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DeFi Security Alliance
DeFi Security Alliance
Smart Contract Audits Pricing Explained
While approaching an auditor, the first thing a client wants to know is always the price.
Some would be more secretive, while others would list offers right there on the main page. However, it still helps to know what the difference is and how the price is formed. Today, we are delving into the pricing policy of the most notable auditors.
Contents
Pricing Range
Like in any other market, it’s possible to find different prices for smart contract auditing services. And the price range can be impressively wide: from $250 to $10k and higher. So in general, to simplify the conversation, we will categorize auditors into three groups.
An audit is considered cheap when its price is below $1000.
Medium-priced audits would cost $2-5k, and expensive ones usually start from $5k.
Of course, it helps to remember that any price depends on the number of contracts and their size.
Medium-priced audits would cost $2-5k, and expensive ones usually start from $5k.
Of course, it helps to remember that any price depends on the number of contracts and their size.
Why is it so Cheap
There is a whole group of auditors out there, that offers low prices. Usually, these are the ones collaborating with launchpads, which explains the discounts. They get a steady string of new clients, and are able to snatch them before anyone else.
A few examples of that are companies like SpyWolf, Analytix Audit, BlockSAFU, CFGNinja, Audit Rate Tech, and others. These projects are partners of the PinkSale launchpad, so the platform offers their services right away, giving them the priority.
These companies tend to keep a steadily low price of around $250 for a PinkSale-generated contact. For any other contract they would take twice as much, which is still cheap.
According to one of the auditors, this price was agreed upon by all the companies to avoid losing money fighting for clientele in a bear market.
Does Medium Equal Balance
A group of more expensive but not luxury auditors requests an average payment of around $1-2k.
Although on platforms like PinkSale they would be listed in the same “Normal Price” section as the cheapest ones, there are notable differences in their policies. For instance, these companies might not offer discounts for a specific launchpad. However, the standard preconception suggests that with higher pricetag comes higher quality.
Whether or not it is so, the likes of InterFi, FreshCoins, Cyberscope, KIShield, Solidproof, Rugfreecoins, and TechRate are requesting a medium price for their services.
Whether or not it is so, the likes of InterFi, FreshCoins, Cyberscope, KIShield, Solidproof, Rugfreecoins, and TechRate are requesting a medium price for their services.
Lux Audits for Lux Prices
The most expensive auditors are usually Tier 1 companies that are well known in the industry.
Whenever you hear audits mentioned, their names would be the first ones to pop up.
Many of these companies don’t work with small projects or token smart contracts.
As an example, we have Trail of Bits, a software security company, that works with large projects only and the pricetag starts at $100k.
Many of these companies don’t work with small projects or token smart contracts.
As an example, we have Trail of Bits, a software security company, that works with large projects only and the pricetag starts at $100k.
As a point of reputation, such companies wouldn’t audit a small project for a high price even if you were willing to pay. Which is impressive, considering that for a company this would mean quick and easy money.
This does speak to ерру status and self-presentation of the company.
Most tier 1 companies, however, would offer a starting price, as well as their own discounts and occasional sales.
Most tier 1 companies, however, would offer a starting price, as well as their own discounts and occasional sales.
Payment options
The range of audit prices is very wide, and every tier is usually oriented toward a particular audience.
This explains the pricing policy and the choice of payment methods. Expensive companies would often accept payment in stablecoins or bank transfers in USD. Medium tier projects forego fiat currency in favor of USDT/USDC, while cheap ones may accept various tokens including the tokens of the project they are auditing. On average up to 20% can be paid in those. The do, however, balance it out with stablecoins.
It’s important to remember that no auditor is going to work at a loss. There always will be either material or promotional gain, as well there should be.
Price is not the only thing to consider. So when looking for an auditor, one should do an extensive research, considering reviews, available options, quality of services and customer support.
It’s important to remember that no auditor is going to work at a loss. There always will be either material or promotional gain, as well there should be.
Price is not the only thing to consider. So when looking for an auditor, one should do an extensive research, considering reviews, available options, quality of services and customer support.
Wrapping Up
Never put your DeFi security down!
Besides the golden rules above, you should remember that there is hardly a comprehensive list to cover all potential vulnerabilities. The more blockchain and DeFi grow, the more sophisticated attempts hackers create to exploit the systems and steal your money.
Never put your DeFi security down!
Besides the golden rules above, you should remember that there is hardly a comprehensive list to cover all potential vulnerabilities. The more blockchain and DeFi grow, the more sophisticated attempts hackers create to exploit the systems and steal your money.
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