Stake.fish supporting this initiative, especially since they’re part of the SDL cohort. The collaboration with the Polygon Foundation also suggests that stPOL could become a significant player in the Polygon ecosystem, which could benefit all of us in the stake.link community.

Reasonable Cost: The $35,000 cost seems reasonable for a DAO-backed project, especially given the potential upside. If stPOL succeeds, it could bring in more delegation fees, some of which would be distributed to reSDL holders as stPOL rewards (similar to how I’m earning stLINK now). I see this as an investment in the platform’s growth.

I understand there are risks, like the audit uncovering issues that delay the launch, or the DAO spending treasury funds on a project that might not gain traction. However, I think the potential benefits outweigh these risks, especially since the audit is a critical step to ensure stPOL’s success.
As a new member, I’m still learning about the governance process, but I wanted to add my voice to the discussion. I hope the Governing Council ratifies this proposal quickly, as the timeline seems urgent (with the deposit due ASAP). I’d also be interested in hearing others’ thoughts—especially from more experienced members—on how stPOL might impact our existing rewards or the SDL token’s value.
Thanks for considering my input, and I’m looking forward to being part of this community!

@OceanGuardian on X

4 Likes
6

This seems like a certainly worthwhile ask and expense.

1 Like